EURAUD is approaching a support area shown in the chart below.
Author: tradingsossos
Can you still remember why you started trading? Was it because you wanted to quit your job, because it sounded like the ultimate side hustle, the potential freedom it offers, or whatever benefits come with having lots and lots of money?
This past week we’ve seen big and fast moves across many forex currency pairs. This also caused many important daily support and resistance levels to be broken.
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The Rectangle Pattern
In this post I’m covering the rectangle, another popular chart pattern used in technical analysis. The rectangle (also known as a trading range or box) can be a continuation or a reversal chart pattern as you will see shortly.
One of the charts I’m looking at for this coming week is that of NZDJPY. Refer to the chart below for the following discussion.
In this week’s post I’m focussing on GBPUSD. This post is more of an exercise for those interested in trading support and resistance.
In this post I’m discussing a support zone I’m watching in AUDNZD. See chart below for the discussion that follows.
Always remember that the moment you enter a trade, you are risking money. Keep that in mind whenever you are putting on a new position. You are risking real money. So, are you going to risk big or are you going to risk small?
I realized that I scrolled through the same charts more than once looking for potential trade setups over the weekend. This was a clear message to me that there just wasn’t any.
In today’s post I just want give a quick update and discuss some of the charts I posted over the last couple of weeks.