Trend reversal is possible in GBPJPY. Entering the market from 129.4 with S/L below 127.8 and T/P around 134.26 provides decent R:R and opportunity to ride a possible price reversal in GBPJPY. Position sizing is crucial in this kind of market environment. // Feel free to share your opinion/position via comment and follow me to stay updated.
Possible trend reversal in AUDUSD, the price and 9 EMA + 21 EMA indicators are above 50 EMA on 1h chart (which wasn't the case since 10th of March)... Entering the market from 0.58550 price with S/L below 0.56600 and T/P around 0.64660 provides decent R:R opportunity. Keep in mind, that the bias is still bearish, so proper position sizing is crucial. I would...
A closer look at the month of February shows that we had a bearish engulfing candle + 2. A bearish engulfing candle is one where the high of the candle and low of the candle completely engulfs the previous candles high and low(shown with blue lines) and indicates a potential reversal to the downside. The +2 indicates that the bearish engulfing candle not only...
Just happened minutes ago, the topping pattern of a High, Low, Lower High, Lower Low, Lower High, and then a Lower Low just completed and then it gave up and did a huge Markdown. MACD has given an earlier indication of a drop, after pattern completion. THIS IS a topping pattern, and it is of high probability that the S&P500 topped out. Now waiting for it to...
Looking on the daily chart I can see a nice dubbel bottom. The 2 red arrows are pointing to the two specific candles I really like to see when the chart is making a dubble bottom. Also the rsi indicator has given a overbought signal on the first touch of this bottom. Price moved up pretty strong and for me this looks like a trend reversal. on the left side of the...
AUDUSD is trying to form inverted Head and Shoulder pattern. Trading position should be buy with SL on prev swing low (0.6730) TP1 : 0.6860 (because possible to go sideways trend) TP2 : 0.6905 (ideal TP for inv. head and shoulder)
This short segment is on candlestick and multiple time frame analysis. As a trader or trader wannabe, this is an important lesson that goes a long way. Trust me, it may sound simple but it actually took me a long time to grasp the full concept and then apply it in my trading. This is BTC on the weekly time frame, if you are scalping the market or even just day...
I have been keeping an eye out on EUR/JPY after a heavy bearish market this past few weeks and it seems we have hit an area of Daily resistance that has formed a potential Double bottom reversal pattern. There is still 4HRS left of this daily candle being formed but this is something to consider if you are in any shorts trades on this pair. We will be waiting to...
This reverse head & shoulder pattern confirms the upcoming bullish movement for this pair. CHF has weakened quite a bit in the past 2 weeks which means it should start to strengthen from this time forth. Daily timeframe RSI is indicating way oversold which is another confirmation for a trend reversal. Let's see how everything pans out! Trade Details : Entry :...
Sky looking like a safe entry with a clear stop/loss. Good risk/reward ratio upwards the 4 hr break level is touched and attacked several times downwards the 1 hr break level is attacked multiple times although there is support from a 4 hr uptrend from the past. There is a current suppression in time from a 4hr downtrend which is in a beginning state of a trend...
After the recent ascending triangle reversal back in October and November of 2018, the CAD/CHF has decided to give us another! It is currently appearing to break the bottom, so I'd definitely be on the lookout for many entry opportunities! If you're curious about my previous Ascending Triangle analysis, check down below :) I am still a rather new trader, so any...
USDJPY forming a descending triangle on the four hour. Managed to hit large quarter point at 110, but each challenge led to higher lows consistent to the counter trendline. It seems like price action peaked above the 61.8 fib level, and no longer has bullish momentum. A reversal trend is imminent, most likely when price breaks below the blue line @109.819 If...
We broke out of this pattern last Friday, green boxes are targets. Careful that we don't form a rising wedge continuation to the downside. Green boxes are targets.
Looks like as we are approaching the key support trendline ( view my last idea ) we are forming a falling wedge pattern on the 1hr. This could be a good sign pointing to a move higher in price. Looking for a strong break and close of the wedge would be good to see here. Follow for more ideas like this one!!
We broke a head and shoulders pattern on EURNZD. Expect price to move lower. Make sure risk:reward is good since we had a big break, if its not maybe we will get a retracement that can provide a better entry.
We are currently under the neckline of a very important trend reversal pattern known as the Head & Shoulders Pattern. If we close under the neckline we will move towards my target at 21600 over the next few months. This would total an 11.5% neckline which will drag down all the other indices with it. Be prepared if we close under this shoulder! Follow for more...