clear downtrend on the daily, with the third touch on the way. in addition, the market has come to re-test the previous market structure. As you can see we have a series of LL. I'm looking to short this pair on the lower timeframe following my trading plan
USOIL structure looks bullish as it creates new highs, price appears to be pulling back to re-test horizontal level. If price shows confirmation within zone, I will place a buy position targeting previous high with a stop below zone. Just a waiting game for now.
I believe there is a false breakout here, price also looks like its going to hit for a second retest. Took the trade due to price hitting a rejected area before. Correlation between GU also. TP is set down at the 61.8 fib level. Hopefully price begins to fall soon.
Price has bounced as support and has created a hammer on the hourly time frame followed by a bullish candle. I believe price will bounce back to the trend line and break through the 50EMA. Could always wait for it to break through for further confirmation.
Always remember control risk before thinking profit.
Price has rejected the level twice now but there could still be a possible retest one more time due to it not retesting comfortably inside the zone. Taking a sell here. Key levels of rejection are being hit once more.
Throw a ball at a ceiling what happens?
It seems that BATUSD has come out of a descending resistence at the same time breaking above the 200MA in blue.
There is also a retest of the underlying uptrend which shows promising signs.
There is the potential to make a further retest of the green line whilst staying above 200MA.
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USDJPY, we traded this last night into this morning and made a nice profit on it. This has now come back to retest massively as you can see from that bullish candle. We are now looking for this to drop so have entered a small sized position on this to hold over the...
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As you can see this pair has now broken it's bearish trend and price then dropped back down. We are using this as the retest of the trendline and are now going long. if you drop to the 1hr chart on this you will see price...
so now the DXY is within a really strong area but this is really strong as seen with this bullish movement can this just push above and hover for awhile yes i think so, so just wait for the first move to play out but this could be key across the board with the dollar pairs
Very simple.. EURNZD has been bouncing up and down the same channel for a while now. Looking back, we can see how price chose to stay within the same range for quite some time now and we believe it'll stay like it until further notice. We've got a W pattern forming to the upside.
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From my education in forex, I have learnt from multiple people that Monday can be a manipulated day in the industry caused by, big hedge funds and banks. I always allow to have Saturday off, come to the charts on Sunday, and begin a week ahead analysis and today would have been a 'perfect' day to trade in, but I stuck by my rules and I'm now having to overcome...
NZDUSD - look how easy trading is. You don't need fancy indicators and a million lines on your chart.
NZDUSD, was a bearish trend which you can see broke out. We were then approaching this strong level here of 0.61960 not he daily time frame. We witnessed this break yesterday. Never buy or sell on the break as when you push through a key level 90% of the time...
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GBPNZD has been very bearish since it broke its long daily bullish trend. Now we have broken another key level and we are...