Well, strong up trend has been continuing for some time met with some overbuying resulting some downtrend lately. This weeks inverted hammer candle shows a bullish reversal along with the 1.480 level of resistance shows bullish jumps with past price analysis shown with the green rectangle. Price has touched the 20 EMA (red) line and is just below the 50 EMA too (blue)
Support and resistance self explanatory, price way above EMA's majorly overbought also so time for price to stablise and consolidate back to normal
FX:AUDUSD is showing overbought on the Stoch and the Bollinger Bands, and has touched the daily and weekly supply levels twice. Good reward:risk ratios. 2:1 for TP1 and 4:1 trade for TP2. Happy Trading
FX:GER30 Short the dax when it reaches the 10250 Highs, profiting on the back on the support level when it drops down again. Only a matter of time when it corrects itself. The stochastic shows alot of choppiness so this bullish wave will come to an end soon.
I believe to have found a H&S pattern on the daily chart in UsdCad I am selling below the neckline - SL at 1.36, target of the H&S is around 1.2550 UsdCad put in new lows on Friday, after the data releases (and bad number on earnings) Also Crude Oil is on the way up again - next target 38-40 The combination of these two will probably bring Usd down more the...
GBP JPY long 200pips TP / 100 pips SL
Eur/Usd BUY LIMIT 1.0760 , SL 1.0625 , TP 1.1100
I had a request from a friend to analyze USD/TRY: On daily perspective I saw a nice classical Elliot Wave with double zigzag till point E correction waves. Before starting the analyze I want you to eliminate the harmonic pattern that I draw there; First we start with trends and the potential of opening trade. PA (Price Action) creates trend and trends give us...
Patterns can be failed very unexpectedly. Patient is the key of success. Open your trad on a strong trend. Later I will explain about how to adjust SL and TP. I will also explain how to get reversal signal and have more confidence on your decision. It's all about Risk to Rewards. Get yourself mentally ready and deal for long term instead of amateurish...