On EURUSD, we now have a solid bearish channel forming, which points to confirming my long-term outlook on the pair. (With the Weekly Bearish H&S.) However, I can not take a trade on this pair right now because of what I'm showing you on the 4H chart. With the very negative jobs report coming out of the US today, the pair has found enough energy to push off of...
I'm showing the entire top-down analysis for this pair, and how I'll be trading it for the next week or so. On the Daily, we have a Head and Shoulders pattern that isn't exactly optimal in my book because it is slanted downward. If you look at the channel that I have drawn, you can see that the angle and height of the right shoulder is still in alignment, making...
This one isn't very clean, but I'll be considering it when it reaches the entry point. I will take other factors into account, but its entry is at the resistance level for the channel on the higher time frame. Keep a look out and make good decisions, guys. Also, send me a message if you're interested in learning, I'd love to help.
I took this trade on AUD/USD earlier today, and it worked out beautifully. I have been seeing many of these formations lately and I love to take these opportunities when they show up because they are pretty predictable. This is part of a larger trend that I'm following and I'll be sure to add another idea when I get close to an entry.
First of all, these trades are my own analysis and opinion. Every trader should do his or her own research and decide whether or not to execute on their own.
My purpose in sharing these trades is to educate newer traders and to show my trading strategy in hopes of receiving constructive feedback. If you want me to continue posting my trades here then a comment,...
Right now, it appears that USD/JPY is trending back up to triangle resistance. Right now, we are at the 50% retracement mark so watch closely for signs of reversal or other patterns forming on lower time frames to see which direction this thing might go. Otherwise, wait until it hits the resistance line and see what happens. Good luck!
Hey guys, I have been trading using Murrey Lines lately since I was introduced to the man that created the theory. It's a very interesting technical concept and I urge more traders to explore the strategy. Here we have a Murrey trade where price has reached the -2/8 line on the Daily chart, as well as the 0/8 (hardest line to break) on the 4H and 1H.
I expect an...
You can see my structure lines here. I bought at the bottom of the channel, where it happens to meet a previous support line. The stars have aligned, time to buy. Target is set at 110.925, 75 pip stop loss. Let me know if you've been watching this too.
These trades are my opinion only, not fact.
The chart should be easy enough to read. The pattern could also be flipped if a breakout to the downside occurs. Will update.
