MUCKY FILM TIME...Old strong resistance turned new support and TL been used as good support also, price is currently sat at both of these so we can only see price movement to the upside.
A double setup where 2 things confirm it is a good trade to take cant be ignored, look at it like this.... You are looking for a film to watch ( not a mucky adult 1 ) ;p you come across a film but you cant decide weather you think it will be any good so you ask Tom and he says its good, but you still are not sure so you ask Jess... she also says its good so because 2 people backed it up ( support and trend line ) you decide to watch it... the film ends and.... you hated it and wasted 2 hours of your life you cant get back so you loose 2 friends haha, only joking. You watched the film and love it :) but it was only because of your 2 friends backing it up ( support line and trend line ) you saw it.
So when you see a double setup that fits in you trade setups don't ignore it.
Educacion
BROKERS ARE BAST@RDSblue arrow marks a 360 pip manipulation spike, these are used by brokers to wipe out peoples trades who have set orders or have SL set around key support or resistance areas, its easy money for the brokers!
You can see how much of a key area this price was from our orange arrows pointing out where price entered the box and bounced using it as support, now the sneaky, slimy little brokers would have seen this lovely key level formed and knew that loads of people would be setting orders or SL around this area and they would be rubbing there grotty hands together because they were getting ready to manipulate the market and wipe everyone's trades out.
You can spot manipulation spikes easy because all they are is a unusually long shadow of a candle that form in the opposite way to the trend of the market, after this spike the price will come back to the market and carry going with the trend.
To sum it up brokers are BAST@RDS.
BUYING A HOUSE?We are waiting to see if todays candle closes above or below this key resistance level, you can see how strong this level is by where price has previously touched this level and then bounced, But we think price will bounce and make further movement to the downside.
You could look at this the same way as buying a house, would you jump in and buy the house straight away, or would you get the house checked out and check the foundations are ok by professionals to make sure nothing is up with it?
Same applies to support and resistance levels, you must wait to see if price breaks or bounces off them so you can assure the foundations of the trade are stable! After all you don't want to buy a dodgy house that will end up costing you money... and you don't want to go placing a dodgy trade that will also cost you money.
So do your research before doing anything!
Walk the plank.......( circled ) here you are in no mas land half way in-between strong support and strong resistance, would you open a trade here? if you said YES then you really are gambling and should go to a casino, just ask yourself why would you throw money away on a trade that could go either way? you may as well put your money on RED or BLACK.
You have to be patient and wait for a retest of either support or resistance or set some orders around these levels so you can catch a good trade, you really need good self control in trading or it will f#@k you up.
Just remember you don't always need to have a trade open on your account, We have gone weeks without trading before either due to in correct market conditions, all our criteria's for taking a trade not been met or just down to personal circumstances, if you are not in the correct mind-set you will not make good trades, so step away from the markets until your head is straight.
I hope you take this on board... if not you will go over board hahaha you will walk the markets pirate plank... How can a plank walk the plank you ask yourself ;p
Ive lost my wife... has anyone seen her? ;pI'm not going to point out where price touches these lines as it really is simple to see that these levels have been used as both SUPPORT and RESISTANCE, how do people not spot these? Do they constantly walk around with eyes closed? or more likely with heads in phones on dating apps looking for there next sexual transmitted infection ;p
It is so simple but yet people complicate trading or are lead to believe that you must have 1000000 indicators and lines on your chart to spot the next move..... WRONG!!! Look at our charts and you will see how clean they are and that we use NO indicators at all and only trade off support/resistance levels, Trend lines and the candles going into these levels... And we are not doing bad ( Which Lamborghini do I take out today? ) ;p
But honestly just listen too yourself, learn too trust your own setups, erase people out your life who are not on the same mission as you ( because they will only drag you down, I have lost my wife... has anyone seen her? haha ) And you will see an improvement in trading.
If you have any questions about trading or life in general then just send us a message and I will be happy too help.
Ive lost my wife... Has anyone seen her? ;p I'm not going to point out where price touches these lines as it really is simple to see that these levels have been used as both SUPPORT and RESISTANCE, how do people not spot these? Do they constantly walk around with eyes closed? or more likely with heads in phones on dating apps looking for there next sexual transmitted infection ;p
It is so simple but yet people complicate trading or are lead to believe that you must have 1000000 indicators and lines on your chart to spot the next move..... WRONG!!! Look at our charts and you will see how clean they are and that we use NO indicators at all and only trade off support/resistance levels, Trend lines and the candles going into these levels... And we are not doing bad ( Which Lamborghini do I take out today? ) ;p
But honestly just listen too yourself, learn too trust your own setups, erase people out your life who are not on the same mission as you ( because they will only drag you down, I have lost my wife... has anyone seen her? haha ) And you will see an improvement in trading.
If you have any questions about trading or life in general then just send us a message and I will be happy too help.
