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Trendcontinuation

EURAUD 1.61905 -0.2% SHORT IDEAGood Day Everyone Here's a look at the EURAUD pair from the 4H perspective the pair is still trading within the descending channel respecting this channel thus far we saw a continuation of the downtrend on close in the last week looking for continuation of this move on the pair targeting resistance level 1.61044 lets see how it goes... Good luck and happy trading everyone _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING TRADE TARGET - 1.61044 __________________________________________________________________________________________________________________________ If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section. APPRECIATE IT
Short
by PULEMokhothu
AUDUSD 0.69909 +0.33% LONG IDEAGood Day Everyone Here's an idea on the AUDUSD pair, currently the pair is ranging in a pennant formation which could possibly signal continuation with the bulls. so if we see a break above the structure looking for long entries on the pair a break below signals a possible move to the downside possibly a retest of support level 0.69292 ____________________________________________________________________________________________________________________________ Target 1 - 0.70397 Target 2 - 0.71477 ENTRY & SL - FOLLOW YOUR RULES RISK - MANAGEMENT PERIOD - SWING ___________________________________________________________________________________________________________________________ IF you like the idea kindly leave a like, leave your idea in the comment section on the pair any comments welcome.....
Long
by PULEMokhothu
6
BATBTC Trade Setup | Trend Reversal | Hidden Bullish Divergence Today's chart - BATBTC – Consolidating at key support; a successful re-test validates technical targets above. Points to consider: - Trend Reversal - 21 EMA visual guide - Hidden bullish divergence - Stochastics oversold - Low Volume BATBTC testing trend support after a strong bull move into daily resistance, price respecting support level will form a higher low on the chart, indicating a trend reversal and will allow for trend continuation. The 21 EMA will assist as a visual guide, price breaking and trading above the EMA is a confirmation of strong trend continuation. Although trading below 50, the RSI confirms a hidden bullish divergence: price has made a higher low whilst the RSI has made a lower low, indicating a strong market accumulation. This also allows for ample space before the oscillator reaches overbought conditions as price breaks bullish. Stochastics are also overextended, although they may remain there for some time, momentum has been stored to the upside. Volume has been tapering off, indicative of an influx being imminent, likely to coincide with a break in either direction. Overall, in my opinion, BATBTC needs to hold trend support and break above the 21 EMA to validate a conservative entry for a long trade to technical targets above. What are your thoughts? If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
Long
by Kudiiee
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 above the previous highs of 121.09 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 120.44. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 119.70, and my target @ 121.39. So far, this looks like a typical trend continuation pattern. That being said, 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
2
NZDCAD 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 NZDCAD. Here as you can see, the market broke above the previous highs of .8797 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .8738. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ .8676, and my target @ .8808. Clearly we have been in consolidation on this pair since 6/5/20, but have finally looked like we have broken out to the upside. However, whether this is a genuine breakout or simply a false breakout is unclear yet. 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 68.39 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 69.30. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 70.11, and my target @ 68.17. So far, this looks like a typical trend continuation pattern, question is, did I draw from the structure point that the market is going to respect or violate. That being said, 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
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. 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 above the previous highs of 74.30 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 73.58. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 72.54, and my target @ 75.04. So, this could be a two drives complex pullback retracement, or it could be a continuation of the bullish trend that we have been on since 3/18/2020. That being said, 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. 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 above the previous highs of .9409 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .9330. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ .9261, and my target @ .9423. So far, this looks like a typical trend continuation pattern, question is, did I draw from the structure point that the market is going to respect or violate. That being said, 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
EURNZD 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. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on EURNZD. Here as you can see, the market broke above the previous highs of 1.7450 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.7452. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 1.7319, and my target @ 1.7639. So far, this looks like a typical trend continuation pattern, question is, did I draw from the structure point that the market is going to respect or violate. That being said, 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
USDJPY - Bearish Power is going to EXPLODE! - Breakout Trading Hi Traders! The market is in an overall Downtrend. Key Areas: Resistance @ 108.069 Support @ 107.426 Support @ 105.060 Parallel Channel - ascending, completed Triangle "Breakout Triangle" - descending, active Category: - Breakout Trading - Trend Continuation - Price Action Trading - Beyond Technical Analysis Description: As mentioned before, the market is in a Downtrend. You can easily see that when you switch up to the H4-Timeframe or just zoom out. The Parallel Channel was just a Retracement Move. The Price broke out and then moved to the "Breakout Triangle". Pay attention to the location of the Triangle: it is leaning against a former strong Support! The market is making lower lows - the reason why the Triangle is descending. If you combine that, you can think of what that means: > The market is making lower lows --> More bearish Power. > The price is moving near the Support --> Support is getting weaker. > The Bounces are getting weaker --> Fewer and fewer Buyers. --> --> --> Bearish Power is going to explode! We recommend to trade the Retest of the Breakout! Thanks and successful Trading :)!
