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USDCHF - Rebound after Head Banging on the CLLast week we had ECB decision about int. rat. to zero, what caused the flash down to the A/R line to the tick. Now, the Action is over and the reaction can follow. Price landed in the Buyers Zone again, which was first washed out by the Sine-Wave move down to equilibrium. Then we see the normal "Bubble-Up" (the reaction from priors action) up to the CL, which price reaches over 80% of time. From down here, a new story is starting beeing telled.... P! Free for you: Action/Reaction and Forks
Long
by Tr8dingN3rd
IWM - From Extreme To CenterFrom extremes to center - in any context. 1) Price is at lower extreme of the black, big fork 2) ...runs back to centerline of the black fork 3) and comes back to another center, the small red upsloping forks one. It's just another context. Will it rest there? Dunno...nobody knows. But if you observe, make your one stats and can beleieve in them, then you know what to to, when price reaches a centerline, a upper or lower extreme or just sitting in the middle of nowhere. If you like this natural laws of center and extremes, of action and reaction, then you can find a small very basic course online in here i've made for starters, fro free: mytradingcoach.teachable.com P!
AMEX:IWM
by Tr8dingN3rd
RUT - Turn At Extremes On A DimeUnderstanding where extremes in markets luring, can be very helpful. Most of my trades are with options for credit See where the green circle is - it's where the lower extreme sitting to shoot up price again like a cannon. The opposite is at the CL (Centerline), where the red circle is. This is where the energy is running out. Now we will see price back to the red CL. Again, a equilibrium in a smaller universe. Observe to learn! ...her's a very basic A/R course: mytradingcoach.teachable.com
IShort
by Tr8dingN3rd
1
Bullish Crab - Short - Watch for Fork Break! + Pattern!Currently retracing from .382 fib level, look for price to bounce off the next .382 for trend to continue downwards. Or if it breaks, wait for the price to move to the blue line of the fork, from 2.08158 to the .382 retracement at that level and then continue lower! Overall POSITIVE downtrend! If Head and Shoulders pattern completes, look to take off profit at the .782 retracement level! (Set SL just under the last shoulder peak & Enter just under the LOW of the peak for the best entry point. All the best in your trading! CharlieFX
Short
by proptrading
3
USD - Hell of a range and on the way to the south?P5 is reached...at least it looks like. The tiny lower close is very suspicious... At least price broke out of the "creative" downsloping Fork and reached the CL. From here price either zooms through the CL, or comes down to the L-MLH. Chance for the walk to the south are 80% - same as going to the CL! And why NOW?...well, as i said, price reached the CL. So it's at the center OR it is at a potential extreme. If you think about it for a while - the CL could be the upper extreme...if you threw in a WL (Warning line = 50% projection to the downside)... Think about this... P!
DShort
by Tr8dingN3rd
2
SPX - Similarity...uncertainty...now what?The 2011 pattern looks very similar to the one we have now. Even the priceaction from the Bars look nearly the same to me. Facts for Long - similar pattern as in 2011 - support at the L-MLH is pointing North. - no real LT low is broken! - so far a wide distance from the open to the actual (potential) close Facts for Short - the frequency shift (red slidings) on the top, warn about the temporarily potential Max. High. - if price is reaching the CL and U-MLH (Convergence), ther's a high probability that it is a classic Test/Rtest of the "zoomed" Centerline, and that price is heading south, to the next line - the L-MLH (Lower Medianline Parallel) - if price would continue north, it had to eat through the upper resistance block So, really no cristal clear statement. How could we trade? How about income trades with options, where wo don't even have to know where the market is going? Take credit from below the market AND from above the market? Whereever this market will go, it's time to play it save...but also to capitalize on the opportunities... P!
SP:SPX
by Tr8dingN3rd
GBPUSD Trending Slowly UpI expect this market to either retrace to a lower sliding paralel and then make a nice rally up, or go up right from where it is now. Those new highs didn't make much progres to the upside, so it looks like it wanted to retrace deeper, before it makes any further advancements. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Long
by ForceFollower
13
AUDJPY Done Correcting?This pair seems to be finally done correcting. Has found support at the sliding parallel of a modified Schiff pitchfork. If it holds, we should see a rally up to the 95.75 level, or perhaps even to 96. Otherwise, the correction will continue to reach 94.22 or (less probable) even the lower median line parallel. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial adivice.
Long
by ForceFollower
24
AUDCHF Above the SupportIf this fork is going to hold, I expect the price to get at least to 0.8245. I like the support level below, so any SL orders should be placed below 0.814. The aussie has been performing below its recent 'true potential', became overbought (by my measures), so I expect it to strengthen in coming hours. On the other hand, I find the Swiss franc pretty weak, but with a potential to weaken further, so a rally in this pair seems to be quite justified. However, if the setup fails, we should first expect the support at 0.8152 to hold; and if even this one fails, we'll probably see this market follow the dark red fork, perhaps even down to the lower median line parallel. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial adivice. The presented set-ups are not solicitations of any order to buy or sell.
Long
by ForceFollower
5
AUDUSD Still In the ForkNow it's just a debate: if the current up fork is going to hold or fail, as price has crossed it from its upper parallel to the lower one with ease. This market is in a very-long-term down trend, found resistance above 94 and then even below that level. Now it is about to say, whether it's going to stay within the fork or not. It can either turn into an overshoot and go up again or... continue lower toward some support level. If the fork holds, we should see price go up to at least 0.937, otherwise we'll see, if either 38.2% retracement level or prior lows' support is going to hold. Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. All content posted is for educational purposes only and is not a financial adivice.
Long
by ForceFollower
47