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Forexeducation

Simple profitable trading strategy!!I am posting this chart in order to show you how easily you can take profit of the market if you keep the analysis simple. You don' t need many indicators that could make you confused. In other words KEEP YOUR CHARTS CLEAN. Then you would be able to understand in depth what you cant see in a messy chart. As you can see, first we have a strong bearish move. So then we expect a retracement that is placed exactly at 0.38. Now i want to show you the importance of 1.2 fibo extension. In my opinion it is the most important level. It is clear that the price is always lookng for that level before having a retracement. When the price is above MA50 we expect it to reach 1.2 fibo extension that could be your target level as well. DON'T FOERGET. KEEP YOUR CHART CLEAN. Thank you for your time!!
Education
by kostas24
GBPCHF (Stall Neutral)GBPCHF has reached critical resistance in our view. Current price structure suggests upward move that began on the 16th of March 2017 may have amounted to a protracted correction and may be in the process of topping out. Our main bias is now to the downside and we look for any daily price close and penetration below zone bounded by red and black upward sloping trendlines for short entries till around 1.19118 over most likely, some weeks. Further penetration of 1.19118 should bring 1.11995 area into sharp focus also over a few weeks. On the other hand, any daily price close above 1.31927 is expected to bring a protracted 1.41615 into sharp focus on the upside also over some weeks.
by magbrr
GBPUSD (Long) TradeGBPUSD is proving equity is currently flowing into UK against major currency pair as this pair is tracing out a bullish structure. Current price action is well below key resistance zone of 1.31899/1.32922 and may have been overbought. Our view is that there is strong case for price retracement going into the week. However significant retracement is expected to be contained at 1.26612/1.26376/1.25788/1.25552 cluster support zone. Further penetration of said confluence support should bring further downside to 1.23551/1.22962 support zone. Nevertheless, it is our view that retracement should be contained by black upward sloping trend line shown and after which a bullish engulfing candle, morning star, hammer, shooting star or three soldiers candle pattern should be trigger for long entry till key resistance target of 1.31899/1.32922 area.
Long
by magbrr
AUDNZD (Long)Generally speaking it appears equity seems to be flowing into the Aussie crosses against minor pairs as AUDNZD traces out a bullish bias. However current price at 1.08999 is near critical resistance zone of 1.9307/1.9738 and hence further upside movement may experience some disappointment in this pair going into the week. Nevertheless, we expect price to eventually penetrate and close above the 1.9307/1.9738 cluster resistance zone at which point 1.13617/1.3905 cluster resistance zone should be target trade over some weeks. On the downside, decisive price close below first upward orange sloping trend line will most likely cause price to seek second upward sloping trend line shown as support target.
Long
by magbrr
AUDJPY (Long) TradeFurther to the earlier view that the AUDJPY pair was neutral, we have now adopted a bullish bias for the pair. AUDJPY pair appears to have traced out a bullish structure with current price action having acted like a bounce off 81.696/81.386 critical support zone. Next move appears to be shaping up for what looks like final wave 5 of a possible initial impulse. Target is actually 38.2% (87.265) expansion of the move from 72.399 to 87.330 @ 81.590 first. Daily close above that level should target 61.8% (90.772) expansion level and further close above that level should see 100% (96.447) expansion level.
Long
by magbrr
USDJPY trade idea (Long)USDJPY appears to be in what can only be said to be a rather complex corrective pattern in the bigger picture. However it does present some substantial trading opportunities. Current price is viewed as preparation for a bounce towards 115 area first. Close above there will target the 120 area as next realistic resistance. However we expect to see some price consolidation at current levels going into the week. Positive daily close back above black support turned resistance line will signal resumption of movement toward the 115 area first as perceived.
Long
by magbrr
EURGBP short term weekly viewFurther to our earlier view that EURGBP is bullish in the long term, we have adopted a near term view of the pair. Our view is that this pair has most likely adopted a bearish pattern, at least for the coming weeks, and our near term outlook is now bearish. Overall price structure seems to have traced out what looks like a truncated fifth wave upwards as shown with current price action downwards tracing out what looks like wave 5 of an initial corrective move down. Key support areas to watch are now 0.83039 and 0.81699 respectively. In the long term our bullish view of the pair still holds provided 0.78044/0.77371 cluster support zone is not taken out.
Short
by magbrr