Potential Breakout depending on the next 2 candle closes
Not personally in this trade but can see possible bullish momentum for this pair. Overall daily trendline has broken that suggests bearish momentum, however, I can see a very possible range of 1150+ pips to the upside to retest previous daily highs of 8.7+. If bearish momentum overtakes the bulls, I can see it easily reach the indicated range around 8.46....
Degraded market conditions, let's see whether this plays out. First swing idea in a while, mostly doing day trades. Rough idea where I'm looking for.
USD/CAD Second scenario, most likely the first scenario is invalid. If it doesn't hold up, there can be another stophunt and we're looking at a needed rejection at the blue region before starting a bearish tumble. Under perfect conditions, this should be a wick entry. Projection:
USD/CAD Second scenario, most likely the first scenario is invalid. If it doesn't hold up, there can be another stophunt and we're looking at a needed rejection at the blue region before starting a bearish tumble. Under perfect conditions, this should be a wick entry. Projection:
GBP/USD Could take a week to hit, could take a month to hit, what matters most are the conditions before it hits: 1. What time is it? Volume? Volatility? 2. What day is it? Volume? Volatility? 3. Confirmation? 4. If it passes a certain length away from entry, then the analysis is invalidated and is most likely to go in the opposite direction. At this point,...
This strategy that I am about to show is my own that I have been backtesting with a very good Risk to Reward ratio, most times, a tight stoploss. But no one is perfect, my entries either go my way or they go in the opposite direction as these are pivotal movements in price that must be completed before continuing to make another major move. Also know that I...