EURUSD has attempted to break the strong 1.1400 whole number resistance level multiple times but failed. Price has now formed a head and shoulders pattern (reversal pattern) after breaking an uptrend line and rejecting the resistance. A break below the neckline would confirm the head and shoulders pattern, and we would look for short opportunities on the retest of...
NZDUSD on the higher timeframes is in a clear downtrend Price has recently rejected the HTF downtrend line with a double top (reversal pattern), visible on the 4h and below. Price then broke below the neckline but has respected an up trend line and is now retesting the neckline of the double top, which usually happens before a double top becomes...
EURGBP is trading within a large range on the higher timeframes and is currently trading within smaller ranges on the lower timeframes. This is EURGBP on the daily Earlier this year price strongly rejected higher prices at the top of the higher time frame range, so we can expect price may fall to the bottom of the range in future. Price on the 1H chart has been...
NZDCAD on the 1H has formed a bearish pinbar signal near the very strong 0.8800 resistance level. Price on the lower time frames has formed a symmetrical triangle, and has strongly rejected the top of it with the pinbar. On the daily chart we can see price overall is downtrending and is heading up likely to attempt to test the higher time frame downtrend line...
EURJPY broke out of a higher timeframe downtrend last week. Price also broke out of two strong resistance areas with the EUR strength we have seen for the past few weeks. We can see two possible scenarios; 1.Price falls to retest the strong support/resistance (red line) and continues with strong bullish momentum 2.Price breaks back into the downtrend creating a...
GBPUSD is in a range. Price is currently in a strong uptrend, heading towards the top of the range. Looking back on the charts, price has strongly rejected the resistance at the top of the range multiple times before, meaning this is a strong level. We would like to see price reach the resistance and reject with strong bearish momentum in the form of either 4H or...
EURUSD has just impulsively broken above a strong level of resistance, marked with the red line. We forecasted this possible trade idea last week. Price is moving in a strong up trend on the 1H and 4H charts. We are now looking for price to retest the resistance now turned support, and/or one of the up-trend lines marked on the chart. We would like to see price...
We forecasted this NZDCAD head and shoulders last week. Our position is now running at over 4.15% with over 2.5% locked in with our stop loss. Now risk free with guaranteed profit. With experience analysing and trading in the live markets we were able to forecast the right shoulder far before it was confirmed, due to the nature that price was rejected the previous...
Setting an order for a short on this pair as it looks to be showing resistance at this major area. there is major support below and it is in an up-tend however, i believe we are going to see a pullback. I will close partial profits at the support below and let the rest of the trade run on a break even stop. Very simple. If you have any questions or want to...
WILL THE BULLS DREAMS COME TRUE ? ;-) THANK YOU FOR THE COMMENTS! TRYING TO LEARN! GOOD LUCK! HARD TIMES COMING...
Hi All , One of our free trades for the week . Price has been up and down of late and we have been banking and recycling positions , i think now is a time we need to start loading our short -term trades with sl adjusting / trade recycling. Let see how his one plan out . Many Thanks
Indicators vs Price action Understanding price action is key in this market, knowing were price is and what are the possible scenarios that may play out is something that comes with time. I understand why people are shorting this pair, but in reality there's no pattern for a short yet. If you go to the HTF (hire time frame) you will see a very clear reversal...
Hello all - DuncanForex here with some trading analysis I thought I would post a tutorial about how I traded GBPUSD today. I did enter aggressively expecting it to head higher. The reasons for entering were as follows. Sentiment view that a Brexit Deal was on the horizon. GBPUSD and cycling higher nicely making higher highs and higher lows I was looking to...
In the past I've often left trades and forgotten I had them open. It's ALWAYS ALWAYS ALWAYS IMPORTANT to place a Stop Loss and Take profit, for every trade you place, especially if you Day/intraday/Swing & Position trade. I don't often scalp and if I do I'm usually in and out very quickly in around 10-15 minutes. Now lets say you place a trade, entry after...
Hello all - DuncanForex here with another trade idea With USD starting to realise weakness across the board EURUSD has flow higher Whilst GBPUSD has continued sideways due to GBP weakness EURUSD is doing well and continuation entries have supported this driving higher today. XAUUSD is a winner if you are in it (I'm not due to an overnight retracement...
The bulls reversed the market up in two small legs (Jun 3, Jun 24) from the nested wedge bottom. Last week formed a second entry for a potential larger second leg up where the Jun 24 rally is the first. However this has not yet triggered and today is currently a bear bar near the low of last week. If this week closes as a bear bar, it will be a weaker buy setup...
After an injection of Tether back into BTC we are now looking to target our monthly resistance of $11,000, we also believe a breakthrough the 200 Day MA will act as new support until we continue up. Guys, get more real-time updates on our trading ideas here: learn2.trade This analysis is provided as general market commentary and does not constitute investment advice.