GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
OILEX LD ORD NPV, LLOYDS BANKING GROUP PLC ORD 10P, UK OIL & GAS PLC ORD 0.01P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), VAST RESOURCES PLC ORD 0.1P, EUROPA METALS LTD ORD NPV (DI)
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
My outlook based on my method of trading. What I would look for on this instrument.
To me it's like artwork, I love it.
This is my overall picture of this pair. All simplicity. This does not encourage my directional bias. Just something to take note of.
Could possibly be a buy on GJ
let's see what we can pull together.
Possible retest of the range that was broken.
Possible continuation in the direction.
Posssible reversal once hit the level.
2 Resistance lines approach.
Looks like it's forming a head and shoulders. Yet to confirm.
RSI looking like it's going to make Lowe Highs (LH).
Waiting on 2 speeches that could confirm or defer this idea.
If candle closes below previous low and RSI hits the red line. Short idea confirmed.
Risk reward ratio 3/1.
If I had taken the trade, would have made 178 pips. practicing patterns and looking at how the chart is reacting to my resistance / support lines. Wedges, triangles, channels, fib levels / retracements. A lot of planning and decision making done. No trades taken, however moving in the right direction on a technical level. I will be working for a trading desk by ...
It turns out I was right. Price did drop as expected.
Was just testing to see if I could find another head and shoulders pattern on the usd/jpy pair. See if the trade idea is valid.
The head and shoulders pattern that could possibly form from just a technical standpoint. I am by no means an expert on trading, I am still learning. I'm just practicing ideas and documenting them to further my understanding on chart analysis and techniques in the forex market. My goal is to find patterns to train my mind and my eyes in what to look for ...