DAILY/4HR Inverse Head and Shoulders Top formed.
(Head and shoulders top after a
bearish move, signalling continuation.)
Right shoulder formed, and crossed neckline,
meaning we missed the breakout entry, however,
since I have a strong enough CTS score I am looking
for a pullback final chance entry.
CTS Scored as follows -
Neckline Break - 1 Point
GBP/CAD at retracement level.
Following a large drawdown of 160 pips, the GBP/CAD is at the 0.5 Fibonacci retracement level. Previous false breakouts have occurred on the 4th June and 8th June - price action tends to repeat itself so this breakout below the trend channel is likely to be false too. The hourly stochastic is giving an oversold signal, along with the...
Good Afternoon Traders. Who's Ready To Make Some Money?
This is my setup for today.
There's still a lot of bullish pressure in the market however i feel the markets needs to correct before continuing with the trend
Reason for trade:
- Price Over Brought
- Strong Wick Rejection on the 1hr
- Strong Resistance Level (Respected 3-4 Times)
When trading pull...
Trend continuation following period of retracement, large engulfing candle does not provide sufficient risk to reward ratio 1:3 hence open if price retraces to 50% of the engulfing candle. Take profit is 162% Fibonacci extension.
What we see forming his a W Pattern which is normally traded big big banks and institutions who liquidate the forex market the most, so typically you want to trade with them.
We put take profit at the W's Neckline as when Trading the W pattern you tend to typically do this plus we see a break of the trend line and possible retest off the trend line where our...
As predicted on my last USD/CAD post i said there would be a pullback on the resistance line back to the trend line where me and my client did a sell which led us over 50+ pips of profit which then I predicted after the pullback on USD/CAD it would then rise due to it retracing of the trend line back into its original uptrend which i sent out a buy signal and once...
100% PRICE ACTION
Hey guys, one more forecast for the week. Here we can that price is moving in an uptrend for a long time. Price couldnt break above the high it created and so began its move down. Price then began to create a correction (bearish flag). Price created a key structure at the 50% retracement area of the fibonacci, indicating a strong structure. as...
First of all, let's not forget that NOTHING is guaranteed when it comes to trading, and MUST ALWAYS TAKE RISK MANAGEMENT PRECAUTIONS - NEVER RISK MORE THAN 2% OF BALANCE PER TRADE - ENTER AT OWN RISK!
Let us continue.
So, where does Gold come from?
Sadly, leprechauns don’t exist, so we won’t be finding any gold pots at the ends of rainbows. How is gold...