Just want to share my approach to trading here. I currently do analysis for 6 brokers including IC Markets, tickmill, exness and easyMarkets.
I'll post only the best setups here.
My approach involves using fibonacci retracements, fibonacci extensions, horizontal support/resistance, oscillators, ichimoku (mainly for trend strength) and price action. I hope we can bounce ideas off each other - especially when our trading calls might be contradictory.
Also, feel free to share your ideas with me. I am always interested to know how others analyze the markets.
USDCAD is fast approaching major resistance at 1.2929 (Fibonacci retracement, Fibonacci extension, horizontal
swing high resistance, bearish divergence) and a strong reaction could occur at this level to push prices all the way
down to major support at 1.2825 (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below 94% where a corresponding reaction could occur. We’re also
seeing bearish divergence vs price signalling that a reversal is impending.
XAUUSD bounced perfectly to reach our resistance target. We now see major resistance at 1304 (Fibonacci
retracement, horizontal overlap resistance, descending resistance, Fibonacci extension, ichimoku cloud) and a strong
reaction could occur at this level to push prices all the way down to major support at 1284 (Fibonacci extension,
horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.