GBPJPY longed from the pullback trendline Combo
after our initial entry at the QML level , we have bearish engulfing price action on the daily time frame which confirm our sell bias , im expecting more sell to the LOW of the structure which will serve as our TARGET
my view on this pair remain the same as we are in wave 4 , if this is expanding flat then we will have a push up to 0.6620 and price will go down more below 0.6384 to complete wave C of the structure but as for now im still in for the sell unless the previous high is broken to confirmed the expanding flat .
I'm synchronizing this to my babypips lessons gotta start somewhere #gang trying to get this "hands on" training. So I learned about fibonacci retracements and I'm placing a sell limit order: assuming that the overall downtrend continues, as seen in the 4 hour chart for USDJPY, if the retracement rallies above the 23.6 % level my order (position=sell) initiates. I...
EUR/USD Exchange Rate Once you start getting used to the signs of breakouts, you’ll be able to spot good potential trades fairly quickly. Breakouts are significant because they indicate a change in the supply and demand of the currency pair you are trading. This change in sentiment can cause extensive moves that provide excellent opportunities for you to grab some...
Based on the Babypips course: www.babypips.com Hidden bullish divergence example
Study notes on the Babypips course. Based on this article: www.babypips.com Chart example: USD/ Swiss Franc The Falling Wedge is a reversal/continuation signal, much like the Rising Wedge. In this case: - During an uptrend, this means momentum is cooling off a bit, but the price will continue to rise later. - Can be formed at the bottom of a downtrend,...
Study notes based on Babypips course: www.babypips.com Momentum Indicators aka Lagging Indicators - More accurate in representing changes in trend - However, lags behind the trend shift, reducing profit margins - Less prone to false signals / fakeouts so less risky Delayed entry but higher accuracy. They can still provide some fakeouts especially when price...
I am currently studying the brilliant Babypips.com materials on Technical Analysis. I'm capturing my study notes on live chart examples. These are notes from: www.babypips.com Takeaways: - Oscillators are great at giving signal for trend changes - But they often get ahead of the game and assume *every* fluctuation in momentum is a trend change - Oscillators...