TheSnowballEffect

TheSnowballEffect

Here is why: 1. We can clearly see that price just dumped really fast, and then stopped when it reached this key level of support. 2. We can now see that The strength of the market is going back up indicated by the RSI. AKA: There is RSI divergence from the last 2 previous lows created on the 1H timeframe. 3. Good enough Risk to reward (2.5) putting my stop...

TheSnowballEffect

After waiting for ages because the price keeps ranging, now should be the time that it loses its strength. It looks weaker than ever We also have a slight RSI divergence (Lower highs on the RSI when there were higher high formations on the price action)

TheSnowballEffect

Price is overextended

TheSnowballEffect Updated 

Here is why: 1. Price just made a big rally up and is way overextended on every timeframe. 2. Price has reached a key trendline where it has bounces to the downside before since September 2013! 3. The RSI has reached the indicator strength trendline where it should respect it since this pair likes to form RSI trendlines!

TheSnowballEffect

Big consolidation... could break up or down or get manipulated as hell.

TheSnowballEffect

Price is approaching a resistance zone. When price breaks the RSI indicator trendline, it will be a clear sell!

TheSnowballEffect Updated 

RSI is looking stable even when the price was going down + it reached a very important support level from the higher timeframe

TheSnowballEffect

I think price has no clear direction up or down, so it will be creating a range before deciding what to do next.

TheSnowballEffect

Where will this want to go??

TheSnowballEffect

these are the key levels to watch for manipulation. Price just reached a key level and is consolidating at that area. The market is overall bullish indicated by the 200 Daily EMA. Here is a closer look at that consolidation:

TheSnowballEffect

It has also reached a key level of resistance. The head was a liquidity grab (fakeout) before going down. And here on the 5min timeframe, there is another H&S forming:

08:53

TheSnowballEffect

this is my first video so don't expect to be amazed (yet) xd

TheSnowballEffect Updated 

Big correction after a huge bull run is incoming. We can see a big spike, then a rejection, suggesting a formation of a top from the higher timeframe. setup: Simple break of trendline and restest before going down. I did my analysis on all the AUD pairs and they all look like they are going to tank! so let's make some profits folks!

TheSnowballEffect

Looks like the market is strong again. hmm

TheSnowballEffect Updated 

:)

TheSnowballEffect Updated 

simple stop loss above the last horizontal level. The consolidation (circled in purple) should keep the price down. If it doesn't, then this trade is invalidated.

TheSnowballEffect

Let's see where this goes!

TheSnowballEffect Updated 

we can clearly see the strength of the market keeps going up (RSI) even when the price was going down. I want to see a break of the last consolidation to the upside before entering long here. simple enough