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EURGBP Break And Retest | Two Scenario's EURGBP is trading within a large range on the higher timeframes and is currently trading within smaller ranges on the lower timeframes. This is EURGBP on the daily Earlier this year price strongly rejected higher prices at the top of the higher time frame range, so we can expect price may fall to the bottom of the range in future. Price on the 1H chart has been testing the strong .9000 resistance level. Currently price has strongly rejected this .9000 resistance with a bearish pinbar and strong bearish momentum afterwards. We have marked two scenario's on the chart, and currently it looks like the bearish scenario is playing out. Follow us for more free analysis.
Short
by BlueFireForex
NZDCAD 1H Bearish Pinbar At ResistanceNZDCAD on the 1H has formed a bearish pinbar signal near the very strong 0.8800 resistance level. Price on the lower time frames has formed a symmetrical triangle, and has strongly rejected the top of it with the pinbar. On the daily chart we can see price overall is downtrending and is heading up likely to attempt to test the higher time frame downtrend line to form a lower high after making a lower low earlier this year. However as price is testing the strong 0.8800 level resistance and currently is failing to break above, we can assume that price may have reached its peak around this level and look for shorts from here. We are aware price can continue further up from here and we can lose this trade (like with any other trade), but it would be better to take a high probability trade in this area and lose than to miss out on the opportunity due to fear of losing and for it to reach or surpass targets. We will be targeting at least the .8600 level for this pair.
Short
by BlueFireForex
EURJPY Daily Downtrend Break OutEURJPY broke out of a higher timeframe downtrend last week. Price also broke out of two strong resistance areas with the EUR strength we have seen for the past few weeks. We can see two possible scenarios; 1.Price falls to retest the strong support/resistance (red line) and continues with strong bullish momentum 2.Price breaks back into the downtrend creating a "fake out" and bearish momentum forms with EUR pairs Our bias for EURJPY is currently bullish as a result of the current strength in EUR pairs. To change this bias we would need to see price break back into the downtrend.
Long
by BlueFireForex
GBPUSD Possible Triple TopGBPUSD is in a range. Price is currently in a strong uptrend, heading towards the top of the range. Looking back on the charts, price has strongly rejected the resistance at the top of the range multiple times before, meaning this is a strong level. We would like to see price reach the resistance and reject with strong bearish momentum in the form of either 4H or 1H bearish engulfing candles, or pinbars. We are also aware of the up trending strength in this pair currently, and realise price can continue pass this level.
Short
by BlueFireForex
1
EURUSD Possible Break And Retest EURUSD has just impulsively broken above a strong level of resistance, marked with the red line. We forecasted this possible trade idea last week. Price is moving in a strong up trend on the 1H and 4H charts. We are now looking for price to retest the resistance now turned support, and/or one of the up-trend lines marked on the chart. We would like to see price ideally retest the S/R zone in line with an uptrend line, adding more confluence to a long position. This would be confirmed with a strong bullish engulfing/pinbar candle formation on the 4H or 1H time frames We are also aware this can be a fake out, and price can reject higher prices and fall back below the S/R area and back into the range, targeting the lows. Thats why we always wait for confirmation and confluence when trading.
Long
by BlueFireForex
1
NZDCAD Head & Shoulders Forecast Playing OutWe forecasted this NZDCAD head and shoulders last week. Our position is now running at over 4.15% with over 2.5% locked in with our stop loss. Now risk free with guaranteed profit. With experience analysing and trading in the live markets we were able to forecast the right shoulder far before it was confirmed, due to the nature that price was rejected the previous highs of the left shoulder. This was a very high probability trade due to all the confluence factors in line with eachother; 1.Multiple rejections of strong resistance level (red line above price) 2. Rising wedge break and retest 3. Head and Shoulders pattern 4.Right shoulder failing over and over to break the highs of the left shoulder 5. Bearish engulfing on the 1H time frame 6.Strong bearish momentum on the 4H time frame. This was our entry point, with a stop loss above the right shoulder highs, and a target at the bottom of the range, but trailing our stop loss according to our BlueFire Strategy as price develops safe levels. We were able to enter at the break of a minor 1H resistance at the top of the right shoulder, which is a part of our strategy.
