Market analysis and trading calls

Forex Mind Games

Private, 1st Class
Messages
49
Hidden in plain sight


We have eyes yet we do not see. When our eyes are opened, we saw what was always right there in front of us. It is "hidden in plain sight." I have talking about 88.6% for the whole of this week. Once i know the "what", it becomes that much easier to find the "where."

88.6% as a trading strategy, when utilised with other trading tools, should yield profitable results over time. Below is a screenshot of another 88.6% on the AUDUSD 1hr chart.

Do not ignore this simple trading system. Plot the FIBO retracement levels IN ADVANCE. When the markets makes a high and a low, preferably on a larger timeframe such as the 1hr or more, put in the FIBO levels immediately. Then watch what prices do when it retraces to the FIBO levels. If the FIBO levels coincide with previous major support and resistance levels, this gives double confirmation. This should give the trader extra confidence that the trade will be profitable.
 

Forex Mind Games

Private, 1st Class
Messages
49
Eurusd price action preview

EURUSD is currently resisted by another super long term trendline on the daily. Point 3 of the falling channel was touched last week.

Will EURUSD break above this down trendline? To answer that, lets take a closer look. Lets see the price action on the 4hr chart. There are 2 possible ways to analyze the 4hr chart.
For the bullish traders, EURUSD is in a symmetrical triangle. Symmetrical triangles are usually continuation patterns. Since the trend is up, the bullish traders will want to try bring EURUSD above and outside triangle. Thereby causing the bullish trend to continue.

For the bearish traders, they will try to cause a double top pattern to invalidate the triangle pattern. Since double tops are key reversal patterns, EURUSD should drop like a rock.

My personal preference is to trade the triangle continuation pattern. I am of the bullish side. I think the temptation is there for Spain to take the easy way out. Politicians are not known for their long-sightedness.
 

Forex Mind Games

Private, 1st Class
Messages
49
channel and elliott

For this post, i am going to ask you to guess the timeframe for these 2 charts. The time and price has been removed from the charts. This post is to show the fractal geometric nature of the markets. Chart patterns that repeat itself on all time frames, from the largest to the smallest.
What timeframe is this?

 
Top