Hi everyone, this is my idea on USDJPY. USDJPY is currently at a key resistance its either we see a higher high or a rejection from there. The first scenario that can happen is a move downwards to touch the low of ascending channel as a double top might form. The second scenario is where it breaks out of the resistance and touch the top of ascending channel.
Hi everyone, this is my idea on BTCUSD. There are 2 possible outcomes, one is breaking down and one is breaking up. It is a bad idea to enter right now as we are not sure of where is it going to head to so it is better to stay out till we get a break out and a retest. If it breaks down, I have already plotted a good take profit if you short or if you're a...
Hi everyone, this is my idea on EURUSD. EURUSD has now broken out of the ascending channel but always remember we don't enter aggressively but we want to enter at retest. There is a total of 2 take profits you can decide where you want to leave. Good luck all!
Hi everyone, this is my idea on XAU/USD. As we can see here gold recently got rejected at the top of a descending channel so what we can expect is probably hitting the low of the channel and then back up to the top. We would only want to go long if it breaks out higher in the downward channel and vice versa going short if it breaks down of the descending channel....
On the daily chart, priced closed as a doji which means a possible reversal for gold. Another confirmation for the forming of the doji is that price is also at resistance level. A high chance of pullback can happen. Fibonnaci was also used to confirm the reversal and the current price is at Fibonnaci level of 61.8. Another confirmation of pullback can happen. Be...
Price has already broken out of the trend line, to those to had already long you can hold it till the next resistance level. To those that did not enter you might have a chance. place a buy limit a few pips above the resistance level, if it hits, take profit at the next resistance level. Please forgive me if theres any wrong in my analysis or any wrong use of...
Price has broken out of the trend line and it is acting as a new resistance level to the current price. I would suggest to place a sell stop at the resistance level and take profit at the support level. The resistance level is quite strong as both the trend line and resistance crosses. Please forgive me if theres any wrong in my analysis or any wrong use of words...
USDJPY weekly chart shows a strong channel forming and price is currently top of the channel. A good opportunity for a sell if a new bear candle forms. If price breaks out of the channel, it would be a good long and it could hit the next resistance level. Please forgive me if theres any wrong in my analysis or any wrong use of words as I just started Forex not...
Price is currently at a support level, if price does not break through the current support level, it would be a long opportunity. If price do break through the current support level, there will be another support level, it would be another long opportunity if it rejects the lower support level nicely. Make sure to enter only after a second candlestick has formed...
Price is currently at consolidation phase now, not suggested to enter at this point but if it breaks out of the downtrend line. It would be a perfect long after confirmation (a second candlestick forming after breaking out would be a good long confirmation.) Please forgive me if theres any wrong in my analysis or any wrong use of words as I just started Forex not...
Price has broken out of the trend line signalling a start of a new trend. The price is predicted to touch the support level before it reaches to the next resistance level. Not suggested to sell as price may reverse up any time. A good long opportunity is when price has touched the support level and reject it nicely. TP would be the resistance level. Please forgive...