Aeroplane running out of gas?This is just an update on this trade we have been holding since the 1.71882 area, We can currently see price at another key resistance level, now we might see price break through this and make further movement up... or we could see a drop now after a few days of flying high ( the aeroplane might be out of gas and need a refuel )
Even though we currently hold a position in this trade we will be setting some orders to catch a movement in either direction, this is such a key level that we feel we will see another big move in either direction.
This is a good way of trading as we like to try and outsmart the market ;p our current SL on the trade we have running is at 100+ pips anyway, so this is technically a free trade.
AJ Anthony Joshua smashing through things.....We have 2 support/resistance lines that have been well respected ( you can look and work where out for yourself this time ) because how will you ever learn if people keep pointing these out for you with big colourful arrows :p, We also have a lovely trend line ( TL ) that has been respected despite breaking out it didn't last long and came back up and started respecting it again.
Price is currently sitting at 1 of our support lines and on our TL so we can only see upside movement with this been a double strong setup.
We can possibly see price break through our upper resistance line if buying power is enough, its like Anthony Joshua the heavyweight champ smashing his way through all his opponents, and the pairing and him just happen to have the same initials AJ ;p
Forex trading is NOT hard...Drawn on the chart we have a key monthly support and resistance level ( been used as resistance in this chart ) On the monthly chart this level has been respected and touched the past 4 months... Get the chart up yourself and check you lazy bas#a'rds haha, You can also see this key monthly level has been respected on this chart ( 4H )
Now you can see why it is so important to check other timeframes once you have drawn these key levels on, Because the more timeframes your levels are respected on then the stronger setup it is!
Simplicity really is key to success in trading, all these so called gurus put charts out there that look like they blew up a paint factory, this is because they want to confuse people and make them think you have to be clever ( I'm living proof this isn't true haha ) and put 20 years practise in before you start seeing returns, And also if people believe this bull#h't they are more likely to buy there services when really it is probably just some lad from a shitty council estate who lives in his mums basement and hasn't got a clue about trading and the only support line he knows is the addicted to wa#nk'ng support line his mother makes him call once a week.
FREE SIGNAL, blind leading the blind.Support/Resistance line = Blue line
Trend line ( TL ) = Yellow line
Blue + Orange arrows = Support
Purple arrow = Resistance
Looking at this chart it took me seconds to spot these key levels, Support and resistance level has been used strongly in the past and price on Friday came up to test this level as resistance, What makes this setup even stronger is price also came up to retest an old TL as resistance ( remember I spoke about this in my last post ) and bounced exactly where it tested our resistance line.
As you can see price bounced off these 2 strong levels and so far has made a bearish run collecting 20 pips on its way, We are expecting this trade to make at least another 50 pips and reach our target zone ( Green box )
Again this is just another example of how easy forex trading can be once you unlearn all the bull#@it that has been taught to you by idiots who don't know a thing about trading, it is like the blind leading the blind in this market.
TL BreakoutsHere we have 2 strong trend lines ( TL )
TL1 was touched by price 6 times before it finally broke out, and TL2 was touched 16 times before breaking out.
TL1 when price broke out it had a bullish run for 8 days and in this time it managed to collect 270 pips, going into this breakout there was a slowdown in selling power ( small bodied red candles ) and a lot of buying power ( big green candles ) suggesting that price was getting ready to explode and BOOM we had lift off.
TL2 exactly the same thing happened , price slowed down with small candles forming suggesting price change, then some bullish candles formed just before we had another BOOM... price then went for a day trip to the moon, this time collecting 420 pips over just 7 days. If you held this you could probably have afforded your own trip too the moon ;p
That would have been a lovely month trading for you just before Christmas making over 700 pips just on 2 trades! That's a hell load of mince pies.
So if you still don't believe how easy TLs are to trade and how affective they are you must be drinking too much tap water that the government are blindly feeding you fluoride in to numb your brains and keep you in line ;p
When a TL is broken by price DONT remove them off your chart thinking they are no good anymore... because sometimes price comes back down and tests them as support, but that is another lesson for another day... Don't want to overload your brain now do we? haha.
Forex trading is NOT hard...Drawn on the chart we have a key monthly support and resistance level ( been used as resistance in this chart ) On the monthly chart this level has been respected and touched the past 4 months... Get the chart up yourself and check you lazy bas#a'rds haha, You can also see this key monthly level has been respected on this chart ( 4H )
Now you can see why it is so important to check other timeframes once you have drawn these key levels on, Because the more timeframes your levels are respected on then the stronger setup it is!
Simplicity really is key to success in trading, all these so called gurus put charts out there that look like they blew up a paint factory, this is because they want to confuse people and make them think you have to be clever ( I'm living proof this isn't true haha ) and put 20 years practise in before you start seeing returns, And also if people believe this bull#h't they are more likely to buy there services when really it is probably just some lad from a shitty council estate who lives in his mums basement and hasn't got a clue about trading and the only support line he knows is the addicted to wa#nk'ng support line his mother makes him call once a week.
