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Trendcontinuation

Q4 UPDATE - XAUUSD Elliott Wave ForecastEvening all, A quick update on Gold and the fourth wave is still in progress. As mentioned in the linked idea, I'm expecting the corrective sequence to continue into December and print a new quarterly low with the Horizontal support level at 1800-1765 providing some confluence. I will be looking to take swing positions once this low is in as we are likely to get a sideways correctional C wave to a lesser degree before an impulse into the fifth. Will provide further counts and price levels once we're into the final wave of this leg. You're most welcome to follow for further updates. Happy trading, Beyond Edge Disclaimer This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only. Do not trade or speculate based solely on the information provided. Trust your own analysis. Beyond Edge
OANDA:XAUUSD
by BeyondEdge
NaturalGas trend continuation to the upsideTECHNICALS: NaturalGas price will probably form complete three wave correction, after that, i will wait for clear break of trend, with flag over the trendline, only then i will get in, on breakout of flag, to catch next wave, ride trend until it is over. There is also high probability that price will repeat the price action back from 2012, the price action from 2012 is on the chart in purple color. FUNDAMENTALS: USD can still lose value in the long run due the Quantitative Easing, Low Interest Rates. Both of these factors could lead to Inflations of USD. The idea is only my view of market and im not encouraging anyone to take that trade.
NYMEX:NG1!Long
by TradingPeak
1
AUDJPY Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on AUDJPY. Here as you can see, the market broke below the previous lows of 76.11 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 76.29. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 77.82, and my target @ 74.02. Opinion: So far, I'm feeling very confident about this trade as it's currently moving in my favor. But, anything can happen in Forex trading, so we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
1
AUDUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on AUDUSD. Here as you can see, the market broke below the previous lows of .7192 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .7215. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ .7355, and my target @ .7011. Opinion: So far, I'm feeling very confident about this trade as it's currently moving in my favor. But, anything can happen in Forex trading, so we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy t
Short
by Matthew_Spositi
2
EURUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on EURUSD. Here as you can see, the market broke below the previous lows of 1.1737 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.1772. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 1.1881, and my target @ 1.1616. Opinion: So far, I'm not feeling to comfortable about this trade as the market has already broke above and closed above my entry, and is currently looking like it's going to stop me out. But, anything can happen in Forex trading, so we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
GBPCHF Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on GBPCHF. Here as you can see, the market broke above the previous highs of 1.1833 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.1775. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 1.1644, and my target @ 1.1952. Opinion: So far, I'm not really sure how I feel about this trade as it's consolidating around my entry. I also decided to measure my Fib retracement tool from a minor structure level. So, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Long
by Matthew_Spositi
NZDJPY Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on NZDJPY. Here as you can see, the market broke below the previous lows of 69.86 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 70.23. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 71.31, and my target @ 68.67. Opinion: So far, I'm not really sure how I feel about this trade as it's consolidating around my entry. I also decided to measure my Fib retracement tool from a minor structure level. So, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
2
NZDUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on NZDUSD. Here as you can see, the market broke below the previous lows of .6601 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .6688. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ .6807, and my target @ .6516. Opinion: This trade looks like a typical trend continuation pattern to me. In the end, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
USDJPY Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on USDJPY. Here as you can see, the market broke below the previous lows of 105.10 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 105.89. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 107.15, and my target @ 104.04. Opinion: So far, I'm feeling pretty confident about this trade as it's currently moving in my favor. But, a double bottom on the daily chart has occurred, which is a bullish trend reversal signal. So we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
2
USDCAD - Trading towards the Trendline - Pullback EntryHi Traders! Here are the screenshots for the Multiple Timeframe Analysis. If you want to know more about any methode, thought process or anything else, please ask in the comments. The timeframes we analysed are: Weekly Timeframe - Daily Timeframe - 4 Hour Timeframe - 1 Hour Timeframe Weekly Timeframe: Daily Timeframe: H4-Timeframe: H1-Timeframe (Entry): We recommend to trade with a candlestick pattern confirmation. Thanks and successful Trading :)!
Long
by swissmoneymakers
USDJPY - Potential Head & Shoulders Pattern - Trend ContinuationHi Traders! The market is in an overall Downtrend. Alright, let's begin the multiple timeframe analysis with the weekly chart: The main thing we can see here is the descending Triangle. This structure has two main factors: The descending Trendline The weekly Support Now we analyse the price action of the market. You see, the market is reacting less and less to the weekly Support than it did the times before. This is a sign of Bullish Weakness or Weakness of Support. That means that we're looking to short the market. Now, here is the daily: Here you can see another descending Trendline. This is giving some more bearish pressure. And it is in a Downtrend. Moving on to the H4: You can see the market retracing. It is also at a consolidation area. We identified a possible Head & Shoulders Pattern. The target is the weekly Support. Now, let's think about how to enter. The Entry Timeframe H1: As you can see there is a little ascending Trendline there. It could serve as our Entry. So, if the market doesn't make the Left Shoulder, we won't miss the trade: We'll just sell the Trendline Break. The SL is above the Consolidation Area and the TP at Weekly Support. The risk-to-reward ratio is better than 1 to 3 ! We recommend to trade the Retest of the Trendline Break. Thanks and successful Trading :)!
