We readily achieved our long target; however, the price action was damn swift that didnt allow to enter at our anticipated figure as we didnt use pending order. Now the price has reached the daily trendline resistance, the trendline is lower one while the same figure appears as of upper trendline that formed a wedge which was earlier broken. We believe that the...
The pair has surged up through a strong bullish impulse and our first recommendation is to buy the pair on pullback around 6900 while targeting 7030. From there we anticipate to trade the CD leg of Gartley Pattern which is our main trade for the pair. We expect to enter short trade at 7030 with stop above double top and targeting 6500 as our final target. RRR is...
After oscillating between 6700 and 6770, we anticipate a bullish breakout of the range due to squeezed triangular patterns simultaneously found on the chart. We have two consecutive doji candles and price rejection from 6696 which indicates more of upward strength. Moreover, the seasonal USD strength seen in month of May is also pausing by the end of month and may...
Upon clearing the dynamic resistance, the pair may stretch gains towards 6843 while the upside remains limited. However daily closing below 6800 will drain the gains towards 6730 and further lower.
The price has been rejected thrice from lower TL rendering it a strong support; hence any break upside will be a clear bullish indication.
After hawkish FOMC, the pair formed h4 bearish candle with small body and long wick followed by another bearish candle (could be called pinbar) and the price has reached the previously formed double top i.e. 1.4565 as well. If the price sustains above 14565 then this could be the mere correction after strong bullish trend. However, if th price breaches and forms...
Short trade potential seen at any pullback around 0.7220 targeting 0.7155...Stop could be 20 pips above the entry ! this would render the trade with 3 RRR.
Double top and 30m pinbar conform to a nice resistance zone. The pair has already done 150 pips on the upside. We expect a mild retracement from here as the upside move has been completed and average daily range has exceeded 143%. We expect downside from here upto 1.4491
Multiple trednlines show us potential support/resistance. We expect breakout of this falling wedge which will provide long opportunity. However, NFP can be catalyst for this trade. Anything below 0.9400 will yield more shorts on its way.
We have a bearish channel on daily chart which serves as an intermediate resistance while outer trendline + Fibbo 23.6% and support turned resistance are make a wonderful confluence. And above all, it's psychological barrier being 1.2995. So this zone provides us high reward and low risk short trade opportunity. However, trade with caution as high volume and some...
We will observe breakout on either side as it is a rock solid support and can provide high R/R on either side.
NZDUSD is at d1 resistance turned support, 200 sma in h4 chart and at resistance on multiple TFs. We would like to observe price action and trade the breakout. We are short biased because of broken trendline on d1 and 20 DMA well above the price.
Gold is posing short selling opportunity due to an oversold territory, fibbo ext zone and above all a strong psychological barrier of 1300. Risk/Reward is around 4 for the trade. However prudence is required to manage the tp and position.
Long Setup based on d1 bullish candle pattern and strong support zone. We prefer to go long on any dip around 0.9500 with stop around 0.9440
As we see inverted pinbar candle on d1 chart, we remain short biased as long as 1.1623 is held on the upside. However there is a trendline support and psychological barrier at 1.15 but still we favor to go short on any upside between 1.1500-1.1550 and we target deep downside till the lower trendline. This assure our risk/reward to be around 6. Happy Trading! :)
AUDUSD after rate cut has consolidated and corrected from the deep downward movement. At the time of writing it's 0.7626 and we can foresee a strong dynamic resistance/confluence zone at 0.7635 which is short term figure to enter shorts. Stop area is 0.7656 and tp is prudence based; however first probability is 0.7600
On the weekly chart, we can see the confluence zone around 105 due to the previous low and rising point, 786 Fibbo and 200 sma as well. We can enter long in that area with a tight stop and for higher high targets. NFP is the limelight event for the week and it can act as a catalyst for the trade.
Based on trendline support, psychological barrier and price action, we prefer to go long on the pair for 50 pips with risk of 10-20 pips only.