ForexTrends

ForexTrends

Most didn't see the drop coming before and will probably miss the signs the next time around. Anyone that had the foresight would have looked delusional. And then it happened. The move usually only becomes clear after the fact. Unless you learn to recognize the conditions and see what's going on behind price in the background. History repeats. The past predicts...

ForexTrends

A buy reversal pattern is forming on the daily chart. I'm looking for a test of support to get long. Remember, keep your risk low and manage your trades. Plan. Execute. Next. Trade Less. Make More.

ForexTrends

$CL Looking for the wick to be tested back down around 72. 71-70 Also line up with fib extensions and a strong support area on the daily. Remember, keep your risk low and manage your trades. Plan. Execute. Next. Trade Less. Make More.

ForexTrends

The sell-off at the end of last week traded between the 50%-61.8% fib from the 2022 low to 2023 high where buyers stepped in. However, as the market was selling-off on the hard right edge, this view was clouded for most as they couldn't see past the FEAR surrounding the dip. There was a similar buy reversal pattern on the daily as there was on the Feb 2023 dip....

ForexTrends

While the daily is still in a downtrend and until a buy reversal pattern has formed, I will continue looking for rallies to sell around key fibs, S/R, and lower timeframe sell reversal patterns. Remember, keep your risk low and manage your trades. Plan. Execute. Next. Trade Less. Make More.

ForexTrends

Ssshhh!!! 🤫 The Background Crazy price predictions of 100K+ at a previous resistance area. Euphoria, FOMO, and greed were getting together. Even your grandma was buying. Distribution into the highs, new shorts, and profit-taking from the lows into greedy, FOMO buyers, ready and willing to do anything to get their hands on as much BTC as their mitts would hold....

ForexTrends

The consolidation breakout below 21,500 and the shakeout below 20K are finished. This breakout/fakeout wouldn't have been complete if it wasn't conveniently surrounded by a bunch of "news". It's all about what's going on in the background, behind price. Remember, keep your risk low and manage your trades. Plan. Execute. Next. Trade Less. Make More.

ForexTrends

The cable is still trading around the yearly pivot in a consolidation range within the linear regression channel after an impulsive leg one. At some point, it will break out, shooting for the stars (R1) or dropping like a rock (S1). There are cases to be made for both directions. A continuation impulsive leg two takes it back to the top of the LR channel and...

ForexTrends

$GBPUSD sellers stepped in around the anticipated sell zone of 1.2100 - 1.2150 leaving a long wick. I expect it to be tested and give another shot to short. This would further solidify the short-term sell setup. Until it makes a higher high on the daily, I'll keep playing it to the short side. As always, there will continue to be several chances on both sides of...

ForexTrends

$GBPUSD is back at the top end of the channel. Price broke out of consolidation from $1.1940 during the London session and continued to climb for the highs after NFP. Use upbars to scale out of long positions as there will always be new late FOMO buyers ready and willing to buy a high. There is a short-term sell setup up forming around the $1.21 - $1.2150...

ForexTrends Updated 

$BTCUSD entering long on the 4h close on the low and on further testing. Plan. Execute. Next. Trade Less. Make More.

ForexTrends

$CL Next stop $75-$74? After a brief rally in the US session, price rallied to the 38% fib only to sell off again to fill the daily wick on the left. $75-$74 is now within reach. Plan. Execute. Next. Trade Less. Make More.

ForexTrends

Just like my cold dark heart, the markets seek to fill a void created by an imbalance of supply and demand. When there is a sharp move in either direction, an imbalance of buyers and sellers is created. Every trade has an opposing order that, at some point, will be executed either by choice, for profit-taking and risk management, or by force, as a function of...

ForexTrends

$GBPUSD I'm sure it's different this time. TL break. Reverse. TL break. Reverse...?

ForexTrends

$AUDUSD The daily chart is forming a buy reversal pattern around a key support area and testing a previous breakout area. Testing of .6550 and .65 is key. PSA... Lure in more late shorts with FOMO and PLAIN old all-around FEAR. In order to make False Evidence Appear Real, mark price up and down, stall out, and then at the last minute, reverse. Reverse....

ForexTrends

The market was initial bought up leaving a long tail wick. These buyers are now being removed. $76 is the first target with $72-$70 or lower is coming into range on the daily. Plan. Execute. Next. Trade Less. Make More.

ForexTrends Updated 

$CL is approaching the weekly channel top in a monthly downtrend. Watching for distribution into the highs from longs accumulating on the lows. Plan. Execute. Next. Trade Less. Make More.

ForexTrends

$GBPUSD failed to rally higher out of consolidation and returned to the 2023 channel lows. Daily support trendline pierced. Is this a spring/false break? Wide range 4h candle closed on the lows. Looking for testing of support and rejection. Pay attention to how price reacts. Especially, the closer we get to NFP. Efforts vs. Results. Plan. Execute....