Get started

Performance

AUDUSD Break-out performanceLooking back at the bigger picture of this break-out, there could be two additional targets for the price to go lower. Looking closely, the formation of another rising wedge ( ) over the last two weeks with Stochastic indicating an already overbought condition. Resistance should be around the 0.74950 mark although there is also an advanced pattern completion a bit higher than this, I would not be surprised if price gets to 0.75400-ish before it goes South. Intermediate and Max targets are set using the bigger structure patterns. The longterm trendline acts as resistance (blue dash line) while the pip count goes off the roof. I trust you this should be a longer term trade, quite possible but still to be closely monitored for changes. Let me know what you think about this.
Short
by Telson
1
EURJPY Break-out Performanced (Part II - Continuation)Breaking down the long-term short of EURJPY as described in the " EURJPY going short " idea (see below) as well as the initial break-out performance, we have come to witness a possible continuation in a similar fashion. Note that the long-term trendline forming the top wedge (based at 121.977) is still strong for a new-forming, even-bigger wedge, with the 120.806 price tag being the new base, which is the opening price on BRExit offering first "serious" structure support. The above is also supported by market conditions on Daily charts that show real lack of buying power (seriously overbought) by means of RSI/Stochastic. Conveniently enough :D the above speculation will conclude 1st performance target as described on the " EURJPY Break-out Performance " idea (see below) that was nearly missed at first go. There will be some resistance from EUR, we are in for a bumpy SHORT ride (scalping opportunities?) but, for the time being, I cannot foresee anything that may reverse back to LONG (trend not just a retrace). I would expect a solid retrace (min. 118.000) of that straight bull trend of the past few weeks, over the next few weeks before it shoots back to the stars. Lets wait it out... Since sometimes we all live in our small fantasy bubbles so, all feedback is appreciated.
Short
by Telson
1
EURJPY Break-out PerformanceLooking a few days back, there is a excellent morning star signal that does not quite come through until the news today where the 123.000 level was retested (false break). Looking at the structures performance there is still a bit left to go with open retracement opportunities (scalping short-term buys). Price expected to reach the 120.800-120.750 range where the should be some support for the buyers from older structure (Opening Price on 24/06/2016). Having passed this I do not see any reason not to reach the 120.000 -ish level. Hope you made your pips today.
Short
by Telson
How Often Do You Review Your Trading Performance?The thought of reviewing positions may trigger anxiety for some people; however, reviewing past trading positions is essential to making progress and improving your performance. Reviewing winning and losing positions can give you a more realistic picture of your trading behaviour and can help you evaluate your trading style for areas of strength and areas that may require improvement. The big question is, how often do YOU review your trading performance?
by UnknownUnicorn180388
40