Not trading this but using to confirm my EU sell entry
-steep trend so weary (i personally don't like steep trends!)
-broken resistance now re-testing as support
Watching the DXY to show where my other trades will go for the week!
Trade with caution!
Buy DXY now!
Indicators: Bullish candlestick close, Exponential Moving Average
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This is a very interesting chart and I have alway been a great fan of this index chart. If you have a close look you shall see we have this ascending channel since May 2018 and never been broken since. Price action continously making new higher highs. Now that it has reached to the bottom of the ascending channel price action should reverse from there...
A decent opportunity for USDCAD has opened up on the 1hr . I will be looking for price to retrace 50% of that Bullish impulse. Should price move to that zone, i will be entering with 1% capital risked.
Both Stop loss and Take profit have been marked with a risk to reward ratio of 1:2.
Remember to always manage your risk on every trade because no trade is...
USDJPY is showing some great bullish potential and is currently consolidating ( trading sideways) and creating bullish divergence.
I will be looking for a bearish retracement of 50% of the bullish impulse move ( point 1 to point 2). Should price moved towards this zone, I will be going long with 1% capital risked.
Considering price is consolidating as such,...
Simple as you like really, price is currently at a strong support zone and had a really bearish day on Friday so we are expecting bulls to take over and push price higher and possibly to our resistance zone ( green box ) this is where we will be placing our TP.
Again see how simple and clean our charts are? why would you stress yourself out with 100s of...
It now appears that the Dollar is carving out an Inverse Head and Shoulders pattern. It is unconfirmed, however.
Taking out the recent swing low low at 93.81 would not invalidate the pattern. Conversely, taking out the swing high at 96.98 would imply a neckline break. The ascending neckline, if broken, implies a fast move up within a broad Inverted Symmetrical...