Long Shot Aussie/USDLooking at the Weekly chart, we can see the formation of a descending wedge
Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart.
As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern.
It is important to note that although all these patterns are present and we can gain evidence for a winning trade, we must remember the market can still push price lower to 0.67280 before the reversal takes place.
Currencytrading
BTC Bullish and Bearish scenarioAs traders we always must be prepared to go long or short. We can not be biased to one side.
I have clearly defined zones and levels within those zones that I am willing to engage off of.
I do not care which way price goes because I have a clear plan for both scenarios.
In the mean time I do nothing. Do not force the trades, WAIT for price to come to you
and if it doesn't, no big deal. Move on. Patience is the KING.
Possible USD/CHF Short position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 1-4 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @1.011 - .... and fall to the 0.991. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 0.991
FX:USDCHF
Trade Management
Entered @ .....
Stop Loss @ .....
Target 1 @ 0.991
Target 2 @ ....
Risk/Reward @ 7.1
Happy trading :)
Follow your Trading plan, remain disciplined and keep learning !!
Please Follow, Like,Comment & Follow
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Possible AUD/CHF short position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 1-3 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @0.725 - .... and fall to the 0.704. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 0.704
FX:AUDCHF
Trade Management
Entered @ .....
Stop Loss @ .....
Target 1 @ 0.704
Target 2 @ ....
Risk/Reward @ 6.5.1
Happy trading :)
F ollow your Trading plan, remain disciplined and keep learning !!
Please Follow, Like,Comment & Follow
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Possible USD/CAD short position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 1-2 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @1.339 - .... and fall to the 1.33. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 1.33
FX:USDCAD
Trade Management
Entered @ .....
Stop Loss @ .....
Target 1 @ 1.33
Target 2 @ ....
Risk/Reward @ 2.5.1
Happy trading :)
Follow your Trading plan, remain disciplined and keep learning !!
Please Follow, Like,Comment & Follow
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Possible SGD/JPY short position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 1-4 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @82.800 - .... and fall to the 81.200. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 81.200
OANDA:SGDJPY
Trade Management
Entered @ .....
Stop Loss @ .....
Target 1 @ 81.200
Target 2 @ ....
Risk/Reward @ 5.1
Happy trading :)
Follow your Trading plan, remain disciplined and keep learning !!
Please Follow, Like,Comment & Follow
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Possible USD/JPY Short position!! SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 1-4 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @111.966 - .... and fall to the 109.86. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 109.86
FX:USDJPY
Trade Management
Entered @ .....
Stop Loss @ .....
Target 1 @ 109.86
Target 2 @ ....
Risk/Reward @ 5.1
Happy trading :)
Follow your Trading plan, remain disciplined and keep learning !!
Please Follow, Like,Comment & Follow
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Possible EUR/GBP Short Position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe 1-2 Days
Actions on -
A – Activating Event
Market will meet resistance in zone @0.8637 - .... and fall to the 0.854. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 0.854
FX:EURGBP
Trade Management
Entered @ .....
Stop Loss @ .....
Target 1 @ 0.854
Target 2 @ ....
Risk/Reward @ 2.5.1
Happy trading :)
Follow your Trading plan, remain disciplined and keep learning !!
Please Follow, Like,Comment & Follow
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
AUDNZD Break and close to an extensive basic longAUDNZD trade analysis: Price is coming up to the next major resistance area as it was in the last few weeks, resistance hit and failed Jan 22nd, Feb 5th, and Feb 8th.
We can tell from the H1 and H4 that it has a stronger hold for resistance, and it is coming back currently to the same zone at 1.05388, so we can see an extensive push upwards if it breaks the area, we will then see a retest on the break and close of that zone, becoming new support and a high in price in the last 2 1/2 months.