In this idea I show you how I trade swing failure patterns. This is good for any time frames but lower time frames are preferred. Very simple idea yet works pretty nicely. Let me know what you think.
If price doesn't skyrocket to the first relevant structure to the upside, I'm buying according with the notes on the chart.
I have gone back to basics with this analysis and using simple price action to illustrate how higher highs and higher lows help build a bigger picture. What I have also done is highlight simple structure analysis which every trader in my opinion needs to understand to be effective. Price is currently sat at Daily Structure. I lean towards a more bullish bias for...
The U.S. dollar edged lower against the yen on Monday, as demand for safe-haven assets was boosted after Greek voters overwhelmingly rejected conditions of a rescue package from creditors on Sunday. According to benzinga USD/JPY is trading at 122.68, up 0.03. The pair is trading choppy and near the highs of the session during U.S. early forex trading Monday...
We called for a bounce towards 1.0960 yesterday before a move lower - pair actually bounced a further 220 pips and is testing former trendline support/the area around the neckline of the H&S. Despite the higher low and serious bullish momentum - we are still looking for a fail around here. Currently Neutral looking for topping candles/signals before entering short.
PRICE MAKING HIGHER HIGHS AND HIGHER LOWS INDICATING THIS UPTREND IS WELL INTACT. TRENDLINE IS ACTING AS A GOOD SUPPORT SO IF WE GET A PULLBACK INTO THE TRENDLINE/189.000 THEN THAT WILL BE A GOOD LEVEL TO GO LONG. IF PRICE BREAKS RESISTANCE THEN THAT WILL ALSO BE A GOOD CHANCE TO GET LONG/ADD POSITION
Just short entered on EURGBP with a RR 1:2 on Daily Chart
NZD GAINING MORE STRENGTH IN THESE LAST COUPLE OF WEEKS WHILE CHF IS COMPLETELY THE OPPOSITE. SNB (SWISS NATIONAL BANK) STATED THAT CHF IS OVERVALUED SO IF CHF DOES SOMEHOW GAIN STRENGTH THEN THE SNB WILL INTERVENE AND SELL THEIR OWN CURRENCY. NZDCHF IS IN A NICE UPTREND MAKE HIGHGER HIGHS AND HIGHER LOWS. WE HAD A RETEST OF THAT SMALL RESISTANCE TURNED SUPPORT...
A small trade possibility. Market pretended to breakout here on very weak volume at strong resistance. and will probably retest the last higher low and may go lower.
This pair has been on the move up for a couple of days now, making steady progress with higher highs and higher lows. Projecting this into the future could lead us to the scenario above.
CADJPY has reversed the trend and made a considerable move up all through the day. RSI is overbought now and it is probably exhausted and gasping for breath. We might see a +- 0.382 retracement into previous structure before rallying into the minor support level on the daily chart.
The "Golden Cross" right in the PRZ (resistance zone) pushed Gold lower. The overlap of 61.8 and 161.8 acted as a wall on Gold attempt to cont. bullish move. The recent PA is in line with the overall bearish trend. However, the breach of 1146 hasn't happened yet. Since Gold made a new high, this Higher Low could show that 1131 was the bottom.