Up until one fathoms particular concepts of a pairs currency maneuvers; the goal of achieving financial liberation in the forex market is downright toilet water! 💩
Do all right for yourself and probe PRICE ACTION with the aim of mastering its constituents unreservedly.
As in the present case
Candlesticks Anatomy
Candlestick patterns
The Market structure
Time...
You must have a keen eye for market structure
Price action
Trends
Supply demand
Support and resistance
Indicators
You need them all as confluence for higher probable setups
Stay connected 🤞
Price reached a premium price before giving bearish signals to enter the market
I used a top down analysis once I found the pattern and trend I entered for the short
I’m expecting it to fall 0.7%
Markups are a thing of art
Not much to be explained to a season trader in this illustration
We have a nice double top pattern with a break of the neckline
On the daily chart we have a close below the shooting star at resistance
TOP DOWN ANALYSIS APPROACH
I really love this play although it maybe premature. I would normally wait for a close below the shooting star but price is certainly at a level of equilibrium. AUDJPY has been selling for 4 days! The trend on the 4h chart is now bearish. This was my top down analysis approach to this pair. The market opens today, hopefully it gaps down and not up lol never the...
I like the resistance this pair has shown and the bearish patterns that follows. I’ve backtested this pair as well and I’m a believer that price respects history
