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stefcio2002
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Ok I made a video of my trading plan on AUSDUSD trading plan (2015 03 09)
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I got some support at 1,065 from the monthly. But I think we are going south.
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2015 03 08 Powerful bearish action. We broke a weekly fib support, I will use it as resistance. I am looking to sell rallies.
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USDCAD is in a consolidation figure on H4. The fact it broke down H4 SMA200 on its second attempt within that consolidation figure just add to the confusion. I will wait until it exits that triangle.
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It depends what do you need a broker for : demo, live? Are you a scaler,, a swing trader? Do you want a ECN account, a classical one ? Do yu wish it to be FCA regulated or not? I am using a Tickmill ECN account on demo to check them before going live, and so far so good : spreads are ok, service is reliable, so I am happy with it. But that's just my point of view.
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GU is close to the 1,5325 weekly fib level support, and gave a H1 long signal. Jumping into it (only demo on Asian session)
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How to Spot a Bottom or Top?
stefcio2002 replied to GoOptionsPro's topic in Swing Trading and Position Trading
Look at EU now. Everybody is short on short time frames. But from a higher perspective we may actually have a turning point at current level , for we are sitting at a monthly fib level. On H4 you see also (right part of chart, that 1,11 is a support) Therefore, I will be bearish too, but should I got a long signal around 1,1 I will buy because of the monthly chart. And this is how I spot eventually turning points. -
I think it may go up too. it is just too obvious you have to be short on that one, and we got a break out from the monthly that has not been retested yet.
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Well We did not even meet 1,56 before it reversed so I did not have the occasion to sell: the pair did not pass the daily SMA100. On H4 please take note that we are still technically in an uptrend, as long as we do not break the 1,535 last low's line. Still the fib line named 23,6 is a strong weekly support/resistance zone. I would look for signals (short or long) there. A bearish break out oof 1,535 would make me bearish on h4.
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Yes, on the long term. But on the monthly you see it is retesting SMa200, we are nearly at the end of the month, and that candle looks more and more as a hammer. Then on the H4 we just broke a range resistance, even though the pair failed to cross the SMA200. SO yes I remain bearish long term, but I think we may first do a little consolidation (to ,8 ? to the 61,8 fib?)
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I ma not sure. On the daily I see we are approaching a resistance zone, so I think we may consolidate at that level. I will rather try to take profits, and may be to sell around1,56, aiming to get back to the fib broken resistance at 1,544.
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Definitely consolidating. For me it is a range and not a triangle,but this i secondary. Ths point is to wait for the pair to exit the consolidation figure.
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So do I.On H4 it looks like a clear trend reversal. I wold prefer to go long on that one.
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Yes, on the daily it is in a consolidation triangle, but my support is a little bit higher around 1,236. And as it is as triangle, my resistance trend line is decreasing. But yes, the upward momentum is gone for now.
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Right, but 119 is also very strong support/resistance level. I took short when I got a H4 double top at 119,2, for since two or three days I saw no real bullish pressure on UJ. So far so good. Please pay attention that several yen crosses pairs arealso entering resistance area. If they start going south, that will be additional buying pressure on the JPY. Currently (2015 02 19 5 09 AM GMT) the pair is rebounding up on both H4 SMA100 and 200 at 1118,36. If you are confident in the uptrend, nice place to enter long. If you are confident.