Coolio Gangstas Paradise, Support and ResistanceIf you can find a good support and resistance level or zone it will keep your bank account fed well for years.
As you can see the 1st purple arrow marks where price 1st tested this zone as resistance in 1995 when Coolio was at number 1 with "Gangstas Paradise" ( sorry if I've just made you feel old ) :p Then the price passed through this zone for the next few years eventually using it as resistance again in 2010, 2013 and 2017, Now price is currently in this zone again and has used it as resistance many times in 2018 and 2019, So 14 years ago this zone was 1st used and is still been used today, See why zones and levels are so important?
The same can be said about our bottom support and resistance zone but I'm sure your not that stupid you need that explaining also! Actually it is 2019 and there are a lot of brainwashed zombies about courtesy of the government, media and failing school system ;p
Anyway stop using your laptop to watch naughty adult movies and use it to find these key levels... you will also have a happy ending if you find them :p haha.
Old Friends Meet AgainHere we have 3 different timeframes open ( 1D, 1W and 1M ) On the same pairing EUR USD, each chart has the same trend line ( TL ) and same support level marked on them, You can see how important it is to put these level on your chart and keep them there because if you look at the 1W chart you can see that price respected our support line in 2003 then fast-forward a few years price came back down and used this same level as really strong support in 2015, 2016 + 2017.
Also you can see our blue TL on the 1W chart, Price respected this in 2008, 2009, 2011, 2013, 2014 and 2018.... Come on tell me I'm talking s#it.
So go away and locate these important levels and TLs and I promise you will make money.
Keep charts simple... Dont let them fool youORANGE ARROWS - SUPPORT
PURPLE ARROWS - RESISTANCE
Look at the chart and tell me that support and resistance and supply and demand zones are not the way to trade, then I will tell you to folk off ;p
As you can see that every time price entered into one of our zones it bounced or if it did break it made a big move, the same happened with our support/resistance line... Come on people it really doesn't take a genius to work this stuff out!
Find a strong area/zone of support and resistance, place them on your charts and price will respect them time and time again for years to come, this gives you a head start over the market, you see peoples charts that look like an artist has thrown up over them, charts with more lines on than a table at a wall street office party :p.... These indicators only confuse you and stop you seeing what's going on, look at our charts they are nice and clean and you can spot setups easy.
Keep it simple and you will succeed, confuse things and the market will destroy you.
Proyección GBP/USD Semana 06/08/2018En este caso podemos ver como el mercado por segunda vez ha mostrado un fuerte intento de ruptura del nivel de soporte, respaldado por el canal bajista que hemos trazado hace algunas semanas. En este caso, recomendaría ver el comportamiento de las primeras horas de mercado, pues puede que veamos un pull back. En caso de que esto ocurra, el esperar un patrón de velas de confirmación en H4 o H1 podría ser la mejor alternativa para operar este movimiento, pues debemos estar conscientes de la correlación a otros pares.
Royal Katze Trading Academy.
Fernando Borea.
Para dudas, consultas o apoyo en interrogantes sobre trading puedes contactarme por mensaje a través de TradingView.
Proyección EUR/USD Semana 06/08/2018En este caso vemos como el precio al final termina por romper el patrón triangular del que veníamos hablando desde hace varios análisis. En este caso, debemos prestarle atención a la linea de tendencia marcada con la linea punteada pues podría comenzar a ejercer presión al soporte, abriendo la posibilidad de una ruptura, o bien, que la misma linea de tendencia acabe por romperse abriendo una perspectiva alcista. Personalmente recomendaría esperar a ver que uno de estos dos niveles ceda o muestre fortaleza en patrones de velas en cuadros inferiores para tomar una decision de operativa.
Royal Katze Trading Academy.
Fernando Borea.
Para dudas, consultas o apoyo en interrogantes sobre trading puedes contactarme por mensaje a través de TradingView.
Support & ResistanceSupport and resistance levels are critical in financial markets.
They are very similar to pivot points, except simpler.
When the price of a pair goes up to $10,000 and goes down to $9000 USD, that $10,000 USD zone is now resistance. If it bounces from $9000 and up to $11,000, the $9000 level is now support and the $10,000 resistance is now broken and could potentially turn support, where it can bounce.
Generally, for resistance or support to break, a candle has to close above or below support and resistance. A wick above either is only the price “testing” resistance.
I generally wait for a close above / below as well as further movement in the same direction, and a possible volume break-out short term.
This is because a close above / below itself can be a fake-out, or a fake breakout, and continue doing what it originally was.The blue box is an example of a fake-out.
The more often support and resistance is tested, the stronger it is.
The stronger support or resistance zones are, the stronger they will break out.
For example, if a support is tested 5 times and breaks to the downside, it will move down further than for example, if it was tested 2 or 3 times.
Next post we will get into support or resistance zones and also examples on how to trade them.