Lets say you have a trade opened & its profitable. all going to plan. then you get greedy. over boastful of your legendary trading skills. you ignore the original trade plan, you devise a better plan to accumulate more profit. you dont respect your previous profit Targets, & you keep the trade running, eventually you becoming forgetful of the market nature &...
Hello all - DuncanForex here with another trade idea
Following the move higher on the 24th and 25th October, I am looking to enter again off Support.
Price is at a great level and I'm long at 1486
Lets see if this can get up to the previous highs from last week
Reason for entry is
Off Key Support level
RSI showing divergence on 1 hour chart
If it breaks...
Hello all - DuncanForex here with another trade idea.
With gold pulling back to the 50% to 61.8% area - I am looking to take more entries in Gold.
With price action over night, I am expecting it to cycle higher today.
On the 1 hour chart it is starting to make some bullish price action, - if the high on the 4 hour candle is broken, it could mean a lot more...
The market has been very choppy lately with lots uncertainty. The qqq was unable to make new highs on the previous move up. although this may be true, we can still see a potential trade to the upside with a reasonable stop loss below. The qqq has pulled back to the 61.8 Fibonacci retracement level. also it has some support which was respected twice last week. For...
Tick-TIck-Boom
Strategy used for "Anti USD" currencies.
If bar closes above the line without touching the line buy, play is good for 100 pips, however, there could be more depending on price action. Sames goes for below the line. If a bar closes below the line without touching, sell.
PLAY CANCELS at the beginning of the day, however play can also continue from...
Depending on the approach of the market, 2 advanced bear gartely patterns with the bigger one having a better risk reward ratio.
Will be looking for different reasons for entry like double bottom and RSI divergence.
Good luck in the rest of the markets through the week
Reading Price Action. It is coming up to creating a double top. Looking left, there is previous structure Resistance. Looking for reason for Entry such as RSI Divergence and over bought on the lower time frame for a reason to get short. For Counter trend Traders.
On the lower time frame Market is bullish so, I will be looking for reasons to get long in the 115's...
Let me take a minute to emphasis the Importance of this Resistance its a BIG one seriously.
This Resistance line which is Being Approached on $NZDCAD has held several times during this year before this encounter.
Also there is a CUP & HANDEL pattern forming which is giving some insane targets of close to 1.0450 so don't get carried away so easily.
I...
The WTI Crude touched a Low of $40.55 last week after the release of inventory data (Last Wednesday) showing over Supply.
The recent release of Chinese PMI data showing signs of Chinese economy slowing down further, which puts additional pressure on Oil going forward.
Read More Here :
Buyers Buy $41.10-$41.30 for targets of $44-$45 and a Stop...
Everyone is Busy with Daily and Hourly charts,So I have stepped back and trying to shed some light on Monthly as it is at a very Crucial Decision point.
Falling Trend line from all time Highs we hit in 2011 is here to decide the faith of Gold ;)
Short Term Correction at least to $1200 is expected in coming month or two, it may not come in light of some Big...
This pair is looking very bearish. Will wait for two consecutive bearish candlesticks to post before entering a short trade once we have broken the symmetrical triangle trend line. Trying to stay away from EUR & GBP currencies in the anticipation of a high volatility market over the coming days and weeks. Will keep my eye on this one to see how it progresses.
Hi Guys,
This is a bearish CYPHER pattern @ 157.64 and stop loss will be placed above the X leg which we use as good resistance in this case. TARGETS ON THIS TRADE WILL BE DIFFERENT TO USUAL AS I VIEW THIS AS A DOWN-TRENDING PAIR, THEREFORE TARGETS WILL BE AT SUPPORT/RESISTANCE LEVELS. IF/WHEN first targets are met, half of the position would be closed for...
NZD/USD OUTLOOK. NU finally broke above the 0.68736 level giving us a nice break retest this week. Added a fib retracing to the 78.60% level. Will be watching closely on market open for a pull back to execute a long to D2 extension (61.00%) level witch also is confluent with historical resistance 0.72315. If we do not see a pullback and my trading plan is not...
No doubt who is in control here. Pretty much a selloff since 2011-ish, with bullish pullbacks here and there.
In the start of December '14, a bearish crossover occurred on the D1 after a pullback, and the selloff continued down.
Yesterday's candle (Monday, 09/03) showed a clear rejection of the key level around 1.0515 and the 50EMA.
Bears are definitely...
