The US Dollar has been trading in an ascending channel against the Thai Baht for the last two months. This has guided the pair from its 2014/2018 low of 31.10 towards the 61.80% Fibonacci retracement at 32.20.
From theoretical point of view, the pair has failed to form a new high this week which might be an early indication of a new wave down. In case the senior...
-14 Week Common turn
-Weekly Bollinger band squeeze
-Daily 30EMA resistance fail
-Could take time to play out
20 basis points of risk planned
Am a buyer on daily break and close of upper boundary
There is something about the USD/THB pair that you can observe only by changing the time frames of the charts while having set up them to show the 200-period simple moving average.
Namely, the most important is the fact that the currency exchange rate has passed the 200-day SMA, which has kept the pair lower since the start of 2017. In addition, the four hour...
The near term chart shows all signs of a bullish breakout. Clearing 31.303 triggers a new (intraday) uptrend towards 31.54, 31.81 and perhaps a tat higher. Such a rally is nevertheless classified as a counter trend rally within the longer term down trend. moreover, it will be the first noteworthy recovery since the down trend commenced in Q4-2016<>Q1-2017. Weekly...
-5 Week descending triangle
-Persistent trend
Small pattern but the case for trend continuation is attractive
30 basis point max as I don't have a clear primary pattern in which to measure a target and this continuation pattern gives me a 3R at best
Price has tested Weekly supply, Over exceeded demand, Producing Daily supply,
Price coming up to Daily supply, I'm looking to short here.
Limit order placed based on 3 timeframe analysis. If it hits my SL, I can always re entry as long as there is sign of sellers.
If you are applying Supply & Demand methodology in your trading plan, or mere interest,
Be sure...
USD/THB 4H Chart: Breakout form triangle
The American Dollar was trading against the Thai Baht in a two-week long symmetrical triangle. In result of the previous trading session the currency rate made a breakout to the bottom. The bearish movement is not evident yet. Nevertheless, the slipping 55- and 100-period SMAs together with the weekly PP suggest that...
Thai baht has been very strong against the USD. It has appreciated more than 11% to its current price. Now it sits at the 50% FIB level and possibly there might be a retracement or it could heads further south to 61.8 FIB level before rebound.
Watch the wedge pattern breakout and be careful of false breakout. Take a small position and accumulate slowly if unsure,...
Since the year 2017 begin, Thai Baht goes stronger. At 33 Bahts / USD is seem to be a significant rebound point. But should be careful the swing, it would be more a bit stronger until the end of 2017, then will be weaken a little bit.
The foreign exchange market operates around the clock, so it is impossible for a trader to track every market and seize every opportunity.
In forex trading, time is everything.
In order to design an efficient and timely investment strategy, it is necessary to record the market for 24 consecutive hours of trading, so that traders in their own trading hours, to...
