About meI'm an aspiring trader from New Zealand, I like triangles, S/R lines, and channels. I believe the market is highly fractal (patterns within patterns), and using this to your advantage can make you more confident about your trading.
I only trade FX.
Joined a year ago
Auckland, New Zealand
This upward channel recently broke out of an downward channel. I strongly expect the pair to continue moving downwards, we can see evidence of weak upward force since the last bounce off the bottom of the channel was not strong enough to touch the top of the channel. 1.63:1 risk:reward ratio is pretty good.
this is a clean setup, it's bounce off both lines 3 times on each side, thus affirming the diverging triangle. I expect another push down to the support line towards the long term MA, but there's also a possibility of it going upwards.
there has been a 2 month long descending triangle on this pair and just recently it's made a nice clean breakout within a narrow channel. this might have been a late observation but the pair has a good chance of continuing upwards.
This is a great opportunity to catch a 2:1 risk to reward ratio trade on a downwards descending channel. The trend has reversed it's direction downwards over the last 2 months which is in the direction of this trade.
This resistance line has proven itself by bounces 3 times so far and i expect a large move towards the upside.
We've had a multi-month converging triangle on this pair, and a large breakout just to the left of this idea, now we're seeing a correction on that breakout which should continue in the upward direction.
We've had a multi month rising channel on the EUR/AUD pair, and this is the first breakout & correction that has happened. After the price has moved out of this corrective channel, we could expect to see a large downward run happening.
I'll be posting updates on what trades i'll be doing.
The pair has been in a small channel that has lasted 1.5 months, The channel doesn't have many bounce points so it's not a strong as i'd like. The downward channel within is much more significant as the price has bounced 3 times off the top and around twice on the bottom side.
Buy at the green line, sell at the ...
This is a one to watch, i don't have any trades at the moment, since the price is halfway in-between the top and bottom of the small convergence triangle.
If the price breaks out the bottom side then i would put a sell order on the red line, if it breaks the top of the multi-week resistance then i would place a ...
The pair has recently (within the last month) broken down out of a multi-week rising channel, and i expect this rising triangle here to just be a correction in a possible larger downtrend.
I'm expecting a down-break out of this triangle, but from my experience it's always easier to just trade the bounces within ...