This trade looks very promising. The market is currently moving in a descending triangle as shown. This means lower lows and lower highs. We are currently approaching the low of the edge of the triangle. Secondly, the 50 Period EMA has been dis-respected therefore we expect it to bounce back from it. Thirdly, the market is moving above the 200 EMA supporting the...
Here is another trading Snack.
Ever sense the stock market pushed to it last all-time-high, followed by risk off fears of the pandemic, we’ve only challenged the re trace move bacK to the 61.8 Fib level and now are grinding around.
With zero or close to zero rates in most of the world, money managers who for the most part have only seen for the last 11 years a...
Another Forex Trading Snack.
I posted up a earlier a trade that failed me and my original setup. Sudden volatility struck fast and hard!
Ok, I will admit it, for a moment my emotions were crushed. I went from trading my setup emotionless, to just about packing it all in for the day!
What changed?
A bit of self talk changed my fear of having just lost, to...
Here is another trading snack!
AUDJPY has created this really nice bearish wedge pattern. In my opinion there is two good ways to play this pattern. As always patterns can and often do break in the opposite direction from ones own analysis or market bias’s. Having said that, trade if you must with your own risk tolerances. ‘‘Tis also isn’t trading advice, but my...
Personally I'm seeing a 113+ Pip reward for a -13 Pip loss.
AUDCHF Has tested strong support and failed to break. I'm Looking to see some bounce on opening and a clear hourly candle close to be able to determine what direction this will go in.
Happy trading, and stay safe.
J4mmy.
As you can see the two red lines are not parallel...Right now it can be that the pair is breaking out from the ascending triangle or it can be that it will sell and confirm the downtrend
Impulsive moves are what we are looking for. Right? I mean those are the moves that have the biggest bang for the trading risk buck! However looking around the charts sometimes you just run into a move that has already happened. Sad, but it’s true all to often.
Opportunity could just be hiding in plain sight though.
This is when I look for a EW ( Elliott Wave )...
Another Forex Trading Snack.
AUDJPY on my weekly chart it shows an interesting point in price action. Sitting just below a multi year trend line ( a trend line going back to 2018 ) this down slopping pink trend line should provide a cap in price. Usually price action taking a crack at a multi year line doesn’t break through on the first try.
My bias is to set...
Another Forex Trading Snack!
The EUR has been trapped inside of a multi year wedge pattern ( indicated by the blue trend lines ) but once it broke out of this pattern it’s bias in my opinion is to the long side. Also recently the DXY index has formed a wedge like shorter term pattern and the exact inverse pattern of the DXY is the gray trend lines indicated on...
I’m often asked about gap trading after I post up a gap trade setup. Usually the question is, “ what is my strategy in trading gaps?”, or “What is gap trading?”
Back in June 28-30 this gap happened in spot gold. ( the pink circle) it’s a good example of gap trading from real charts not text book examples.
Well first of all, not all gaps are created...
The probabilty of a long trade is high because the market has come very close to the support line and has not broken past that.
The market is at a bullish uptrend.
The last bearish candle has not exceeded the bullish candle.
As mentioned before I am new to trading so any feedback is welcome :)
Due to the market being very bullish it is a higher probability that the market will go long. The Bears might push down to the support line and then the market may pick up and go long.
I am new to trading so any feedback will be great :)
I am expecting price to fall once it breaks through this pennant pattern, if prices rises any higher then it could potentially hit the Fibonacci level at 38.2% and retrace downwards.
Just another Forex trading snack!
I’ve mentioned it in chat before...
“just before major expected news releases EURUSD usually seeks middle ground.”
For most of this week I’ve been long EU, but mid week just before NFP release, I started to look for shorts. Why? Because for years now EUR and other dollar pairs have set their respective high’s or low’s and then...
Yes I know my earlier post was about wanting Sell this pair around the 1.2300 level. However, with this impulsive and sudden move higher and taking into account of some potential dollar positive news on Friday ( tomorrow / 8/23/19 ) I can see a run up in price based on a EW 5 wave setup I see on the hourly or 30M charts. I know they are short term charts, but this...
Here is another Forex trading snack!
With news bombs flying around GBPUSD has finely broken higher. But what’s new here with these kind of moves right?
It seems the market is leaning very negative, so when there is news, rumors of news, or news that can be interpreted as positive / no hard Brexit, the currency has a higher probability of jumping higher.
But as I...
