EURAUD - Technical Analysis [Short Setup]🔹 EURAUD Analysis on 30M chart
- The current Trend is BEARISH
- There is no Bullish divergences
- Using trendline to take trade on HL
🔹 Trade Plan
- Entry Level = 1.64757
- Stop Loss = 1.11500
- TP1 = 1.64385
- TP2 = 1.64191
🔹 Risk Management
- First TP is 1:1
- Second TP is 1:2
🔹 How to Take Trade?
- Only risk 2% of your portfolio
- Take 1% risk entry with 1:1 RR
- Take 1% risk entry with 1:2 RR
Like and subscribe to never miss a new idea! ✌🏼
Trendlinetrading
One-Line Practice: Set Yourself Aside and FollowIn this video, I set up a trading plan and introduce a trend line exercise you can practice in any market and in any time frame. There is no one right way to draw a trend line, it's a matter of function and what you are trying to see. We will be drawing a trend line off two relative (same size swings). This will identify the footprints of organized volatility on a chart.
This exercise is designed so that you can learn about markets and price flow in your own hand. Its objectives are:
1. Learn to isolate relative market structures.
2. Learn to set yourself aside and follow price no matter what price is doing.
3. Allow the practice and price flow to teach you.
We first need to make some objective swing definitions:
Confirmed Swing High/Low: A new high confirms a swing low and a new low confirms a swing high.
Balanced/Relative Swing: Same size reaction legs.
One Line Practice Instructions:
1. Identify two confirmed relative (same size reaction legs) swings.
2. Anchor a trend line at the two lows and make observations (not expectations) about how price interacts with the line.
3. Always follow the last two relative confirmed swings with the trend line.
4. Draw a box across the top of each swing and observe how price interacts with the boxes.
By identifying two same sized swings that confirmed new highs, we have found some organized volatility and behavior. We can then participate in that continued behavior or have a way to know when it changes.
Shane
Riding the Waves: Mastering Trendline Trading in Forex and Gold
Riding the Waves: Mastering Trendline Trading in Forex and Gold 📈✨
✅Trading with trendlines is a fundamental technique in the world of forex and gold trading. Trendlines help traders identify the direction of the market and potential entry and exit points based on the prevailing trend. In this comprehensive guide, we will explore the art of trading trendlines in forex and gold, providing actionable examples to illustrate their application.
Please, check this falling trend line on GBPUSD.
First, it was a strong resistance.
After a breakout it turned into support
✅ Mastering Trendline Trading:
1. Drawing Trendlines: Traders can draw trendlines by connecting swing highs in a downtrend or swing lows in an uptrend. These lines act as dynamic levels of support and resistance, guiding traders in identifying potential reversal or continuation points.
2. Trendline Breakouts: A breakout above or below a trendline can signal a potential shift in the prevailing trend, offering traders an opportunity to capitalize on emerging market dynamics.
3. Multiple Timeframe Analysis: Combining trendlines across different timeframes can provide a holistic view of the market trend, enabling traders to make more informed trading decisions.
Take a look at this trend line,
it is a strong vertical resistance.
You can sell the market once it approaches that.
✅Examples:
Example 1: Trendline Bounce in Forex
In a currency pair chart, if the price repeatedly bounces off an upward-sloping trendline, it indicates a strong bullish trend. Traders can consider entering long positions when the price retests the trendline and shows signs of continuation.
Example 2: Trendline Breakout in Gold
Suppose the price of gold breaks below a descending trendline that has been acting as resistance. This breakout may signal a potential downtrend, prompting traders to consider short positions or monitor for further confirmation of the new trend direction.
Look at this solid trend line on AUDUSD.
Probabilities will be extremely high that the price will drop from that
Mastering the art of trading trendlines in forex and gold can equip traders with a valuable tool for interpreting market trends and making informed trading decisions. By integrating trendline analysis into your trading approach, you can ride the waves of market dynamics and enhance your trading proficiency. Happy trendline trading! 📉🌟
NIFTY BANK:TRENDLINE BREAKOUTNSE:BANKNIFTY has broken a trendline. Trade can be taken after closing of candle above the trendline. A strict stoploss should be kept and targets for the same are given. The broken trendline is an important trendline as it has been resistance since 3 weeks. There can be a retesting of the trendline levels.
Squeeze in UPST on a technical breakLong channeling wedge with a technical breakout and 38% short float, this might start getting some legs towards that $25 POC from the previous 6 months. Starting to see covering in some of these highly shorted stocks that had fallen dramatically over the last year and a half.
Long UPST since early this morning.
GOING SHORT IN CADCHF BY TRADING STRATEGY #2Bearish Indications
1. Lower Highs and Lows
2. CXY is bearish & SXY is bullish in 2H TF
3. No Divergence
4. Shooting Star at LH
5. Trend line not broken
Bearish Indications
1. Trend is Mature Enough
2. On Larger TF it almost completes Bullish ABCD Pattern
Indices on 2H TF
DXY => Bearish
JXY => Bullish
ZXY => Bullish
AXY => Bullish
EXY => Bullish
CXY => Bearish
SXY => Bullish
BXY => Bullish
FTMUSDTHello Dear friends
On the 4-hour timeframe, we have a negative channelization movement, and on the other hand, the price is currently very compressed and is in a fixed range.
Considering the maintenance of the yellow range ($0.2157), there is a high probability of forming an upward trend similar to the drawn scenario.
We would be happy to hear your comments
several ideas for EG if it continues up from therethese are only valid if it continues up from that direction. me personally I'm only interested in the 61 and 76 fibs as there's more than just on confluence in that area which is the Trend line retest. so I'd be looking to take that. but it's only medium risk the others are high risk so i recommend risking less 0.5% or less on the white zones and 0.5% or more for the purple zones.
trade safe
EURUSDStrickly based off of technical analysis here.
Price did hit and touch the daily support zone for a double bottom.
Price came back up to the trend line resistance area.
I would look for a reaction off the trendline and confirm a move downward.
1 Hour chart showing resistance to that area.
15 Minute chart showing that selling pressure. If price can fully break that 50ema and trendline, that should be confirmation to go short to the 1.04900 area.
How to Draw Legitimate TrendlinesHey Guys!
Just wanted to post a quick lesson on "How to Draw Legitimate Trendlines".
In this lesson, I explain the 3 rules that must be applied for a trendline to be legitimate.
1.) Trendline's attachment points must be on the wicks of a candle. Not the body of a candles.
2.) There must be at least 3 contact points on a trendline for it to become legitimate.
3.) There must be no break outs or surpasses of the trendline.
Moreover, I demonstrate these with examples.
That's it! I hope this helped!
Have a great day!
Ken