Short
by swissmoneymakers
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. 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 .9293 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .9356. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ .9418, and my target @ .9278. Unfortunately this trade came to fruition before I could post it, and what makes it particularly disappointing is that its a losing trade. But that's just how trading goes sometimes. 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
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. 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 above the previous highs of 79.48 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 78.82. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ 78.22, and my target @ 79.64. So far, this looks like a typical trend continuation pattern. That being said, 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
AUDUSD - Using MTFA to Combine a Powerful Strategy!Hi Traders! The market is in an Longterm Uptrend (based on mtfa) and in a midterm Raning Market. Key Areas: Falling Wedge (1) - descending, completed Falling Wedge (2) - descending, in action Support Area @ {orange box} Resistance @ 0.69800 Exponential Moving Average (200) - H4 Timeframe, strong supporting Category: - Trend-Continuation - Wedge Pattern - Multiple Timeframe Analysis Description: As you can see the market reached the Resistance at 0.69800 in the beginning. After that it started to fall down in a wedge Pattern (Falling Wedge 1). Then it recovered in the Support Area. It got momentum and with this Price Action it reached the Top Again. After that it falled again in the same Pattern: Wedge Pattern (2). But why should it climb up again a third time? Beside the facts, that the price reached the strong Support Area again and it is in a Wedge Pattern, we have two important factors too. These important Factors can only be identified due the help of MTFA. The Factors are: The overall Uptrend. When you switch to the Daily Timeframe, you can see the Big Uptrend. And the Trend is - well known to be - your friend! It's true. The second important factor is the 200EMA. Here is a screenshot of what we mean: You see, we combined the Daily and the H4 charts, to get the bird's view and combine it to a POWERFUL TRADING IDEA! We recommend to trade the Break on a closed candle, to avoid False Breakouts! Thanks and successful Trading :)!
Long
by swissmoneymakers
1
USDCAD - Swing Trading Idea - Trend ContinuationHi Traders! The market is in a Shortterm Uptrend (50MA) and also in a Longterm Downtrend (200MA). The Key Areas are: Trendline "Daily Trendline" - descending, resisting Trendline "Shortterm Trendline" - ascending, supporting Resistance @ 1.37000 Support @ 1.33000 200 EMA - resisting 50 EMA - supporting Category: - Swing Trade - Weak Trend Continuation - Pullback Description: As you can see the market was moving all the way down until the Support at 1.33000. Then it started to raise and reached the Resistance at 1.37000. It falled again a bit and climbed up again too. Here we have some factors, which is going to press the price lower NOW. The first thing is the overall Downtrend. This could be seen as a weak confirmation, because the market can easily change its direction. But then we also have the Daily Trendline. This is going to consolidate with the price and it's an important factor. In addition we have the 200MA, which is now touching the price. And the market is at the Resistance. We recommend to trade the Breakout of the Shortterm Trendline. Thanks and successful Trading :)!
Short
by swissmoneymakers
USDCHF - Trend Continuation NOW - MTFA, EMA, Stochastic, ...Hi Traders! The market is in a Downtrend. The Key Areas are: Trendline "Past descending Triangle" - descending, resisting Resistance @ 0.95300 Resistance @ 0.94800 Support @ 0.93800 200 Exponential Moving Average - resisting Stochastic Oscillator - overbought Category: - Trend Continuation - Pullback Trading - Retest after Breakout As you can see the Downtrend is also viewable on the H4-Timeframe and the D1-Timeframe too. That's why a short trade is more at the moment more secure than a long trade. In the last past days, the market was moving in a descending Triangle. Then it broke out of the Triangle and the Support at 0.94800. It moved down and finally back up again. This Up-Movement can be reasoned due the strong USD against the weak CHF, as shown in the Currency Strength Meter. Now the market reached the important Resistance again. This could also be interpreted as a potential Retest. The indicators show: - Resistance from the 200MA, it is pushing lower and - Stochastic Osciallator is overbought, should fall soon. We recommend to trade the bearish crossover of the Stochastic Oscillator. Thanks and successful Trading :)!
Short
by swissmoneymakers
GBPNZD 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 GBPNZD. Here as you can see, the market broke below the previous lows of 1.9153 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.9261. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 1.9346, and my target @ 1.9146. So far, this looks like a typical trend continuation pattern, question is, did I draw from the structure point that the market is going to respect or violate. That being said, 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
GBPCAD 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 GBPCAD. Here as you can see, the market broke below the previous lows of 1.6835 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.6860. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 1.6937, and my target @ 1.6766. So far, this looks like a typical trend continuation pattern, question is, did I draw from the structure point that the market is going to respect or violate. That being said, 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
GBPNZD 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 GBPNZD. Here as you can see, the market broke below the previous lows of 1.9152 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.9261. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 1.9347, and my target @ 1.9145. So far, this looks like a typical trend continuation pattern, question is, did I draw from the structure point that the market is going to respect or violate. That being said, 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
GBPNZD 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 GBPNZD. Here as you can see, the market broke below the previous lows of 1.9198 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.9262. Since my entry got hit, I put my stop loss 10 pips above the most recent high @ 1.9341, and my target @ 1.9175. While this trade came to fruition before I could post it, it fortunately was a winning trade, which makes me very happy. 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
3
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. 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 above the previous highs of .6911 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ .6852. Since my entry got hit, I put my stop loss 10 pips below the most recent low @ .6767, and my target @ .6973. So far, this looks like a typical trend continuation pattern. That being said, 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