15M TF Swing Failure Trading ExampleIn this idea I show you how I trade swing failure patterns.
This is good for any time frames but lower time frames are preferred.
Very simple idea yet works pretty nicely.
Let me know what you think.
Higherlow
Long white and higher lowIf price doesn't skyrocket to the first relevant structure to the upside, I'm buying according with the notes on the chart.
GBPJPY 4 HOUR LONGPRICE MAKING HIGHER HIGHS AND HIGHER LOWS INDICATING THIS UPTREND IS WELL INTACT. TRENDLINE IS ACTING AS A GOOD SUPPORT SO IF WE GET A PULLBACK INTO THE TRENDLINE/189.000 THEN THAT WILL BE A GOOD LEVEL TO GO LONG. IF PRICE BREAKS RESISTANCE THEN THAT WILL ALSO BE A GOOD CHANCE TO GET LONG/ADD POSITION
Possible short term double topA small trade possibility. Market pretended to breakout here on very weak volume at strong resistance. and will probably retest the last higher low and may go lower.
NZDUSD - Higher Highs - Higher Lows This pair has been on the move up for a couple of days now, making steady progress with higher highs and higher lows.
Projecting this into the future could lead us to the scenario above.
CADJPY - a little retracement before moving further up ?CADJPY has reversed the trend and made a considerable move up all through the day. RSI is overbought now and it is probably exhausted and gasping for breath. We might see a +- 0.382 retracement into previous structure before rallying into the minor support level on the daily chart.
#Gold hard rejection at "Golden Cross"The "Golden Cross" right in the PRZ (resistance zone) pushed Gold lower. The overlap of 61.8 and 161.8 acted as a wall on Gold attempt to cont. bullish move. The recent PA is in line with the overall bearish trend. However, the breach of 1146 hasn't happened yet.
Since Gold made a new high, this Higher Low could show that 1131 was the bottom.
