Entries with no category
Talking Points: Fibonacci Retracement tracks the pullback after an extended moveTraders eye 38.2%, 50%, and 61.8% retracements as possible reversal levelsFibonacci’s ‘magic’ comes from its self-fulfilling nature Where to Draw the Fibonacci Retracement? Where exactly is that? For starters, we need to identify an extended move up or down on our chart. In other words, a swing low followed by a defined high or a swing high followed by a defined low. Below, ...
Talking Points: The Double-Top and Double-Bottom formation show multiple tests of support (or resistance) at a particular price level.Traders can look to trade subsequent tests of these price levels. The Double-Top/Double-Bottom The Double-Top or Double-Bottom formation will occur when two separate ‘moves’ bounce from a support or resistance level. This highlights that level as being especially strong, so that the next time price encounters this, ...
Dollar Bull Run Longest on Record after Fed Updates Rate Outlook As lackluster as the volatility and sentiment reaction was to last week’s FOMC decision, the event sustained the Dollar’s incredible run. Now on a 10-week bullish binge, this is the most enduring greenback run on record. Euro at Potentially Significant Turning Point The Euro tumbled to fresh lows versus the high-flying US Dollar on a week of bad news for Europe and much better developments out of the US. ...
Talking Points: AUD/USD short trade from last week triggeredSentiment still giving bearish signalsDowntrend could continue towards 0.8700 AUD/USD Support Broken - Bearish The trend line support cited in last week's article has been broken. The chart below shows that over the weekend, the AUD/USD gapped below the trend line and closed for the day. We had said we would act on a trade if the closing price was below support. That was our trigger. After a ...
Talking Points: The triangle formation can show in three varieties; we outline each below.Triangles signal congestion or consolidation as the range of price movement decreases.Traders can look to trade breakouts by treating triangles like other congestion patterns. The Triangle Trending markets will often put in a series of ‘higher-highs’ and ‘higher-lows’ (during up-trends), or ‘lower-lows,’ and ‘lower-highs,’ during down-trends. But what about ...
Archive
Go to Profile
Mark as Read