OANDA:AUDCHF
Possible Confirmations:
1. Formed a Symmetrical triangle which is a good signal for trend continuation.
2. 50 and 200MA just crossed over
Entry Timing:
1. Wait for breakout at the resistance.
2. Entry should be placed at the lower time frame.
3. Wait patiently for bullish confirmation bias on the lower time frame.
4. A bulling engulfing candle is a...
OANDA:EURCAD
This pair could potentially go to the upside. Here are my confirmations:
1. It created a new higher high.
2. It retraces at .618 fibonacci level.
3. It retraces at the strong support horizontal line
4. Created a bullish engulfing candle.
Further more, if you span it on a wider picture, it is actually a descending wedge on the weekly TF which is a...
OANDA:AUDUSD
Yes, it is following the trend but we have 3 possible scenarios in this pair.
1. It's gonna touch the higher resistance that would end up forming an ascending channel which is GOOD IF YOU DID RISK IN BUYING.
2. It's just gonna touch the lower resistance line, ending up in forming ascending wedge which is a great sign for possible reversal.
3. It's...
OANDA:AUDCHF
2 possible scenarios are about to happen in this pair.
1. Its gonna bounce in the support and take advantage of the short-term trade (Trend Following).
2. Its gonna break the support level and take advantage of a potential 1:6 risk and reward ratio (most likely to happen because of the strong momentum).
Whatever scenario's gonna happen, it is...
OANDA:GBPUSD
Will this create a head and shoulder pattern? We don't know and no one knows if it will because no one can predict the market. But this is something to look forward to and ribbon this pair in your watchlist. :)
OANDA:AUDNZD
The price has already reached the resistance line for the 3rd time. To those who were late for this opportunity, what I can advice is "Never chase this trade", because the price is already far from the resistance line.
So here is the best way to enter this potential trade - wait for it to break the daily support line (Yellow Line). For better...
OANDA:AUDCAD
Several phases of correction has already been showed. 2 consecutive ascending channels which is a possible sign for reversal. Aside from the pattern, the price has already reached the 3rd time at the strong resistance line (Blue line). Much better if you can draw the trend line by yourself on the weekly TF.
In case this prediction is right, we can...
OANDA:GBPNZD
This might give us a long term UP TREND continuation - based on the current setup. The overall direction of the price if we based it on the monthly TF is going down, but it may still take some time to reach the monthly resistance line, therefore giving us the possibility to take advantage and profit on BUY positions (Weekly and Daily TF is giving us...
OANDA:EURJPY
This is a little bit risky since the price action formation it self is forming descending channel on the DAILY TF and another descending channel on the lower TF (H4, H1). In short, it is forming a "Channel within the channel" so it has the possibility to reverse. But on the other hand, it might give us a good risk and reward ratio and 1% of the...
[ OANDA:EURCAD
A possible selling opportunity if the price touches the 3rd time at the resistance like. If the price reaches at the resistance level, much better if we only trade this if an engulfing candle forms for high winning probability.
By the way, I seldom use indicators because it is much easier to analyze charts if it is LESS "Complicated". Purely...
