theforexguy

theforexguy

The EURCAD daily chart is in a clear downtrend. The market has retraced back up to re-test a previous swing high resistance level within the trend. Price respected the resistance level, rejected moves into higher price sand forced the market to close below it's open price for the day - creating a bearish pin bar. The market is now breaking the lows of the pin...

theforexguy

Crude oil tested a critical support level on the daily chart last session. This market has experienced such an aggressive sell off, it has forced price to accelerate away from its mean value - leaving that mean to price gap. Generally when these gaps occur, the market likes to 'sling back' and fill the gap between mean and price which is knows as the 'elastic...

theforexguy

Crude oil tested a critical support level on the daily chart last session. This market has experienced such an aggressive sell off, it has forced price to accelerate away from it's mean value - leaving that mean to price gap. Generally when these gaps occur, the market likes to 'sling back' and fill the gap between mean and price which is knows as the 'elastic...

theforexguy

Waiting for this old support level to be retested as a resistance level. Waiting for a bearish price action signal before considering a short position.