Completion of Bat Pattern at structural support. Moving averages will catch up precisely at that level. Down trend channel in forming whose lower trend line meets the confluence zone. And off-course, if you are believer of indicators then RSI will go over sold too. Looks good, Isn't It ? =) P.S. Just an idea, actual trade will be published when price reaches...
Last couple of entry (i.e. GbpUsd & AudUsd) failed in-spite of perfect AB=CD pattern completion, which gives lesson on how important money management & trade management is irrespective of what strategy one use in trading. If we can have good control on money management one can easily make living by trading. Anyways, lets come to this pair, EurUsd is at good level,...
Looking for defense from underside of this wall. Stops can be 30-35 pips above the entry.
Shorting this pair with stops @ 1.5300 level & minimum target @ 1.5222 level.
This pair completes perfect AB=CD pattern right at supply zone. Stops @ 0.7180 level & minimum target @ 0.7095 level. Lets go for it.... I mean I will go for it, others need to do their due diligence. Cheers!
Simple methods of S&R trading. 1] Resistance was seen at 1.3410-20 area 2] Price then broke to the upside which turned to be fake breakout 3] Price broke down with increased momentum 4] Retest of this zone will provide resistance in future
Completion of AB=CD move coincides with expanding triangle pattern. Both pattern completion is happening around support zone around 1.4970-1.5000 handle. Minimum target I m looking from this particular move is 220-240 pips at around 1.5240-50 area.
Hey... First of all, let me tell you I m very nervous about all this new blogging project. I never had intentions to become a blogger. But somehow the concept of TradingView.com influence on me is such that I now regularly post my trades for others to see & act if they like it. In an attempt to step up my blogging experience a level higher I thought I would record...
The first two trade ideas were published through chat area since both were taken off from m5 timeframe. This pair is in complete sync with price action. Stops need to above 1.6215, target can be 1.6065 minimum. Hope it too works out as per expectation. P.S. There are lot of objects in the chart, if anyone have any doubt about anything, please feel free to post a...
This pair is currently testing well supported area around 0.7240-50. Luckily we are also witnessing the termination of CD leg from the pattern AB=CD right at the same level. This is simple & typical price action stuff folks. There are two ways to accommodate once stop loss, 1] Close the trade when price closes below support zone with momentum bar. 2] Place stop...
In continuation of my earlier blog on Technical Analysis For Beginners (link attached below), today I want to pen down important detail on indicator, specially MOVING AVERAGE's (MA's) . Many many traders use different type of moving average in their trading strategy which makes it more important indicator compared to other indicators. Many people ask or doubt...
Trying for short attempt here at completion of AB=CD pattern along with RSI divergence. This idea will boost my idea on GbpAud short.
Short features of my previous post is still intact. For details please refer the last post.
Level play FOLKs! Supply started from first down arrow at around @136.50 area, then price was pushed above for short squeeze to trap retail bull traders. Two consecutive down area after the first one was for trapping gullible retail traders, but intention was always to go down. Then the dump happened & profit was taken, but to continue the short ride. Will they...
Looks like it is respecting the zones / channels / ma's very well. Characteristics of PA is very well intact in this instrument. It looks like it has broken the mid pivot to downside, so natural expectation is to price to follow to the end of the channel which also coincides with range mid pivot. Stops would be above the top of the range / ma's / mid pivot of channel.
I m betting on OIL longs for time being since it is above good support block. Also with cross comparison with other markets such as currency, it is safe to believe that its going to go long. Since CAD & AUD is getting stronger in currency market, it is appropriate to trade longs in OIL. Hey but one need to be very careful trading OIL, since this is beast is more...
This idea is inline with my idea of CAD getting stronger as published in my previous UsdCad Idea (link attached).