SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1 Day Actions on - A – Activating Event Market consolidating above the 200 mva and has reached a condition of being oversold.If we see a break above the 83.00, a long position may be an option :) B – Beliefs Market move towards the first Target 1 level @ 83.900 ...
Trade had broke the resistance which then became the new support and then retested it. It since then started rising I believe the trade will go up towards the trendline area, which I personally set take profit. The next decision happens from around that area whether it will break or respect. If it breaks the trendline and closes above then I believe that it...
My thoughts on two alternate ideas: IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels). IDEA 2. If it...
The market could make an impulse move down to retest the previous level of support. Wait for a reversal to complete before taking a long position.
Trade log for bragging rights...Ill include detailed analysis elsewhere another time harmonics, elliot wave, wyckoff, supply and demand, divergence, i trade 50 different ways be sure to stay tuned for my paid signals group also have a free analysis group in the making im 4/4 on calls so far heres some of the madness behind the call idk much about volume...
EUR/USD is testing a key level of support. Wait for the break and retest before entry.
USD/JPY is responding to a key level of resistance. As the DXY start to reverse, I expect UJ to follow. I believe this could help UJ drop back to the 109's
EURUSD is heading down towards the weekly support at around 1.16414 then I expect that it would then go back up towards 1.20850 and could then either form a head and shoulders pattern or could go over and continue to go up towards the weekly resistance area at 1.25701. Looking at the indicators such as the RSI and Stochastic also on the Weekly chart, the Rsi...
• After we have reviewed this pair, we are expecting to see more of a downside for NZD/JPY. Everything is indicating that we are still expecting more downside for this pair. This is a swing trade, which means it can take a couple of days if not weeks to reach our potential profit area. Our major confirmation of entry was a 6H bearish candle close below our Weekly...
• As of right now we are expecting to see a potential up-trend continuation for this pair. It seems that price has managed to reject our Weekly Trend-Line as well as our 61.80% Fibonacci (Which aligned with our Weekly Trend-Line). This is giving us a indication that this pair still has more bullish momentum at hand. Despite price not being that favorable; price...
• We've been in a strong consolidation for this pair. As of right now we are expecting price to reach it's previous high area (also the consolidation area high). We've recently seen that price had a major drop (due to news). However, price failed to make a new lower-low, which gave me indication that we can still see more upside to be expected with this pair. We...
@: 1.40370 S/L: 1.39870 (-50.00 PIPS) T/P: 1.42370 (+200 PIPS) Risk/Reward: 4 - 1 Trade Rating: 7/10 (Good) • As market has moved slowly we technically have a confirmation for potential upside movements for this pair. As price seems that it's on its way to reach 1.42500 Weekly Resistance. Which also aligns with our Fibonacci Extension area. • Price overall...
AUD/USD - CTT @: 0.79822 S/L: 0.80100 (-27.80 PIPS) T/P: 0.78645 (+117.00 PIPS) Risk/Reward - 4.77 - 1 - Price has rejected our critical zone (88.60% + Minor Resistance). - Price is over-bought - Expecting price to reach minor support that aligns with our major trend-line (where we could have a potential trend-line rejection and continue on a upside...
NZD/JPY - Market Update - Further downside? Previously on this pair we've seen a major 78.60% Fibonacci rejection (followed with a minor 61.80% Fibonacci rejection). Everything has been indicating for price to reach a Minor Support of 78.280 - 79.000. Unless we break 81.500 that would give us a indication to continue up. But everything is leaning towards a...
AUD/USD - Market Update - Price expected to reach 0.80000 Last week we noticed that price had a 23.60% Minor Fibonacci Rejection (despite it not hitting it to the PIP, I consider that a rejection). We are projecting price to reach 0.8000. If price does reach that area, we may be entering a -Critical Zone-. If we manage to see any strong -bearish- candle close...
EUR/CAD - Market Update - Will the 90 Day consolidation end this week? We've seen for the past 90 days that price has been ranging between 1.47500 - 1.52500. We've seen a few break-outs here and there but we have managed to break thing range/consolidation. If we manage to break 1.52500 we could potentially see price reach 1.54000. However; we do have a...
XAU/USD - Market Update - 78.60% Major Fibonacci has been broken! We were struggling all of last week with our Resistance of 1325.00. However; price couldn't break it's consolidated zone of 1312.50. Making another wave to the upside. We've broken our Major Fibonacci of 78.60% which means that we are expecting price to reach 1350.00 and possibly -ABOVE- by the...