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GBPUSD have bottomed?Has GBPUSD bottomed? Price action suggest that it has. Since GBPUSD dropped to $1.036, higher lows pattern have formed WITH contracting pattern (tightening). From that pattern I drew a trendline. Price broke the key moving averages confluenced with the trendline break. Currently price is retracing back to its mean 50/100/200 after testing several times the $1.163 level. Actionable plan : wait for the price to test the key moving averages (keep it simple) and identify a rejection at those level and then Long. *Rejection could be anything. but preferably confluenced with pocket pivot (blue bar or green bar at volume indicator)
Long
by sufiansaid
Important week for EURUSD This week, we have FED Interest Rates. This is the most important event for the market right now! We're probably going to see big fluctuations in price and the best opportunities will be after the news on Wednesday. One option is to wait for EURUSD to go near 1,0090 and see if there will be a rejection during the news. If price action confirms the entry, then that will be a great setup. We're not sure if price will rise and reach that level so we don't recommend looking to buy immediately!
by ForexTrendline
5
Important news for EURUSD Today we have ECB Interest Rates decision. We should see them going up by 0.75%. No matter what will be the bank's decision, we're going to see big moves on EURUSD. We could see more bullish pressure on EURUSD, but we have to keep in mind that FED is also coming out with their decision soon. That means, whatever upside move we see today, it could reverse pretty soon. That's why, we think the best decision today would be to wait for the news and look for entries after that. Also, price reaching higher levels will only give us a better sell opportunities.
by ForexTrendline
4
Trading RSI Divergences LIKE A BOSS (I may have failed you)Get your copy of the Free Heiken Ashi Algo Oscillator I'm not going to lie. There is WAYYY too much technical stuff to type up in this for you guys. its best if you watch the video. Always Always Always ask questions below. I am always more than happy to show you what's what. This is some UPPER LEVEL STUFF in this video and i know a lot of you won't fully understand it but i want you to understand what it is that you DON'T KNOW about. Unless you know these things, you won't know what questions to ask about. So here we go. Let's get into it. Trading the RSI Divergence like a BOSS After the RSI Divergence is found: On the chart: (KEYS) 1 = last HH 2 = current HH 3 = 1st HH Closing Price 4 = Confirmation of candle closing BELOW 1HH close price 5 = Find your targets 6 = Pinpoint any target with multiple confirmations Steps to take: 1. See last Highest High 2. Draw a line across the last Highest High close price. 3. Confirm second HH is higher price but lower RSI value. Now wait.... 4. Wait for candle to close below price of step (2) 5. Enter SHORT if (Heiken Ashi Candle is closing RED) 6. Your 50ema is Take Profile #1 (Set it up) 7. Your swing high is your stop loss 8. What does the RSI Formula tell you? Is it in the positive? So what! Use the same numbers but trade SHORT. Yep, that what i said, TRADE IT IN REVERSE! This is Take Profit #2 9. Do the Fibonacci trick to confirm which is closer (tp 1 or tp2) 10. Look left for the most recent area of Liquidity. It's a candle with a long wick up or down where price reverses sharply. 11. Scan the Algo for a price level WITH volume. You have found your target. Adjust your take profit and walk away.
Education
by CoffeeshopCrypto
81
EURUSD continues to rise In the beginning of the week, we talked about price reaching its current levels of 0,9950 and then sell. However, yesterday we had an impulse move up and right now we won't be looking for short positions yet. After such a move, we are actually expecting a continuation higher. Tomorrow we have ECB Interest Rates which is expected to cause more big moves. In case of a continuation higher, we are looking at 1,0090 next! This will be the next level where we will look to sell!
by ForexTrendline
3