I am off out tonight to celebrate an amazing week trading and yes i am going to have 1 or 2 beers after all you have to let your hair down sometimes ( although this is hard for me as i have no hair ) haha.
Area of interest is highlighted, we are favoring bullish movement from this area, fundamental news today has pushed price down but technical analysis will push...
Similar trade setup to my last post, We have a strong TL formed that keeps getting respected and price is at a key level.
So again this is another really good trade to keep your eye on to see if price breaks either our TL or respects it and breaks strong support, a break of either should produce explosive bullish or bearish movement.
This trade is like having a...
See how keeping thing simple and your charts clean can lead to spotting more setups and save you time? Half the information on the internet is purposely put up to confuse people so they loose money in the markets, if you look on the internet people will tell you that you need to use loads of different indicators to succeed in the markets, this is BULL#HIT!!! Price...
Here we have a nice setup on GBPAUD pair. As you can see this pair recently moved beyond 50EMA and created a new high followed by a nice pullback which came close to EMA and bounced with a bullish engulfing candle which suggests it is on course to move higher to make at least a double top if not more.
I have therefore gone long on this one and marked tp...
We can see a strong resistance turned support line ( green line ) price was using the as good strong support recently but managed to break through and now is using this level as support.
We are expecting price to bounce and make bullish movement and possibly hitting our TP area or resistance zone ( green box )
So go grab yourself a nice 150 pips on this bank...
I have been waiting for this setup for a while now. Now that XABCD step has been completed and the price action supported it exactly how it should be. Hence we have an opportunity to go long on this. I have marked tp and sl as well.
Let me know your thoughts.
Good luck and trade safe.
We are looking for a possible retest and bounce of key support before we jump in this trade, if we do get the bounce then we could see a possible bullish rally of around 200 pips.
But you must wait for the retest and bounce because if price does break this strong level then it could sink.... so just be patient ;p I'm sure ELVIS said ONLY FOOLS RUSH IN ;p