Eur/Usd BUY LIMIT 1.0760 , SL 1.0625 , TP 1.1100
Also another sell setup 1. price has come to previous structure and shown a huge bearish candle 2. price put in a bearish engulfing candle 3 price is downtrending 4.previous candle was a doji on the daily previous candle was a bearish hammer sign of more sellers in the market :)
As We all know nothing goes up/down in a straight line, and with all the bearish sentiment for Oil and CAD we are sure that the turning point is near. Of course, one of the most important rules is not to try to catch the turning point (TP) "do not catch a falling knife" *****So we are not saying to short USDCAD now****** In the monthly chart it is clear that...
Long on Eurchf Sl is a kind of more then TP
Currently Below monthly pivot Currently I would not recommend to place new trades, as no clear signs appeared on the chart yet I would recommend to leave Breakeven stop loss. "This is a short term analysis based on a 1H chart, I’m trying to post it after I see something interesting, or when I want to review the situation, I’m doing it for my own trading, and...
Currently below daily pivot Price is currently at 76.4% Fibonacci retracement area (Filtered to 1H timeframe) in a relation to 1D Chart In case if the next bar will be closed above the level and above 50% of the previous bar, I will enter a long trade using a limit order or market (depends on situation) Currently I would not recommend to place new trades, as no...
Eurjpy TP Hit, pain ful trade of the day
First Thing that I always do is to find the map and see where is the price and where it wants to go. I have seen a bearish Elliott Wave with possibility of correction wave to a little above wave 4 which I named it as Point E right on R5 Trend. (Based on Elliot Wave Principle). And Also I see a Double Bottom Pattern that gives more significant to reach point E....
I had a request from a friend to analyze USD/TRY: On daily perspective I saw a nice classical Elliot Wave with double zigzag till point E correction waves. Before starting the analyze I want you to eliminate the harmonic pattern that I draw there; First we start with trends and the potential of opening trade. PA (Price Action) creates trend and trends give us...
Google had an interesting triangle break out. Price is on Minor Orbit. Unfortunately I could not find any orbit above. But based on old candle chart we can expect a drop in future. There is a rule in trend price action; any jump from each trend has a reverse to its own trend until it breaks out the trend. Trend R 1 is already broke out. Trend S1 is still valid...
As slowly we go on I bring up more technics on my perspective. I had an email from a friend he required me to explain more about orbit and its functions. Well, to be honest drawing orbits beside trend lines is my personal secret and idea. What are orbits and how we can use them in our perspective in order to reduce risk: I believe that price are turning around...
I will never recommend any one to sell in an upward trend. I personally would wait for price to come back in bottom trend line and Buy again if it does not break out. Patient is the key of success.
Patterns can be failed very unexpectedly. Patient is the key of success. Open your trad on a strong trend. Later I will explain about how to adjust SL and TP. I will also explain how to get reversal signal and have more confidence on your decision. It's all about Risk to Rewards. Get yourself mentally ready and deal for long term instead of amateurish...
We always keep ourselves into triangle position and open your position only right on the trend as you see. Each jump on trend has a reverse to its own trend till it breaks out. At this point in the end of triangle you should stay on your last buy position and wait for the break out to reach future expected price. Remember you will never start your deal in the...