Tradingtips
An insight into becoming a better trader!Hey all!
Happy weekend and I hope this week has been good for you, in profits or lessons!
In this video we go over 4 insights that if followed can and will make you a better forex trader!
We hope the video helps you in one way or another, and if it does our job will be counted as a success!
Have a great weekend!
PS: We go over our BTCUSD long trade too!
GBPCHF H4 - LONGGBPCHF H4 - LONG
Prices are constantly making higher swing lows, eventually leading to a breakout towards the upside. Currently, looking for a retest onto the support area where we will take a potential LONG position.
Monitor the price action at the support area before taking the trade.
USDCHF H4 - LONGStrong breakout of previous resistance, now turned support. It seems that prices are rallying due to the huge movement from US DOLLAR. If we get a pullback, we could take a BUY position.
Be patient, do NOT chase the market nor buy when it is rallying. A strong move usually consolidates after awhile, or retraces for a better entry!
EURJPY H4 - LONGEURJPY H4 - LONG
Strong push phase that broke the ascending trendline and now coming back for a potential retest onto the confluence zone.
Look for a depletion in bearish momentum and bullish price action at the confluence zone for a LONG position, with take profit target at previous high.
EURNZD H4 - LONGEURNZD H4 - LONG
Initially, we have a bearish trend and it went into a consolidation period where prices are moving side ways, more of a falling channel/wedge pattern.
Current strength and momentum is bullish therefore, we are anticipating the breakout and retest confirmation for a LONG position
Drop down to the Lower Timeframe (LTF) for a BUY opportunity towards 1.72000 resistance area.
AUDCHF H4 - SHORTAUDCHF H4 - SHORT
Started of with bullish movement followed by side ways or consolidation and now, we are able to see a potential reversal of the bullish trend, made by a series of Lower Highs and Lower Lows.
Prices recently broke the support area and we are looking for a pullback onto previous structure for a SHORT position towards the support area.
EURNZD H1 - SHORTEURNZD H1 - SHORT
Bearish move breaking down the ascending trendline and now came back for a retest, with a strong bearish rejection candle, or pin bar. However, bullish momentum may still be strong given how prices moved up towards the trendline and we may need to look for further confirmation or wait for bullish momentum to die down.
EURGBP H4 - LONGInverse head and shoulders pattern. This setup will take awhile before it becomes valid. We will be monitoring it closely.
What we are looking for would be a strong H4 breakout and retest onto the neckline structure, followed by an entry on the hourly timeframe for a move upside towards our TP area.
EURCHF H1 - LONGDouble bottom onto a support structure with huge bullish momentum given the current candle, although yet to close.
If the resistance level and trendline gets broken, look for a pullback, retest or trend continuation pattern for a BUY entry towards previous swing high!
Plan your trade and trade your plan.
AUDCHF H4 - LONG & SHORTAUDCHF H4 - LONG
Potential double bottom formation at a support area. Look for bullish pressure to take a LONG position towards the upper trend.
Otherwise, wait for a strong breakdown and pullback for a SHORT position on the lower timeframe, take profit target at the next support area.