AUDCAD Has been moving Between Support, Resistance and Consolidation Zones this past week. Giving nice legs to the up and down side. We are currently at a strong Resistance level, could we finally see it being broken, or will it hold and give another move down? Have a look at the link, as Philip Explains it.
Technical Analysis: -Price broke below the MA pretty aggressively -Now retesting the purple zone which was previous support -Confluence between the zone and MA Emotions: -Saw price reacting to this level a little late, price wicked the kill zone to a T but now I may have missed the entry already. Not rushing into this trade, set my limits just in case price...
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...
GBPAUD May give us a great sell opportunity if the price break the Head and shoulder neck line. for who don't know what is the Head and shoulder Pattern it is > One of the most popular Chart Pattern. This pattern appears on all times frames and can therefore you can use it if you are a swing trader or a Daily trader. Formation of the pattern 1. Up trend 2. It...
mixed bag of emotions
Martin Long and Short Zones Martin Support and Resistance Martin Trend Meter Martin Stochast Trend Martin Momentum Lines Martin Drop Coming Martin Rise Coming setup: 1. add martin trend bars, add martin S/R, add martin L/S zones to chart 2. set martin S/R to 1 or 2 sensitivity (recommend 1) rules for opening a trade: -open if zone color is in...
Hi traders. Whenever you are looking at a technical level, always ask yourself the following: - Am I buying at a potential bargain/wholesale/discount price? (supply or demand zones) - Why is there more likely to be more supply/demand orders at that area? (new traders entering/traders taking profit) - What are the underlying fundamental/sentiment drivers that...
This is a 9 minute video that covers how to ensure you are trading on the right side of the trend. Lots of good stuff on this topic, unfortunately it's impossible to cover everything in the 10 minute limit provided by TradingView for videos, so if you have any questions please feel free to get in touch.
In this screencast I show a different way of tackling the markets. This is about trend-following which is a pretty difficult methodology - but it is the most powerful and potentially rewarding. I show how I made a decision to short. I am not promoting my own methodology. I encourage all new and seasoned traders to explore different methodologies to find what...
Trends are not easy to spot when they're developing. I'm sure I looked at AUDCAD many times across several time frames in last 80 days. Now I'm seeing the trend on 12H better, having missed the boat several times! Jeeez this is so annoying! I suspect that several times I must have thought, "Nah.. it's about to reverse soon. " - and just ignored it very swiftly....
A bit more advanced, fibonacci clusters present, double pitchfork giving us nice EP's, hence potential trades. Looking to see how price moves in this fork, can copy past this on your charts to follow price action. Educational purpose only, use proper risk management if u should trade. Hit me up if your interested in pitchforks, the precision is maaaad.
Many times trader likes to play tight range but inevitably get caught by fake breakouts. What they do not realized is that the range they are trying to trade in is the consolidation phase. Consolidation phase in general is MEANT TO whipped out weak holders before the real move happen! This is why traders always get stopped out AND THEN the trade goes in their...
Here I am going to explain how to trade a bat pattern in non-USD currency pairs . let's use AUD/CHF last week for example As you can see in 4H chart, B point and D point are determined by the Fib retracemen of XA t. Expecially for D point, it need to be 88.6% of XA, the price can't go far away from it. This is condition 1. For the bat pattern, the final...
Hello traders! Hope everyone is having a profitable week. I have published my idea few months ago about how the bulls were returning to euraud. After the simple 3 signs that this pair has gave me, I started trading with the trend and went long! Total Profit: $4878.83 Trading Diary: goo.gl/WOi6yU Please like and comment for more of my educational...
I believe that trading success relies heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. A consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be continuation or reversal. It requires attention and care....
I think one of the most important things a technical trader like myself can keep in mind, is that at the end of the day it is not SR levels, moving averages or Fib replacements that make the market move, it is people. I can guarantee there were many traders comfortably sitting on their bear position who got absolutely destroyed due to this news that dropped....
Bearish Wolfe Wave warned the investor that there would be a 20% drop from days before.