Been away from trading due to holidays (Thank you Isreal you were amazing!!)
So here we are in a long term descending channel from a higher timeframe. Price will most certainly reach the top and re-test it.
And during this long term channel, we have a shorter ascending channel with a perfect place to enter.
If it was only that easy ever retail trader...
1] Price has broken the general upward channel.
2] It came back up for a retest to the channel, however it was rejected
3] Price also broke the upward neckline with a bearish engulfing candle
The Risk to reward is roughly 2 depending on how tight your SL is. I will be using a trailing SL when coming to the next lot of horizontal support
For my free shorter...
1) Price has been in a general upward trend since AUGUST. #trendtrader
2) Price has been moving within this upward channel and has come to the bottom of this channel. Therefore expecting a reversal.
3) It did briefly wick past the channel, however the buyers may have come in as there is also horizontal support just below this channel.
SL is placed below the...
This is a follow-up on AUDNZD, which is now at a critical position. Price can head south, north or sideways. No predictions - as I have no working crystal ball (and I'm not going to purchase one).
Vigilance is needed on this. Watch out for spikes and whipsaws.
The usual disclaimers apply - which means if you lose your money, sue yourself.
This is not a perfect head and shoulders - and it is rather unusual to find a perfect pattern. I say what I see:
1. One big H&S on GBPJPY (1D).
2. Price had collapsed south from the base, almost the distance of the head.
3. Price is re-challenging the base at an important structure level.
There is an opportunity here for a controlled affordable loss (alias...
Silver is at a critical position. This is an opportunity for a controlled loss..
Did I say 'loss'? Yes - I did. If you cannot afford a reasonable stop-loss - of your choice - do not go long on Silver.
Those interested in the Gold:Silver ratio, may check out its importance in recent weeks (on the net).
Note that silver is going at roughly USD $17.04 at the...
My BIAS for GBP/AUD in the upcoming week will be a BUY.
My reasons behind this are that we had
1.A previous ascending channel which has been broken and rested with a strong Bullish Engulfing Candle following the retest.
2.We are currently travelling above a recent Supply Zone and also a strong daily resistance which we've also seen act as support at 1.81300.
I explain why this is shortable - in a particular methodology. This is not a recommendation to short. If you short and lose your money kindly sue yourself. I explain the risks. No risk - no gain. End off. Your stop-losses must be affordable.
GBPAUD has retreated from a major breakout north down to a key ATR support level. This creates probability for the north. But caution - for every probability estimate in one direction there is a residual probability in the opposite direction.
The tip of the current position with GBPAUD (4H) looks like it is near the end of a contracting wedge pattern. We also see some huge scallops.
This may not be a great position. But in situations like these I'd take a stoploss. This could be tricky because one has to expect price to fall out of the wedge and then return inside, moving up. But it could also break...
AUDCAD (1d) can break north or south. The position here is very tricky. Long squeezes of momentum and ATR resistance can be followed by price going either way. At this time only, there's more on the chart suggesting probability for the south.
On the last bullish limb up to 3rd Dec 2018, price retraced down to a 76.4% Fib before a struggling recovery from 1st...
PPB's investors haven't had much to laugh about this year, not even their comical television adds could cheer them up, i'm sorry to say that from the looks of the daily chart the stock could be in for some more pain soon. After a tremendous run in may the stock has seen a lot of downside until finally finding support at the 6000 level currently the price is having...
EURUSD has presented different opportunities and conflicting signals. 'Everybody' wants to know which way it is going. This is the wrong question.
In this screencast I show different opportunities relative to trends on different time frames. Where price is going, depends heavily on which time frame trend you're stalking - and whether you'r willing to take a...