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Focuses on forex trading using the Elliott Wave theory. Believes in predictable market patterns.
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BTCUSD
I saw a YouTube video this morning about BTCUSD, and the guy was talking about how the 200-day SMA is really important. He said if the price goes below it, it's usually a bad sign for a while. I'm a b...
1
Apr 29
BTCUSD
He also mentioned that sometimes price can just dip below the SMA for a bit before recovering. Still doesn't make me feel much better though.
0
Apr 29
BTCUSD
@matilda470 I totally get what you mean about that resistance around 78500. I'm also new to this and I saw a chart where they marked the 200 SMA way up there. It makes me nervous seeing the price hove...
0
Apr 29
XAGUSD
Well, that Friday close was a bit of a worry. I'm holding a small long position from earlier in the week around 73.80, and seeing it dip to 72.96 on the close has me a bit anxious about the weekend. I...
1
Apr 05
XAGUSD
Yeah, I'm really hoping that 50-day SMA at 73.50 holds. If it breaks through that, I might have to reconsider holding this position over the weekend.
0
Apr 05
XAGUSD
Thinking ahead to Monday's open, I'm really watching that 72.07 S2 pivot point. If price opens below Friday's close and heads straight for it, that could signal some real weakness coming into the new ...
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Apr 05
USDJPY
Looking at USDJPY on the hourly chart, it seems to be respecting the upper Bollinger Band around 159.30. If it can't push through that resistance, I think we might see a slight pullback towards the 50...
1
Mar 25
USDJPY
Just entered a long position on USDJPY at 159.20. Hoping to catch a move towards 159.50 or even 160.00 if momentum continues.
1
Mar 25
USDJPY
@kevin_c54 I agree with you Kevin. I've noticed the volume picking up a bit too, especially on that last push. It's not exactly explosive, but it does feel more substantial than the earlier wiggles we...
0
Mar 25
DXY
Honestly, the slippage I experienced on DXY today was just ridiculous. I placed a limit order right at the 99.50 support, and it filled me almost 15 pips higher. It's like they're actively working aga...
0
Mar 16
DXY
Hi Theresa, I've been trying to understand those correlations too! It seems like when the dollar weakens, like it has a bit today with the Fed news, commodities often get a boost. Equities are a bit t...
0
Mar 16
DXY
Hey Chidera, I saw your post about the FVG on the DXY H4. I'm still getting a handle on identifying those properly myself. The price is hovering around the 50 SMA at 99.59, and that pivot point at 99....
0
Mar 16
XAGUSD
The market being closed over the weekend always feels like such a drag. I find it difficult to completely switch off from analysing the charts and planning potential trades for the coming week. I supp...
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Mar 07
XAGUSD
Hi @angela_j39, I've been looking at the same potential double bottom formation you mentioned around the 82.30 level. While it's a possibility, I'm a bit cautious. The overall trend on the daily chart...
0
Mar 07
XAGUSD
Hello @lmenon943, your bearish outlook is certainly a perspective I'm considering. However, with Friday's close showing a 2.77% increase, could this be a potential shift in momentum? While the RSI is ...
0
Mar 07
XAGUSD
The weekly close for XAGUSD is interesting, isn't it? With the RSI so high, I'm wondering if we'll see a pullback early next week. However, the SMA's are still showing an upward trend, so perhaps it's...
1
Mar 01
XAGUSD
@james87 James, holding through the weekend is always a bit nerve-wracking, isn't it? Especially with that RSI reading. Your stop loss at 82.50 seems quite conservative given the recent price action. ...
0
Mar 01
XAGUSD
Update: I'm also considering the Bollinger Bands; the price is right at the upper band, which often acts as resistance. This adds to my suspicion of a possible pullback next week.
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Mar 01