THE NAIVE TRADER

On the 21st I was looking at holding a short position and believed the dip would continue, what is interesting is that after a slight gain we have seen the drawback and the 109.835 resistance position is looking more powerful than I first believed. We see the currency pair is fluctuating and holding quite happily in the mid-range of the 108.670 - 109.835 resistant area's. This is interesting as the RSI and the BB don't hint at much dipping or diving at the moment. Volume has fallen a little recently and although buying is continue I don't know if there is sufficient volume to help the pair gain momentum to break the higher resistance till at least next week.  Peace. TradingView, 2019.

Bitcoin is something I have stated before having an interest in and that of course continues, but trying to understand trading it is tough. The market is so volatile and thus there is huge opportunity but of course huge risk. I feel I stand more of an investor for this market, my trading skills no where near up to scratch to play this game! But anyway, I thought I would have a look at what is going on, not saying I will enter but just looking at where short term the BTC/USD market is moving towards. I am loving the horizontals atm, as they are just so useful when comprehending where potential resistance regions are within the market. The sentiment online is continuing to be quite bearish with a number of people highlighting the lack of breakouts to either fall below the 3k or above the 5k in the recent weeks. This I believe shows that the market is quite flat and thus maybe big cheeses are beginning to accumulate as the market continues to hold within in the 3550-3650 region. I...

So, thought I would have a little gander at the Pound. Comparing this to the USD for entry on a weekly basis does looking precarious but interesting, my knowledge of the Ichimoku cloud is weak but I believe that trading within it is fearless due to the volatility. Thus creating a slightly fast passed potential movement. I reckon the resistance we are looking at for the upper is 1.30 for the next week or so. Yet I don't know if this is the direction we will be seeing, the RSI is highlighting the market is returning from an overbought position, and looking to continue downwards. This potential sell off is further illustrated by the increasing sell volume within the market. Therefore I reckon next potential bounce point/resistance area is the 1.26789 point because of previous resistance areas that can be seen over the last few months. I wouldn't bother entering here personally because of the potential flip and lack of real opportunity but high risk. I will be looking to wait ...

Back and a new year and once again I have been slacking for the last month due to exams and laziness of course. But back on and hopefully this time I can keep some consistency. Over the Christmas period we have seen exciting excessive movement in the US forex market, with a heavy dip falling substantially from the upward trend we have been seeing for the majority of 2018. Looking at the dip its something which does look quite surprising and I reckon the inability for Trump to get his way leading to the longest lockdown in US history taking place has for sure affected confidence in the US dollar. The fall did test the yearly low for a minute, the 104 region, pretty damn impressive but did retract almost straight away. This position does look of interest, I have drawn in where I reckon the next resistance level is, the top end of 109. I believe this looks realistic as shown by the 3 arrows highlighting what I reckon are resistance levels which have been hit over the last 8 mont...