This is the GBP USD daily chart, our strategy is based on identifying banks and financial institution orders.if you can identify where a bank buys or sells, you will make money easily because you know when they will buy and sell again.
see the chart example.look at the move ? it is quick and strong (look at the big blue candles), this move indicates that there is a huge bank that bought the market from that area.this means when the market goes back to test this zone,prices will go strongly up.because when a bank buys or sells, it leaves more pending orders in the same area.
Now you identified the zone,but how can you draw the zone correctly ?
To draw the zone correctly, we use japanese candlestick patterns.the last candle that forms before the strong move up is called the basing candle.
in this example, the basing candle is the failed pin bar pattern.
so to draw the zone using this candlestick we draw the proximal line at the upper shadow, and the distal line at the nose of the candle.
During your analysis, you will find diffrent candlestick patterns as basing candles,and you should know how to deal with every signle basing candle. In my course , we have one module that covers in details all candlestick patterns that can be used as basing candles,so, when you find any
basing candle, you will be able to use it correctly to draw the supply or the demand zone.
Are you interested in investing in binary options. Join our
team to start making over $10,000 a week.
Invest $300..get $3,800 weekly
Invest $550.get $7500 weekly
Invest $800.get $10000 weekly
Invest $1000..get $13500 weekly.
Invest $2000..get $22000 weekly.
Invest $2500.get $29000 weekly.
Invest $3000..get $38000 weekly
Invest $5000..get $55000 weekly.
You can get payout very easily, You can achieve financial
freedom via binary options trading this year. #binary#cryptocurrency#swingtrading#141#forextraining
GBPUSD Technical Review
After staging a near 1.5% rally, marked as the highest 1-week gain since May, the British Pound will be somewhat sensitive this week as we draw close to the U.K. general election this Thursday to which determines the course for Brexit. As the Pound continues to challenge new multi-month highs against its rival the greenback, after cracking the tough level of resistance at 1.3055, now sets the challenge to 1.3190. Although a significant level, bulls are likely to be cautious in case of a bull-trap being set. DEFINITION of 'Bull Trap' - Any chart pattern, traders should be familiar with bull trap chart patterns (opposite of bear traps) as they are quite common in all markets. A bull trap chart is a bearish signal that forms in an uptrend. The most common place for a bull trap to happen is in a major resistance level/zone. It does not have to be an all-time high. A false break above 1.3190 could be that trap. In a situation when traders enter a long position near the top of an upcycle (trend), the market may unexpectedly reverse. Buyers then begin to sell their way out of their losing positions creating downward price momentum and ‘panic selling’ among the remaining longs still in the market. Meanwhile, weekend polls suggest that the ruling Conservatives Party continues to hold top positions across all major surveys. Shifting our attention to the weekly oscillators, we can see the 3-day RSI lookback is holding above the mid-way point, while the MACD holds to a bullish bias. Due to the volatility, stop-losses should be kept tight, according to your risk management as the uncertainties in the U.K. still remain, which is likely still to keep this pair a very high risk to trade.
#forexplatinumtrading #forex#forextrader #forextrading #forexlifestyle #forexsignals #forexmarket #forexsignal #forextrade #forexlife #forexgroup #forexmoney #forexprofit #forexeducation #forexmentor #forextraining #forextraders
EUR/NZD - daily time frame, price is touching the trendline for the third time, this level correlate with 1.27 Fibonacci. Waiting for bullish candlestick pattern or corrective structure on lower time frame.
Posted at: 2019-12-09 02:30:03
GBP/CAD - price is moving on parallel channel, we have AB=CD pattern fully completed, D point correlate with 1.618 Fibonacci level.