Noted on 1 M GBPUSD a very large UNDECIDED red Doji that happened this month. I will continue to monitor the hourly charts to confirm what direction the current trend is to trade on smaller time frame trades. PA has not been this low with a last PA of 1.36599 noted on chart, since 01/2009 to 3/2009 on chart. In my opinion keep trading to bearish side, but keep...
Making sense out of this weeks trading is very hard, only EURJPY chart with PA this low before, is 1 M chart. From attached chart this month (June- 2016) has formed a very long red bearish candlestick. Note this very long red candlestick has NO upper shadow or wick & all pressure is market to go lower still. PA & ema 50 will be doing a death cross with ema 200...
Have A great day trading....money management is #1 & PA should be your 1st indicator..
Just like all indicators, most are more successful with TRENDING pairs, not RANGING pa. Here is a system for you might want to consider when trading (I ran across it on UTUBE), that you might want to explore & trade with. I would consider this low risk trading and safer to do related to being a 1 hour trade. *Having less NOISE with PA too. Here it is & it's is...
From EURUSD 15 mns chart & RSI indicator, in my opinion pair will be bullish early next week. EMA 50 still is under PA and RSI indicator has been mostly above 50 (or bullish). PA at this time in a triangle pattern or consolidation time. Until proven slow uptrend is broken to bearish side, will keep on doing buying trades. I would consider doing breakout trades...
The USDJPY 15 min chart, shows you narrow side ways, consolidation or ranging PA, which I personally don't trade. This is type of trading which turns your trading business into a gambling business. Please look at both PA on chart & RSI indicator--- all in a NEUTRAL or no TREND direction. Until it makes a decision on direction, will continue to wait.
Per GBPUSD 15 mn, I would continue with bullish trend up until ema 50 (black line) is broke below by PA. Once PA on 15mn chart breaks below, then bearish trend has begun. Keep in mind for next week (very important) Support and Resistance areas & break outs with trend. Noted: Fibonacci retracement over current GBPUSD 15 mn chart for you. My opinion is 1st day of...
EURJPY 15mn chart- Thursday was a bullish trading day, then Friday was a consolation in PA trading day. Per chart PA has made a FLAG pattern. My opinion, 1st day of trading will be bearish, please refer to Fibonacci Retracement indicator on top of chart. This will show possible Support & Resistance areas for traders to enter and/or exit trades. Noted: Support...
From EURJPY weekly chart, RSI indicator & ema 50/ema 200 cross (black & gold lines) all appears bearish next week. This pair has been bearish for last 4 weeks ( red candles) and will continue in my opinion with a bearish drop. Next major support level on EURJPY weekly chart is around 111.100 (red line), last major support level noted on weekly chart is around...
On USDCAD 1 day chart, a PINBAR bearish reversal three candlestick pattern has just happened with this pair. If you don't understand and/or know what a Pinbar candlestick pattern is (please) read about it. This is one of the most reliable reversal patterns, especially on longer term charts, like this daily one. At this time both ema 50 (black line) and ema 200...
Per EURUSD daily chart, in my opinion chart is making a FLAG pattern at this time. Ema 200 is below PA & ema 50 is traveling thru current PA at this time. Last week the trend was bearish from around 1.14000 to 1.12000, then PA held at support of 1.12000 (above ema 200), last day of trading was bullish. From RSI indicator on bottom of chart, I believe that both...
On USDJPY 1 month chart (NOT) for trading purpose. Just for knowledge, wisdom of the bigger picture of PAIR. When you look at chart where (PURPLE arrow is pointing too) a major shift to BEARISH is going on, with the noted ema 200 & ema 50 doing a cross or Death Cross on chart at this time. Also note on bottom of chart a bearish cycle happened with this USDJPY...
Because of Brexit vote that will be held of June 23,2016- pairs will have high volatility. My opinion is major resistance on 2 hour chart is 1.44000 & major support area noted is 1.40500. PA will be topping out of current BULLISH trend early next week and then start a new BEARISH trend for remainder of week. This is a 2hr chart, so smaller time frames will have...
Wanted to introduce two new tools that you can utilize in your trading. You should use both Fib Speed Resistance Fan & Fib Speed Resistance Arcs together to find major areas of Support & Resistance areas on charts. Like most tools and indicator's they work better (less noise) on higher time frame charts. Where both the Fib speed fan and arcs intersect on chart is...
Per USDCAD 1 W chart, all appears to be bearish this coming week with this pair. With Ichimoku cloud, PA is on lower edge of cloud at this time. HA candlesticks for last two weeks have shown first a red DOJI and a long red candlestick wiht no upper wick/shadow, but with a long body and long lower wick/shadow. These two red HA candlesticks are a very good...
Per GBPUSD 1 W chart this pair has been in a bearish downtrend for last 2 YEARS. Also, noted Major Elliott impulse wave (12345). Pair completed all waves, except last 4-5 wave downwards. This 4-5 wave, in my opinion will break down into its own smaller Elliott impulse wave (12345) for rest of 2016. To left , in February of this year (2016) GBPUSD pair came down...
I use LINE charts to find better TREND lines to draw on charts. From USDJPY 30 M chart, which PA appears to be doing a declining triangle, since 6/3/16. This week, in my opinion will be staying within the orange noted area, but with major trend bearish. Trade with your your eyes and brain. Use HA candlesticks to confirm strength of trends with PA. Wishing All The Best!!
From Pitchfork indicator placed on EURUSD 4 hour chart, appear that PA is in a BEARISH downtrend. Also, early in this coming week PA will continue to middle or center of Pitchfork indicator. Noted on chart are light blue lines, which are both Support and Resistance areas, depending on which side PA is on chart. Wishing best in trading with TREND.