Drawing Legend :
Red Rectangle: Resistance
Blue Rectangle: Support
Yellow/Orange: Bear/Bull Activity
What I see on this pair is possible support near this level since before there was a bullish spike; just look left.
We are viewing the start of this month ONLY to test our theory. This is not a trade signal and is for educational purposes only.
My bias for this currency pair is LONG . Why you ask?
We traders know the market can only do a couple of things, for sure one is to go UP(Rising, Buyers in control) and the other is DOWN(Falling, Sellers in control), few traders know the market also goes SIDEWAYS(Consolidation, no control, some see this as "Ranging").
What you are seeing is Support &...
This will be my first "public" post reacting to news events beforehand - using a few key indications that make up my assumption.
As you see here on this chart, marked by the cyan up arrow, my prediction is LONG for this pair.
What did I see to make this choice?
Divergence, Support and Resistance, RSI Level, Market Structure and Candlestick Patterns.
You may ignore long/short indicators as they are used to see what a trader/institution might've entered.
The previous close is showing Bullish movement. We need a valid break and retest to trade the long indicator near my prediction indicator.
Note: This is not a trade signal and should be used for educational purposes only.
18th of March till 3rd of October remained bullish with a "railroad" formation at the high labeled.
Lower highs following the trendline gives us nice confirmations which ends up playing out nicely.
Rectangle boxes are were I see price halting/reversing or re-entry areas.
The short indicator is NOT a signal but an assumption of price movement.
I see an overall bullish momentum building up on this pair.
My indications of bullish movement:
Higher Lows/Highs being created
Support being shown on trendline
Always a personal preference, I assumed the RED levels are where it best to react.
Again, personal preference, although if unsure I would look towards the YELLOW ...
Based off of what I see, price is near a level of resistance, top of a channel, and is following the trend direction.
What if it goes bullish?
For this trade to be a bullish move, price would have to retest above the current level, and hold above with some candlestick patterns for confirmation.
There are a lot of lines, don't let this scare you...
Based off this chart section Oil is bearish :
- Price broke out below
Price is near the trendline and resistance level which gives confirmation of a trend/pattern.
We see from the chart price has been moving in a downtrend, recently consolidated for a bit, then broke out and is now trying to find support.
Can we see a LONG run? Let's find out.
What we would need:
Retest of the trendline
Support being shown
Price Action/Candlestick Patterns
The yellow vertical line is a visual of where we are trapping...
I am going to really buckle down this next week to bring you all some quality analysis on the Major Pairs we all love to trade, well I do anyway, so with that being said let's have a great time trading till the end of this year!
Comparing the indicator and price movement - seems like the shorting it coming to an end - and the buying is about to commence.
The indicator has shown the downtrend movement, with candlesticks ending with a body on break of average, which confirms that movement.
To confirm the upward movement I would like to see the same thing - stronger bullish body's - along...
The displayed text is what I would like to see if this market is shorting currently.
The indicator below shows price is below the average so I want to assume it's going to reach for the aqua line. In this case would be shoring - and the purple line on the indicator is resistance - which currently price is at a level of support/resistance and a trendline so to me...
What I see in this market is a downtrend .
We can wait for it to reach our Stop Loss level (yellow dotted line near current price) and then enter placing our new Stop Loss above the 50% Retracement.
If you want to enter the market now this is how I would like the market to play out:
Push to 23.6%, consolidate/extend to the lower yellow line. Dashed aqua line...
The higher time frames are showing bearish signs which gives me some comfort knowing price is reacting similar in the lower ones.
Below we see three green boxes, around these areas you may choose to take profit. (Else follow indicator)
Note: Indicator is just a visual - use proper risk management.
Leave comments if any questions.
What I think this pair will do is drop down to test the EMA below - using the solid horizontal lines as support/resistance areas.
If this breaks the current yellow EMA - I want to see a retest on it - giving us a double bottom in that area to see if this bullish run will continue.
Blue(Over Level)/Red(Under Level) Background = Over Bought and Over Sold Areas *...