so what have i done i have just drawn in some lines but these lines matter support and resistance should be a foundation of any trade plan trend lines help you get in and get out of a trade fast moves up often mean a fast move down will follow and vice versa the horizontal lines will be valuable tomorrow and next week etcetc when you can see what...
so we start with an empty chart we are looking for where we could place a trade at this point we have no preference over buys or sells we are looking to home in on some areas of interest we are looking for some tradeable patterns more on chart 2
get ready i have been waiting for this level to come for a while it s surged up today nearly there
This is just the weekly We are not at the highs yet expect a reaction when we get up there
its broken the lows there is divergence suggesting a pull back retest start looking for sells in the middle to top of the recent range bound action all shown on the chart
so you have now seen three charts you can do this on any pair , any commodity etc etc you can also trade the different time frames using the same principles if you are a scalper go smaller time frames to get your trade plan try the 4 hour the 1 hour and finally the 15 minute hope this has helped
now its getting interesting as we zoom in to the lower time frames we can develop our plan we can chose our best entry PA is now rotating before the next move Will it be up or will it be down WE DONT KNOW so how do you play this go to chart three
heres the weekly to follow will be the daily then the four hour
that s two pound pairs coming up to resistance good luck traders
could have a double top coming soon waiting for the 00 trade the chart is empty but add in BB s and trade the edges good luck traders
nice big move up today coming up to a previous swing high where there could be sellers waiting
There are a lot of reasons i like this for a sell...Soon candle pattern history structure level _sell Rsi is also extreme -SELL BB s are extreme -SELL i dont like that the close is nt below the trend line WHAT next watch the one hour ...let price come up a little and hope to get a sell in the 0.8730 to 0.8740 area (also watch pivot points on monday R1...
Interesting level it has just popped thro it and no bulls yet after such a strong move down i would expect to see a push higher soon by the bulls could be a 50-100 pip move up wait until you see a bullish confirmation on the 1 hour Patience dont jump in to early
Hello trader looking for a buy and hold trade on the dow next week if PA can come down a little lower first Look for bullish signals near the areas shown on the chart
after a big move that breaks thro structure the bulls in this case, will come in to test the commitments of the sellers so i am expecting a pull back soon ish
I have not given you a trade here What i would like you to do is to appreciate the power of the 00 lines ( red lines on the chart ,mostly ) the second thing you can watch for is the power of bollinger bands for assisting your entry Bollinger rules 1/ buy the bottom 2/ sell the top 3/AVOID the middle This chart is just for observation in ten days time to...
detail s are on the chart basically three possible trade areas take your pick
could be time to look for bullish confirmation go to the 4 hr or the 1 hour look for the following pivot levels 00 and 50 levels structure ,double bottom higher highs and higher lows bullish candle confirmations allow for a stop hunting overshoot