Spotted this pattern formation today.
It could be a nice double top pattern forming, but I'm still yet analysing it but I've drawn out guides so I guess we'll see how it plays out!
I'm currently profiting from a long trade - 37pips up.
Drew out this potencial falling wedge pattern this morning. This could be a great entry if confirmed.
I will be keeping a very close eye to this!
I'm becoming more and more aware of trend patterns which is good and I've learnt to break free form constantly checking my profits which is good because I don't plan to be a full time day trader. However, I do like to...
In response to my V1 analysis, there might be a reverse head & shoulders pattern forming which I will be keeping an eye on for a confirmation.
Should it be confirmed, my current open short positions will be closed and I will be entering a long position in response to the HS pattern .
Based on investing.com technical summary.
15 chart --> Strong sell.
Hourly --> Strong sell.
Daily --> Buy.
I am unable to open any positions for this as my current trades for USD/CAD is taking up all my margin haha.
However, I will keep track of this.
This is my current live open positions for AUD/CAD -0.08% .
I will keep this idea updated.
Seeking for professional thoughts and advice on this analysis (Please).
Follow me for more analysis!
First publish :)
I'd love some positive comments and critics!
Lot size used for this trade: 0.05
End result: *To be updated*
I had made a first £100 deposit to start my forex trading, I've made 50% return around lunch time (uk time) then dropped down to £35 due to greed.
It's been a fun first live trading day!
Now to be more smart and to master technical...