We have seen a break out of this resistance that has been holding for a while now. I got in just before the breakout as all of my indicators told me price was going up.
GU is looking very bullish today!
The targets for the break of the previous channel (sent to our students) were hit perfectly, before we saw a retrace back down. The beautiful thing about the retracement is that it appears to have moved directly into a new descending channel.
I think we are likely to see a little more of a dip before this pair moves away, but i for sure will be looking for longs...
We got in here on cable after a clear SMA cross had appeared.
No major data out of either country until 13:00 GMT which gives this position a good 4hrs before we need to either take profit or stop loss.
All of my criteria was met with this trade hence why i decided to enter.
The stop loss was fairly big but i decided to enter anyway as this trade set up was very appealing.
Cable is in a massive down trend so i will be looking for the downwards cross of the 5 and 10 SMAs.
No major news out today of either country so there will be no need for an early exit.
My overall bias on EU today would be long.
Trend line is holding nicely.
There has just been a cross over on the Stoch and RSI is looking very bullish.
MACD also bullish.
Not the best time to buy now but after a reversal (off or close to the trend line) would be a good time to get in.
On a fundamental front this week Monday was a read day for the USD and for the...
While looking through major pairs this morning this one stood out more than any other. A nice retest of support turned resistance (1.2491). EMAs have crossed over, RSI in below 50, MACD fast in under lagging and Stochastic just about to cross also. There is a slight divergence on the RSI to the 1hr chart. This could be a sign of a trend reversal.
USDCAD could be a possible set up for a short.
DXY Head and shoulders looking very likely so on the back of this we are going to be looking t get in on the action.
USDCAD looks the best set up t take advantage of this as we can see EMA cross a key area of S/R.
We are just going to be patent with this one and wait for the cross to be confirmed and a nice bearish...
10 and 20EMA cross confirming change of trend.
Doji followed by a bearish engulfing candle off the S&R.
MACD fast line below the slow line confirming bearish momentum.
I got in to this one before stochastic was oversold.
Going to follow price down with a SL just aove each recent swing high / low.
Got any ideas?
Let me know.
Just caught a really good trend.
Price rejected the resistance at 1.08859 and started to put down heavily.
The bears took the charge big time.
RSI and Stochastic were in heavily bought territory.
MACD crossed over and i enered.
I got in this one at around 1.08742 with SL at 1.09000 (placed after the recent high as i didn't think it would reach that high again).
TP...
My trade yesterday looks to have gone to plan.
I got in just after the highest high as illustrated on the chart.
As you can see both Stochastic and RSI proved that the market was being over bought.
This points to a sell.
The resistance at 1.08505 was passed with flying colours but volatility soon started to fade.
Then MACD crossed over which pinpointed my entry...
As a continuation of my last post it looks like price has smashed though the resistance i thought t would stop at and shot right up to the next one.
RSI and Stochastic starting to heavily indicate overbought conditions.
Waiting for MACD cross over before entry.
We might see a reversal on the next resistance at 1.08528
EURUSD slowly reaching resistance at 1.08091.
Waiting on oscillators to indicate a change of trend to the downside (bearish).
Wont enter trade until strong indication has been confirmed.
Resistance is also very strong, has been tested many times in the past.
Looking for 1.5R on this one as always.
Any ideas or comments let me know!
Desceding wedge with Bullish divergence on the MACD as shown on the Daily,
profits will be taken at the 0.5 Fib retrace level from previous all time high to current lows
Introduction
I'm starting a new multi-timeframe analysis series and using TradingView to document it.
Objective
The main objective of this multi-timeframe analysis series is to bring together the knowledge I have gained over the 4+ years of trading, and encourage me to consciously use that knowledge rather than working out of habit and 'instinct' which is so...
