About meTrading concepts regarding price action ideas - FX, Commod futures
Compiled performance of a min-sized demo account (being as realistic to live soon) here: https://www.myfxbook.com/portfolio/hourlymarketfollower-semilive/2223758
Reaching low of the day, and support point for last month. Unlikely to break support, unless something fundamentally different with the Euro.
Additionally, price action states the worst bearish move for the day has happened - low volatility towards the downside. This has caused exhaustion, and price is resting. Resumption of a bearish trend to have low...
Hey everyone, been awhile! Been checking out other asset classes while taking a break from FX - came back with some new indicators to check against them - NOT to use them as signals!
As usual, price action only:
1. Support has been broken
2. Trend is down
3. Strong bearish candles in a row, we enter shorts with the downward movement
1. Intracycle trend happening here. Price action seems to indicate a ranging channel as highlighted by the big blue rectangle.
2. If it breaks the top, we go long. Vice versa if it goes through the bottom!
1. Strong momentum pushing price higher above support levels
2. If there is a break in price action here, we can opt to go short to trade an inner cycle. However, note that this would be trading against the larger trend at work!
1. Price does not seem to want to settle at support
2. We have some distance to cover to nearest resistance level.
3. Not the best Return/Risk, but we analyze for the move nevertheless as these are important levels. If it breaks past support, we will go short.
1. Strong support levels via big green candles near to level
2. We enter this trade slightly earlier (as we want to head to bed earlier than usual) while possibly getting the same returns over 8 hours.
Will update soon!
1. We are in the middle of a strong support zone, which had been surpassed as a resistance level some days back. We expect strong buying pressure here.
2. Lower timeframes suggest that buyers are active, pushing up prices.