So I was back-testing a new system, and on this one single pair alone, things are looking up. What are your thoughts on it?
Key:
Arrows = Entries
Note/Marker = Exits/Trade Information
Over the previous night and through the morning here in the US, the EUR/CAD has given 4 amazing trade entries on the 15-minute timeframe. Just thought I should share this and show y'all some great 2-Bar Reversal entry examples!
As you can see on the chart, there appears to be an inverse head and shoulders pattern that has formed. It has now been followed by two bars mirroring each other to the point that I would think it to be a reversal to turn into a down trend. I'm definitely gonna sit this one out, but what do you think? False inverse head and shoulders or a false two bar reversal?...
After the recent ascending triangle reversal back in October and November of 2018, the CAD/CHF has decided to give us another! It is currently appearing to break the bottom, so I'd definitely be on the lookout for many entry opportunities!
If you're curious about my previous Ascending Triangle analysis, check down below :)
I am still a rather new trader, so any...
This chart is a bit old, but I never got to share it at the time. An ascending triangle started forming at the beginning of October and finally broke out near the beginning of November (2018). Being a daily chart, it did take a lot of patience to wait for a break, but as you can see, the reward for waiting has accumulated to nearly 300 pips! I'm still a rather new...
After the recent ascending triangle break (visible on the daily) that caused a daily trend reversal, the CAD/CHF is getting closer to a potentially massive movement. When the pennant will be broken is hard to speculate, but know that within a year, many good trade opportunities will start appearing!
If the top line is broken while at this daily support (white line) and juts out of the weekly support (purple zone), it's a possible long trade toward the daily resistance (white zone). Just an idea, I'm rather new to this still and would love some incite!
A potential reversal may happen if the neckline/50 EMA/trend line (orange) is broken. The neckline is in an odd spot though, at the bottom of a Monthly Resistance area (pink zone) as well as headed toward a pretty respected Daily Resistance (white line), as it has 6 major rejections since May. I'm rather new and still learning to trade, so if you've got any tips...
While bouncing back and forth the daily (white) and weekly (purple) support/resistance areas, the GBP can't decide what to do on multiple pairs causing many EMAs to go flat!
