the current range is really a small zone of resistance from.3140 to about.3171 (more on support / resistance zones soon). This is what makes me believe I can succeed as forex trader. Example 2: gbpusd daily chart, heres a good exercise for you to work on: When marking support and resistance levels on your charts, mark the longer-term key levels first and then draw the shorter-term levels. When you combine those candles together, you get the story of price.
So the image above shows us three strong bullish candles heading into a resistance area. When you see that specific pattern, you assume that something will happen. How do you analyse whos in control of price?
I am layman in terms of investment. A lot of people fail and give up when trying to jump in forex trading. Example 10: WTI daily chart In the example below, we are looking at the current Crude Oil chart. This is where we make our profit! I teach my students a plethora of different price patterns to look out for when trading false-breaks and fakey setups. Hence, let us be absolutely clear, the buy and sell arrows that our indicator produces do not repaint, whatsoever. Advanced candlestick analysis, this is not that basic doji equals reversal stuff you may have seen elsewhere. Specifically: eurusd, usdchf, gbpusd, usdjpy, eurjpy, euraud, cadjpy, nzdusd, audnzd, audjpy, nzdjpy, gbpjpy, usdcad, audusd, eurgbp, eurchf, gbpchf, gbpaud, eurcad, chfjpy, audcad, eurnzd, nzdchf, nzdcad, audchf, gbpcad, cadchf, gbpnzd. It has now expanded beyond just reversals, but reversal trading is where it all started. You can read more about Forex Mastermind here. Above each chart is a brief explanation of why I drew the levels where I did.