We have been looking at the resistance zone ( red box ) for a couple of weeks now ( if you see our previous USD CAD trade idea ) and we have been waiting for price to retest this level... price has finally done this today so now we are looking for movement down to our support zone ( green box )
Again we are keeping it nice and simple and not trying to fry your...
This setup is so damn simple it is unreal... yet most people wont see it as they have been taught to use all these rubbish indicators so they get blinded by the b#llshit!
People want you to feel like you don't know what you are doing in the markets so you think you need help and pay from there services, then when you do join they teach you completely the wrong...
Our next area of support comes via our red box, this area has been used as very strong support and resistance in the past and this pairing respects key levels very well, this is a very good pairing to study if you are new to trading.
So where our next support level lies price should also meet a strong trend line, we will be watching price very carefully around...
As you can see we have marked on our charts a very strong support level, this kind of support level goes the gym 10 times a day and sprinkles steroids on it cornflakes ( nothing wrong with that ) ;p
We have pointed out for you with purple arrows times price tried to break this support but failed and bounced, now price is nearly at this steroid support we are...
You can see our support and resistance zone ( red box ) that is marked out with arrows to show where this zone has been respected as support ( orange ) and resistance ( purple ) Now price is currently hanging around this zone like a drunk idiot who doesn't want to leave the bar at closing time because he has spent all night trying to hit on the bar maid who is 20...
Strong resistance can be seen, and the current candle is at this level now, price going into this level is not overly strong so we can only see price respecting this level and making bearish movement.
Get on this trade and thank us later :p
See how easy trading can be? keep your charts simple and clean and you will spot good setups.
We can see a clear bounce off key support ( green line ) which we had an order placed at, we also entered another long position at our purple line.
We can see this trade picking up 100+ more pips as recently this pair has been respecting all our key levels.
Simple clean charts = clear vision ;)
So we are long on this pairing... get on it.
We can see that price has respected this lovely trendline TL many times before, and we are expecting price to continue doing this... So we are going long on this position with a possible very good risk to reward target.
Get on this trade and thank us later... mines a vodka and redbull :p
Price hit resistance at the top and is now following a lovely trend line, we expect price to follow our TL down into our green zone which has previously been used as a key support and resistance area, so this is where our TP will be placed.
This trade will give us 100+ pips, but if you take this trade please remember to use correct risk management.
So go SHORT...
Short opportunity, you can see price has touched our resistance line a number of times ( purple arrows ) price is currently at this level now and we can only see downside movement... so get on it and thank us later :p
We have a lovely support/ resistance level that has been respected many times ( orange arrows ) and also a lovely trend line ( TL ) that also has been respected many times, price is currently at both of these levels and when you add in the current weakness of the USD this makes this trade setup a triple threat, so we can only see further upside movement.
I'm going to stop wiping your ar@e on this chart analysis because I can :p
I will give you this chart and if you cant tell what way price is going to go then take yourself back to the stone age and go out hunting for your prey with a big wooden bat or stand around scratching your balls because you cant figure out how I am so good when I don't use chart...
Orange = support
Purple = resistance
It is crazy how well this pairing respects strong support and resistance levels, if you are a beginner then defiantly stud this pairing and GBP CAD as they show more respect to these levels than any other pairing.
Now we set some orders at both these levels and price has just touched our sell order so we are now live and will...
Price failed to take out the most recent high after days of bullish movement, we can see price moving down to our target area ( green box ) this trade will give you roughly 130 pips... Thank us later ;p