Hi traders, here's a quick comparison between silver and gold.
Silver has reached the upper channel resistance and is forming a bearish pinbar pattern, signaling sellers are joining the market again. The resistance aligns with the 61.8% Fib level which could provide additional selling pressure and lead to a continuation of the recent downtrend.
Gold to follow...
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That's the best way to...
The brain does not like repetitive losing.
Be sure to stop trading after 3 losing trades in a raw!
2: Create a trading plan and stick to it.
Successful traders have a plan and they trade nothing but the plan!
3:Manage your mood:
If you are ill, cranky, depressed, or sad, STAY AWAY FROM TRADING!.
4: Keep detailed records:
A trading log...
Lower highs are being formed as can be seen on the daily time frame
Flipping to H4 I noticed a bearish engulfing bar that perfectly tested the resistance level. Given the major resistance holding strong this sell signal is somewhat significant.
For this type of setup the stop is best placed above the engulfing bar where...
Hi traders, here we have the GBP/CAD pair at an important 4-hour/daily support.
The pair reached the lower trendline support, a horizontal support zone and the 61.8% Fib level while trading in an overall uptrend, signaling a potential retest of the recent highs.
Notice the bullish divergence in the RSI indicator.
You may remember our H&S pattern idea in Gold a few days ago, and this is an update on that setup.
The yellow metal broke above the H&S neckline last week which didn't act as a resistance for the price.
However, the pattern is still valid in our eyes as the price is facing difficulties to break above the 61.8% Fib level, signaling a possible new lower high in...
1. Our EUR/USD trade has reached its take-profit level last week as expected and is now facing selling pressure at the upper wedge resistance.
2. That price-level aligns with the 61.8% Fib level and a horizontal resistance zone, signaling a potential continuation of the underlying downtrend.
3. Notice that the RSI has already reached its recent high, showing...
The USD/CHF pair provides us with a nicely-looking sell setup after reaching the 1.00 psychological resistance level which aligns with a horizontal resistance zone and the 61.8% Fib level.
The trade is also supported from a fundamental standpoint as US yields are plummeting and US manufacturing data hits a 10-year low.
The EUR/USD pair has just reached a multi-year low on a resilient US dollar, but today's candle shows that buyers are willing to step in at those lower prices.
The pair competed a 5-wave wedge pattern and the RSI shows a strong bullish divergence, signaling that further strength might be ahead.
We're following this pair in our trading group and will act...
Could'nt share this Trade setup earlier as I had a really busy week, I am currently riding the short.
Big Time Frame Analysis (Daily - Weekly):
Price hit major Supply at 1500 region and shows many indication of reversal patterns. We might really hit gold here since its the start of the downtrend.
Trading Time Frame Analysis (M15 - H1 - H4:
Head and Shoulders...