This commodity is undecided on whether is in an overall uptrend or downtrend. However the sentiment just now appears to be bullish as the last 4hr candle (@10am) has shown retracement. I've entered a long trade with initial TakeProfit @ 55.86 then at 58.17 if the untend continues
As you can see by the graph, EURGBP has hit a consistent resistance around the 0.8911 mark. This is indicating that the pairing will drop to the 0.885 support and either break through to 0.8858 and beyond or rebound back to the resistance at 0.8911. This trade can be seen on H1 and H4 timescales so should be easy profit within the next couple of days.
Today I believe it’s going to be a balanced profile day as market awaits Sino-US trade talks outcome.
Overnight price traded within yesterday’s value area. I believe price will come down to test yesterday’s lows before going up to test overnight VPOC or try to take out overnight high before falling back within the range -baring any unexpected news of course.
The first day back from a long weekend. Yesterday's trading volume was rather low as expected, since most of Europe was on holiday. Today, Tuesday, overnight session trading was confined to a narrow range of 6pts within the highs of yesterday's NY session. On open, I am expecting the price to test yesterday's highs.
Note this week heavy on Q1 earnings. Rather...
At first I thought that the USDZAR downtrend had been halted and a new uptrend started. However, price has respected a previous important high (August and November 2016)and has quickly moved down to just break past and sit at the previous low set March 2016. Currently it looks more like a long term range forming. The latest up moves were from potential...
EURTRY has been clearing up-trending for over a decade. The upside momentum has been significantly stronger in recent years, as seen by the more aggressive trend support lines. How long will the upside continue? Is price finally reaching a high?
The main reason for me wanting to open a long-term short on EURTRY is the positive swap rate. I personally believe that...
So I've been quite dovish about publishing ideas as I am new/green to publishing and still growing in the trading arena.
I've been watching FOREXCOM:AUDCHF since June and thanks to the education I have been receiving lately, my analysis of this pair has been quite spot on, so I'm so happy I have found such good teachers and...
major resistance tested 3 times and held
weak buying pressure - failure to create new highs
candlesticks - indecisions candlesticks and dark cloud cover and long extended upper shadows
if prices can break below 145.000 - sell
On the 4 hourly chart we see resistance with the long tails / Dojis in the candle price action. They appear to be respecting the Major resistance line which has previously been a major Pivot or Swing line. A lot of selling activity and short positioning may be occurring here. This might be reinforced with the poor US Economic fundamentals, poorly received Trump...
So I am currently learning Price Action & incorporating a strategy within my binary options demo account.
I thought no better than to share my EURUSD chart and get some comments from some experienced traders so you guys can help me out and give me some advice.
So I am expecting price to fall to either my support (@ around 1.2200) or to break from the...