Posts Tagged ‘Trend’
Swing trading is – to me – defined my first identifying a trend using my GRaB candles and 34EMA Wave. Second I look for corrections which are bounces to resistance in a downtrend and pullbacks to support in an uptrend. Another one of my favorite tools to use is Autochartist’s PowerStats which offers me insight [...]
This is a question I received from a new trader who has been learning about how I trade. It’s an interesting question – especially during these times where the lack of a bullish or bearish Directional bias on many majors – is increasingly driving me personally to the shorter-term, intaday time frames.
I think it posed [...]
GBPUSD is facing the resistance of the downtrend line from 1.6441 to 1.6261, a clear break above the trend line resistance will indicate that a cycle bottom had been formed at 1.5912, then lengthier consolidation of downtrend from 1.6546 could be seen. On the other side, downtrend could be expected to resume after touching the [...]
EURUSD stays above the rising trend line on 4-hour chart, and remains in uptrend from 1.3969. Key support is now at 1.4557, as long as this level holds, uptrend could be expected to continue, and next target would be at 1.4750 area. However, a breakdown below 1.4557 will indicate that a cycle top has been [...]
GBPUSD broke above the trend line from 1.6516 to 1.6302, suggesting that a cycle bottom had been formed at 1.6059 on 4-hour chart. Now the pair is facing 1.6302 resistance, a break above this level will confirm that the downward move from 1.6745 had completed at 1.6059 already, then the following upward movement could bring [...]
Bullish Dollar Price Action Suggests Correction Underway
The outlook has been pretty bad for the dollar recently. The forex markets, however, have a habit of turning just when everybody decides on a certain direction.
The US Dollar has been under the hammer for a while now but this week gave the dollar bulls something to cheer about. [...]
Price action on EUR/USD (a daily chart of which is shown) as of Monday (3/28/2011) has begun the week by continuing last week’s bearish correction and dropping down to approach the key 1.4000 psychological support by just 20 pips before making a pronounced bounce. This bounce also occurred right around a key uptrend support line [...]
The EUR/USD has traveled to the upper limits of the current range as the euro continues to benefit from hawkish expectations of a future rate hike. The strong data out of Europe has propelled the euro past the sinking dollar and pushed prices to 1.3854 and a second consecutive session of a rally to the [...]
Price action on EUR/CHF (a daily chart of which is shown) as of Wednesday (2/23/2011) has dropped down to key support in the 1.2800 price region. This occurs after a key uptrend support line extending from the early January low was broken down in mid-February. For more technical analysis on this currency pair, please click [...]
USDCHF stays above a rising trend line on 4-hour chart. As long as the trend line support holds, uptrend could be expected to continue and next target would be at 0.9800-0.9850 area. However, a clear break below the trend line could indicate that a cycle top is being formed, and the rise from 0.9328 is [...]
