Our winning patterns for week ending 2020-10-10
Resistance
EURAUD resistance on the 1H chart. In this trade we went against trend. S-V3 is showing strong uptrend, but you can see resistance level. We waited for price to hit resistance and went short. 300 pip later, EUR broke out and went up.
Bearish 3-Drives
EURUSD Bearish 3-Drives on the 1H chart. EUR reached top on that day and S-V3 recorded that with lines being at the top of oscillator. We have pattern and confirmation from S-V3, so we go short.
Resistance
NZDUSD Resistance on the 1H chart. This trade was for advance traders. You could spot local resistance but reading S-V3 oscillator needs experience in this case. NZD was in uptrend that day, but we used temporary price weakness for our advantage and made a profit.
Bullish ABCD
USDCHF Bullish ABCD on the 1H chart. US Dollar bottomed out after long downtrend and Bearish ABCD pattern showed up on the chart. S-V3 is showing trend exhaustion. Only thing left to do is to open Buy position.
Uptrend
USDJPY Uptrend on the 1H chart. This is a marvellous example of price uptrend. USD was climbing up for few days and when most traders thought it will fall, US Dollar shoot up over 400 pips.
Downtrend
GBPUSD Downtrend on the 1H chart. Contrary to above trade, here we have downtrend. Have a look price dropping and S-V3 hovering on the bottom of oscillator. Then smaller line goes up and extends gap on indicator. This is a good sign of a temporary brake on the market. I’m saying temporary, as a few hours later price keeps dropping.
