Price had a nice bearish push down to ~1.24391 levels before finding support
Price bounced up off these levels up to ~1.25515 levels and found possible resistance as price hit this ceiling and push back down.
8/2-/8/3 on the Daily price is back at ~1.25515 resistance levels it may continue trending up but I'm thinking USD continues its bearish trend ("the...
Analysis
Price is currently trending up after a nice bounce off of support at ~0.73431 levels
Price currently finds itself in a previous support/resistance area ~0.74847 levels
Recent data shows six previous times where price found support/resistance in this area
Trade Triggers
More indication that price is finding resistance at this...
I've been looking for a short opportunity on the 12hr and 8hr charts since price action has been so bearish on aud/usd and there were a couple of triggers lining up that motivated me to enter a position. Main one being the daily chart above
bearish trend
price has pushed back up to support/resistance area
12hr chart showing indecision candle
...
The aim of this study is for to become more efficient in my analysis of charts and of course to be a profitable trader.
Any feedback on my notes, ideas, charts, and trades would be greatly appreciated and help with my improvement
My goals are to improve the following:
Identify key support and resistance areas
Improve my analysis and understanding of price...
This is a study of AUD/USD price action from a novice forex trader's perspective just shy of 2 years live fx trading
The aim of this study is for me to get better at the following:
identifying "key" support and resistance levels
identify good trade setups based off of my analysis of these support and resistance levels
better understand the currency pair's...
Price started off 2016 with a strong bullish trend capping off with a high at 0.78340 , and lost momentum
Potential Long setup, if price reverses and bounces off of support at ~ 0.723257 levels with tight stop loss and good risk reward ratio 1:2.5 or better. Price may also slice through this level and drop down to ~ 0.71830 levels
I would be looking for...
I watched price stall at a resistance level ~102.586, unfortunately missed a move I was contemplating on trading down to a previous strong support level ~ 101.00.
However, now that price is in this, what I think a very strong support zone, I'm going to wait and watch where price goes. There are 3 possible set ups I would look for, and all 3 are a bounce off a...
