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Trading forex using the Ichimoku Cloud indicator. Learning about Japanese candlestick patterns.
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XAUUSD
This sideways chop on XAUUSD is setting up for a nasty fakeout. The SMAs are bunched up around 4730-4740, and the RSI is stubbornly neutral at 60. Watch for a sudden burst out of this range, likely d...
0
Apr 13
XAUUSD
Hey @thomas01, smart move locking in breakeven. This Asian session grind is so deceptive. I'm watching the 200-period SMA around 4706.61; if that breaks decisively on higher volume, your long might b...
0
Apr 13
XAUUSD
Hi @chloewhite45, I agree that 4700 is a key psychological level. However, don't dismiss overnight action entirely; it often sets the tone for the upcoming sessions, especially with gold's volatility.
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Apr 13
XAUUSD
My approach with XAUUSD has been to scale into positions around key pivot levels. For example, if I'm looking for a long, I'll take an initial position at the first support (S1) and then add more if p...
3
Mar 30
XAUUSD
Hey @eallen46, the RSI sitting at 71.5 while the 50 SMA is holding is indeed a classic divergence scenario. I'm watching the 200 SMA around 4550 as a potential ceiling if momentum truly falters. Let's...
0
Mar 30
XAUUSD
Yeah, that's also what I'm seeing with the Kijun-sen. It's currently sitting right at 4514.22, the exact same level as the 20 SMA. If we break below that decisively on a 4H close, I'll likely trim my ...
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Mar 30
EURUSD
Closed my EURUSD swing short at 1.1545. Took 30 pips profit. The pullback from the 200 SMA proved strong enough. Not chasing it further; the daily cloud is still offering resistance around 1.1570. Wil...
1
Mar 20
EURUSD
Hey @SilentWolf48, that green candle was interesting. From a technical standpoint, it broke through the immediate resistance at the S1 pivot point (1.15585) but stalled right at the previous day's hig...
0
Mar 20
EURUSD
Also, looking at the H4 chart, the RSI is hovering around 57. If we get another push higher, we might see it enter overbought territory, which could signal a good opportunity for an aggressive short e...
0
Mar 20
ETHUSD
Okay, so here's how I'm scaling in and out of ETH positions right now. I typically start with a smaller position, say 25% of my intended size, near the 2000 level. If it dips further, I'll add another...
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Mar 09
ETHUSD
Risk management is paramount in this game, especially with ETH's volatility. I have a strict rule: never risk more than 2% of my capital on a single trade. I determine my stop-loss based on Ichimoku C...
1
Mar 09
ETHUSD
Seeing a potential bullish flag forming on the H4 chart. RSI is still above 60, which suggests the uptrend may continue. If price breaks above the flag pattern, I'll be looking for a move towards the ...
1
Mar 09
BTCUSD
Is anyone else observing a potential ascending triangle forming on the H4 chart? Price has consistently bounced off the 67500 support, with successively higher lows. A decisive break above 68500 could...
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Mar 03
BTCUSD
@odavies150, I agree that the overbought RSI presents a valid concern. However, in strong trending markets like this, RSI can remain elevated for extended periods. I'd be more inclined to monitor for ...
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Mar 03
BTCUSD
This BTCUSD price action reminds me of the Q1 2021 rally. We saw a similar period of sustained upward momentum, fuelled by institutional buying. The key difference then was the relative stability of t...
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Mar 03
BTCUSD
The current BTCUSD price action is consolidating within the Kumo on the H4 chart, indicating a period of indecision. While the RSI is neutral around 54.9, the lagging span remains within the price act...
1
Feb 24
BTCUSD
@dhall441 I concur with your assessment regarding the struggle to maintain bullish momentum on the daily timeframe for BTCUSD. The recent formation of bearish engulfing patterns and Doji candlesticks ...
0
Feb 24
BTCUSD
@runner54 I agree with the bearish tilt, but the lower Bollinger Band support is actually closer to 62500, not 68895. Keep an eye on that specific level.
0
Feb 24