On the EURCAD chart we can see an ascending triangle. As shown I'm going in with a very early entry. At the moment we have a slightly oversold RSI (29) and a support that looks like it's doing its job for the fourth time. I will keep a stoploss slightly under the support but with still enough room for false breakouts. Hope this will workout like my last ascending...
On the UK100 1hr chart we can see a double top. I must say that this trade is for educational purposes since I don't spot this pattern that much. The RSI, Volume and Price is lower at the second top which means the interest is cooling down. The stop is placed at the last high or if you trade safe a little above. To get better at spotting this patterns I'm...
I've been looking at this wedge last week and thought it would take longer to break so waited before posting. Now it looks like it's already making an attempt to break the resistance of the wedge. Trading it directly as shown on the chart. Good risk reward ratio and tight stop in case of a false breakout. Looks very bullish at the lower timeframe so this is a good...
On the 1hour chart I'm looking at a rising wedge that gives us a short opportunity. When zooming out a bit it's a very clear picture of a longer downtrend that conforms a short fits in. To trade this I'm going to enter as shown with a great RR of 3.58 (yes, including premature entering instead of breakout). I've chosen for this approach because I probably won't...
As seen on the 4hr chart we can see a rising wedge being formed, the support is valid but not yet confirmed. The bigger picture on the right is a rising wedge on the daily. This one is confirmed multiple times. There is a chance the bigger wedge is ready to break after this one but that will be in a new analysis later on. First things first: As said, we want some...
This time I'm going to try a range trade. We see a good horizontal channel that holds on pretty well. In combination with a RSI that has been higher at the top and is descending now we can try a short like seen on the chart. This trade will need a couple days I guess but it has a Risk Reward of 3.27. Thanks for reading and I will keep updating this. Wesley
The chart shows us the possibility that the USD hit the temporary low against the Canadian Dollar. I've drawn a bullish wedge that I expect to continue for a little while before it's time to break the resistance. Thanks for reading and I will keep updating this.
We can see a clear wedge formed on the 2hr chart. The upper resistance line I have drawn is a line that will be instant visible on the daily chart, still figuring out how to post two different time frames next to each other to show this resistance. Back to the wedge we see that it closes in nearby that 'daily' resistance, I'm convinced this will end up as the...
There is a possibility that the nice gains on USOIL as predicted in my previous USOIL analysis is coming to a trend reversal with this bearish wedge? The support of the wedge has three conformation points at the moment, the resistance only three. Would like some more conformation that it follows this wedge, if it does I'm going in for a short trade as shown on the...
If this pattern follows through we can go for a short position when the wedge is conformed a little more. Will update if it is time for a position to take. Thanks for reading!
Not great in spotting H&S yet. We did have some bullish sentiment in the market and now formed this, that seems to fit in the plan of a H&S. The shoulders are not higher than the head (the difference is not that great) but the neckline fits in quite well. When the markets open tomorrow I expect to get an answer on the Idea Title. Thanks for reading and please...
After quite a drop we're now seeing a ascending triangle formed. Since I find the 'textbook" ascending triangles not very clear (some say it is a continuation pattern, some say reversal) To start learning more about this pattern I'm going to publish it here so I can find it back later on. Give me some feedback about what you think this pattern would do after the...
The bigger picture on EURUSD shows us that the possibility is there that we have reached the bottom. The horizontal line as drawn has been a support multiple times. This time the RSI is even lower than the previous times, except the time it broke the support. The difference between now and the time it broke the support is that we already have a bullish daily...
We see some good jumps on the chart, is it possible that it is time for a pullback by this rising wedge? The wedge is closing in so the answer is near, just like the USDCHF trade I'm not trading it yet. Would like some feedback, or a like! Thanks for reading
USOIL seems to be in a falling wedge. This pattern seems to be formed but not ready to break yet, think the black gold will drop a little more before make some gains. Will update later on if this wedge is holding or broke, if it closes in like expected this could be a good trade opportunity. Thanks for reading and I would appreciate some feedback!
The USDCHF chart is showing us a rising wedge closing in, don't think it would take to long to let this wedge breakout. I'm not going to put in targets now, but if it breaks and I'm watching it I will trade it and update this. Maybe if the wedge closes in further I'm going for a try with a tight stop (Not as tight as my previous NZDJPY trade) Thanks for reading!
There is a channel on the GOOGL chart, for learning purposes I'm keeping an eye on this to see if it is worth a long scalp. I'm seeing an RSI at 30, it is low but not convincing. There is also a support that is proven a multiple times. It could be worth the risk, these channels show up a lot so if I can see a way to make some safe profit on these they could be...
Looking at this GBPUSD we can see a symmetrical triangle at the 1hr chart. This is considered a continuation pattern, since we formed this triangle after going up. The odds are we will after the triangle as well. If we continue in this pattern I will look for a good entry to long the GBPUSD. I have drawn a descending line on the RSI, that could be helpful when...