Short
by swissmoneymakers
GBPUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on GBPUSD. Here as you can see, the market broke below the previous lows of 1.2761 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.2881. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 1.3017, and my target @ 1.2697. Opinion: So far, I'm not feeling to confident about this trade as it is currently moving against me. The market has already broken above and closed above my entry. But, anything can happen in Forex trading, so we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
4
GBPJPY Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on GBPJPY. Here as you can see, the market broke below the previous lows of 134.57 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 135.23. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 136.68, and my target @ 133.28. Opinion: So far, I'm not feeling to comfortable about this trade as the market has already broke above and closed above my entry, and is currently looking like it's going to stop me out. But, anything can happen in Forex trading, so we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
1
EURJPY Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on EURJPY. Here as you can see, the market broke below the previous lows of 123.31 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 123.57. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 124.40, and my target @ 122.42. Opinion: So far, I'm not feeling to comfortable about this trade as the market has already broke above and closed above my entry. But, anything can happen in Forex trading, so we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
CADCHF Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on CADCHF. Here as you can see, the market broke above the previous highs of .6925 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .6893. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ .6850, and my target @ .6943. Opinion: So far, I'm not feeling very good about this trade as it has already broke below and closed below my entry, but it did find support around .6860 so it very well may rally from there to hit my target. In the end, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Long
by Matthew_Spositi
AUDCAD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on AUDCAD. Here as you can see, the market broke below the previous lows of .9427 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .9562. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ .9678, and my target @ .9403. Opinion: So far, this trade looks like a typical trend continuation pattern to me. So, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
EURCAD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on EURCAD. Here as you can see, the market broke above the previous highs of 1.5676 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.5616. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 1.5530, and my target @ 1.5734. Opinion: So far, this trade looks like a typical trend continuation pattern to me. Only thing, is that I drew my Fib retracement tool from a minor structure level and I'm not sure whether the market will value that level or not. In the end, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Long
by Matthew_Spositi
1
CADJPY Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my profile/bio for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on CADJPY. Here as you can see, the market broke below the previous lows of 79.04 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 79.23. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 79.86, and my target @ 78.48. Opinion: So far, this trade looks like a typical trend continuation pattern to me. Only thing, is that I drew my Fib retracement tool from a minor structure level and I'm not sure whether the market will value that level or not. In the end, we'll just have to wait and see what happens. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
EURUSD - Trend-Trading in a Consolidation - with mtfaHi Traders! Let's begin the multiple timeframe analysis. We'll start with the Weekly and end with the hourly. The weekly Chart: Here we can see the purple descending Trendline coming all the way down from above. The price just broke the Trendline bullish and even retested it successfully. So, we're looking for an Up-Movement towards the next Resistance. The daily Chart: Here you can see that the market is moving in a consolidation range after a strong Up-Movement. The Fakeout you can see here is actually the Retest of the Trendline. The price is moving between the Levels 1.20 and 1.17. So, we're looking to have a target in between those "extreme" Levels. The H4-Chart: Here you can see that the market is moving in an ascending wedge. The next Resistance and our target is also in between the "extreme" Levels. So, we're looking to enter somewhere inside the wedge. The H1-Chart: Here you can identify a descending Parallel Channel. The Trading Idea is to buy the Break of the blue dotted line with the Parallel Channel. The Target is - as seen before - at the next Resistance and the SL is under the Low. We recommend to wait for a Retest. Thanks and successful Trading :)!
Long
by swissmoneymakers
GBPAUD - Sell Daily Triangle Break - Trend Continuation Hi Traders! The market is in an overall Downtrend. Let's begin the Multiple Timeframe Analysis with the Weekly. ---------- Before we start analysing this pair, here is an important lesson for everyone who's reading that: You probably often heard or read in trading lessons, that you shouldn't draw many things into your charts. But the truth is, that many of them don't even really know why. They just say "so you don't become confused". Why is it so important? It's probably more than you think. "so you don't get confused" - this argument is valid, but not everything You focus on the main thing and you don't get unsure because of tiny barriers If the trade goes negative, you calm down, because you see the reasons you traded If the trade goes positive, you don't get scared, because you know how to exit If you go through your Journal, you instantly understand the reasons why you traded, that can help you identify the Winners and the Losers and its Setups It gives you the skill of keeping everything uncomplicated You can share your charts easily, without explaining :) ---------- Here is the screenshot: Why did we share the information above? Because of that example we give you now. As you can see we only drawed one Trendline into the entire chart. This is enough to get us an idea of the current market situation. The market broke out of the Trendline downwards. Then it retested it and it is continuing further. Conclusion: We're only intrested in taking Sell-Trades. Moving on to the Daily. Here is the screenshot: This is the zoomed up situation of the Breakout. Here we can see the daily Triangle. Moving on to the H4: Nothing new at all. We only established the Target area, which is the tourquise dotted horizontal ray. In addition this is ray the 78.6% Fibonacci Retracement. Lastly, the Entry Timeframe: We here see a Wedge Pattern. We're waiting for the Break of the Daily Triangle and the Retest at the upper Trendline of the Wedge before we enter the market. The SL is a decent distance away from the recent high. The risk-to-reward ratio is better than 1 to 3. We recommend to trade the Breakout with a strong Retest. Thanks and successful Trading :)!
Short
by swissmoneymakers
3