Short Trade....Triple Top? I think it may be a bit late to do this however I have been thinking about shorting the AUDUSD all morning. I think that it is still a good short and you can still make a further 40-50 pips. I would looking to get in at around 0.87900 (if it comes back). If it doesn't then afraid this position may be too late. As I wrote this...
78.6, 61.8 fibs, stop run, ADR (-12), S2 (-10), M15 oversold, 50 level Sorry about the chart, If you go to your 15M and hourly you can see my entry more clearly. Still getting used to this website! GLGT.
Structure Trend continuation (price is making new structure low) Major Support line is broken
Purely a technical setup that I am testing. NOT TRADING IT. Its too easy to make tech setups look pretty. But looks count for nothing in this game, especially when their depth is less than 50 points. I will watch and see.
USDJPY for a short position following a trend and when the channel pinches close looks for a break down for a small profit.
I see a nice quick buying opportunity for the USDCAD for a nice quick profit.
The USDCAD I expect to bounce off the strong line of support and have a nice LONG bounce day trade. The STOCH is also strongly in the oversold position heading up.
AUDJPY should be rising and provide a nice scalp. I actually got into the trade a bar earlier but I wasn't able to publish the idea. I still believe you can get in for a nice scalp position as Stoch is heading up as well as bounce off the trend support.
The AUDUSD is forming the right shoulder as we speak. I am going to make a small quick play on the AUDUSD LONG until it finishin the formation of the shoulder. Then I will SHORT it until we get to the support line deciding if we keep going down or rebound to new highs.
Bounced off long trend of support and will head back up to next resistance spot! Plus stoch is hovering around oversold and looked to be reboudning soon.
Testing support for the second time and looks to be rebounding up and heading in the other direction for a nice scalp. The Stoch is hovering around the oversold position suggestion a nice LONG scalping opportunity.
GBPAUD bounces up the overall trend line that's going in an upward slope.
The EURJPY is locked in a strong channel at the moment but watch for it to break the channel and head strong in the up or down position once the channel is broke. You can do a nice scalp play on the micro down and up trends.
Going to continue the strong down trend until hitting a hard support line at 1.06900. I personally will get in for a day trade but will close order shortly before the support line and watch from there.
Following the main channel down causing micro trends going up and down. with the macd heading down long range but crossing up short term. Plus the Stoch is heading up from the last Low temporarily back up to hit a new Low High. so for a day trade I would do a LONG position on EURUSD for a nice scalp and then play the channel until we see a break.