growthbank

growthbank

GBPJPY has been in an overall buy trend for the past month. We recently saw that it had a healthy 68% retracement around the weekly zone, and has since been consolidating around the price. Because of the overall buy momentum we are going to assume that market is going to want to continue going up, and since it has had its retracement it has formed a buy trend on...

growthbank

Okay so the lesson and take away from this trade was to not be so confident when trading against the trend and against a clear buy trend structure. Up until this point this has been the worst trade idea I have had because it was so obvious a buy trend and in my ignorance I ignored all of the signs. We had a deep 78% retracement zone followed by two lower high...

growthbank

I was being too eager/greedy on this trade. Had I been a little less eager to make a ton of money on this trade, I would have been in a good position to get a excellent scalp. My stop loss was only 3 pips which in the real world is pretty unrealistic but you live and you learn. The stop loss was only off by 7 pips which is a really good sign. This means that the...

growthbank

I am currently backtesting this losing AUDUSD trade to identify what was done right and what I could have been done better. Overall I had the structure of the trade perfect down to the take profit, but the issue with this trade was the stop loss was too tight. I understand the uses of supply and demand zones now, so I will be less likely to make this mistake again...

growthbank

According to a top down analysis of the pair, price has recently broken the sell trend and has successfully retraced into a 50% fib. We are now looking for this pair to retest the lowest part of the retracement in the demand zone, where we will gather buy positions and hold until about 200 pips.

growthbank

I started with a top down analysis and noticed that according to the weekly time frame, this pair has reached it's support zone. On the daily chart we have seen that price has formed a double bottom testing the support zone. On the H4 we have seen a downward facing flag formation, and according to proper market structure we are expecting a bullish movement to...

growthbank

When I trade major pairs like USD or JPY, I notice a more stringent market structure formation. Very rarely do these major pairs not follow market structure rules on higher timeframes. We see a clear bullish movement according to the horizontal support line. I'm looking at an entry at the last retracement wick, which beautifully touched the 61 line on the fib. The...

growthbank

According to top down analysis, the D1 has started to form a triple top formation. I see price retracing back to the 61 on the fib, which also happens to be the cross formation of the alligator indicator. We are going to wait for price to retrace back up to entry, and then we should see bearish moment continuing.

growthbank

GBPCHF is currently approaching the last lowest wick support zone. The pair has also formed higher highs on the D1, so I am expecting a double bottom to form at the support zone, and go into bullish momentum. Stop loss is tight so we are looking at a solid basic support to resistance trade, according to the upward trend of the pair.

growthbank

We are looking at a bearish pennant variant on the D1. I am expecting price to continue selling towards and eventually past the horizontal support line. Price has currently attempted to touch the major resistance zone, and missed it by a few pips, indicating that this pair is preparing to break structure and turn. My sell limit is assuming that price retraces to...

growthbank

We are observing the formation of a bullish pennant formation on the daily time frame. A top down analysis allows us to observe the pennant on the Daily, and understand that before price makes its way into a bullish formation, it must respect the horizontal support line. Our buy limit is set at the bottom of the horizontal support as it pertains to the last two...

growthbank

I set the sell limit higher than current price because I believe the pair will retrace back to the last highest wick, around the 61 in the Fib from the current price. I see price going straight down into the support zone and either sell past it or make its way back up, regardless we are in a good position for a 33 pip stop and a 300 pip gain.

growthbank

I have been looking at AUDCAD for a while, as it has began to approach a high that it has not touch in a few months time. I knew it would begin to sell and now the movement has started. Our entry is already approaching TP1, we are looking for it to possibly retrace back up to entry and then bring us into the trade, and we are going to ride it down a couple hundred pips!

growthbank

On the higher timeframes we can see an obvious uptrend beginning to form on GBPUSD. The current price has gone back up and began to come down after confirming a double top on an ascending triangle formation. We are taking sells until it continues to go down to create a 3rd touch point of the triangle on the horizontal support line, where we have set our buy limit.

growthbank

I drew the trend out on the week chart and discovered a textbook ascending triangle formation. Price double tapped support and has already begun to trend upwards so we are going to ride price up to the top of the triangle.

growthbank

I'm expecting price to bounce off of this diagonal support zone and go into a buy. However in order to get a more precise entry on the H1 I set the entry to the original lowest wick rejection of the support zone.

growthbank

After the wick rejection at the support zone, I believed gold will trend up towards the last resistance zone. Simple but profitable. You can catch buys anywhere between the two zone, as price makes it's way back up.

growthbank

I was initially looking to take sells for this pair until a proper top down analysis indicated a textbook Falling Wedge formation. We will see the price break out of the resistance zone, break horizontal resistance and breakout into a buy.