Green lines for entry & Red for stop loss In this example i have used patterns that may happen in a bullish trend but the same patterns inverted can be spotted in bearish trends too.
Wait for a break below the most recent higher low . Once you get a break below, watch for a retest of that level ( may create a bear flag on the lower time frames which will allow you to draw a trendline; entries on break of trendline will be the safest).
How do you trade with Correlation? You can trade on forex pair correlations by identifying which currency pairs have a positive or negative correlation to each other. I have identified above the 3 main correlation pairs which correlate best with each other. In the conventional sense, you would open two of the same positions if the correlation was positive, or two...
High-Beta – AUD, CAD and NZD benefited from rising commodity prices on Tuesday, as markets set aside concerns about the spread of the Delta coronavirus variant. The notable outperformer in the commodities complex was oil prices, with WTI approaching $68 per barrel, up almost $2.50/+3% on the day. Indeed, following today’s strong performance in WTI, TD Securities...
Good morning, traders! Today we will do an explanatory post on how a Multi-Timeframe Analysis (Weekly-Daily-4H) can be used to take a trade. The benefit of this is that we will be trading taking into account the short, medium, and long-term behavior of the price, which gives us a higher success rate. Many times, we take a trade focusing only on one timeframe, and...
Here is a chart of EURCAD. There were various opportunities available both short term and long term. Once you can identify chart patterns, you can easily anticipate where price will go next. A great chart pattern that I always use is flags - Bull Flags and Bear Flags. In the chart you can see that many times price impulsed and then created a flag and then carried...
📚 LEARN MORE 💰 EARN MORE With ForecastCity What is a Range-Bound Market? A range-bound market is one in which price bounces between a specific high price and a low price. The high price acts as a major resistance level in which price can’t seem to breakthrough. Likewise, the low price acts as a major support level in which price can’t seem to...
CFDs are financial contracts between a broker and trader that pays for the difference in the settlement price between when you open and close a trade. If a trader expects the currency to move higher, they will enter a long position with a specific lot size. Conversely, if the trader expects the currency to move lower, they will enter a short position, expecting...
There are seven ways to improve the art of speculation. Latest cheatsheet: 1. 🔎 Find your price driver - build a macro argument based on probabilities How good is the quality of the price driver? If I look at the BOE and ECB, how wide is the divergence? We are looking for chalk and cheese, opposites attract. 2. 🖐 Execution is important - most get stopped...
USDCAD is coiling for its next move. The higher lows suggest strength, but USDCAD needs to secure a close above 1.34200 to open the door to the 1.35000 area. Keep an eye on 1.33720 in the event of a pullback. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . ....
USDCAD is coiling for its next move. The higher lows suggest strength, but USDCAD needs to secure a close above 1.34200 to open the door to the 1.35000 area. Keep an eye on 1.33720 in the event of a pullback. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . ....
Being a retail trader isn't so bad as long as we can utilise all of the tools in our belt correctly. (Trendlines)
Hello Traders, I expect the price to push to the support price level or with more correct words I expect the price to push to the red Ema. Nevertheless, the EMAs generally created by the price so its not likely the price to reach the red ema so quickly, but you get my tutorial that I want to do through this picture. The charts illustrates what you can see,...
USDCAD is falling like crazy. here are the strongest key weekly support levels to catch a pullback: support 1 - 1.33 - 1.335 area based on a major rising trendline and a horizontal structure support 2 - 1.30 level based on a horizontal structure Closest key resistance: 1.37 - 1.38 area based on a horizontal structure also, many questions about the...
USDCHF keeps contracting within a classic symmetrical triangle formation. with a sequence of lower highs and higher lows the market is clearly trading in sideways. quite soon its gonna break and the side of the breakout with high accuracy will show as the future direction of the price. in case of a bearish breakout, the next goals for sellers will be 0.96 /...
I hope you enjoy this tutorial. I use RSI to confirm all breakouts. I was able to capture roughly 90 pips using this method today. I hope you enjoy! Feel free to comment below.