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Dowtheory

GOING SHORT IN NZDUSD BY TRADING STRATEGYBullish Indications 1. Higher Highs and Lows 2. 8 out of 12 years December remains bullish 3. Trend is bullish on 1D TF Bearish Indications 1. Shooting Start at Higher High 2. Broken Trendline 3. Bearish Divergence on 4H and 1D 4. Price is exactly bounced back from the previous rally LH 5. Trend is mature enough Seasonal Data Dec 10 => Green Dec 11 => Red Dec 12 => Green Dec 13 => Green Dec 14 => Red Dec 15 => Green Dec 16 => Red Dec 17 => Green Dec 18 => Red Dec 19 => Green Dec 20 => Green Dec 21 => Green
Short
by hassamsaeed
Going LONG EURJPY By Trading StrategyBullish Indications 1. Higher Highs and Lows 2. Tweezer Bottom and Bullish Engulfing on HL 3. Break 0.5 fib support level 4. Break Upper Resistance Trendline 5. Formation of Bullish Flag 6.12 out of 16 years December remains bullish 7. Trend is not mature enough to make it a reversal Seasonal Data for the Past 15-16 Years Dec-06 => Green Dec-07 => Green Dec-08 => Green Dec-09 => Green Dec-10 => Red Dec-11 => Red Dec-12 => Green Dec-13 => Green Dec-14 => Red Dec-15 => Green Dec-16 => Green Dec-17 => Green Dec-18 => Red Dec-19 => Green Dec-20 => Green Dec-21 => Green
Long
by hassamsaeed
#GBPNZD selling opportunityPrice has been trapped in a rangy market for quite some time, but as it can be seen finally managed to break the consolidation area to the downside which means more downside move can be followed. this kind of formation base on DOW theory area called line formation and by the way they are considered as very important when they break to the one side. As it can be seen we are already in down trend and breakout of the range area from below shows that a trend may potentially resume. But also it should be in mind that the breakout can always turn to be fake signals and also price can still come higher and take out liquidity from above too. But for now and to keep things simple we need to be looking at the nearest resistance area to the price which is a structure point, because it used to provide support for price before and now that price broke this area to the down it could provide resistance. and as you can see price already came back to this area once and rejected from. Now and in the second try if price reject to the downside from this area after a liquidation you can say that this area would hold and selling is an option.
Short
by mohemati
GOING LONG IN NZDUSDI am taking a long position in NZDUSD due to the formation of an inverse head and shoulder pattern as we saw in the chart it also broke the resistance trend line as well as break the neckline so we have confirmation of the pump equal to the length from the head to the neckline The Head and shoulder is a reversal pattern so it can change the trend also from bullish to bearish after retesting the height as we expect it to touch Let's see what happens Entry: 0.63030 SL: 0.62629 TP: 0.63390 Lots: 0.4
Long
by hassamsaeed
GOING LONG IN USDCADI am taking a long position in USDCAD as we saw it recently form a cup and handle pattern which is a continuation pattern. As we saw previously there is a bullish trend before the cup and handle pattern so we expect it to continue after the formation of the pattern. As we have seen how beautifully it is going up the same length from the middle of the cup after the formation of the pattern As we draw Fibonacci support it is taking support of 0.63 which is a golden ratio of retracement If we see Dial Indicator which is telling us there is a huge sale at the moment so we need to purchase the fear & sell the greed Let's see what happens next
Long
by hassamsaeed
GOING SHORT IN NZDUSDAccording to my technical analysis, It is forming an ascending parallel channel by creating a bullish Rally. According to the DOW Theory, it is forming Higher Highs and Higher Lows. When I pick a trade it is already creating a new High and it needs to be retraced back to create a new Higher Low. If we see the previous Higher High then it also creates a Shooting Star on Higher High for a retracement. It again creates a shooting star pattern on Higher High so hopefully, it will retrace back to create the new Higher Low. Let's see what happens next
Short
by hassamsaeed
GOING LONG IN XAUUSDI am taking a long position in the Gold pair because it created a new Higher Low (HL) after Higher High (HH) also according to the fib tool it takes a retracement of 0.236 level. It also makes an AB=CD Harmonic Pattern so hopefully, it will make a new Higher High (HH) by creating a CD Pattern with the same length as AB It also creates an Elliot Wave Cycle as a 0 to 1 Point is formed and from Point 1 to Point 2 it takes a 0.236 retracement now it will pump again to make a new Point which is 3
OANDA:XAUUSDLong
by hassamsaeed