talk about a croc of shizza. if there is one thing i learned from trading, it is this: don't use fancy systems to make good returns. keep it as simple as possible. you don't have to trade. in fact you can always invest and double down when the market is wrong about price. you simply cannot predict price action. trading psychology (if there were such a thing) will...
The area in the red circle represents past structure, support level which could possibly become resistance with 0.3 Fib retracement and Over-bought market.
Good entry point for short.
If breaks, all signs available for expectations of a new upward trend.
Top-down analysis
Monthly: The price is getting selling pressure at around the monthly resistance area
Daily: there is a daily demand zone just below but we have a room to arrive there
H4: and it just created a H4 supply zone.
TP1: 1:1 Just before h4 candle tail
TP2: just before daily demand zone
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Turkish Lira aginst US Dollar has been running between the monthly demand zone (2.7974-2.5604) and monthly resistance area. As i expected, we had 2 nice reactions both from demand and resistance zones.
Soon after consuming either of the monthly areas, we may see an abrupt and impulsive move whichever zone breaks first, probable outcome being upwards. ...
We have tested monthly demand area (3.0824-2.8456) once and then, as we expected we got a nice selling reaction from monthly resistance area (3.4791-3.3764)
Right now, price aciton is telling us that we may break daily supply or weekly demand zone easily by virtue of spending too much time to form both of them. But yet, if price reaches weekly demand zone, i...
AUDUSD may give us a buying opportunity that can emerge once in every 2 or 3 years. After selling pressure and losing value for 5, two things happened at the same time:
1- We have seen Monthly Trendline reached and had a reaction upward fomr here.
2- Also, the price managed to break above 0.7385 level and has activated monthly demand zone(0.72425-0.68270)
We...
Breaking through the support -> Short .
By taking a close look at the candle stick chart, you can see "Hang Men" Candles, which signals a trend change.
USDJPY will first run out and than will change to a downward trend . If it than going break through the resistance, which originated in October 2015, downtrend will be confirmed!
GBPAUD currently hitting resistance line of a bearish trend since September last year.
Taking Fibonacci from the highest point of the current trend (in August last year) and lowest point from April this yea), it hits 0.3 Fib level.
Structure + 0.3 Fib + Over-bought daily chart, all indicate short.
Good luck!
