ForexCollege

ForexCollege

The SA40 index shows a similar pattern to the USDZAR currency pair. This pattern is called a Symmetrical triangle, which usually means there's uncertainty. With national elections scheduled for 29 May 24', it seems traders and investors are being cautious. They're waiting to see how the elections might affect South Africa's economy. I'll provide more updates as we...

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Alright, picture this: the price is grooving within what I like to call the "lower price hesitation zone" (yeah, it's got a bit of a funky ring to it, doesn't it?). Check out those uptrend lines racing from a definite low point. It's like watching dancers on a hot streak, moving to the rhythm of the market. Now, here's where it gets spicy: I'm tuning into the...

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Hey, fellow trader! So, dig this funky chart vibe we got going on here. You see that tentative head and shoulder pattern starting to wiggle its way into the mix? Could it be hinting at a bearish drop? Who knows, man, but we're here to ride the waves regardless! Now, as traders, we're all about keeping our cool and considering every possible move the price might...

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On the daily we have a triangle pattern after a double bottom. Currently expecting a bullish breakout, will have to monitor candlestick body at the close of the session to see if we have strong bullish momentum. False breakouts are a reality and as traders we have to trade accordingly. Now, you may be wondering… why go through all the trouble of figuring out if...

ForexCollege Updated 

Price action Support and Resistance Speedlines are highly effective when draw correctly. You can see from the chart how the price keep obeying the speedline, and how candlestick reversal bouncing from a line gives a reliable signal, and how candlestick momentum increase before line break give a signal that the line breakout might happen. Add to the setup Fibonacci...

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Natgas, with my speedlines contracting I anticipate a slowdown in bearish momentum. Will wait for more price sessions and price to intersect either resistance or support lines before taking any trading decision.

ForexCollege

In trade analysis using pure price action, when a potential head and shoulders pattern doesn't confirm, watch out for the alternative: the triangle between the head and right shoulder. Always weigh all potential price movements and trade the setup with the best odds. Note: This analysis is on a very long timeframe—the weekly chart.

ForexCollege Updated 

I use pure price action to plot my speedlines and NOT the Fibonacci fan or the more common speed resistance line approach in investing. Get web link from profile to learn more about price action speedlines. Bullish reversal pattern right below the weekly speedline, might be a good indication that the sell-off is done and buyers are getting back in. Use lower...

ForexCollege Updated 

The price recently broke upward from a downtrending channel. However, considering the strong bearish momentum on a higher timeframe, my current bias leans towards a bearish outlook. To assess the strength of the channel breakout, I've applied Fibonacci retracement, with particular attention on the 0.618 retracement level. Any potential shift in my bias will be...

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Price currently in a possible accumulation phase. It seems like we have a common low on this instrument. Do the Bulls have the strength to break the accumulation phase and beat the down sloping trendline? we will look at lower timeframes to take a microscopic view and read momentum using pure price action. Change in polarity is when support change to resistance...

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The price is currently trading sideways within an uptrend. We can see a bullish momentum slowdown around the resistance area. This can mean two things, the bulls are taking a breather before pushing higher, or bullish momentum is drying up fast and we might see a break of the uptrend line. I will look at lower timeframe to get a microscopic view, but will remain...

ForexCollege Updated 

Here we can see the price consolidating on the weekly chart, trading near a resistance with bullish momentum increasing, and forming a triangle. If the price break the resistance I anticipate a move higher as indicated with the up arrow. As I consider all possible moves the price can make I have a bearish move as my alternative and the probability that the price...

ForexCollege Updated 

Possible bullish head and shoulder pattern on this low timeframe, higher timeframes bullish signals. BH&S pattern average violation of neckline is around 70% distance of pattern, if breakout- up after 70% anticipate no pullback to test breakout line. Lower timeframes like 15m and 5 min will be used to gauge bullish/bearish momentum around neckline. Always...

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We might have an accumulation phase here. Euro zone is heading into winter and we might see more bulls joining Natgas.

ForexCollege Updated 

Close as the end of this day might give us a clue of where and how we gonna trade this this instrument. As trader we love trading on either pullback or breakouts, and in this case we can see a minor resistance just above the now price. If bullish momentum keep increasing (1) I might consider going long above resistance (2) wait for the breakout above resistance,...

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Here price action is showing a higher low and creating an Inverse Head & Shoulder pattern. The down trendline is plotted on the H4 timeframe and still indicates a downtrend. However, we can see that there is enough room for the iH&S pattern target projection to be reached. The up trendline connecting the head and right shoulder creates a triangle pattern so I will...

ForexCollege Updated 

Tentative head and shoulder pattern emerging, we have downside support that might stop bearish movement. As I always anticipate what the price can possibly do, I have plotted a downtrend line with a bullish anticipation indicated. Read the candlestick story teller when the price trade near or intersect any of the lines (support or resistance).

ForexCollege Updated 

Here we have a tentative head and shoulder price pattern. Tentative for me is a pattern still in the making and not yet confirmed. However with every head and shoulder pattern comes a triangle pattern between the head and right shoulder. Head and Shoulder = Reversal Pattern, Triangle = Continuation or Reversal as a triangle shows us a indecision lower highs/...