I trade these zones depending on how price reacts to them, I always look at the 15 minute if i want to know wether price is behaving like it wants to roll over or roll up, this is the analysis the bankers don't want you to see. Also you can look at these levels on the 15 minute and see how many power scalps you can make just based off of these zones. You can't...
Really just waiting for usdjpy to bust a move, gonna let this one marinate for now. If price retests the above resistance I may sell, if it breaks through, then im bullish and will trade the retest of that zone if price turns it into support.
on audjpy i'm looking for a buy, now you can see price stabbed this support and ran away, it had one solid touch down, and now its coming back for a second touch down after being smacked down by the ceiling I have marked up, 0 emotions on executing once my criteria is met, lets go!
The blue line show where a wick stab marked a sneaky horizontal support/resistance and it was respected on the daily, if price can break above this minor level then i will be looking for a sell when it reaching the zone above, this type of analysis makes trend lines look like a joke. This style of analysis allows for you to make more disciplined decisions because...
Looking for a sell after GJ breaks its current minor support and retests it as resistance, all zones are marked up from the 4hr and 1 hour, you can kill scalps via these zones by trading the bounces, trade at your own risk!
This way of marking up your charts will work on any pair, not just volatile ones, and you will see the opportunities set themselves up for you to enter aggresive scalps when price moves towards major support / resistance, always mark up at leas two horizontal levels of a low and a high where price reacts to horizontal support/resistance
Anyone that has experience in the market knows that pairs like XAU/USD, US30, S&P500 are super respectful to their trend lines, as you can see I made a horizontal line based off of previous price action (Where price reacts to horizontal support/resistance) And I have 1 line for the current trend (up trend) You could have planted a huge lot on that wick dropping...
You see how clean this is? we have a price zone, and one trend line, thats it, trade the bounces off support & Resistance, always mark up a major lower and major high, and you're good to go. Don't over complicate your trades.
I marked up these zones via the daily and 4hour, and it looks so beautiful on the 1hour chart, all those beautiful setups on the 1hour, Damn!
Gold its making it seem like it wants to bleed, but with how news and the coronavirus is affecting the market we may just get a breakout to the upside from this range on the 4hr/daily.
GBPJPY looks like it could possibly retest minor resistance before it tries to retest the previous low to some degree. Keeping an eye out on this setup.
GBPJPY Looks like it will either start trending up in a nice push and retrace phase or will break down and retest that previous low, we will see as the week develops. reactions to these zones is where and when I look for entry.
EURUSD Honestly looks like a mess on the daily chart (Its ranging quite a bit) It seems to be reaching an end to its momentum building, waiting for it to pick a direction before I trade it, could take another week or two before I bother looking for any entries.
Just marking up two zones for S&P500 on the 4hour, As you all know the economy is eating it, but bullish power in the market is recovering pretty fast considering that we're still in quarantine, anyways, price seems to want to push and react to the zone on top, lets wait and see to find an entry.
Not really bias in either direction, just waiting to see how the next candle on the daily reacts to the zone's I have drawn up.
Clear level marked of where I see resistance being hit, then a downtrend will continue or it will break and retest the up trend.
Looking for AUDUSD to retest a lower high to hop in a sell, have two Horizontal (psychological zones) levels, and looking for breakouts.
Looking for GBPUSD To retest this reistance to catch a drop, the first TP is where I identified a Pyschological Zone.