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Falcon

NZDUSD: Wait, Wait, WaitContext Notice that I used the word "indication", and not indicator. By using solely structures and forecasts to keep ahead of the market, these are especially important. Flags. Channels. Wedges. In this scenario, it can be seen that there is a strong impulse from the upside after creating the second touch, and coming down for the third touch on the bottom of the structure. However, we know not of the market movement, whether or not will it rise or fall. And so, waiting for an indication such as a bull flag or descending channel would be the wisest action to take. General Consensus Wait for an indication. Sell if there's a bear flag, buy if there is a descending channel. Steps To Take Wait out the impulse Wait for a bear flag or descending channel Sell the pair
Short
by cwphuah
1
USDCHF: Analyse From Different PerspectivesContext Analysing from the perspective of both the buyer and the seller is of paramount importance. By analysing from both perspectives, you would be able to weigh both charts and come to a stronger conclusion instead of looking at it from neutral eyes. Below are examples of the USDCHF charts whose structures are drawn from the sentiment of a seller. Weekly chart of USDCHF. Hourly chart of USDCHF. It can be seen here that there is a clear bear flag right after the market breaks out of the structure. The difference between the above images and the current chart is that they are both analysed from two different perspectives. In the previous chart where the consensus was to sell, I drew structures where it was in favour of the seller, without considering the eyes of the buyer. However, after clearing all of my drawing tools, I redrew the structures and found that a position to sell would be of better odds. However, in this scenario, the probability of the market moving to the downside still exists. I merely drew two different charts and compared them side by side, using structures. I made the call after comparing them with a peer. General Consensus Prepare to buy. Redraw your structures from time to time. Steps To Take Prepare for a bull flag or signs of the market going down Buy
Long
by cwphuah
EURUSD: Running ChannelContext It has occurred to me over the past few weeks that EURUSD has always been in a position to buy, probably due to external influences and invalid correlation. My market sentiment has since changed after redrawing the structures of this pair. This is the weekly chart of EURUSD as of February 9. General Consensus Wait. The impulse is still ongoing, and it would not be a good move to enter the market right now. Steps To Take Wait for the impulse wave to end Look out for a correction phase or bear flag Wait for an entry
Short
by cwphuah
USDCHF Short PossibilityOn the weekly on the USDCHF we are in a corrective ascending structure. On the daily TF within this channel we have also formed another ascending channel, which we have just seen a retracement off the the third impulse or push. On the 4hr this third push is represented as a flag and it will be the breakout of this flag that will determine if there is a possible entry of the short trade. If price breaks out of the daily ascending channel to the upside and creates a continuation of the previous bullish momentum it will be invalided. If price is to push lower then there is also the opportunity for it to impulse even lower and break the daily ascending channel.
Short
by ANDYG90
Deep-Diving On Specific Currency PairsEvery Forex trader has a number of currency pairs that they follow. Some may follow a small number of pairs but with depth, while others may just skim through multiple pairs and take trades at first glance. This article is to speak about the idea of focusing, observing, studying, learning about a few selected pairs. Focusing On A Single Pair Choosing a single pair to focus on in the beginning may seem boring, but it will give you the insight that you need over the long term. Focusing on more pairs will get you distracted and make it harder for you to grasp the current situation. By really understanding what really drives the market, you would be able to forecast with greater accuracy and understanding. Sure, by watching more currency pairs you may be able to look for more opportunities, but opportunities which are subtle and require experience to spot will brush past you. Keep watching and capitalising opportunities on the current pair for two weeks or so. Here's how to make that possible: Choose a pair that you feel the most comfortable with Take notes on how the pair moves Determine the forces that dictate impulses or correction phases Understand how the pair moves at the top or bottom of the structure Understand how the pair moves at the middle of the structure Trade the pair for about 2 weeks or so What's next? Once you feel ready, you may feel like adding more pairs into your watchlist. You could start by adding 2 more and watching how it moves. Adding 2 More Pairs Choosing another 2 more currency pair may be a tad bit difficult, as it would require you to divert your attention. Choose 2 of your most readable pairs and add them to your Top 3. Trading them right off that bat may be too overwhelming, so watching them for a week is enough. The philosophy here is to get you accustomed to switching between pairs while still retaining the information of other pairs. Here's how to make that possible: Choose 2 pairs that you feel most comfortable with Take notes on how the pair moves Determine the forces that dictate impulses or correction phases Understand how the pairs move at the top or bottom of the structures Understand how the pairs move at the middle of the structures Forecast the pairs, but do not trade them just yet Conclusion There isn't a definite framework or method for how many currency pairs you should watch. This is just a way that I have concocted to better ease the adding of new pairs. Do you agree with this idea? If you do give me a like, if you have other thoughts, positive or negative, leave it in the comments below, and if you love it, share it.
