Have confirmed the buy on hour 4! We are going to open up 3 trades and take profit at every fib retracement level!
Trade MUST HOLD over the weekend!
Happy Trading!!! We have the confirmation now! Check Hour 4
So we have a double top on hour 4! According to babypips and autochartist automated charting software , double tops and bottoms have a 70 percent success rate!
You can sell now or put a sell limit order right under the highlighted area!
After that big drop during New York Open...
Price dropped hard and got rejected again at the area that we thought was support!
It’s clear now that this trend line is support and price will not go to the blue trend line!
Go Long Again!!!!
See this pattern? This is a Rising Wedge!
This is a Trend Reversal Pattern meaning eventually price will become exhausted and fall out of this pattern! Once the breakout happens to the downside, if traded correctly, your sell orders will be triggered throwing you into immediate profits!
This type of trading is called breakout trading!
For more info , Google...
Again, Many Pairs are moving The Same Way! We see that Cad/Chf Broke Support, Retested, And should now move down to the next area!
I wanted to also use a Fib Retracement on this pair just to show you how price literally bounced off of every retracement level! (See The Yellow Arrows)
So I Fully Expect Price to fall at least until the next area!
A Value Area is a area where both buyers and sellers BOTH AGREE that the current price of the "Currency" , Stock, Commodity, Etc is a FAIR PRICE!
Eur/Usd is in one of these areas and a breakout is about to happen *MOST LIKELY TO THE DOWNSIDE* (See Daily Chart)
These Value Areas are some of the most fun and powerful trades any breakout trader could ask for...
Last Week I had a buy opened and closed in profit right before news. I also sold that big drop after the interest rate decision with a 10 pip trailing stop grabbing myself around 60 pips in just 2 seconds. Nzd/Usd then moved back up after the big drop and where did it stop? If you look at the yellow trend line, you can see that this area is a area of support! Look...
Was holding a long! News went our way as expected turning Nzd Bull and spiking me up 80 pips in profot immediately !
Buy Now , Take Profits at Fib Retracement Levels!
Im sorry these charts look like garbage!
Will publish better charts sunday
Details on the chart! Still traveling and on my phone! You can take profits at Fib Retracement levels! Open up 3 Sells and take profit at each level and move stop loss to entry on the 2nd 2 trades after tp1 hits
I took a break after a while but still traveling!
Aud/Usd has broken out of the fallen Wedge again after faking me out a few tikes last week!
Im running a buy in profit now! Take profits at the broken support area , or fib retrscement levels!