Here is a long trade I have taken on EURAUD but unfortunately did not manage to post to trading view before my entry. I will cover the basic analysis for entering this trade below:
- Descending Wedge Pattern
- Price is Squeezing
- Rejections of 1.57/1.57150 support zone
- Anticipation of the wedge breakout
- Gold price...
Recently we posted our Cable analysis
The weekly chart clearly shows a better picture
Fib levels on the channel are correlating and can be useful
though many traders dought using a FIB in this way , it can be helpful as you can see levels here are holding
Use the FIB extension for further targets and pivots
if we break above $5000 and go test the previous low then we could see BITCOIN test higher levels.
if we stay below previous low then would could to the other alternate playout.
waiting to see with more data when it comes out.
I have recently had a lot of success trading the weekend market gaps forming on a few major FX currency pairs so I thought I would show you another example and explain it in more detail.
Market gaps most commonly occur when price moves quicker than the market or, in the case of weekends, when the market is closed. Things happen in the market over the weekend so...
Here is another example of a very simple yet effective day trade that can be learnt and used on almost any financial instrument, not just FX Currencies.
This strategy relies on the ability to spot a trending market in the current timeframe and then utilises a few key trading tools to identify a high probability trade entry.
You will need:
Here we have 3 different timeframes open ( 1D, 1W and 1M ) On the same pairing EUR USD, each chart has the same trend line ( TL ) and same support level marked on them, You can see how important it is to put these level on your chart and keep them there because if you look at the 1W chart you can see that price respected our support line in 2003 then fast-forward...
Looking for a pullback back down to .68300 before jetting off to new highs labeled on my chart. Will update on this. Clearer understanding on the daily tf screenshot.https://www.tradingview.com/x/fZHAFBYh/
EW completes @ 0.883.
Retrace already clipped that but should
retrace fully over the next couple of days.
Watch what happens in the yellow box.
2 possibilities, depending on the wave count
from the 8th of Oct.
Orange or blue, my opinion, blue,
support is strong around 290...
Let's see how this unfolds.
ETH - CHANNEL BREAKOUT TRADING STRATEGY
Please LIKE and COMMENT below if you find this idea useful ^^
All the best,
Vincent D. Ng
The idea presented is solely for educational purposes and does not constitute investment advice.
Investors should have personal risk assessment before any attempt to trade. We is not responsible for...
It is said that Ralph Nelson Elliott developed the Elliott Wave Theory in the late 1920s. Elliott believed that stock markets, generally thought to behave in a somewhat chaotic manner, in fact traded in cycles.
Elliot Wave has strong links to Fibbonacci as this video will explain:
Wave 2 of 5 is currently unfolding with a target in the 7.85 resistance area box. It is likely to last for another 2 months until it's termination. If that scenario holds, a long wave 3 it is likely to unfold and give a good chance for a bull market to last for several months.
Wave 3 can start unfolding before next year's elections which is an extra boost given...
We are presently in Correction wave B.
1. Previous Resistance has now become support as shown on the chart by the Moving average.
2. RSI has bounced twice previously at this point.
Trading carries a high level of risk to your capital and may result in losses that exceed your initial deposit....
-Hello, hope all is well. so Gold dropped really nicely today, i would like to see a pull back into 1300 before going any further down.
-This break through support could also just be a fake out. we'll see what will happen.
-I would like gold to meet 1250 soon.
This is just my idea of Gold. Have a nice day!