I WANT TO START FROM THE VERY BASIC.
EURUSD - LONG If you take a step back and look at any currency pair on a greater timeframe you will have clarity on the overall market direction, and be able to identify key points of support/resistance based on historical price action, which logically are more respected as the volatility of the market is lesser. Once you have identified these areas, proceed...
Aks appears to be forming a head and shoulders or perhaps double top. The weekly RSI closed at 100 showing that this price is severly overinflated. I expect a pullback into 3.26, with support at 2.75, and then 2.50.
STOP LOSS ABOVE X MQL5: www.mql5.com
1. MA Above price 2. Market structure blue box resistance 3. 0.382 Fib level.
IYM has been perking up but metals drags it down. This suggests: Long IYM shares Short XME using options - a synthetic short (buy the puts and sell the calls - same strike) Ratio of deltas should be around 3 short XME deltas to each long IYM delta
This is my first publish. I had been trading binary options on and off for a few years. I had a good win rate I just lacked discipline. I turned to learning forex not that long ago, taking what I knew with BO and applying it forex is a great fit for me. I've got it down. I hear everyone say you gain experience by losing. So don't be afraid to do it. I'm not...
As you know, Drawn SR of strong S/R levels on chart - 61.8 reversal currently in action.
At Friday's close, the S&P 500 was within kissing distance of it's ATH. The bounce from the 10% "correction" was so steep and sudden that I'm not sure if we can actually classify it as a correction. The Stoch RSI looks ready to plunge, the MACD looks like it's getting ready to follow suite, but not quite there yet. The RSI is confusing as it looks like it might be...
My first chart, altough it's basic, i do believe that we're in a very solid resistance/support interval up until some unexpected condition.