On the EURUSD we are currently bouncing between the two red 4hr supply and demand areas. As we are currently in a downtrend and in neither an oversold or overbought area, we have a short bias. On the 4hr we are moving into a supply area (yellow) which we didn't trade last week due to the entry being triggered pretty late on friday. This luckily gave us a better...
Strong channel downtrend since Aug 2015, with RSI overbought at ideal short entry levels (small green squares). RSI at overbought level again; signal to short in this case with harmonic period of about 6 months. Also current small double top at about $130 mark (short orange); stock expected to close gap to about $118 for initial target short-term target. That...
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Gartley, triangle and resistance (selling) zone confluence to have a really nice short in the following day´s
Bearish Bat Pattern within overall trend of this pair. Trade YOUR plan! Good luck, Felix. Website: www.ogtpartners.com Twitter: goo.gl Facebook: goo.gl
On the monthly chart above i have posted key points in previous years where the pound has taken a dive against the dollar. August 2008, the recession hits, the value of the pound drops from nearly 2.00000 to 1.35300 in 6 months. August 2012, the economy enters a double-dip recession after two consecutive quarters of contraction in the economy. Now, late June 2016...
$GBPTRY is also approaching the long term trendline. The oscillators are at oversold levels. In an uptrend, in combination with the other indicators RSI(14) at 40 levels always provide a good trading opportunity in the direction of the trend. Also, 61.8% retracement is corresponding exactly with the support level of the trendline. If you check the historical...
Morning traders! 1H Chart Have a great setup here with the possibility of multiple long positions. With a current target of (4) breaking back into the wedge confirming (5)'s target, This is a great opportunity for PRO or Ameture traders looking to make a profit. My tolerance for risk is sitting at about 85% upwards if my targets are reached. Note: This setup...
Both PT's hit with 204 pips on the table! Great trades with brilliant ratios.
This is not really a trade setup, it´s more of a little thought sharing on emotions, the biggest enemy for us traders. As you people that follow me knows i trade harmonics an insanely simple and very profitable way of trading, removes all subjectivity from trading with some testable, verifiable, and repeatable rules. I could not trade in January because i was...
Taking a recent swing low and swing high, the risk reward tool can measure potential profit to risk when stopped out and give the reward to risk ratio. Moving the mouse over the shaded area, here we see we can potentially make 375% while risking only 32.14% or in other words the ratio is 11.67, which is excellent. Any time one can use this tool to find a trade...