Reasons for -Firstly as we can clearly see we are in a Triangle formation -We have had multiple bounces from the Bottom trend line which is now acting as Support -The previous Four hour candle was a doji on the trend line -Now this 4 hour candle stick is forming a nice big bullish candle which signifies Bullish momentum from Trend line acting as Support -We...
EURJPY hits the trend line and it can bounce from it back down or can breaks over it and then we can expect further upside.
Reasons For -Firstly after bouncing of 1.6000(Our key level) we have been very bearish as you can see -Also we have been putting in Lower Lows and Lower Highs -We have also cleared our key level at 1.55000 and have been putting in bearish movement -Now we are trading below 1.5500 the only smart thing to do is to sell as we can clearly see strength to the...
Reaons for -Firstly we are forming a triangle -We have just bounced of the trend line with a bearish engulfing -Also a bearish hammer has been put in place -We also tested this area a on Thursday and rejected this zone there fore i believe it will do so again Price action leaves clue in structure :) If we go to the daily Timeframe we can see -Lots of long...
We have a variety of 4h signals in this pair, which yield excellent results to the vigilant. In the daily a considerably large downtrend signal is about to confirm. I have entered a daily trade ahead of confirmation. You can enter now, before it's confirmed, because I think the weight of the evidence supports its success. As many know, I was working for a...
Hi, in this chart I conduct quarterly analysis of all currencies pitted against gold to get a good idea of relative strength for them. We have seen a period of domination of the dollar, which has had a slow quarter. The reason for these movements are purely fundamental, related to money flows, and don't change all the time like most retail traders expect. Despite...
I spent a long time analyzing this pair, contrasting views with my colleague Nick Coulby, who specializes in Elliott Wave analysis, and working on my own time at mode analysis of this pair, as well as adding the result of insightful discussions held at Tim West's 'Key Hidden Levels' chatroom, regarding this topping pattern, as well as the patterns in the gold...
This is my weekly, monthly and quarterly Pound forecast. The uptrend is very strong but might have reached critical mass already, and is bound to correct very soon. I plotted potential levels and signals based on time at mode analysis of it. Right now, I'm bearish on the Pound, in the short term, but bullish in the longer term, so I'd like to wait to buy the...
Only one Reason RSI Bullish Divergence and if we are able to close above $42 on weekly tommorow. I am a Contrarian who basis trade on Risk to reward. Now Risk seems favourable For Longs Disclaimer: Do your Due Deligence Before Investing/Trading as Views are Personal
Let’s glimpse into the basics and do not forget to use these rules. It’s proved - they do work! TRADER’S RULES 1. Always work in the direction of the dominant trend 2. Find the strategy where you are most successful, namely the one that gives the minimum account drawdown 3. Reduce the number and size of transactions in case of losses, and vice versa 4. The main...
I'll open a pair trade to minimize risk in my GBPUSD long setup. There's a weekly sell opportunity in the NZDUSD chart, which will give me a relatively low risk entry as per my analysis that gold isn't done falling, and that NZDUSD (and GBPNZD will resume the trend they are in). Position size is based on the ADR figures for both pairs, risking 2% and aiming for...
There are 2 Trade plans but both need confirmation of the breakout and a retest of the breakout area (i.e. resistance should and must become support to validate the breakout) 1st Game Plan - Long Silver at 16.71 stop at 16.03 (risk 68 points) Target 17.71 (100 points). Stop is rather wide but look to raise should breakout validate by testing the previous...
Platinum did hit a low at 1086 but a corrective move was is now confirmed as a bear trap. Price did recover but failed to break above 50% retracement at 1185 and so the longer trend continues. Only a break higher above 1185 or out of the long tern down trend line will be sufficient for the bulls to retake control. Short in this sellers market.
Patiently waiting for either break of the trendline or waiting to retest a high at 800 area before looking to short it. 1) short if break out below the short trendline - targeting new low 2) wait for a test higher to short
THE CLASSIC PSYCHOLOGY OF A MARKET CYCLE. WE SEE THESE EMOTIONS THROUGH RETAIL INVESTORS WORLDWIDE. MAKE SURE YOU HAVE 20/20 HINDSIGHT ON GOLD BEFORE YOU GET CAUGHT IN THE HERD. REMEMBER, NO BIAS. @YUNGFINANCE
Here we can see the current A-B boundary from the Daily TF is Bearish...we can see the C pull-back has been a nice 50%. I favour and work most technical off the 2H TF and the A-B boundary here is also Bearish...we can see the C pull-back has been a nice 38.2%. Now here is the ugly bit (LOL) as we can see price is currently stuck in consolidation and the pennant...
Okay so the chart you can see has a fairly steep channel and that's probably what you've noticed first. However, let's look at the wider picture. The downtrend has been in place since the 5th December 2014. On the 28th of December we saw the trend take shape as the lower-high formed a trend line with the 5th Dec. price. On the 2nd of Jan we saw the price come...