Classic support and resistance setup. Now that the news is out of the way the markets can resume as per normal (man I dont like the news!) Pins to resistance (and 21 ema) >> down trend >> so I am selling at market price 1.67450 I am targeting previous support @ 1.66322 and placing my stop above the highs (using the 21 ema as a dynamic level for SL) @...
FX:USDCAD All time frames are indicative of the bulls being in control (H4, D1, W1) so I am looking to buy. *Price has just started pulling away from the 1.331368 level where a candle pinned the support and printing a bullish engulfing pattern (buy signal) Buy order opened @ market price 1.33599 with SL below lows @ 1.32932 and TP at resistance @...
FX:NZDCAD Bull rally trend line broken, price had pulled back up and re tested the level as resistance but I missed the entry. We now have a structure that is offering a second opportunity to short. Sell @ market price 0.90811 SL @ 0.92002 TP @ 0.89497
FX:USDJPY Price has been ranging between the 107 and 114 levels for some time now. * Price is around support plus a buy signal has printed (doji, indicating indecision = bears may be out of steam failing to push price below support) * The weekly timeframe indicates a buy, so does D1 and H4 when looking at the levels marked and how price is reacting So I am...
FX:USDZAR I have been waiting to see how price will react to the 14.00 level. Now a candle has pinned the level signalling the bears. Entered a short at market price @13.93618 with: *Stop loss above the wick where I feel this setup would become invalidated @ 14.10325 *Take profit placed at the support of the swing low to the left @ 13.65440 Don't bet the...
FOREXCOM:XAUUSD The 1300 level has been holding so with a bearish harami printing at the resistance level I am happy to short this pair: Short at market price @ 1292.71 with *Stop loss above the highs where I will deem this setup invalidated @ 1305.00 *Take profit provisionally at 1259 where the 200ema is currently positioned ** Take note - I have marked...
FX:USDJPY Price has just pulled back above the long term trend line drawn (on H4 and D1 tf) following the flash crash from last week. Note the marked bullish engulfing candle pattern printed on support signalling the potential move higher. I have opened a buy order at market price 109.042 with *Stop loss below the support where I feel that the setup would...
FX:EURUSD Great breakout candle form the triangle pattern marked up! Shorting @ market price 1.12921 Stop loss just above the recent high at 1.13708 Take profit as projected by the symmetrical triangle @ 1.10388 Don't bet the farm, always exercise good risk management
FX:EURAUD Mario Draghi's comments earlier during the press conference for the ECB Monetary Policy were mostly negative in terms of outlook. This should affect the euro accordingly so I will begin to build euro exposure... 1. Up-trend line broken 2. Retest of the trend line from the underside (can be seen clearly on a line chart) 3. Bearish engulfing candle...
FX:AUDUSD What a beautiful drop after the double top formed at the resistance level - power! Price has reached the support level I marked up and the current candle is printing as a hammer (still needs to close as such) - I am getting ready to go long should: 1. The current candle close to complete the candle as a hammer (buy signal) 2. It would be ideal for...
FX:USDJPY Price above 200ema = up trend Up - trend line Short term resistance broken My idea Buy @ market price 113.340 SL below low @ 112.598 TP @ previous highs 114.409