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EURAUD update on the latest market movements Hello Traders !!! After the latest analyze that I posted on EURAUD was extremely successful and took more than 400 points out of the market, I believe it is time for a new update. At this stage everything is bearish on the currency pair however I believe thighs will change. After EURAUD reaching 1.68 I was expecting a retracement around 1.6580 (previous resistance) witch the market did. From there I was expecting the price to bounce back (witch it didn't), but that is OK because the more it goes down the bigger the number of PIPS that we can take again from it. The zone market on the chart, becomes now a VERY IMPORTANT zone. It is resistance and the market recently tested it and bounced back. Now if the zone is retested and holds then I will be very confident to take a long positions from there with targets at 1.6750 even 1.6800. The alternative, if the zone breaks then I will not enter into a short trade, i will just wait for the price to reach the blue line on the chart and from there to take a long position. Stay safe out there and if you trade EURAUD, make sure you trade with a low exposure because when it moves it moves 300-400 points in one direction. So make sure you can afford that risk.
Long
by opentrader08
How PATTERNS help us MAKE MONEY| EducationWe have many people who are just learning to trade, so I want to help you with this. For professionals - Reminder. THE IMPORTANCE OF PATTERNS 1) How to use Forex Patterns Patterns are often found on the PICTURE chart, which are formed due to price movements. They are not easy for beginners to notice, but for professionals they are GOOD helpers in predicting prices. The patterns can be roughly divided into "Bullish" and "BEARS". "BULLISH" patterns are those patterns that tell us about the likely future price growth and allow us to determine the position to open a buy trade. Rising "Triangle" Trend continuation pattern. It is formed by a rising support line and a horizontal resistance line. It is worth opening a deal with this figure after the price breaks through the resistance and rolls back, fixing on the line. Inverted "Head and Shoulders" It is formed at the local lows of the chart during a downtrend. After the figure is fully formed, the price growth can be expected. The minimum amount of growth is determined by the height of the figure: the line from its base - "neck" - to the central top. Double bottom The pattern is very similar to the one described above. It is also a figure that changes the direction of the trend. This pattern predicts subsequent price increases. Minimum expected height: figure height. The ideal buy point is when the bottom line is broken. Those who do not want to take risks can wait for the price to fix on this line. Flag The entry point and trend direction are important for this pattern. In general, this pattern is similar to a channel, but its complete formation can be said only after the trend line is broken. "Bullish" Flag is formed in the course of breaking the uptrend line - where you should look for a purchase - and as a result continues it. Pennant Also called Symmetrical Triangle. Within this figure, the price movement "fades" - the oscillation frequency decreases. At the same time, the pattern is preceded by a strong price movement - in the “bullish” variant - growth. After the complete formation of the figure, the growth continues. Wedge The pattern forms at the highs of the uptrend and continues it. The boundaries are the support and resistance lines. The moment when the price breaks the resistance line can serve as a signal to open a trade. The amount of mining in this case is determined by the "height" of the base of the figure. “BEARS” patterns are patterns that precede a price drop and indicate the possibility of opening a sell trade. Descending "Triangle" Such a triangle is formed by a descending resistance line and a horizontal - support. "Getting" into this figure, the price as a result changes the trend from upward to downward. Selling in this case is worth waiting for the price to fall behind the support line. Head and shoulders It is formed at the local highs of the chart when the price moves in an uptrend. After complete formation, the price can be expected to fall by the size of the pattern height. In this case, it is better to sell immediately after breaking through the base line or after fixing the price on the line. Double top As in the case of the previous example, this pattern indicates a probable change in the downtrend and opens up an opportunity to open a sell trade. For this it is worth watching when the price reaches the bottom line. After that, the price is expected to fall at least by the size of the pattern height. Flag In case of formation of the “Bearish” flag, the price is in a downtrend. We can say that it falls into a channel, which can be perceived as a correction to a fall. Then the price drops below the support line - which is the entry point for selling. Pennant As in the “bullish” variant in an uptrend, the Pennant is characterized by the presence of a “shaft” - a strong impulse. In this case, the price has fallen. After which the trading volumes decrease and the price fluctuations become less. The complete formation of the pattern can be considered completed after the price breaks the resistance line and continues the downtrend. Wedge The “bearish” wedge literally reflects its “bullish” variant - it forms at the highs of the chart in a downtrend. The deal is opened when the price breaks the support line. We talked about the BASIC patterns in the Forex market. But, of course, not all of the existing ones are listed here. It is important to understand that patterns are not 100% guaranteed to rise or fall in price. There are many non-standard options for forming patterns and reading the chart. However, knowledge of the patterns can help in the technical analysis of FOREX charts. What patterns would you like to know about? Write your suggestions in the comments, and I will take your opinion into account when I prepare the next article.
