About meI am a purely technical trader who uses classic chart patterns, price action and momentum analysis.
I specialize in early trend-following and I am a swing trader on the 1H, 4H and Daily timeframes.
You can pull up any chart and you can easily come up with 100% legit reasons to either buy or sell the same market.
What do we see? Is this a cup and handle and time to buy or is price struggling to break resistance and we should sell? The 1H shows already the start of a downtrend. But the Daily shows a new uptrend. The RSI is pointing down but the FIB ...
Rolf here and I am starting a new video series where I will regularly do new videos about charting concepts, explain indicators or also cover other trading topics.
Today, I started with trend strength analysis and how to read momentum with 3 important tools
1. 2 Moving averages
Look for a breakout of a range and a separation between a longer and ...
Let me show you a great feature in Tradingview that allows you to analyze currency strength and compare different markets.
By setting up a currency strength chart, you can find out which market is leading, who is the strongest mover and which market is the worst performer.
This can help you with market selection and also help you understand what is going on in ...
This could be a big move for FX traders as the US Dollar Index is approaching the neckline of the recent Head & Shoulders pattern.
A sustained break could end the sell-off that started with the beginning of 2017.
No need to rush in the pattern! Give it time and wait for a real breakout and confirmation.
Good chart reading and technical analysis do not have to be complicated. A trader should focus on a few key principles when trying to understand a price chart.
In my trading, I have stripped away everything that doesn’t provide value and I have optimized the points on my checklist that I use to read price charts. Below you see the current EUR/USD chart on the ...
The EURO has put in a temporary consolidation ahead of the ECB event later today.
Once you zoom out, you'll see that there is significant room for the EURO to move higher.
But a break below 1.19 could start a new bearish phase and the triple top shows temporary exhaustion of the bulls. There hasn't been a bearish phase in quite some time.
Very interesting to see the setup on Kiwi right now and we have a bullish pattern against a bearish pattern.
Will the longer term pattern dominate the shorter pattern? Only time will tell but the real signal will leave very obvious clues that will make it 'easy' to get on the right side of the market.
I don't trade stocks but the price principles are the same across asset classes and once you understand how to read buyer-sellee dynamics, you will be able to interpret any chart.
The DAX broke it's 20 SMA a while back and is about to confirm the retest which is an important pattern.
A break of 12,000 would open the room for more downside and it could start a ...
The S&P is challenging a recent trendline and is also testing the previous highs.
There is a longer term trendline waiting below.
A break could open the room to 2400.
A complete short reversal would happen, if we break 2400 to the downside as the last serious swing low.
Those are the 'easy' charts that are so hard to trade.
Right now, it "feels" like the price has a good chance of breaking lower after the long trend and the current range. Many traders will jump the gun and enter way too early. Of course, the short breakout looks like a no-brainer after the fact.
FOMO is causing losing traders to get in too early and the pros ...
The S&P made a new all-time high but Gold is showing us an inverse Head and Shoulders pattern, indicating more potential upside pressure.
1240 is the level bulls have to watch since the resistance could easily turn into a place for sellers to get interested again.
The AUDNZD is following and showing a very similar pattern to the one on Gold.
Price moves in waves and the GBPUSD -0.08% shows that nicely. Always wait for the last low to break to get the confirmation and don't try to get in early before the low is broken or you risk running into a reversal. Always go WITH momentum.
The move lower also coincides with a classic Fib target extension.
If you just learn one trading pattern, it must be the head and shoulders .
I think there is really no other pattern that provides such a high probability opportunity. It appears on all markets and on all timeframes.
In combination with a good neckline trendline , that's all you need.
Dozens of people messaged me about the NZDUSD and when it's finally going to sell off!?
My answer: I don't know and I don't care.
As long as price keeps moving higher and is not able to make a new low, there is no reason whatsoever to short this.
Of course, with all the rejections at the top, it does look tempting but I am 100% certain that many people lost A ...
As a swing trader, patience is your greatest asset
- you need patience when mapping out a trade
- patience waiting for the right setup
- patience when you're in a trade
- patience when it comes to taking profits
I have been following the TL setup for days and it's still not giving up.
Most people will short on the way up and realize so many losses that once the ...
The NZDCAD is approaching an important area where the trendline and the previous support/resistance meet.
We are already seeing some strong selling momentum but as long as price keeps trading above the trendline, there is NO reason to short this.
Once the trendline is broken, the short momentum could accelerate and lead to a new trend.
It's just early Monday ...
I have been waiting weeks for this to happen and pointed this out to our pro members during this week's Sunday watchlist and yesterday in the forum.
Retests often happen after strong breakouts. Price does not move in one single line so give it time to work out. The current momentum clearly indicates a shift in buyer-seller balance but price does move in waves and ...