📖 Forex Top-Down Technical Analysis 🔸Top-down technical analysis is a method used by traders to examine the Forex market starting from higher time frames and gradually zooming into smaller ones. 🔸This approach helps traders get a comprehensive view of the market, starting from the broader trend on long-term charts and then analyzing intermediate and short-term...
GBPUSD is one of the most popular and widely traded trading instruments on the Forex market. Due to its high liquidity and high volatility, it provides opportunities for daily or intraday trading. In this article we will look at GBPUSD and give valuable tips for successful trades. Currency Overview The British pound is the main currency pair representing the...
📚 LEARN MORE 💰 EARN MORE With ForecastCity What is a Range-Bound Market? A range-bound market is one in which price bounces between a specific high price and a low price. The high price acts as a major resistance level in which price can’t seem to breakthrough. Likewise, the low price acts as a major support level in which price can’t seem to...
📚 LEARN MORE 💰 EARN MORE With ForecastCity What is a Range-Bound Market? A range-bound market is one in which price bounces between a specific high price and a low price. The high price acts as a major resistance level in which price can’t seem to breakthrough. Likewise, the low price acts as a major support level in which price can’t seem to...
📚 LEARN MORE 💰 EARN MORE With ForecastCity What is a Range-Bound Market? A range-bound market is one in which price bounces between a specific high price and a low price. The high price acts as a major resistance level in which price can’t seem to breakthrough. Likewise, the low price acts as a major support level in which price can’t seem to...
📚 LEARN MORE 💰 EARN MORE With ForecastCity Descending Triangle Definition: An Descending Triangle is a type of triangle chart pattern that occurs when there is a support level and a slope of lower high . It is defined by two lines: .A horizontal support line running through valleys. .A Downtrend line drawn through the peaks. The lower highs...
GBPJPY SUPPLY AND DEMAND ANALYSIS - High volume, high probability levels. Please see my previous weeks analysis.
hey guys, EURGBP has broken above a key daily structure last week. Here are the key levels from where we will be looking for new trading opportunities. 0.90 - recent resistance that turned to support after a breakout 0.93 - major resistance and 2019's high 0.95 - major resistance and 2020's high just in case of the start of a selling rally here are the key...
6.4.20 Looking at decisions that are discretionary in order to handle the charting on the 6B: British Pond futures ( apologies for spelling errors in advance...I have made a discretionary decision to not spellcheck ). Trading is always going to require discretion ...and this is good if you have some level of understanding. There is really no escape from...
GBPJPY (Update) In Daily Chart, Forming ascending triangle Pattern (Bullish Pattern) At the Moment, Facing Major Resistance (135.40), If Bulls Failed to Clear it, expecting Trendline Retest ( Higher Low) If Resistance got Cleared, Next Stop Would be 144.00 area (Next Major Resistance) Please like the idea for Support & Subscribe for More ideas like this...
---Possible Product Review--- Okay, I have some serious mixed feelings today. I dont typically trade on mondays as today is the shake up of the market from the weekend and people's emotions from the market. So, I thought I would buy Scott Carney's harmonic scanner for trading view. the software was very pricey and i honestly had i very high hopes for the...
(1) The relationship between "macro flows" and "restraint" The former encourages plans from our opponent by enticing them into positions. What does it mean: suffering from the sad case of the last buyer? The concept of static and dynamic weaknesses. When it becomes appropriate to undo our opponents structure? Restraint can be imagined without the...
My thoughts and trading plan for GBPUSD
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...
I Just wondering can We depend on closing the price above the arc to buy ? My opinion is yes if we consider is a confrimation tool , Means I want another tool with him to confirm this trade.
My bread and butter is RSI and MACD divergence, I cannot look at 15 charts or more at the same time so I use alerts with those. But I know to trust my own judgement over what some indicator tells me. In these examples, and I could show countless more, what eyes tell us is what is right, not what the oscillators tell us. Yes, I know, I am comparing 2 different...
When you see a morning star pattern (you can use candle software to find such), usually it marks the start of Elliott wave 1 to 5 sequence, you enter at the end of the first correction wave (retrace into the body of morning star pattern). When wave 2 is completed, we plot Fibonacci retracements from the tail of Morning star and you will see how perfectly price...
Money makes money . It's an age-old saying, probably because it's generally true. But starting out as a retail trader can be daunting and at times, frustrating. It takes time to build up a sizable account big enough to allow us to take the leap from trading part time, to full time trading. Something that has kept me motivated over the years is an excel...