While I was doing my daily analysis, I noticed a good spinning top example I thought to share with you. I missed the trade unfortunately.
In the above picture, you can see EUR/NZD on daily time frame. If you noticed, there are two coloured lines on the chart. One is green the other is brown. I use theses different coloured lines to identify the support / resistance on different time frames. I use Green colour line to draw support / resistance on daily, blue on weekly and brown on monthly time frames. You can use your own choice but remember which colour you use for particular time frame. Now in the above example you can see a green coloured resistance line on daily time frame and there you see a beautiful spinning top giving us a reversal signal. You can see the very next momentum candle and you are sure it was a winning trade.
Today's Analysis:
CAD-CHF Daily & Weekly Charts:
In the above to pictures, you can see CAD/CHF on weekly & daily charts respectively. It is very clear it is trying to break the support line. We are going to watch the charts. As on today we don't have any trade on this pair.
GBP/JPY Monthly Chart:
If you look at the above picture GBP/JPY on monthly time frame, you can see that the price has found good support at this level. Watch this pair for a good reversal.
USD/CHF Daily chart:
In the above picture USD/CHF on daily time frame . You can see that the price is trying to test the support line. Please watch this pair for a reversal on both daily & weekly charts.
NZD/CHF Weekly chart:
In the above chart NZD/CHF on weekly time frame. This pair trying the test the support on weekly chart.
Update on Yesterday's Analysis:
AUD/USD trade didn't trigger yet. USD/CAD trade is in positive side. I am not going to close it as this trade I placed based on weekly chart. So to close 50% trade I must wait for the weekly candle to close.
Good luck.
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