No Indicators - No Worries System - page 3
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USDCAD initially made a false breakout from its resistance level at 1.0470 and made a high of 1.0508 and failed to sustain above 1.0470. After increased interest rate decision from BOC from 0.75% to 1%, USDCAD made a strong push to the downside making a low of 1.0345. Considering the current sentiment fundamentally and technically, USDCAD is bearish and CAD may strengthen in coming weeks ahead targeting parity once again.
https://www.mql5.com/go?link=http://toppips.com/forex-analysis/forum/USDCAD090910.png
EURUSD is currently trading in a minor bullish channel. Yesterday it has made a low of 1.2658, but was unable to continue its downward extension. If EURUSD breaks below its current support at 1.2680, then EURUSD might continue to extend its downward extension to test its lows at 1.2658 and beyond.
Trade Suggestion: Go short if price breaks below 1.2680 targeting 1.2650,, 1.2600. Break below 1.2600 may push this pair to 1.2400
What's the point of posting charts if you don't wanna share?
Are you trying to sell smth?
If I am no wrong, this is Price Action, using candle stick formation, Support and Resistance, and Trend line...
If only greed would allow us to focus on just one chart alone and trade off it,trading would have being a lot easier than it is. It is disheartening, if not disappointing to here that a trader with 8 years of experience is still struggling to make it.
Having many charts open at the same time has blown my account severally over the years.,Until I finally told myself the truth.I used to wonder ,wow EURUSD,USDCHF are correlated,ie if one is going up the other is going down and also GBPUSD AND EURUSD are related i.e they both give positive buy sell signals.This preconception could give you tremendous profits but will wipe away your account in future.
Now I can barely manage one chart,talk less of 2 or more charts on the screen. But the point is I rarely blow my account, and for over 6 months of trading one currency pair ,I have developed a lot of closeness and familiarity with my chosen pair.. and my confidence and profits in trading have grown exponentially.
Oh yes, there are some trades I can confidently use 10 standard lots(which most professionals would agree that it is very risky) and make a killing.
YOU WORRY LESS AND PROFIT MORE WHEN YOU INVEST ALL YOUR TIME ,ZEAL AND ENERGY ON ONE CURRENCY PAIR.
happy Trading 2 y'all....
Cup & Handle Formation.
As we look into GBPAUD 1 hour chart we are able to see clear formation of Cup & Handle chart pattern. Cup & Handle chart pattern is considered to be reversal pattern. GBPAUD is currently on downtrend, this pattern signifies possible reversal on this pair. This could be evidence for the price to move higher fron this point.
Considering all the factors go long targeting initially 1.6670, 1.6720 & 1.6820.