Education
by cwphuah
USDCHF: Position to buyThe market can be seen moving to the downside. However, before moving to the downside, it may very well correctively or impulsively move up to create the third touch of the structure, which may create a running channel by forming a head and shoulders pattern or a breakout, which will move to the upside. It can be seen from the bigger picture that the market is likely to move to the upside. Steps To Take Wait for the market to create the third touch or breakout Be ready for an impulse to the upside Wait for a correction phase before acting on the market.
by cwphuah
1
USDCHF: Potential Head and Shoulders FormationMarket seems to have created the third touch after after an impulse downwards, followed by a correction phase, and a vicious reversal to the top of the structure. What can be seen here is a potential head and shoulders pattern forming. In the 1 hour chart, an evening star could be seen formed, which ticks off another box for the market to impulse downwards. In the daily chart, it looks more likely that the market could just be going through a correction phase before actually impulsing upwards as part of the correction phase. Steps To Take Wait for a bear flag to present an opportunity to buy Wait for the formation of the head and shoulders pattern Be prepared for a reversal if an opportunity to sell appears
Short
by cwphuah
Long or Short? What could come of GBPAUD On the Weekly chart here we see an ascending channel where price movement has not quite yet touched the support line. On the 1HR chart, we see another ascending channel which seems to have been broken through to push price lower. This is where I originally had though of placing my buy order in hopes of catching the movement back up to the 1.97400's. But now that I am reviewing the set up again I am thinking to myself, what if price breaks through and goes south? Of course we can look at the smaller time frames to get an idea of when it will break it if it does and if its legit or a false breakout. I'm interested in what you guys think about where this pair might go! Also one more thing, I think it's important to take into account the enormous pinball candlestick that took place at the beginning of the year. Do you guys think this could indicate the fall is sooner than later? Maybe I won't be able to ride bull wave after all.
by JuanAlexander95
Great PullBack Buy OpportunityWe saw a great pullback buy opportunity today in the NZDUSD market! This was a great scale in for those of you who entered the original trade on 6/10. This is also a great trade if you are just entering the market for the first time. The way I see this, you can profit from this twice. You could have placed your buy limit at 0.65622 which would have been placed at around 1:30 pm EST. With a 10 Pip Stop Loss, you could place a short term buy with a 41 Pip Target. All this action is happening on the 15 Min chart BTW. Scaling out to the 4HR chart, you can see the long term appeal to this trade and how you can still bank in some nice cash even from entering the market now. Placing a buy limit now at 0.65801, you'll be entering the market and have the opportunity to rack up 100 Pips TP with a 25 Pip SL for a 3.89 R:R. Of course before placing any order, we must wait and read the market. There is yet another wedge in the Daily chart so more opportunity to make money on this trade is coming. More pullbacks will present themselves and you should be ready to enter the market either to scale in on the larger trades or to place short term trades.
Long
by JuanAlexander95
Bullish on AUDCHFHello, everybody, I hope you have all had a great day today. I'm just getting home from my restaurant job and reviewing/managing some trades I'm currently in. AUDCHF is one of those trades. I've gotten better at catching myself when I'm about to place a trade for FOMO but sometimes I still fall victim. I entered the market at 0.68565 originally with a 395 pip Target and 40 Pip Stop Loss (SL). I'm currently in the red for this trade, but I just placed another buy stop order at 0.68465. But I'm not too worried...yet. There is always the possibility that the market will do something completely different from what I was able to analyze. As of now on the 4HR chart, we see that the market has broken through the Daily descending wedge resistance level (This is where I immediately placed my FOMO trade instead of waiting for the predictable pullback) and seems to have finished its correction period. The 15Min and the 1HR chart both show price action has bounced off the what is now the highly likely new support for this market. I placed my buy stop order on the 4HR chart at the tip of the last 2 large candlesticks. I would love any feedback on this analysis if anyone has any advice or guidance leave a comment for me!
Long
by JuanAlexander95
2