after pull back expect a sharp drop make sure u check it on a computer screen
A bull flag has just formed right after a strong impulse from a reversal. This may be a part of a descending channel that is still forming, but a head and shoulders formation is possible. This may also be an elaborate correction channel. Steps To Take Wait for the structure to form Set stop loss at breakeven Wait it out
Plenty of activity in the markets to start the week! AUDNZD moved nicely. There was an opportunity for a short on the second touch of the outer trend line (reversal high test followed by bearish engulfing candle on the 4HR chart) D - Still a couple of hours away from the close but price is in an overall valuable area as it is just after the third touch within a...
The pair NZDUSD has been volatile for the past week, which has hit many of my stop losses. It has finally touched for the second time in the bigger structure, which we then can predict it to move to the upside, effectively completing the structure by touching for the third time at the top of this picture and potentially breaking out. The bigger structure is that...
In a high value area on the daily, currently in the area of third touch. First impulse in the high value area so looking for the first correction to enter. Four hour time frame is also corrective but waiting for price to break below structure.
corrective nature. multiple touches on both bottom and top of ascending channel. Engulfing bear candle on the hourly. 20 pip stop.
USD JPY crossed strong level | Long
Market is approaching bottom of 'descending channel' within major descending channel for potential overall swing LONG.
Aloha Kakahiaka! Hello and good morning! I set an entry order last night on NZDCAD which triggered me into this breakout of the pattern. -could be forming a false breakout out of the structure and fall back into the structure. (possible) Expecting a slow day in the markets; Labor day; US banks are closed. D - Daily is near a double bottom - but it doesn't...
Overall, the projection for the pair was downwards due to the HTF. On the 1HR we noticed, after we broke out of a larger bearish flag, we impulsed and then formed a 1HR bearish flag, got in on the RRE as the flag hadn't formed the third touch for a RE and the pattern was too tight to warrant a RE as per my trading plan - Instead we rejected the double top within...
Looking at the overall structure, I belive that, technically, Gold could be looking down on the short term scale. I will be waiting for a confirmation of this bearish flag pattern. I will wait for price to go up for a third touch and on this touch I will want to see some sort of corrective move for the sell.
On the Weekly chart here we see an ascending channel where price movement has not quite yet touched the support line. On the 1HR chart, we see another ascending channel which seems to have been broken through to push price lower. This is where I originally had though of placing my buy order in hopes of catching the movement back up to the 1.97400's. But now...
As you can see from the , there is a breakout of the ascending channel on the 4HR chart. We can watch this pair closely to enter the market on the pullback, which does not seem likely to touch the trend line.
We saw a great pullback buy opportunity today in the NZDUSD market! This was a great scale in for those of you who entered the original trade on 6/10. This is also a great trade if you are just entering the market for the first time. The way I see this, you can profit from this twice. You could have placed your buy limit at 0.65622 which would have been placed at...
Hello, everybody, I hope you have all had a great day today. I'm just getting home from my restaurant job and reviewing/managing some trades I'm currently in. AUDCHF is one of those trades. I've gotten better at catching myself when I'm about to place a trade for FOMO but sometimes I still fall victim. I entered the market at 0.68565 originally with a 395 pip...
Its interesting to see how certain bias's can creep up on you while trading. If you'll remember yesterday I published 2 ideas on CHFJPY. Originally, I was under the impression that the market would drop as soon as it touched resistance and reverse down to the bottom of the Daily channel where we would have set our original Target. Then, Price broke through the...
Earlier today I posted an idea about how I think price action breaking resistance could have acted as a false breakout. After reviewing the market again, I managed to find something I wasn't seeing before: There is a pretty clear descending channel on the Weekly chart. This breakout can certainly be a breakout on the weekly timeframe and will play out over...