I am looking at trading the DAX today on the 4-hour chart. We have seen nothing but bearish momentum and looking for a bullish setup right now is pretty risky. This is why I have decided to grade this setup ( as it is a counter-trend ) as a ‘C’ Grade setup. Price has touched the bottom of the Bollinger bands and I am waiting for a bullish engulfing candle to show...
I am looking at trading the DAX today on the 4-hour time frame. Yesterday, we saw a major drop from the top of the daily resistance level. Price dropped around 2.5%. As we are still trending upwards and making higher highs and higher lows, we are now looking for an opportunity to go long. I have been testing a new strategy involving Bolinger bands, a fib...
Looking at trading EUR/USD. We are on the 4-Hour Chart. As we can see, the price has been pushing downwards recently. Some would say we have broken out of a 4-hour ascending channel. I'm looking at the support around the 1.01 price point. We can see that this area was flipped from resistance to support and has bounced off of this zone every time we have...
Looking at trading a possible bull flag on AUD/USD today in the 4-hour chart. The bull flag pattern is a simple, easy-to-use strategy. We can see that price had an impulsive move up which formed our flag pole. We had strong bullish volume to accompany this move which confirmed bullish pressure. Currently, we are seeing a pullback between the bottom and top...
Looking at Trading a possible Bull flag pattern on Bitcoin (BTC/USD) today. In the Daily time frame, we are still in that large ascending channel and we have had a nice bounce off of the bottom of the channel suggesting a move higher. In the 4-hour chart, there is a bull flag forming. We have an impulsive move up with four bullish candles taking out previous...
Today is NFP Friday. This means that prices can become extremely volatile today. Trade at your own risk today. Be careful of extreme volatility when the markets open. I am looking at AUD/USD on the 1-hour time frame. We have had a few Order blocks in the past few hours that have all hit nicely. However, I am focusing on the current most recent high as a point of...
Hi Traders, Today we are looking at trading GBP/USD on the 1-hour time frame. We can see that price reached a high of 1.228 and then slowly began its fall bouncing between the bottom and top of this descending channel. We have had two taps on the bottom and four taps on the top. I have put little arrows to show exactly where the price has been touching. I...
Hi everyone, Today I am analyzing Bitcoin. I just want to show you guys how I see these patterns when they present themselves to us on the charts. Looking at the daily time frame, we can see that price has respected that support zone around 19000. Price has indeed bounced off of that price level three times. The first time was the deepest and that was where we...
Hi everyone, Happy first of august 2022. May you all have a successful profitable month. We are on EUR/USD today. Let's start with the daily time frame. Price has been moving steadily downwards bouncing inside of a giant channel. Every time the price has hit the bottom of the channel, it has perfectly bounced off of it and moved towards the top of the channel...
Hi Traders, Today, I am looking at Gold (XAU/USD) We are in the 4-hour time frame. Notice how the rice seems to finally be pushing upwards. We hit the current bottom at 1681 and have since been moving upwards. I have used an ascending trend line to join the current price action as we can see that the price is currently trending higher. Having a look to the...
Hi Traders, Have a look at GBP/USD on the 4-hour and daily chart today. Having a look at the Daily time frame, we can see that price has been respecting this bearish trend line since the 20th of February 2022. We've had 5 taps so far on this giant daily trend line. Currently, it looks like the price is pushing to print its 6th tap. Now, we don’t know whether...
Hi Traders, Have a look at GBP/USD on the 4-hour chart today. We have a head and shoulders pattern playing out. Notice the way I drew the pattern on the charts. We have our left shoulder, head, and then right shoulder. Our neckline is highlighted as an ascending trend line. Please note that neckline zones do not always have to be perfectly horizontal. They...
Hi Traders, As we are noticing a bounce in the forex market and as we are thinking the bulls might be coming back to start doing some damage control, we have to remember to zoom out to see what the real trend is. When in doubt, zoom out. On (EUR/USD), In the daily time frame, the price has been stuck in this descending channel since the end of January. Price...
Hi Traders, I hope you are all doing well today. It is Monday and the start of a brand new week. Let's smash those trades this week! Today I am looking at AUD/USD on the 4-hour time frame. We have an interesting double-bottom pattern playing out. I say interesting because the second bottom of the pattern wicked quite a bit lower than the first peak. Usually,...
Hi Traders, Having a look a the DAX today on the daily and 4 hours. I have highlighted the descending channel that we have been in since mid-June. Descending channels are a great pattern and can usually present a great setup with a high risk to reward as the targets for the channel entries are usually up where the channel began. We can classify this as a channel...
Hi Traders, Happy Wednesday. Today we are looking at GBP/USD. We are on the 4-hour time frame and we can see we have a double top playing out. Notice the two peaks of the double top ( I have placed arrows on each peak ) Notice the divergence of the histogram on the MACD across these two peaks. This indicates that the sellers are coming in hot and taking...
Hi Traders, Happy Tuesday. Today we are looking at AUD/USD Before we get into it, can we all just acknowledge the fact that the Euro and the US Dollar is officially one-to-one. The last time this was seen was in 2002. Twenty years ago. It's quite something to see. We are living in interesting times. The DXY is still rocketing upwards. Other markets are...
Hi Traders, Happy Monday. Today we are looking at GOLD (XAU/USD) We are on the 4-hour time frame. I am noticing that the price is bouncing nicely between two zones of support and resistance. We are also seeing giant wicks on either side indicating that there is indecision in the market. The bulls are trying to come back in but the bears won't let them. This...