Education
by Lingrid
43
BLZ - The Blue Bull Heading to the Green Fields?BLZ is the coin of Bluzelle, a decentralized database that allows dapp (decentralized application) developers the ability to store data directly on the blockchain. They have a wallet and PoS features like pretty much everyone in the crypto world. On the chart we are seeing a consolidation triangle that has formed since a steep mid September drop. This triangle appears quite bullish, with a steep incline of higher lows. Current price looks to be right at the bottom of the triangle. MACD is in a good position for growth with the potential of a bear cross short term forming, which would bring us to test the bottom of the triangle. RSI is in a freefall but about to hit the bounce point recently. Volume has been dropping on sells and rising on buys, implying bullish bias. OVERALL Either play it risky by buyin in now with a tightish SL, under the triangle, OR wait for a retest and breakout of the upper resistance level. Potential for big gains on a breakout. Dotted line in TP for risk taker, dashed is for the breakout buyers. -- "The man who never alters his opinions is like standing water, and breeds reptiles of the mind." -William Blake -- I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you. If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Long
by cryptosince1963
GBPUSD NY SESSION PLANS (NEUTRAL)For some reason, the beginning of the week has been quite hard to trade, however, since we are snipers that doesnt concern us as we will just wait for the price to enter the exact setup and then we can execute. Now lets get on with the analysis: As we can see, price is relatively sideways for the early week, however i feel today we will see a bit more structured trades and its our job to take advantage of those, but only IF we can see the setups clearly and act accordingly. So, im going to start with the more likely before the last; : The path which bounces from the resistance level of course, for this to be valid of course we need a rejection at the resistance, just be patient before entering because price can shoot up and cut you out easily if your too early. This path is based on the fact that price has been rejected by this level multiple times already, which tells me we have built liquidity up top... : If price can somehow gain the strength to finally break the top resistance and retest successfully, we can confidently enter a long position and hold to the upper wick last made and go from there. Price was trending upwards before it entered this channel, so thats why i would look for a long... LAST THOUGHTS: If price continues to play in this channel, im going to start scalping smaller moves on a slightly bigger lot size since there are no structured moves at the moment. If your going to practice this, use proper risk management and set fairly small targets; the idea is to rack the small movements up while we wait for price to gain a little more structure so we can take the bigger moves. Trade safe Snipers, Precision FX posting to you daily :D
by fastboiijd
Selling pressure Appearing on 78.6% FibonacciThis week we saw Gold Pumped and got dumped at the level of 78.6% Fibonacci level and crafting out the peak in 2011 and bottom of 2016 within the range period and price very highly respects for fibonacci retracement levels. there are a few scenario for the gold and would like to highlight some of the things that we might be facing for clarity. For traders that trading using price action and support & resistance levels together with fib, you might already saw what i am seeing now. the confirmation will only happen after this month closing below the fib level of 78.6%. If it happens 1. will be seeing to trade within the inside bar of March 2020. the closing of the month will be a strong signal of the direction of the market. 2. Price breaking down march low and close will move towards 2013 - 2019 range for 2nd order flow. 3. If price fail to hold ant buy zone 1 and 2 will be seeing to reach near the 2016 low of 1040ish level for the third buy. Note: if price breaks below, will be seeing melt down from there. We have a possible weekly chart Wick selling when market open on Monday and with a definite risk of last week high will be a good area to place a stop loss to ride a mini trend downwards. I am quite bullish on gold for long term but for short term this is a short call. I hope you like my post and can support me by like follow and share my idea. Till then.
FX:XAUUSDShort
by ZenithThePunter
2