This simple sketch shows the four signs you need in order to confirm a reversal. Let’s go thru this using a bullish
A break in the trend occurs. We have a break when the price closes a candle below the trendline.
The price decreases further and creates a bottom, which is lower than the previous price data inside the trendline.
We draw a horizontal support line at the swing low, which will be the trigger of our reversal confirmation.
The price then increases and tests the already broken trend as a resistance.
The retest does not have to touch the broken line. The reason for this is that the trendline must be viewed as an area and not as a single line. Furthermore, the price could even increase beyond the already broken trendline area.
The price decreases again and breaks the already established support level (red line). This is the reversal confirmation signal.
When you get this fourth signal, you have a strong reason to believe that the price will reverse direction.
30 7492 days ago
The Present and The Future 🎯
11 852 hours ago
Student @tobi.forex at home in the zone 👨🏻💻🔥
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23 13892 days ago
Arrived in London about an hour ago, ahead of the Falcon Christmas Party tomorrow night at the Gherkin 🦅
First thought when when I arrived in Euston was getting to a coffee shop and checking the charts 😂 Gotta Be Done 🤙🏼
Currently one running position, let’s see how it plays out 🤙🏼
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EURUSD Broader Bias Remains Lower
EURUSD remains biased to the downside on further corrective pullback. Support lies at the 1.1250 where a violation will aim at the 1.1200 level. A break below here will aim at the 1.1150 level. Further down, support lies at the 1.1100. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to face downside towards key support.
The market always move either up or down, which is a 50:50.
Whether your a veteran trader with years of experience or a new trader who is just starting out, anyone can have a winning trade and be on the right side of the market...
But being able to consistently on the right side of the market and to be consistently profitable is much harder to accomplish, which takes many years to master and knowing how to control your emotion and psychology within yourself is key. I have to admit that during my 14 years of equity trading career, I wasn’t consistent enough to say that I was satisfied with my trading.
After losing everything I had, being forced out of the market and hitting rock bottom has finally made me a consistent trader that I needed to be. It took me two years to get back into trading and I am truly happy to finally be back trading and do what I love, day in and day out.
I’ve learned a lot during the past couple years and know that it only made me stronger and hungrier to get back into trading and get back up stronger than ever. I can’t be happier to be trading again and excited for 2019 to come. “I TRADE BECAUSE I LOVE THIS SHIT.” I remember one of my trader buddy(you know who you are) once said I was a monster trader... I’m ready now and I’m back mentally stronger than ever! I’m coming for that paper in 2019💴💶💵💸💰💰💰🤑🤮. I can’t thank my wife enough for sticking with me through the darkest storm in my life, supporting and believing in me. Thank you babe. I’ll make it all up to you for all the sacrifices you’ve done in years to come! #외환투자#forex#forextrader#forextrading#forexlifestyle#forexprofit#forexlife#forexmoney#forextraders#forexeducation#forexmentor#forexmarket#forextrade#forexanalysis#forextraining#forexstrategy#forexchart#forexinvestment#forexdaily#forexprofits#forextips#traderlifestyle#traders#traderlife#traderforex#daytrader#fxtrader