• Triangle pattern explained + measurement method • On the weekly chart, while ago, a triangle formation can be seen • Breakout can be either way • In the above case, the breakout was to the upside, supported by strong fundamentals in favor of the dollar • Traders should wait for a successful breakout before placing any trade • Breakout was confirmed by several...
📚 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...
USDCHF keeps contracting within a classic symmetrical triangle formation. with a sequence of lower highs and higher lows the market is clearly trading in sideways. quite soon its gonna break and the side of the breakout with high accuracy will show as the future direction of the price. in case of a bearish breakout, the next goals for sellers will be 0.96 /...
This is a post for those people who think that absolutely nothing can be predicted and can only move in the trend. The level was seen by everyone and nevertheless, it worked out beautifully, and at a ratio of 1 to 10 trade can be considered excellent. After such a sell you can fly to the ocean and not work next month))). The price can fall even more... Dear...
Daily Supply & Demand Zones - any divergence shaping up? Just assessing key levels. Our indicator on the chart is Mayfair's OBV Divergence, Moving fibs and support/resistance from higher timeframes. Be great to get comments on the coming week's thoughts for this pair. Have a great weekend!
USDCHF is currently trading in a wide trading range between two significant structure levels. The breakout will determine the market future direction. Our plan is to wait for a candle close above/below the structure level, then we can take action accordingly. Target levels: Resistance - 0.99 Support - 0.96
Hello dear Forex friends, I just had this example with Alex from our Slack group, where he had posted the following for the German TradingView: So he clearly bet on the previous S&R zone on the Daily at 110 psychological and being overextended on the Hourly. The problem was though, that our S&R range was not clear, and esp. the 110,5 was even stronger as...
The Swiss franc swooned almost 1 percent at the start of Asian trade Monday as thin liquidity caused by a Japan holiday led to a mini recurrence of the “flash crash” that roiled FX markets early last month. The Swissie slid from 1.0004 per dollar around 7 a.m. in Tokyo to as weak as 1.0096, the lowest since November, within a matter of minutes before almost as...
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...