Short
by BlueFireForex
AUD/NZD - Short Setting an order for a short on this pair as it looks to be showing resistance at this major area. there is major support below and it is in an up-tend however, i believe we are going to see a pullback. I will close partial profits at the support below and let the rest of the trade run on a break even stop. Very simple. If you have any questions or want to learn more about how i trade, leave me a message on here or on my instagram! Have a great week. Saxon
Short
by ProsperousTechnician
What should we do next with USDxHello Trader around the world, how about your last friday, did you trade? Last friday I've trade the USDCAD and AUDUSD currency For AUDUSD I Long and lost already But USDCAD still at the big resistance and I have short already and put a stop loss at 500pip I really want Monday to come fast as I can Today I want to sharing all of you learn about How the currency connect Sometime maybe someone Long and Short position in the same time with same currency It was no good Long EURUSD and also Long USDCAD is wrong But Long EURUSD and Short USDCAD is great Cause if we look at USDx or Dollar index And try to compare with any currency you will see something connect First you shoud know that USDx will move same with USDXXX currency and XXXUSD will move converse in the same time Example Now USDx move up USDCAD should move upward EURUSD should move downward For now about USDx you will see a price have break already so if the price will continue to move up Price should comback and rest at the old Resistance or new support If you see a price move downward to support Is mean that USDx move downward Is mean that USDXXX move downward too Is mean that XXXUSD will move up Did you get it? I hope that the things that I have learned around 3 years can help you and you will be a great trader if you can Trade is a lot of things you have to learn And we always have to update a strategy Is didn't mean you know something and you will rich from it You have learn a lot of things and use it at the right time, timing is so important Just it, that's all for today About how there r connect Sorry for my bad English Hope this week you will get a lot of money Goodluck
TVC:DXYEducation
by TeamothyTrade
USDPY Buy/Sell?Indicators vs Price action Understanding price action is key in this market, knowing were price is and what are the possible scenarios that may play out is something that comes with time. I understand why people are shorting this pair, but in reality there's no pattern for a short yet. If you go to the HTF (hire time frame) you will see a very clear reversal pattern... and what pattern is it? inverse H&S. this tells me I'm gonna look for buys to possibles price areas were price has been in the past. 1. The wicks zone & 2. the 111.000 that completes the 3 touch pattern on the ascending channel. Until there's a bearish break of trend line and RETEST, i would't recommend to short his pair. Indicators lag, price action will give you the insight you need to have an edge on the market. Trading is about probabilities & other standing were price is and what scenarios may happen. And overall risk management/capital preservation. Patience is your biggest ally
by adamesfabian1
How I traded GBPUSD for a 10 to 1 win todayHello all - DuncanForex here with some trading analysis I thought I would post a tutorial about how I traded GBPUSD today. I did enter aggressively expecting it to head higher. The reasons for entering were as follows. Sentiment view that a Brexit Deal was on the horizon. GBPUSD and cycling higher nicely making higher highs and higher lows I was looking to enter at the 50% retrace area as it was near to the new level of support from yesterdays highs. The candle that closed below the support line created a slight bullish wick and so I entered once is cycled higher on the 5 minutes chart. I closed the position once it created a bearish pin bar on the 5 minute chart - after the next candle closed creating the retrace - I go out of the market. Also it was very close to the 1.30xx area so was a good place to take profit I have posted a mobile screenshot on my website of the trade so you can see it. The trade played out well and was completed in less than 4 hours. If you want to learn more about identifying trades like this, I look forward to seeing you at my website Safe Trading Duncan
by UnknownUnicorn483829
1
Prediction friday: XAUUSD BearishGoodmorning, Remember this is just for educational purpose. To build discretion as a trader and continue to improve. Today we predict a move at XAUUSD. The price is in an uptrend. After it hits a pretty significant structure level it developed a Head & Shoulder pattern. The head and shoulder pattern broke and also the previous outside return was broken to the downside. This means that the uptrend is no longer valid and we could see a reverse. When we drop down to the 240 chart we saw the price pushed back into the .786 fibonacci level. (also got a .618 level hit on the current impulse at the daily chart) It developed a nice double top. I think we could see a push lower into the next support area's. I also updated the previous prediction. Lets see what happens.
OANDA:XAUUSDEducation
by TimBrent
Quick Tip for Traders: (Please Read)In the past I've often left trades and forgotten I had them open. It's ALWAYS ALWAYS ALWAYS IMPORTANT to place a Stop Loss and Take profit, for every trade you place, especially if you Day/intraday/Swing & Position trade. I don't often scalp and if I do I'm usually in and out very quickly in around 10-15 minutes. Now lets say you place a trade, entry after candle close, from a level of support or resistance, test/re-test, pullback, breakout etc. Main priority is to establish the risk which I either make tight which is dependent on the trading environment (Trending) or if I'm going to hold the trade for a long time then SL below previous low. Followed by how much profit to take. Let's say the market is likely to increase 200 pips, I personally would make sure my TP is is around 20 pips under. Then, for joining the trade, I make sure almost every trade is made on either 1 hour chart or 15 minute, because pullbacks are more defined if you're able to establish the trend. I only use the 5 minute chart for re-entry if I've missed an opportunity. If I entered at 1.20514, I would be in around 60 pips profit. The beginner idiot me would have left the trade and done something else. It's important to establish if you're in profit, pips are like points that you score in a game. You play tactically and defensively to score as many points as possible, so if you place your SL at say 30 pips in profit, if the market turned on you, you'd close out in profit rather than a loss, in which case you'd now be running a risk free trade. Obviously, as the pips stack up, naturally you'd increase your SL in profit as well. So I hope this tip is helpful and improves your trading and limits your losses. Have a blessed day!
