Not looked at Wyckoff concept for a while but watched a video the other day and found something similar after distribution. These guys were using an average level from accumulation/distribution. So with it being Christmas, I thought I would look into it again. This looks like it is setting up for a drop - we could indeed be in phase C of the concept. I would be...
I think it will make a triple top and probably fall. Sugesstions?
Finally gold has reached our area of interest. Will be entering once the trend line breaks and other confluences align.
No nonsense approach simple clean price action trading all info in picture apart from the strategy (use your own SL according to your risk management THIS IS NOT FINANCIAL ADVICE, MY OWN ANALYSIS FOR PERSONAL USE) Direct Message me for info. Follow and share for more clean ideas looking to make a change in all this guess work in trading forex, want to make...
Trade Analysis Based on FA+PA. With risk mannagement you will never loss. Thank you.
An interesting pair to watch over the coming days with Brexit now agreed and the European commission passing the deal through, the pound was expected to rally. Instead we've seen low level movement a no real sing of any strong direction and established trend. This morning we saw the FTSE open up indicating more stability in the market place, but as the financial...
Price was consolidating in the purple structure above and price broke structure i'm waiting fr price to close under the 200 ema and also under the 50% on the Fibonacci retracement. Also price just closed and created a 3 pin formation on the 1hr timeframe. Price could retrace back to the box structure above before falling more but we will see!
Today, GBP/USD has formed a double top: a classic bearish reversal pattern. I'm seeing this pair drop back towards the trend line, expect a drop to around 1.33 if the price keeps dropping like it does now. After the price hit the trend line, I'd expect the pair to go up again: GBP will regain it's value after a successful BREXIT deal.
On a mid-long term, GBPUSD looks pretty bullish on the daily and 4-hourly chart. For counter-trend traders who are looking for a shorting opportunity, you can wait for a shorting opportunity within the grey box, the candle should not break and close above the grey box for a valid countertrend trade or for harmonic patterns traders, the AB=CD pattern check back.
I know a lot of traders has these rules of not getting overexposed in a single currency, I am not against those thoughts, but you have to ask yourself if you are trading a fixed pair or you are free to choose what you feel like trading. If you are trading a fixed pair, just like me, my take on this is, if the trade setup within your rules and not against the...
PRICE action is stalling in this resistance area . if we see further rejections when markets open then we can take a nice short position for 200 pips+ if price does not make more rejection then we will not enter. dont be hesitant and enter the trade without seing further price action especially in the lower time frames. suggestion: wait for a 15m trendline break...
EUR/NZD has made a perfect channel over the last few weeks. With positive news of a Brexit deal, I'd expect the EUR to gain in value in the coming weeks. Combine that with the beautiful channel setup you see on the screen, and we got a recipe for profit. I'm expecting major selling resistance around the last high, so trade accordingly.
On the 4-hourly and daily chart, EURUSD displays a bullish trend, but on the 1-hourly chart, it has a sideways consolidation. Having my trading bias towards the upside, I would prefer that the market break and close above, and I can resume my bullish trade, but the truth about trading is that the market doesn't care what's your preference and it moves the way it...
GBP - What a great currency - I say it's like marmite you either love trading this currency or hate it...It's been a tricky pair due to brexit drama. I remember trading on demo account when Brexit was announced shorting it with a good well established friend of mine in Africa...It was great fun even on a demo you do learn a lot as yrs go by . Now I do have a...
If the current candle closes the way it is, there is a potential shorting opportunity for traders who are bearish on UK Pound. Let's see how the candle form up at 1800hr(+8GMT)
With a Brexit deal lurking around the corner could we see a push to the upside for GJ