We can see the market has been in an ascending triangle now it is formed a reverse head and shoulders pattern. Both patterns point to a bullish market on US30.
Now that price is testing the key area of resistance I expect to see short-selling opportunities but I won't look too hard as the overall sentiment of the market appears bullish.
Following the recent formation of a LH and then a break of the most recent HL on the daily TF , there seems to be a shift into from buying market to selling market. I identified a zone which had previously been respected and I want to see price pull back for a retest before show signs of rejection and then continue the downward.
As to how I plan to enter a...
AUDJPY has been a bulls market since the 16th of march on the daily TF but created a new high at the level 94.324 and a new HL at 90.830. After the low was created price then rallied to the upside but is currently in a range. I want to see price break the new high to showings me that the bulls are still in control or a break below the range support and other...
Following my analysis on price action of the GBPNZD pair, the market shows an unyielding presence of bears who wish the push price lower. A look at the weekly chart taking into consideration the previous market swings shows a bearish flag pattern formation and the previous week’s close left an evening star formation behind indicating the presence of bears in the...
NZDCAD might be giving a morning star candle formation. Waiting for the close of the present 4 hour candle before making the decision to enter a long position, or not. TP=0.89373, Risk to reward is about 1:4
waiting to see price retrace to the supply and demand area and we might have a short setup on EURUSD. I'll be waiting for a signal form price action (multiple wick rejections, pin bars, an engulfing candle ). my SL will be a few pips above the area and my TP target will be the next level of demand identified on my chart providing with a RR ratio of 1:3.
I'd really appreciate if you guys interact with the ideas I publish. This is my second month actively trading forex, please let me know what you think of my forecast on the NZDUSD pair.
Since my last published idea on the cable, I still maintain a bearish bias on the GBPUSD pair seeing that price failed to make a higher-high even after hitting my stop-loss on the short position. Well I've had to erase my previous drawings and had my lines drawn again and I believe I saw the market in a different way. On the daily time frame I took note of the...
I took a look at the EURUSD chart in a daily time frame and its presently in a ranging market, seeing that neither buyers or sellers have been able to push it past its support at 1.07841 and its resistance at 1.10028 since its previous downtrend. I believe the market is in an accumulation phase.
After drawing obvious support and resistance areas on a 4hr time...
