I've singled out prior balance areas using Auction Market Theory, obviously they're not exact. I threw up a fib to give me an idea for a new balance area to develop. I'll wait until it's developed but i'll look for short positions as long as it's below #12 prior bal area low. If it hits invalidation area i'll wait until a more defined trend/area develops before...
Good Morning Traders! Weekly downtrend in GBPAUD looks strong for go SHORT in long-term if break out occurs in the yellow sopport level. But expected rebounce in the red resistance level can make us to go LONG for awhile for few pips in short-term and may it break out still blue resistance level. Action Price will show us the way to take. Pd: feedback is...
I will watching this pair over the weekend when we see a break of that trend line we will wait for a retest and that will be a opportunity to join this ride
On daily chart: NZDUSD is currently in a long term uptrend and price is above 200 SMA so should be looking for long trades. Price has pulled back and has found support on a convergence of 200SMA and 50SMA so should be looking to buy on the bounce if support holds . Price is also at lower Bollinger Band so price expected to rise. Stochastic RSI currently in...
The 127.2 extension of the ABA leg is rather far from the 78.6 retracement of the XA leg. Decided to short 2 half positions at those points. Any thoughts on this method? Have seen variations for the ROE of a Gartley, some requiring confluence while others do not!
HD closes with a second bullish retest gap in 2 days closing at minor resistance level from mid OCT and NOV of '15. The fact it follows a morning star reversal adds to the bullish sentiment of the past few days. However, the most recent candle closes on the SMA 200 which could prove to be a resistance point as well. If next candle breaks out of the SMA 200...