The break of the trendline on the 4hr chart including the retest spike of the previous high looks like a bearish structure.
The 4hr candle closes with a big spike, followed by seen on the lower timeframes resistance for this height.
I'm in for a short and on 33% in profit I will move my SL to BE.
Since the previous high was about this point too, I'm convinced that with this bearish pattern at the same height we're about to drop.
My order is placed a little higher because I think we can get in with a better entry, the resistance on the left chart held on great and meets the resistance of the previous high.
Note that the horizontal lines are for my alarms,...
Here we can see my view on gold for the next week.
I'm seeing some support and resistance lines that are made clear with the extra charts of the daily and weekly.
Not going to enter this trade right now because I think the support will be tested first.
But if things look very bullish I will give the signal that I'm entering.
After entry on support we will pass a...
On the 1hr chart it looks like CHFHUF is forming a Head and Shoulder pattern, what would confirm a reversal at the resistance shown on the right daily chart .
A strong resistance on the right daily is tested with the head of this potentially H&S .
The combination of these makes this a great R:R trade to try, even if this is not forming an H&S there is still...
On this one, I'm going to trade a short scalp on BAC.
A resistance that have showed to be valid is tested again just before the weekend and after that seen some bearish conformation that it is not ready to break yet.
With a slightly high RSI at 70 I'm getting in.
The target is where I drew the support on the chart.
Thanks for reading!
Apple is in a downtrend and I'm going for a trade on this one.
As shown it's a small trade which should not take too long to reach.
Practicing on these trend trades with these so for me this is also educational.
Thanks for reading.
In this obvious uptrend we've seen some consolidation and we're at support again.
What we can see is a very clear bullish candlestick at support that shows us the buyers are ready to step in again.
We're going to join them this expected impulsive move as shown on the chart.
Thanks for reading and have a great trade!
It looks like the downtrend of the last weeks is coming to an end here.
We see the lower lows getting closer to each other instead of the bigger differences seen in the trend.
I'm trading this as shown with an entry right now.
Should be a small trade with a wider stop because of the wick seen last time, don't want that to happen and kick me...
This wedge on silver seems like the signal for an upcoming price reversal.
The lower lows in combination with a ascending lows on the RSI is something I've seen in my previous wedges that worked out.
Also the volume is descending what makes me think the bears are losing the pressure on this support.
The target is shown on the chart, just as the SL is.
In this Apple uptrend market we've seen the retracement so it is time for the impulse move again as shown.
Not experienced with this way of trading but we're here to learn.
I have the support drawn and the horizontal lines are the previous swing points that became support after being resistance before.
A small trade that can cause a lot of profit when...
A good wedge has been formed on the GBPUSD chart as shown.
Resistance and support are both tested more then a few times that shows they are confirmed well.
The blue line below is an active support since 2016, and is tested last week without breaking.
This all shows a bullish reversal for at least this wedge is possible.
First if all, why sharing a wedge that happened?
This is purely for educational purposes, I was following this wedge while not trading it.
I don't need the credits for spotting it or something, but I'm sharing this to look back in the future at wedges what worked out well.
About this one:
We see that this wedge was a good textbook wedge.
Why did this wedge...
The rising wedge we see on the 1hr chart EURJPY looks very solid, descending volume represents lower interest in pushing the price up.
The take profit is calculated on the save side by the "rules" of a wedge that the opening is the profit after breakout, I'm keeping a wider stop since I've seen many wedges that been published by me here getting stopped and then...
The channel USDJPY have been in now is coming to an end soon.
We see the volume dropping as it is still rising, the speed of the rise is taking off also.
Since the resistance as shown is at the same height my thoughts on this trade are that we are going down and break again from this channel.
On the bigger picture (1D) I'm seeing a triangle that I will publish in...
A bullish wedge is what we can see here on the lower timeframe (1hr), I'm trading this as shown on the chart.
We see the price closing in what means the bears are losing control pushing the price down over the buying up from the bulls.
This can be traded on the breakout, but with a narrow wedge like this there is more chance missing the entry.
You could also...
On the EURCAD chart we can see an ascending triangle.
As shown I'm going in with a very early entry. At the moment we have a slightly oversold RSI (29) and a support that looks like it's doing its job for the fourth time.
I will keep a stoploss slightly under the support but with still enough room for false breakouts.
Hope this will workout like my last ascending...