Whenever you are looking at a technical level, always ask yourself the following:
- Am I buying at a potential bargain/wholesale/discount price? (supply or demand zones)
- Why is there more likely to be more supply/demand orders at that area? (new traders entering/traders taking profit at horizontal, diagonal & dynamic support/resistance areas)
- What are the...
Hopefully, my annotations are simple enough. It is classic Sam Seiden but with a twist from my own experiences as a trader. I entered this trade when price was in the supply zone and i will be looking to close it in the next 2 hours...depending on the candle formation.
The GOLD has created a fresh new demand yesterday, this demand seems like a great continuation Level of buy position, the price jump from that level very strong and fast which indicate there are many Orders still waiting in that level. If the price will return to that demand I'll buy there.
-We saw the historical 30+ year ascending trendline hold up as resistance after a fakeout spike higher, red 786% & 618% bearish fib levels are prominent & also holding
-Price is now breaking a medium term ascending TL & has retested successfully
-Recent Weekly candle close saw a confirmation of bearish pressure
thus I expect a test of green 618%...
30+ year Bull trend, 618% Fib level holds up quite well.
By late summer months 2019 a test of 1.28-1.30 is on the horizon, as we near a ECB Hike. The higher low has formed on EURUSD and we are now bullish on the pair medium to long term.
In otherwords, will be buying swing lows & seek to rack up buy position trades for a significant extension higher.
We can not use fundamental analysis without technical analysis this two things need to do together.
If we worry about the war and pray the gold price go bullish moving but the big trend is moving down
"what is the different"
Volume and Supply Demand zone is answer every time we trade, we should have a backup plan.
another chart today, this time it's CADCHF's turn. As you can see the daily chart is giving us multiple reasons to look for long opportunities, and pay attention to the "look for" verb, it doesn't mean we're going to take the trade with no confirmation (since we're on the daily i don't trade patterns on the daily itself). Instad, i've outlined the...