HERE WE HAVE A FOLLOW ON FROM THE INITIAL ANAYSIS I DID EARLIER IN THE WEEK ON THIS PAIR. PRICE RESPECTED THE AREA AS ANTICPATED HAD A PARTIAL MOVE UPWARDS AND CAME BACK DOWN. IF YOU LOOK TO THE LEFT OF THE CHART WE HAVE A CHNACE FOR HISTORY TO REPEAT ITSELF. PRICE HAD A RISE UP IN THE SAME AREA TO A VERY SIMILLAR EXTENT CAME BACK LIKE IT HAS NOW (CURRENT) AND...
The 4-hour death cross on the 13/48 EMA has been a reliable indicator this year as we have just entered one today.
The previous death cross on this time frame has produced a 32% drop over 8 days
The crosses prior to that were 18%, 13% and 5% moved down. All four crosses average out to 17% over 8 days.
You can find this indicator here on TV under 'True Golden...
BREAK AND RETEST
1.WAIT for a 4hr close above resistance zone
2.WAIT for retest back into or close enough to the zone .
3.Wait for some sort of rejection on the 30min or hourly.
4. Wait for price confirmation
The trend is your friend, it makes no sense to trade against it. my analysis is done according to momentum.
stops should be adjusted based...
Taking momentum into account and change of obvious market structure it only makes sense for my analysis to be bearish.
Ever heard of the phrase, trade with the trend? yup you should really use that phrase to your advantage.
1.Momentum is down so im looking for a break of support zone.
2.Preferably a close below the support on the daily but if i get 4hr...