GBPUSD is currently in a down trend and the bulls are losing momentum after entering the resistance zone. The price has also broken and retested a recent ascending trend line in smaller time frames. Sellers can either sell from here or wait until price breaks under the resistance zone and target 1.26 initially.
If the pair breaks above this zone, the bulls have...
We caught some good pips on GBPCAD with the recent move down and now we are looking to catch more on a retrace to the resistance zone above. Should the descending trend line shown here hold, sellers can take the pair lower again.
As the image suggests, we enter this trade when the price moves below our entry point.
If price breaks above the channel, we cancel our order and look for another opportunity near the above resistance marked on the chart as a white horizontal line.
Bears are looking to pull GBPAUD into the orange box area.
Some nice pips to be made here. Be sure to always keep an eye on the price action on smaller time frames (30, 15) to ensure the market doesn't go against you whilst unprepared to adapt your plan.
Hello all. New theme. Hope you like it.
I entered short when price broke into the envelope from above. And I am adding a short if it breaks out of it here.
--The envelope is the grey wave area, with blue at the bottom and red at the top--
The orange line is the next support and our target.
Hopefully most of you took advantage of the bear run yesterday and this morning. Or at the very least managed to close your longs at on Monday when the bulls ran out of steam (see related idea linked below)
This is a simple set up. We wait for the price to break out of the short term (green) structure, then we buy. This break should match up with the structure in...
Price has reached the top of the current ascending channel. Couple this with the bearish divergence shown on the chart above, shorting seems like an easy choice to make. Or at least taking profit at this area if you have been long all morning like I have.
The first target is shown. If the price reacts strongly to this resistance then it will be a...
The word technical analysis is thrown around all the time. Whether it be related to a chart with 5 indicators and an animal shaped pattern, a randomly drawn 'fib retrace', or when a new trader identifies his first semi-accurate trend line...
Well here is an example that I think may be more useful for some members here who look at charts to learn and get ideas...
We can take a long here.
Our MAs are showing a good buy signal that coincides with the breaking and testing of the descending channel we have been trading in for the past while.
Green is above red, while red has crossed above blue during in time with the channel break.
I will outline the "buy signal(s)" I will use as confirmation to go long. Waiting for confirmation doesn't always get you in at the perfect price. But attempting to catch the falling knife is never a good strategy, even if you succeed sometimes... In the long run, waiting for confirmation is best practice. (Especially if you also trade non crypto assets)