hey guys,
usdcad is very bearish,
but rsi is oversold already + we are close to a significant support level.
we also have almost completed bull gartley pattern with a completion point perfectly matching with structure.
as soon as the market enters a buying zone, I will be looking for a confirmation to open a trade.
good luck!
As I said before, the bottom is in. I'm pretty sure of it. As you can see on this daily chart we have a perfect Adam and Eve double bottom pattern with confirmation. Does that mean we can't retrace a bit? Of course not and we should to some degree. But anybody still calling for prices below $3K is just ignoring the obvious.
Here is a better explanation with...
On the EURCAD chart we can see an ascending triangle.
As shown I'm going in with a very early entry. At the moment we have a slightly oversold RSI (29) and a support that looks like it's doing its job for the fourth time.
I will keep a stoploss slightly under the support but with still enough room for false breakouts.
Hope this will workout like my last ascending...
I've seen many charts of people eagerly proclaiming that the bottom is in, because an ascending triangle is forming, and that is super bullish!
Well sorry to be the bringer of bad news, but most of the time, and ascending triangle in a bearmarket is a bearish continuation pattern.
And this here shows all the signs of such a pattern:
1. Volume is declining more...
hey guys,
looking at euro dollar pair on a daily we see that the market reached a decent support level.
on a lower timeframe we see a double bottom in a falling channel.
bullish violation of this local channel gives us an opportunity to catch a pullback to higher resistance levels.
just wait and buy the breakout.
good luck!
Just a basic idea, following very similar patterns as RVN, not a buying advice, just a basic and pretty primitive idea, bcuz i'm still learning, so, let's see :)
This little setup caught my eye.
I personally wont trade this pair, as i dont trade exotics...
Thought i would just share if anyone else out there had a bearish view on this pair.
This isnt intended as a signal, just an idea.
Thank you.
According to fundamentals Bitcoin will become the only monetary and currency system.
According to the chart, it will not. Still a great way to become a multimillionaire though.
If you want to know how I calculated retracements, I couldn't really find a mathematical pattern. I only noticed that this time (considering 3100 the bottom) and in the last bear market,...
At the moment, we are seeing on the chart that the pair has fallen below the MA (36), but is still trying to gain a foothold below. Also, the situation is similar to the fact that the pair is now forming an inverted "Head and Shoulders" pattern. At the moment we are at the end of the second shoulder.
Therefore, we advise you to look for points for entering long...
SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1-2 days
Actions on -
A – Activating Event
Market will meet resistance in zone @1.776 - .... and fall to the @1.745. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 1.745
FX:GBPCAD...
