#ideastream
Sideways Trading In Gold - Trade War Tension Escalates I'm placing my sell limit near $1,271 with a stop near $1,274 and open take profit to capture 50/60 pips. On the other hand, my buying limit is $1,261. Good luck!
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BTC still in raising wedge and a possibility to test 7.8 or beyoBTC still in raising wedge and a possibility to test 7.8 or beyond.
BTCSUD ideas stream...rollercoaster of loveSo...this is a placce where I'll be posting some ideas on BTC. What I see...sometimes what I think will happen...but mostly this is a place for LEARNING. I'm new. I'm a noob. But beside the prospect of making $$$ this whole trading thing, this analysis and market reading has really captured my imagination. What a tool it is to be able to read market sentiment based on some pretty lines and beautiful colours! Sometimes....we can even predict where sentiment is heading and how that relates to price action.
I toyed with the idea of doing this privately (many of you will think I should have)...but why not make it an open forum. if you are a noob too...join in. Lets teach each other something. Maybe you are an OG and you wan to school us? That is also very welcome.
I have for sometime now thought, for no other reason than it looks to me to be pre-parabolic madness, that we would pull back into a trend line from around April to Sept 2017. My fib retracement is setup from Sept low to all time high and my pitch fork is setup from Sept low to 6k low and 11.7k candle in Feb (the chart is on weekly). That line is now on shaky ground. I believe my fib setup works. There has been alot of action around the 62 and the 38 (or I should say in between). However my pitchfork is now being tested.
Am I prepared to call up or down? No. Funny times right now. Lots of jumping up and down in price. Lots of manipulation from shorts trying to clear out longs and vice versa. There is a real game of cat and mouse being played out and the players are far more talented than I. For my money (which is what it is) we wait and see.
Reversal AUDCHF UpdateAnother update on this trade idea.
We are following these rules of this strategy:
Step One : Find the currency pair that is showing a high the last 50 candlesticks . (OR low depending on the trade)
Step Two: When we find 50 candle low, it needs to be coupled with RSI reading around 20 or lower. (If it’s a high it needs to be coupled with the RSI reading 80 or higher.)
Step Three: Wait for a second price (low candle) to close after the first one that we already identified.
Step Four: Wait for the price to head in the direction of the trade and wait for a candle to close above the first candle that you identified that was previous 50 candle low.
Step Five: Place Stop Loss-This strategy follows a 1 risk to 3 reward ratio entry/exit points.
Price action continues to the downside so we continue to move our entry order. When it breaks, it may be a strong reversal to the upside at 0.7360. Keep an eye one this pair today.
Potential LONGS USD/JPYPrice has consolidated above monthly support at 112.00 with the weekly chart showing a strong hammer candlestick pattern signaling a reversal is soon due. Along with daily showing us a morning star pattern and bullish engulfing patterns, with a break above the daily trend line shown we are potentially looking at at 117.000 being the target as key weekly and monthly resistance. I am not a huge fan of indicators at all but we also see a clear upswing in the RSI and has potential to go further following a confirmation in price. Threw a Fibo at the end of this analysis ;)
