ForexTrends

ForexTrends Updated 

Price broke out above a resistance trendline on the daily and has been consolidating in a range testing both sides. Trading in a consolidation range can be difficult if you don't recognize it for what it is. It's easy to get trapped on both sides of the market and anywhere in between. While the higher lows are still holding, I prefer to buy on dips near support or...

ForexTrends

We have lift-off! 🚀✨ The question now is how far will this move go and for how long will it last. Time and price. ⏳💲 The daily and weekly R3 just above HKEX:84 is the price. The candle close is the time. When they align, magic happens. 🍄🤩 Patience is the name of the game. Trading is a game of waiting. Waiting for the setup to form and waiting for the trade to...

ForexTrends

NYSE:CL has been consolidating in a tight range after gapping up. I still expect the gap to be filled at some point. IMO, It still feels like it wants to push higher first. I'll be watching to see how it reacts around the news tomorrow. That's usually the catalyst that the market waits for. Daily and weekly R3 levels are just above $84. The 78.6 fib would be an...

ForexTrends

Just like when George Bush made this declaration, I think it's a little premature. The fat lady has yet to sing and Señor Bush is an a-hole. After oil gapped up on the weekly open, it's been contained in a tight range. If there was selling, there would have been more follow-through. I also would have expected a stronger test of the highs in an attempt to get more...

ForexTrends Updated 

$CL could still have some more upside potential around $82-$84 before selling off/filling the gap. I'm curious to see if they're going to use the next market close/open to run it like they did back in early Jan 2020 on $XAUUSD and $XAGUSD. Keep in mind that anything is possible with these mofos. Remember, keep your risk low and manage your trades. Plan....

ForexTrends

$CL is fast becoming one of my favorite instruments to trade. The ranges are wide, the money is good, and it's easily manipulated. With price gapping up on the market open back near the 2023 range high on the daily chart, I'm looking for places to get short. The monthly is still in a downtrend and has some big wicks down south that will act as tractor beams. I...

ForexTrends

It's been a while since I've seen the market gap open like that. I'm not sure if being on the right side of the gap is good or just plain lucky. Either way, I'll take it. I do know that when you keep playing your edge the same way, every time, you put the odds in your favor. As traders, that's what we do by playing the probabilities and managing the risk. My last...

ForexTrends

And there we have it! Full send. Full correction. Sometimes the best way to get over a hurdle or obstacle in life is to leap-frog over it or blow past it and sometimes, completely obliterate it. Market openings are often used to close the gap between what our mortal minds view as possible and expand them to include that anything is possible. Even the impossible....

ForexTrends

The daily channel is consolidating in a pennant pattern. I'm looking for dips to be bought in order to test the ATH and fill the 2022 weekly wick. That would finish setting up the weekly sell reversal pattern. Remember, keep your risk low and manage your trades. Plan. Execute. Next. Trade Less. Make More.

ForexTrends

Price has retraced 78.6% of the previous move down and ended the week by closing on the highs with a widespread "bullish" candle. Or is it? This is where the concept of strength and weakness appears. It's the opposite of what most think. When the market is getting strong, it cannot go down and when it's getting weak, it cannot go up. Most people associate...

ForexTrends Updated 

Price broke through resistance in London and dipped in the US session to test the breakout area and rallied. This is another tactic to shake out the breakout traders, get them short, take their money, and then run it in the original direction. It's all part of the distribution process from the longs below. As we're heading into an EOD and EOW close, I want to...

ForexTrends Updated 

$CL is slowly edging higher and higher. The brief sell-off in the US session today was quickly bought up. Patience, discipline, and timing are key when edging so you don't prematurely finish before the process is completed. Staying power. How long can you last? Many traders have trouble staying in a trade long enough to let it play out to its target. They're...

ForexTrends

While the monthly and higher timeframes are still in a downtrend, I will look to sell rallies at key levels as setups form. On the daily, price has stalled out in a consolidation pattern. The weekly is forming a sell reversal pattern. However, I can see a push higher as outlined in the charts. Lower timeframe dips (4H) can provide proper setups/entries to test the...

ForexTrends Updated 

I know that's easier said than done. Especially, when you're right in the thick of battle, trading at the hard right edge. Understanding how the game is played and then being able to recognize the conditions and setup surrounding the current state of chaos will help you position yourself on the right side of the market more often than not. Even with that...

ForexTrends

The cable has been locked inside a heart-shaped box for weeks between the 38 and 50 fib. The daily is starting to form a sell reversal pattern but hasn't made the turn yet. On the lower timeframes, I'd expect to see more testing and buy into any selling around 1.2150-1.21. A buy reversal pattern on lower tfs would confirm this setup. If you look at the daily,...

ForexTrends

Targets at support were hit and then some. A liquidation run can be expected when price reaches an area that has been highly anticipated. It provides a lot of liquidity as many will attempt to trade at that level with stops just outside of the range. Those stops become the fuel for the extended move. It's important to keep focused on the setup and what's going on...

ForexTrends

The market is still in a corrective/consolidation phase after the first leg down. Another test of the 61.8 and 78.6 fib zones could still be in the cards. This would be a bullish confirmation to the herd and they will, like always, line up to buy a euphoric high. The "financial pros" will also be there ready and willing to assist. While the higher timeframe...

ForexTrends Updated 

$CL Returns to channel support near the 2022 low. It's forming a similar buy reversal pattern as it did on Feb 6th and 22nd. Remember, keep your risk low and manage your trades. Plan. Execute. Next. Trade Less. Make More.