TrainingTrader

TrainingTrader

USD/CAD has developed a head and shoulders formation which signal a reversal of the currency pair. However the recent price momentum is too strong for any short positions to be taken as any retracement in price is supported by the support region of the head and shoulders formation. The ideal short entry can be taken when price trades sideways (in the lower...

TrainingTrader

The United States Dollar Index experienced some wild swings this week. As mentioned in our previous post, if price were to push past the 110.885 resistance region, we will likely see the Dollar push towards 111.665 which was what happened last week. Price continued to push on towards the descending trend line but was met with strong selling pressure and...

TrainingTrader

The S&P500 broke out of the ascending trend line and fell back to within the range between 3550 and 3750. The recent lower time frame sideways price movement trades between the 0.5 and 0.61 of the Fibonacci Retracement of the upward movement. A deeper retracement can push price towards the 0.38 which is further supported by the minor support region at 3660....

TrainingTrader

We are half way through a potential double bottom pattern but price is currently trading in a range between 1648 and 1669. A breakout of the 1648 support region could potentially push price towards recent low at 1622 while a breakout of the 1669 resistance region could potentially push price towards 1709 or even towards the neckline at 1740 region.

TrainingTrader

The bearish movement of the United States Dollar Index was extended last week and was poised for a reversal. Supported by the 110.0 level key support region, the Dollar retraced some of its loss but was unable to push higher from the minor resistance at 110.885 region. If price managed to push pass 110.885, we are likely to see the Dollar push towards 111.665...

TrainingTrader

Looking at the previous price confirmation, when price met the 50 exponential moving average (EMA) and formed at least a piercing line candlestick pattern, price moves towards the upside If the October candlestick of the S&P500 were to close at least 50% of the previous month candlestick, we are likely to see a reversal movement of the equities market. We are...

TrainingTrader

We are awaiting for confirmation for the following scenario: 1. Price retraces to support zone (trend line and horizontal support) before reversing back up 2. If horizontal trend line and horizontal support does not hold, we could see more bearish movement in the short term. 3. Break of the resistance area, wait for retest confirmation to enter long to the next...

TrainingTrader

Price is now sideway from the recent surge in price. Scenario 1: Reversal from confluence of ascending trendline & horizontal support Scenario 2: Break of the recent high resistance area, await for retest confirmation before going long Scenario 3: Price retraces to retest the previous resistance turned support (10500 area) and long after retest confirmation

TrainingTrader

Price is consolidating at resistance turned support area. Look for breakout of trend line and enter long position upon retest. For short position, look for confirmation at the support zone

TrainingTrader Updated 

Pair has signs of short term reversal. If price breaks the current minor support we can see more downside towards the support zone of the horizontal support & lower ascending trend line. Price could potentially face more downwards pressure so it is important to wait for clear reversal pattern before going long. Short opportunity when both the support zone is...

TrainingTrader

From the chart, we can see that price has been on the rising channel for a couple of weeks and now we are at the upper trend line of the channel again. Not forgetting that we are now at the major resistance level back in 2010s. Although the channel is based off from the smaller time frame, I think it crucial or us to remain patient and observe these few days...

TrainingTrader

Resistance turned support zone. Take profit at the next key resistance level as indicated. Stop loss below the ascending trend line - which falls back below the support region making it bearish. Requirements: Await for retest confirmation before entering long. (Risk to Reward ratio will be lesser as compared to the chart)

TrainingTrader Updated 

breaking out of consolidation cup pattern resistance turned support retest

TrainingTrader

Price is now respecting the descending trendline as portrayed. Price has retraces towards a minor resistance line previously support. We can look to short when we have a bearish candlestick pattern. However I am also expecting the price to retraces towards the upper resistance level before heading it down. Stop loss plan: As highlighted in the yellow box...

TrainingTrader

Last week I have posted an analysis to look out for GBPJPY reversal signs and the last trading week we had it. You can look to long now however the value point i see it now towards the trendline (expecting some retracement). If you are planning to long when market reopens, remember to set ur SL below the trendline!

TrainingTrader

key area as highlighted. if price manage to stay above. we are more likely to see the price heading downwards. as of now. price has already rejected the key area once. SO LOOK OUT

TrainingTrader

Trade reason 50EMA @ 30 mins Retest of previous trend line resistance turned support Waiting for: Neckline of inverse head and shoulders to break which will be in line with 50EMA @ 1hr. TRADE TO LOOK OUT FOR

TrainingTrader

ALL TIME HIGH WAS AT A PROFIT TAKING LEVEL - FIBONACCI EXTENSIONS 1.61 50EMA ON MONTHLY HAS BEEN RESPECTED WILL NOW BE A POINT OF VALUE TO GO LONG. NEVER EVER TRY TO CATCH THE FALLING KNIFE