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price had a strong reaction to the highlighted zone
Key fundamentals to propel this pair are Canadian unemployment stats, FEDS meeting, Keystone XL Pipeline and general Risk Aversion.
The analysis speaks for itself. Pair has been in a consistent downtrend, current price structure signifies a retracement with prime opportunities for longer-term short trades.
When supply ceases to exist, demand becomes higher. The highlighted zone shows area of REDUCED Supply, not to be confused with buying (in this case, by large institutional traders). Now here is the complicated part, within that zone, smaller players are placing buy trades. When supply dwindles, demand go up and vice-versa. We are ultimately short on this pair, the ...
Can you figure out the differences in the three pinbars highlighted...bearing in mind that the shape, length, or colour of the pinbar does not matter in this case.
Pinbars occur in the market as a result of two scenarios:
1) When institutional traders place large positions in order to reverse what we call a "trend"
2) When institutional traders take profit off ...
Fairly simple breakdown.
Price has choppily made its way back into a supply zone, which is in line with the current downtrend.
Risk-averse traders should look on the lower TF for more precise entries.
The annotations should be adequate.
Hopefully, my annotations are simple enough. It is classic Sam Seiden but with a twist from my own experiences as a trader. I entered this trade when price was in the supply zone and i will be looking to close it in the next 2 hours...depending on the candle formation.
Price is in a downtrend, the choppy price movement upwards signifies to me that institutions arent place any major orders. Price has formed a new lower high after being rejected by a previously created Supply zone. I anticipate price will continue downwards.
Evidently, price is in a downtrend. "Never go against the trend" immediately comes to mind. While price is currently trending upwards on the lower time-frames, which i have highlighted by the demand zones, i will ultimately be shorting this pair once price enters Supply 2 and shows signs of a rejection. SL will be a few pips (5-10) above the red zone and TP will ...
Price broke an inverted head and shoulder pattern, created a demand zone while doing that. price has now retested that demand zone and we now see obvious and strong bullish reactions.
Price jut completed an ABCD pattern and is showing a retrace from the D extension which coincides with a monthly support zone of 118.00. I am anticipating price to get up to 120.00 zone which is in line with the fib i have place from the most recent lower high and 'Roof' of my EMA. The confluences are amazing on this pair!