I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade. After several days of volatility from the Crude oil, the OPEC (along with US Crude Oil Stock/Inventory decline) has helped the Crude Oil prices to recover. However, looking at the...
I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade. For the past days, I've been obsessed with Canadian Dollar pairs. If this Forex pair does break the graphed line, it may possibly dip to the 1.42500 area.
As this pair has closed with a bearish candle, this pair is still on consolidation mode just right at the monthly's inverse Head & Shoulders. Despite the bullish stance the Japanese Yen is delivering to the market in addition to the bearish stance Crude Oil is giving, the Loonie-Yen pair is still able to maintain its consolidation mode. Whatever path it takes,...
As shown on the graph representation, the CADJPY monthly time frame has formed an inverse H&S... and it is currently hovering at the neckline of the monthly inverse H&S! It's gonna be tough... but it's going to be interesting! I currently have long CADJPY as seen on my previous analysis.
Formed an inverse H&S at the 4-Hour chart. Possibly have already 'retested' it.
After the huge decline of the Euro and Loonie Forex pair, it has formed a consolidation on lower time frames showing that it may continue its decline later on with the formation of a descending triangle.
As seen on the graph represented for you, the 2-hr ascending trend line has still been intact. Whenever it has broken a consolidation, it has allowed to push higher... then back to consolidation before any push higher. Due to the recent events of the Bank Of Canada wherein it has applied a rate hike after years of keeping the rates intact, the Canadian Dollar has...
For several weeks, the Euro has been outperforming several Forex pairs including the US Dollar, and we were able to take advantage of the rallies and the downside corrections with them! For the EURUSD Forex pair, it has broken the weekly resistance but is few pips away from the monthly resistance which may give a clean opportunity to short it or even give a clean...
For several days, the Gold (XAUUSD) commodity has been on a continuous strong attack of bears despite the US Dollar weakness. The bear attacks has lead the commodity to break its daily ascending trend line within a single day. Now the question is whether the price will continue its downside or will the following days show that it is a false breakout? My Take...
This is an update about my trading analysis linked below at the "Link to Related Ideas." This is just a friendly reminder why no one should manually close trades! If I had my emotion taken the best out of me, I would have had closed the trades when I saw it an inch close to my Stop Loss. If I had, I would have had a loss now. Since I did not, I have still both...
If you look at the monthly chart of the NZDCAD Forex pair, you will see that is has been on a uptrend since it's opening. However, you could also clearly see that it cannot penetrate above the levels of the monthly (major) resistance. With the continuous failure to break above, a possible trend reversal (on monthly level) may be taking place -- the bears are...
As what you all have already known, I am a big fan of the Fakey setup as this is a strong signal which follows a strong movement day after. From yesterday's session. the USDCHF Forex pair has formed a fakey bar by easily erasing the losses made during yesterday's Asian session. For those who do not know, Asian sessions are mostly 'fake' movements. I need not...