Hello, as we can see price has been bullish and has inevitably reached a resistance zone, which has previously proved to cause reversals. This could be one indicator for prices to drop. Secondly, I see a shooting star that has formed on the 4HR timeframe, suggesting lots of sellers are present in the market. Any thoughts or constructive criticism please leave below!
The entry price, stop loss (in pipettes) and take profit are shown on the chart itself.
Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress.
My name is Al, I'm 40 and from the UK.
I've been trading for a few years, my key goal is to automate my strategies and remove as many decisions as...
#AUDCAD 15 04 2021
The price touched this line at the point 0.997 and, as expected, turned into a fall. During this fall, the price was able to consistently break through the 2014 resistance line at 0.965. Then it worked out the correction and fixed on this line at the point 0.962. Where is she now. I expect the price to resume falling after fixing on the line....
Quick dinner time idea for today.
Our strategy says it's time for a short on GBPJPY
Working the H1 chart here with a risk reward ratio that is just shy of 1:2.5
Have a look and lets see where this trade goes.
I never recommend jumping on random trades as it's not a consistency trading structure to implement.
Any questions on the strategy in...
#EURUSD 13 04 2021
The price of the currency pair remains in position as at the beginning of the week, which means that at the moment I continue to expect a fall. Let me remind you that the price has been falling since the beginning of the year from the resistance point of 1.237. During this fall, it came to a strong support at 1.170, where two lines intersect...
Late trade here but then again the forex is a 24/5 market.
Our strategy doesn't sleep either and it says a long trade is valid on EURNZD.
Working the 30M time frame here to a risk reward ratio of just over 1:2.
I don't have to sit at my screen constantly with this strategy as alerts can be set for when trades present.
Or if you want the...
#EURUSD 12 04 2021
As you remember, since November 2019, the price of this currency pair has been forming a strong upward channel. However, the range of oscillations inside the channel is quite large, and, as a consequence, additional lines of support and resistance are also formed inside. At the beginning of the year, the price bounced off the upper border of...
#GBPUSD 12 04 2021
The price is again not weak from the main support line on the chart, which has existed since May 2020. Let me remind you that after the price touched this line last time - in November last year at point 1.285 - active growth began. This growth stopped only in February this year, the strong resistance zone 1.417, where the lines of 2018 and 2013...
#EURCAD 12 04 2021
Since December 2012, the price has been growing in an uptrend. However, breakouts do occur. after the last breakout, the price returned to the trend in February 2020. Within the trend, it managed to rise and followed the strong resistance line of December 2012 twice. After the second touch - 1.600 - the price began to fall. During the fall, the...