HOW TO FIND ZONES Zones are those spots on the chart where price has repeatedly reversed. However, it may be difficult at first for you to find these zones on the chart. There are several sneaky shortcuts that you can use to help develop an eye for finding zones. Some zones are extremely obvious and easy to find. Other zones are a little bit trickier and may...
A sideways market, or sideways drift, occurs where the price of a security trades within a fairly stable range without forming any distinct trends over some period of time. Price action instead oscillates in a horizontal range or channel, with neither the bulls or bears taking control of prices.
Support and Resistance Levels Trading Strategy. What is support and resistance? Support and resistance levels are horizontal price levels that typically connect price bar highs to other price bar highs or lows to lows, forming horizontal levels on a price chart.
HOW TO FIND ZONES Zones are those spots on the chart where price has repeatedly reversed. However, it may be difficult at first for you to find these zones on the chart. There are several sneaky shortcuts that you can use to help develop an eye for finding zones. Some zones are extremely obvious and easy to find. Other zones are a little bit trickier and may be...
Supply and demand. ... Supply and demand, in economics, relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy. It is the main model of price determination used in economic theory. You can see two supply and demand zones. The demand zone is where all the big buyers are located. The...
A double top is a reversal pattern that is formed after there is an extended move up. The “tops” are peaks which are formed when the price hits a certain level that can't be broken. After hitting this level, the price will bounce off it slightly, but then return back to test the level again. First, let’s define Support and Resistance: Support – Area on your chart...
The forex high and low strategy is based on the concept that if the price of a currency pair moves past the previous day’s high or low, then the market will continue in that direction of breakout. Note that with this strategy, the time period of consideration is one day. Therefore, this strategy can do well for day traders who close out all their positions in the...
Forex high and low strategy. The forex high and low strategy is based on the concept that if the price of a currency pair moves past the previous day's high or low, then the market will continue in that direction of breakout. The forex high and low strategy is based on the concept that if the price of a currency pair moves past the previous day’s high or low, then...
The Cypher Pattern The Cypher pattern starts with the X and A points. Point B retraces to the 0.382 – 0.618 Fibonacci level of the leg XA. Point C is formed when prices extend the XA leg by at least 1.272 or within the 1.130 – 1.414 Fibonacci extension. Point D is formed when it retraces the 0.782 Fibonacci level of XC
Support Support is an area on a chart that price has dropped to but struggled to break below. The diagram above shows how price drops down to the area of support and subsequently ‘bounces’ sharply from this level. In theory, support is the price level at which demand (buying power) is strong enough to prevent the price from declining further. The rationale is...
After breaking the weekly support of 142.50, we've consolidated below the level for quiet a while now. We've retested 142.50 as resistance for 8 days straight, not able to break, close and stay above it. After breaking to the downside of the consolidation box we now retraced back to the key level since we got positive results from this morning retail sales...
After closing last week with a shooting star back below the resistance level of 1.8250, we completed a fibonacci retracement of 71.00 on the daily TF. Creating a H&S pattern on the hourly TF we broke, closed below and retested the trend line and resistance level again. Im looking for a potential short to the D extension at 1.7700, with support in between at 1.8000...
Watching EURNZD I still believe we got some more room to the downside since we’ve rejected from the 50 fib on the weekly TF at 1.7050 . Last week we closed as a bullish engulfing which could lead to bullish interest but we havent closed above any declining MA on the weekly yet, currently testing the EMA as resistance. On the daily TF we are now breaking out the...
Since we broke the previous support mentioned at 1.3080, we've been heading lower and lower breaking easily through the monthly support of 1.3000 and closing below. Also May has her negative effect on this pair making it easy for pound to head lower and close with a bearish marubozu candle on the 4H TF. Currently there's a lotta room left to the downside with our...
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NZDUSD is a pair I’d like to put my focus on from now on cause I adore the way it respects price action. On the daily TF we’ve rejected the previous daily high 0.6940 with a somewhat tweezer tops and on the last day of last week we closed with a strong bearish engulfing + theres a little wick on the downside so it’s also somewhere between a shooting star and...