RealFXBeast

RealFXBeast Updated 

What is the probability of this market going down? I would say much higher than going up for the months to come. Monthly divergence at equal highs with MACD remaining below the zero line is a very strong reversal pattern especially on the higher timeframes as the monthly chart. I am not saying it is the same as the pattern 10 years ago but it is quite similar...

RealFXBeast

The CHJPY managed to make a higher high but on the chart we can see that the market is forming the bearish pattern ascending broadening wedge at key levels. The upper side of the broadening wedge falls into a 1.382 Schiff pitchfork level from a long-term uptrend line. If the market is to push lower, I am expecting a reversal from around the outlined zone. P.S...

RealFXBeast

There is a high probability setup opportunity on EUR GBP. The reason for me considering this a high probability reversal is that we have a strong convergence on RSI as well as on MACD. On the MACD it can be seen more clearly that we have a convergence at a lower low but histogram is above the zero. Potential TP areas are at the first zone of weekly resistance...

RealFXBeast

Reasons for entering this trade: 1) Weekly double top with divergence 2) Monthly pivot point level 3) Weekly break of long-term uptrend line 4) Daily bearish candlestick formation

RealFXBeast

Reasons for entry: 1) Monthly bearish engulfing candle 2) Multiple reactions on the outside of 7 months uptrend line 3) Daily bearish candlestick formation 4) Past daily resistance 5) Multiple rejections around the daily resistance and gathering of liquidity

RealFXBeast

On this trade a confluence of four signals is present for me to take advantage of this mid to long-term opportunity: 1) Hidden weekly bullish divergence on both RSI & MACD 2) Past weekly support (looking left) 3) Weekly Bullish Engulfing candle 4) Touch at long-term uptrend line Some people would say the entry is premature as the market short-term is in a...

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RealFXBeast

In using trading concepts like Candlestick formations it is very important to look at the context and not just blindly go short or long as these get printed on the chart. In this example, I am looking at a weekly candlestick formation spinning top on EUR JPY. Spinning tops or bottoms are labeled as indecision patterns or reversal patterns. In this video I am going...

RealFXBeast Updated 

The market is forming a daily rising wedge which according to the rules is a reversal pattern. We do not know whether the pattern will be executing, but it is a fact that this pattern is forming right now. All patterns are stronger on higher timeframes as higher timeframes accumulate more information. Do not take patterns for granted but be cautious - if you are...