Just back testing a chart right now as I seen 2 really nice moves that would require a great deal of confidence in this market to trade but I am going to post just for my own reflection and so I remember its something I should look at as well. so, the yellow line drawn was the previous days high (Friday), price seen a huge spike upwards breaking that high...
Update from previous idea: okay, this is bad. switched over to an older chart that has analysis on it from when eth was actually this price, you can see these purple lines have played nice support on the short term and we are starting to see a nice bounce in price. possibility of a double bottom but I don't like the fact that we made a lower low. lets be...
Possible trade entry here, depending on what price does, there are several factors that are playing against this idea but It's not a big deal if the entry does not get triggered. the grey lines across the chart is the previous days high/low. price has broken the high today showing upward momentum here. looking for an OTE entry position here chasing higher...
Update from previous idea: it has been a while for the blog, I have been focusing a lot of time on forex the past week or so and eth has just been depressing to look at and it still is. just thought I would post an update here, we have blasted through this fib and are at the -0.618 which also coincides with this big yellow line, I am not saying this is gonna be...
Update from previous idea: broke back into the yellow line, seeing some rejection at my red price box here, not ideal we need to push back above the thin yellow line at least. we are also back to testing the 0.5 fib so thats good news, remember the more times we test the more likely it is to break! quite boring price action on ETH the now thats why I have been...
Update from previous idea: we have seen a bullish reversal! I am now looking for a new long position, a few things here are pointing to this level, my yellow sloping line has now flipped as support and a test of this line would hold a very bullish structure for further upside. also my 0.72 fib retrace is right on this level so I would love to see both of them...
Update from previous idea: okay I had the right idea hahahah but the execution was terrible, stop too tight and TP to shallow so the risk to reward was not worth it at all, I should have risked more and been more greedy lol but we are learning, I just posted a trade from the next day and that one was 10x better. I've realised my analysis is good but the actual...
Working on forex still, took a really nice trade yesterday and just close it out today at around 50 pips, I had been watching several pairs the past couple days and was waiting for the patterns to play out. I also was looking for bearish order blocks and if you look at where I took my fib from it was off the back of a big sell off. I looked for a few things for...
Update from previous idea: Worst case played out once again here, it just looks like we are making a move to recover the big wick at 3500 the liquidated everyone. even to recover half of the wick is good enough for price but breaking my yellow line does signal to me bearish price action mid term. we broke the line and closed a candle outside so to confirm...
First post in a long while about forex, I am just gonna say I think this is a high risk trade but a VERY tight SL has been set here, willing to lose this money but its just a quick scalp. couple of reasons for taking this trade, RSI is reaching over bought level singling a short term cool off maybe drop down to previous support. we have broken out of my...
Update from previous idea: I mentioned yesterday the 0.5 fib hopefully holding if we push any further down and price did just that. its nice to see but there is still al long way to go, we are also in a triangle formation which needs to break to the upside so that is what I am focusing on now. even if we break up my thick white line will prove as resistance for...
Update from previous idea: so we have seen a further drop which was expected as there is a double top pattern playing out, question is where is the bottom gonna be. so the previous drop down seen support just under where we are now and I would really like to see a higher low. I moved this green support box over from the last time it was relevant and sure enough...
Update from previous idea: We have fallen back to the previous swing low, good thing is we are finding support at this level, bad thing is.... we fell back to the previous low. so, broke the low, bearish sing but it could be a wick to hit SL and pump to the upside, the thing that is confusing me slightly about this drop is the liquidity. we have fell down to...
Update from previous idea: okay well that didn't go to plan, hope people had a tight stop on support and didn't lose too much money (I didn't). so I still have a trade open, I am buying at these levels, until we see a break of my thin white line at the bottom of the pattern here, it is risky but getting entries on the way down allows me to not depend on guessing...
Update from previous idea: changed the chart to the 4hr time frame as I believe this flag is still relevant to the 4hr (barely), this is a larger timeframe pattern we are edging on being too long consolidation to be a bull flag but I just want to show that we have broken out and closing a 4hr candle above is the first step to this breakout. we are also finding...
Update from previous idea: last time we looked at this chart we were struggling to break the 0.5 resistance, price has since flipped it as support and managed to touch the golden pocket fib being rejected exactly at this level. so the next target is getting back above the 0.618/65 which is now back to acting as resistance, with the point of control being just...
Update from previous idea: We moved to the upside! bullish momentum is nice to finally see. still getting rejected from the 0.618, we NEED to see a break and test of this level before we are truly bullish on the longer term timeframes. I also think we are in this falling wedge maybe even a bull flag depends how long we sit in this formation for. if we are in a...
Update from previous idea: After having a really successful trade based on several confluences, I have taken a new fib now, we broke the high of the last fib so a new mid term fib looking at the retrace back down, to see if we can hold this bullish structure. so, we have seen a nice bounce off the golden pocket which is extremely bullish but the level has been...