KernLooking bout ready, we took a nice play on this back in Nov/Dec 2020 and looking like its setting up for another nice play. I like that price looks to have broken the down trend and a previous low with a strong bullish engulfing candle. I think as long as price stays above this anchor candle(the bullish engulfing candle) that price will begin to move towards the indicated target areas
Noobtraders
USDCAD just here to flexin' a winning tradeI first saw a priceline that market's been reacting to over and over again. This time, it seemed to act as a support line.
However, when I got in, I was lucky enough to already see that market grabbed liquidity from SL of trades going to against the support.
So, what time was it, guys? It's my time to win some pips of course.
When trying to move my TP, I saw an upper area of liquidity.
Price also reacted to that level several times, and I hoped to see that it happened again, and it did.
There was also a higher TP that I was considering, but after seeing the Area of Liquidity, I closed my trade as soon as price reached that level.
Made literally 69.420 pips on this currency today, guys.
Happy trading!
USDJPY short opportunity...ish?Price conveyed a strong downtrend, then it created a pennant, which is a continuation pattern.
And if you look at a greater picture, you'd see that price created lower lows, and it was far from reaching the previous high.
SL is crucial for this trade. Since it's a pre-market trade, the pips spread can widen at the start of the trading week. USDJPY's spread is currently sitting at 10 pips, which is why I moved my SL 10 pips further than intended.
As for the TP, then I first copied and pasted the vertical line that showed the height of the previous downtrend, matched it with the recent reversal pattern, and there goes my TP.
The lowest low that the price made recently kind of matches my TP zone.
Price hasn't tested any levels near that low yet, I think this is a potential Area of Liquidity.
So the market can be very tempted to reach that level, I'd be fine if it is my TP.
It's nighttime guys, I'll go to bed in just a sec, so bye!
adan and eve , bull flag on btc I will tell something to all bears and fools who expect a 7.4k drop. Do not miss this climb for their ignorant and stupid predictions, only impoverish them more, have the glimpse of rationality at the moment when this breaks upwards of not putting a short that liquidates them. I wish you success and I wish you not to remain in absolute poverty.
