currently learning so please correct me
currency pair: AUD/USD
timeframes used: !hr, 4hr, 30min
Indicators: Price action
Analysis:
So in 4 hour chart it looks like the price is on its area of support and reversal might happen.... but i drew a trend line and showed a possible descending triangle
(tho it might be a false triangle and might reverse but the price will still respect the trendline untill it changes it direction.. im looking to sell and but if it shows a sign that it will go up)
... on 1 hour chart (showed above) the price is respecting its trendline so my position will be short after the candles reach the trendline...... i know there is no right or wrong analysis until the price has already made its move..... i just wanna know what infos i have missed......... so pls any thoughts?
In general. although it formed a descending triangle it might be a false signal and might go reverse..... But because the price is respecting the trend line i will open a short position everytime the candles is near or has touched the trendline i drew, I will enter my trade in 30 minutes timeframe... i wil go short until the price has break its trendline and it is showing some bullish signal.. then i will open for a long position
timeframes used: !hr, 4hr, 30min
Indicators: Price action
Analysis:
So in 4 hour chart it looks like the price is on its area of support and reversal might happen.... but i drew a trend line and showed a possible descending triangle
(tho it might be a false triangle and might reverse but the price will still respect the trendline untill it changes it direction.. im looking to sell and but if it shows a sign that it will go up)
... on 1 hour chart (showed above) the price is respecting its trendline so my position will be short after the candles reach the trendline...... i know there is no right or wrong analysis until the price has already made its move..... i just wanna know what infos i have missed......... so pls any thoughts?
In general. although it formed a descending triangle it might be a false signal and might go reverse..... But because the price is respecting the trend line i will open a short position everytime the candles is near or has touched the trendline i drew, I will enter my trade in 30 minutes timeframe... i wil go short until the price has break its trendline and it is showing some bullish signal.. then i will open for a long position
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.