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Sam@ezeetrader.com

25 Comments

  1. Nick Jones-Reply
    February 27, 2019 at 7:38 am

    Regarding the channel. Obviously it can go either way, but if it was to break out of the channel I would want to see it pullback & retest the channel & catch the move down with momentum. I would also be weary of a fake-out due to the bullish candles looking more impulsive than the bearish candles. I would also have a trend line on the current move down & wait until we break through the trend first & again pulling back to it before continuing upwards.

  2. Danny-Reply
    February 27, 2019 at 7:44 am

    The markets provided some context so now I am identifying the content ie the types of bars developing, potential formations, the percentages are in favor of price staying in the range although price does like to break up channels to the downside so bearing this in mind. I would still need signals and some confluences before entering a trade either long or short.

  3. Cliff Hughes-Reply
    February 27, 2019 at 8:08 am

    Everytime the bottom of the channel is tested it is for a slightly longer period of time so my inclination would be for a break to the downside,

  4. Richard-Reply
    February 27, 2019 at 8:08 am

    Gut feeling was up, but that attempted break of the channel floor could be an indication that price will try to do it again.

  5. Paul Young-Reply
    February 27, 2019 at 9:40 am

    Paul
    This is not what I expect to happen, wait for the markets to tell you what is going to happen then respond to that.

  6. Rosemary ODroma-Reply
    February 27, 2019 at 10:29 am

    Looks like a bit of handrailing on the lower trendline and because it has had several tests, I would see it as potential for a breakdown.

  7. Rosemary-Reply
    February 27, 2019 at 10:30 am

    Looks like a bit of handrailing on the lower trendline and because it has had several tests, I would see it as potential for a breakdown.

  8. Krzysztof-Reply
    February 27, 2019 at 11:03 am

    No opinion until I see the chart on higher time frame.

  9. Edward-Reply
    February 27, 2019 at 11:08 am

    I would hedge my bet and limit enter a few pips below the bottom line of the chanel.

  10. Edward-Reply
    February 27, 2019 at 11:11 am

    To complete the above I would expect it to go down

  11. Steve-Reply
    February 27, 2019 at 11:11 am

    I know which chart this is (don’t worry I’ll keep it to myself!).
    At first glance it looks weak to me – so I think the probability of a downside break looks slightly higher.
    On the other hand there is also a steep downward channel dating back to the last attempted test of the large upper channel – so potentially that could break to the upside if the lower channel holds this time.

  12. Phill-Reply
    February 27, 2019 at 11:25 am

    The more recent lower highs and lower lows on the hourly would suggest a break to the downside, yet if you were to move out to the 4hour charts it would show higher highs, higher lows. So my bias would be to the up side.

  13. Geoff-Reply
    February 27, 2019 at 11:26 am

    A rising channel. Multiple tests of the lower band etc. If I was a betting man I’d go for a break to the downside.

  14. Catherine Smith-Reply
    February 27, 2019 at 11:39 am

    Okay, I’m a total beginner, but my impression was that overall the pattern is making higher highs and higher lows, and that the small reversion back towards the support level was an aberration. So, I’d expect it to go back up. However, I’m usually wrong! Please let us know the outcome!

  15. Andrew Dickson-Reply
    February 27, 2019 at 11:40 am

    Based purely on price action of higher highs and higher lows within the green channel lines, there is no reason to think that there will be a break down below the bottom trend line. But looking closer at the last run down from the previous channel high, there is a trend line between the last high at the top of the channel and the current price. So it would be good to draw that trend line down and see how the next few bars play out and if there is support from the bottom green channel line and that recent trend line down is broken, then you could go have confidence to go long and place a stop below the local low. If the recent down trend line keeps the price down and causes price to break down below the bottom green channel line, then you could go short and place a stop above the local high. Or you could just subscribe to ezeetraders app and wait for Charlie to tell us what to do! ;o)

  16. Andy Fife-Reply
    February 27, 2019 at 3:55 pm

    the trend is your friend, i’m a buyer, certainly a better R:R

  17. Jacob Falborg Nordström-Reply
    February 27, 2019 at 5:37 pm

    Trading is not a guessing game – it’s a probability game. Makes more sense talking about risk, reward and probability.
    Also, I don’t see why you reject that one can make 1.2 bil.. dollars without adressing his strategy, risk, trading timeframe, skills etc. It’s a total outlier making 1,2 bil., I know,, but stating that it’s impossible is simply not serious from my view. Big traders and big firms make billions and they certainly would face the same challenges. There are a lot of cases of traders that has made in the hundreds.

    • Charlie Burton-Reply
      February 27, 2019 at 6:32 pm

      Maybe you don’t understand how the markets work but from a volume perspective it’s not possible to turn a small amount into 1.2 billion. Sure if you have 10 billion of course you can make 10% on it but not the other way around I’m afraid. Position sizing makes it impossible to have that kind of growth.

  18. Davy Van Campenhout-Reply
    February 27, 2019 at 8:28 pm

    Hey Charlie if I want to tell you ,i have to kill you.
    I think its up.

  19. Steve Mccarron-Reply
    February 27, 2019 at 9:16 pm

    Considering the trend and the possibility that the price was deliberately pushed down to trigger stops I would look to long this market.

  20. Ivan-Reply
    February 27, 2019 at 9:38 pm

    I would short on the break of the channel floor

  21. \charles des Tombe-Reply
    February 28, 2019 at 5:38 am

    I would wait for a bit more confirmation for an up move.It is an up trend and price is at the bottom trend line so on a smaller time frame wait for a higher high and higher low.Go long

  22. mark hodgson-Reply
    February 28, 2019 at 4:09 pm

    i’d be going long with a stop below previous low and look for profit target 60% into the channel

  23. David Rawcliffe-Reply
    March 6, 2019 at 12:46 pm

    i did leave a comment that disproved your statement but you chose not to show it ???

    • Charlie Burton-Reply
      March 6, 2019 at 12:48 pm

      What comment?

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