by UnknownUnicorn2215917
2
#DeMARK #Sequential Tutorial 2 - Trend & Reversal (Bear -> Bull)Note: This tutorial is based on the comments made in Jason Perl's book DeMARK Indicators. I strongly recommend you to read this book if you want more in-depth knowledge. I publish this tutorial for educational purposes only TD Countdown - Bullish Case 1. Definition TD Countdown is the second component of TD Sequential and cannot come into play until a TD Setup formation is complete. Once the first condition is met, TD Countdown can begin, from the close of bar nine of TD Setup (inclusive), onward. TD Countdown works in either direction: For the bullish case, the increment occurs when the current close is lower than the low two bars earlier. This price relationship is an important distinction from TD Setup, because the market must be trending for TD Countdown to objectively identify the likely exhaustion point for a trend reversal In my TD Enhanced Sequential indicator , TD Countdown is represented by circled numbers from 1 to 13. Note these numbers from the countdown phase: 3/4/6/7/9/10 were replaced by a special character. 2. Requirement # Prerequisite: As soon as a TD Buy Setup is in place, we can start looking for the first bar of a TD Buy Countdown # To initiate a TD Buy Countdown With bar nine of the TD Buy Setup in place, there must be a close less than, or equal to, the low two bars earlier. Bar nine of a TD Buy Setup can also be bar one of a TD Buy Countdown if it satisfies the previous conditions. Unlike TD Buy Setup, TD Buy Countdown doesn’t have to be an uninterrupted sequence of qualifying price bars; the TD Buy Countdown process simply stops when markets are trading sideways, and resumes when prices start trending lower again. # Nested TD Buy Countdown On bar 9 Setups, an additional step exists to check if a Countdown is already in place. In case a previous Countdown (A) is detected, a new nested Countdown (B) initiate without ending the (A) Countdown. You will be able to detect the start of a nested Countdown with a clear graphical signal on 9 Setups: Start of Normal Countdown: 9 Start of Nested Countdown: Color Codes: Green/Red : Perfected BUY/SELL Setup Gray: Unperfected BUY/SELL Setup # To Complete a TD Buy Countdown The low of TD Buy Countdown bar thirteen must be less than, or equal to, the close of TD Buy Countdown bar eight, and The close of TD Buy Countdown bar thirteen must be less than, or equal to, the low two bars earlier. When the market fails to meet these conditions, TD Buy Countdown bar thirteen is deferred and a plus sign (+) appears where the number thirteen would otherwise have been. # TD Buy countdown cancellation Although a developing TD Buy Countdown doesn’t reset itself if there is an interruption in the sequence of closes each one of which is less than, or equal to, the low two bars earlier, there are a number of built-in conditions, or filters, to help the trader recognize when the dynamics of the market are changing. These filters erase the as-yet-incomplete TD Buy Countdown. If the price action rallies and generates a TD Sell Setup, or If the market trades higher and posts a true low above the true high of the prior TD Buy Setup—that is, TDST resistance. As we may have now, 2 countdowns in place at the same moment, it is useful to identify which countdown is being cancelled. The "X" character indicates a Countdown cancel. These colors clarify which countdown is impacted: Green/Red : Main countdown Gray: Nested Countdown This completes the second tutorial. More to come. Also check my profile to access more content. Take care MATHR3E
BITSTAMP:BTCUSDEducation
by MATHR3E
NZDUSD Long 3 to 1 or more - USD WeaknessHello all - DuncanForex here with another trade idea With USD starting to realise weakness across the board EURUSD has flow higher Whilst GBPUSD has continued sideways due to GBP weakness EURUSD is doing well and continuation entries have supported this driving higher today. XAUUSD is a winner if you are in it (I'm not due to an overnight retracement taking me out before flying higher today :-( - however that is the way it goes. With NZDUSD _ I am looking for this to head higher on sentiment news (Unemployment rate and Employment change) and catch up with all the other XXX USD bullish price action So I hope you're in it DuncanForex.com is now live I look forward to seeing you there
Long
by UnknownUnicorn483829
EURUSD 50/50 market Tight Trading Range Continues The bulls reversed the market up in two small legs (Jun 3, Jun 24) from the nested wedge bottom. Last week formed a second entry for a potential larger second leg up where the Jun 24 rally is the first. However this has not yet triggered and today is currently a bear bar near the low of last week. If this week closes as a bear bar, it will be a weaker buy setup and decrease the probability. The bulls did not get strong consecutive bars. Instead prices mostly overlapped with heavy two sided trading. This is not indicative of a strong new low. The probability remains unchanged in a 50/50 market. Any breakout up or down is likely to get sucked back before succeeding. Until there is a breakout, there is no breakout and neither side is in control. The bears may end up getting a larger third leg down comparable to the 24 Sep - Nov 12 and Jan 7 - May 20 legs. This would form a larger wedge bull flag and increase the probability to 60% for a test of the start of the bear channel around the Sep 24 high. If you found this helpful please like! Feel free to comment or ask questions. See more at my website on how to learn to identify probabilities, create an edge, and develop your traders mentality.
