Weekly Trade Ideas (03-08 November 2019)
In this Weekly Trade Ideas Video:
A top-down analysis of all currency majors: EURUSD possible bullish continuation. GBPUSD At key resistance and a possible short term correction down. USDJPY broke bullish Trend-Line and possible continuation lower if 108 got broken. USDCHF bearish continuation is expected and sell rallies is the main idea. USDCAD potential bearish continuation after printing an evening star formation on the daily time frame. Also in this video NZDUSD, AUDUSD, Gold and Crude oil.
Forex Weekly Trade Ideas videos, help the beginner traders to master reading market structure and price action. I have been trading for more than 12 years now, and as many new traders, I started by testing every single trading indicator out there.
After a while, I started to see clearly that trading with fewer indicators is much better for me. I narrowed down my indicators, to only have RSI (Relative Strength Indicator), mostly to find bullish / Bearish divergence.
Also, the Pivot Point indicator, to help me in projecting possible support and resistance levels for the upcoming day, week and monthly chart.
The third indicator I use is the simple moving average, mostly 200 but also 20 and 50 SMA, when there are the right market conditions. But those indicators, are there only to give me some confluence only, and NOT to make trading decisions based on them.
As mentioned in the video above, here is the link on how to trade the Head and Shoulders Pattern
Forex Weekly Trade Ideas (Top-Down Analysis), is uploaded each Sunday on my YouTube channel. Subscribe to PA-FX YouTube Channel and never miss a good trade idea.