Consolidation? Trending? Chicken? Football?
GBPCAD For the week ahead I am looking to take advantage of the GCs 1h and 4h downtrend. The pair actually seems to have been consolidating since 27th Jan 17. (if you look on the daily/weekly) which is an interesting topic, something i hope someone can answer... If we are consolidating on higher TFs (D/W) But looking to execute a trade on the 15m, do we still take the MA into consideration, or treat them as we would when price was consolidating and ignore them? For now, I am going to take them into consideration on this trade idea. Lets Jump to the 1h, 4h and 15m. Here you can see the price has formed a beautiful downtrend from the upper limit of the consolidation area and seems to be moving back down to the lower limit. So, here's my idea... We have just passed a respective trip wire in the downtrend and started to trade under the 200/50ema, there has been a cross of the 200/50 ema and a BCR of a 15m supply and demand zone. I will be looking for one more continuation candle to the down side, then I will execute my trade with a TP just above the "Daily median line" (faint blue line) This line has been respected over and over again on the daily in conjunction with the upper and lower limits of the consolidation area. We will see... Any feedback is appreciated!
Looking for Continuation of the Trend
Risk to reward ratio meant -126 pips to get +274 pips USDCAD is going with my prediction so far, looking to sell more on it with price action analysis plus ICT strategy... following trendline channel and no violation at all... Next target on USDCAD is 1.22500
USD/JPY - going short
This is just another example of the previous trading idea I posted on Friday; Using Max's sniper system. I adapted the system by using channels/wedges to help determine trend and entry points. This also helped to determine stop loss and more realistic targets by using the wedge support/resistance lines as my stop loss and targets.
XRP looking Bullish again
This is a Channel Break-out Strategy, Price currently broke out of the Descending channel to the upside, wait for a Bullish confirmation before entering a Buy. As you can see Price had dropped and Bounced off a strong support at the 200sma on 1 hour time frame which happened to also be the 50% of the Fibonacci Retracement Level. I usually apply my Trend-Based Fibonacci Tools on the Channel Break-out (seen here with the Purple color) I usually base my TP1 at the 100% Fib Ext Level and TP2 at the 161.80% fib ext level. IF price continue it's climb TP1 RRR will be 4.34:1 and TP2 at 6.33:1 PLEASE NOTE I DO NOT TRADE XRP, I BUY TO INVEST AND HOLD ALL MY CRYPTOS IN COLD WALLETS 🚫🚫🚫⚠⚠DISCLAIMER: ⚠⚠🚫🚫🚫 This is my personal view of this Chart; it does not provide any Signal advise! It is strictly for educational purposes only! You can use the information for your own trading plan. So Please do your own research and analysis and use this information appropriately. Trading is very speculative and risky and carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. Personal Free Advice: You Should NEVER borrow any money to invest, you should NEVER use money intended to feed your Family, Pay for School tuition or Pay for Bills for the purpose of investing in Forex Markets! Hit the Like button if you agree with my idea!
Consolidation? Trending? Chicken? Football?
Looking for Continuation of the Trend
USD/JPY - going short
XRP looking Bullish again
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Andrew Lockwood
X30+ years experienceStarted in the trading pits of London with some of the biggest traders in the world. Migrated to screen trading around 2005 now trades full time focusing on FX, Indices, commodities.
Max Norbury
X10+ years experienceMax is a diligent and pro-active individual with a wealth of experience in technical and fundamental analysis, high-probability trading and mentoring within the financial markets. He has also has a variety of non-accredited analytical certifications.
Mark Bennell
X15+ years experienceCertified Financial Technician (CFTe), Diploma of Technical Analysis, Diploma of Share Trading and Investment. 14+ yrs trading experience. Focus on the process and the money will follow.
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