Discussion in 'For novice traders' started by Predator_, Aug 24, 2020.
On this chart, we expect a possible momentum to the upper side towards the upper trendline.
On ths British pound chart, buy a bounce from the supportive trendline towards the upper trendline.
Just as the British pound, EURUSD is showing signs of giving us a good buy around the supportive trendline towards 1.19550.
This chart is bearish, look for long term sell positions towards 103.385.
This is consolidations, we are waiting for a breakout above the upper rend line to pick a buy or a break below the red box to pick a sell position.
On this chart, we have a very good sell set up.While the price remains below the previous week's opening price, we are looking for long term sell positions
The most important step in using technical analysis for forex trading is knowing market conditions. For this, you can't just open a chart and guess "wow, it's going to go up". Guesses like that are the way people gamble, not trade. In order to find out about market conditions too, traders can compare price movements on the chart on several timeframes. The goal is to ensure that open positions will not be crushed by movements on different timeframes.
I thought you could give me more of the analysis we are having above, is these analysis not good enough for you mate? thank you
A major resistance is seen around 21.91-21.8760. While the price is held above this zone,we are looking for long term buy position
This is still very much bullish. While the price remains above the upper resistance level, I ex[ect further momentum to the upperside.
On this chart,we are looking for long term buy positions towards the upper trendline and may breakout much higher.
This is a good breakout and as long as the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside.
On this chart, look for long term sell positions towards the lower trendline.
On this chart, we are waiting for a bounce from the upper trendline to look for sell positions towards the lower trendline.
It's a bit difficult to see the chart since the pictures cannot be opened. It would be useful if you provide the links to those images
I'm waiting for a detailed explanation because as a beginner it is difficult to read market charts.
Thanks for sharing in this thread.
I think he used breakout strategy + trendline, this strategy is simple and good. Trader using it to know the next trend. But always remember to use your stop loss and take profit.
Separate names with a comma.