technical analysis

Do the Opposite – Contrarian Thinking in Technical Analysis

Algorithmic trading dominates the price action in all financial markets. In the last decades, computer programs more and more sophisticated, began replacing human trading. As computers began more reliable in time, coding reached new levels. To have an idea of how serious the algorithmic ...

Belonging to classic technical analysis patterns, wedges come in two shapes: rising and falling. The saying goes that a rising wedge is falling and a falling wedge is rising, highlighting the bearishness and bullishness of the pattern. A wedge is a terrific reversal pattern. It forms when ...

Pound Sterling / US Dollar (GBP/USD) closed yesterday with a daily shooting star candle, hence retreating from the highest level since 2009, the pair is eyeing on Britain’s inflation report for the month of January. As of this writing, cable is being traded near 1.6726. Immediate ...

Gold carried on upside movement on Monday after breaking some very critical resistance levels last week, the yellow metal is expected to take retracement from current levels, as per price action analysis. At the moment of writing in Asian session, bullion futures are being traded near $1325 an ...

Silver jumped to $20.81 an ounce on Friday after worse than expected US retail sales and jobless claims reports, the white metal is expected to resume downside movement from current levels. At the time of writing, Silver is being traded near $20.78 per ounce in Asia. Immediate hurdle can be ...

AUD/USD surged to 0.8979 yesterday after mixed US data, however we saw a rejection at 76.4% fib level as expected; the pair was closed at 0.8945 on Thursday. At the moment of writing Aussie Dollar is being traded at 0.8942 against the US Dollar in London opening session. Immediate resistance ...

USD/CHF yesterday closed in positive territory however the pair is in correction phase after hitting a crucial resistance level around 0.9075. The pair is being traded near 0.9030 at 02:27 GMT Asia. Immediate support can be seen around 0.9022 which is a confluence of 50% fib level and 100 Daily ...

Silver spiked from $19.63 to $20.28 per ounce on Thursday after disappointing employment figures released by the US labor department, white metal however gave up some gains later on and closed at $20.03. At the moment of writing in Asian session, precious metal is being traded at $20.03, ...