by tradersmentality
#DeMARK #Sequential Tutorial 1Note: This tutorial is based on the comments made in Jason Perl's book DeMARK Indicators. I strongly recommend you to read this book if you want more in-depth knowledge. I publish this tutorial for educational purposes only TD Setup TD Setup is the first component of TD Sequential. It determines whether a market is likely to be confined to a trading range or starting a directional trend. TD Setup works in either direction: It consists of a nine consecutive closes; each one than the corresponding close four bars earlier. In the TD+ Enhanced Sequential indicator, TD Setup is represented by numbers from 1 to 9. 1. Bullish case (TD Buy Setup) # Definition: Step1: Bearish TD Price Flip. The prerequisite for a TD Buy Setup is a Bearish TD Price Flip, which indicates a switch from positive to negative momentum. TD Price Flip is bar 1 (Red) out of 9. Step2: TD Buy Setup After a bearish TD Price Flip, there must be nine consecutive closes; each one less than the corresponding close four bars earlier. # TD Buy Setup “Perfection”: The low of bars eight or nine of the TD Buy Setup or a subsequent low must be less than, or equal to, the lows of bars six and seven of the TD Buy Setup How to differentiate perfected and unperfected Buy Setup within TD+ Enhanced Sequential Indicator: Perfected Buy Setup is a RED character '9' Unperfected Buy Setup is a GRAY character '9' # Interruption of a TD Buy Setup: If, at any point, the sequence is interrupted, the developing TD Buy Setup will be canceled and must begin anew. 2. Bearish case (TD Sell Setup) # Definition: Step1: Bullish TD Price Flip The prerequisite for a TD Sell Setup is a Bullish TD Price Flip, which indicates a switch from negative to positive momentum. TD Price Flip is bar 1 (Green) out of 9 Step2: TD Sell Setup After a Bullish TD Price Flip, there must be nine consecutive closes; each one greater than the corresponding close four bars earlier. # TD Sell Setup “Perfection” The high of TD Sell Setup bars eight or nine or a subsequent high must be greater than, or equal to, the highs of TD Sell Setup bars six and seven How to differentiate perfected and unperfected Buy Setup within TD+ Enhanced Sequential Indicator: Perfected Sell Setup is a GREEN character '9' Unperfected Sell Setup is a GRAY character '9' # Interruption of a TD Sell Setup If at any point, the sequence is interrupted, The developing TD Sell Setup will be canceled and must begin anew. This completes the first tutorial. More to come. Also check my profile to access more content. Take care MATHR3E
BITSTAMP:BTCUSDEducation
by MATHR3E
1
MES - New All Time High - Risky BuyS&P New All Time Highs - Risky Buy The Emini and S&P 500 made a new all time high again today, leading many to believe this market is still strong. In some ways it is, but it is more important to realize it is also in a bull flag trading range. This makes it a risky place to buy up here. This is where strong bulls who bought lower will start looking to take profits, and strong bears will start looking to sell for a move down. Why is it risky to buy now? There is only a 40% chance of a measured move up based on the height of the trading range. And the risk needed to enter now is large (below the bottom of the trading range). There is at least a 50% chance of a test down soon, back into the range. The middle of the trading range is a magnet and will likely get tested before the bull trend continues. Furthermore, if the bears are soon able to create a strong reversal bar for the large wedge, it could increase the probability to 60% for two legs down. If there is a quick and large move up in the next few weeks, it would likely act as a climax and final flag reversal, increasing the likelihood of a sell off. Dont think just because there is no reversal yet that the market cant or wont sell off. Look at the past two sell offs from this area. They began from bull bars (Jan 18 two bar reversal), or small inconspicuous bars (Sep 18 doji to outside bear bar). But the follow through was strong and fast. Of course, this does not mean a shorter term trader cant buy and make money. Day traders can do many things investors do not or should not. But as far as a long term investment, this is simply not a safe one to buy at the current price level unless you are willing to sit through a deep pullback and scale in. And if you are - why not just wait and buy then? If you found this helpful please like! Feel free to comment or ask questions
CME_MINI:MES1!
by tradersmentality