Trader2099171

Trader2099171

EURUSD is still in a downtrend on higher timeframes. The trendline has been respected with a rejection of the 61.8 Fibonacci which also happens to be a nice resistance zone. I do understand that support may be formed around the 50 Fibonacci but until this structure is broken, I will only be looking for shorts. Note: analysis has been simplified for leverage.

Trader2099171 Updated 

Like many traders, I initially had a sell on USDCAD due to a rejection from the blue area which is a daily resistance level, to which the trade was closed out at breakeven. A bullish flag has formed with a breakout to the upside followed by what looks like a re-test. A clear rejection from the flag would indicate that price will be ready to test the resistance...

Trader2099171 Updated 

Double top formed and head and shoulders pattern. An impulse move to the downside can be seen with a pullback to the 61.8/71 Fibonacci along with a re-test of the trendline as resistance. The market was playing in a wedge until the last candle closed outside with now what looks like a test as resistance with the 38.2 Fibonacci along with the resistance of the...

Trader2099171 Updated 

Excellent reward : risk trade. The purple lines are the 3 targets set. Any questions or if you would like to learn how to trade message me :)

Trader2099171 Updated 

Respecting the downtrend trendline. Broke the uptrend trendline and re-tested as resistance. 4 targets set on the way to to the final TP. Excellent reward : risk. Have a look at my previous USDCAD trade to get a bigger picture of what could happen. Note: some analysis has been removed and changed for simplicity.

Trader2099171 Updated 

Head and shoulders pattern followed by a pullback to the neckline. Could touch the 61.8 Fibonacci too which will also touch the trendline or drop from its current position. 3 targets (0, -23 and -61.8). Trade to be taken only on confirmations (look at lower timeframes like the 30m and 15m). This is just an idea and not a signal. If no confirmations then no trade.

Trader2099171 Updated 

Lower lows and lower highs are being formed. The market is currently playing between two parallel lines which have a negative gradient (sloping downwards). The uptrend trendline (acting as support) has been broken and has re-tested as resistance, as well as breaking the horizontal S/R line. There is a lot of indecision with regards to Gold, but with it being under...

Trader2099171 Updated 

Trading idea for USDCAD. It has broken the trendline which dates back to early 2018. If the market respects the resistance zone then we should see a bearish movement.

Trader2099171 Updated 

Break and re-test of key S/R zone on the daily along with the matching of the 61.8 Fibonacci retracement from the recent impulse move downwards. We are looking to short this pair once we have confirmation that the zone and the trendline are respected. Caution if looking to trade this pair due to the FOMC meeting taking place this week which is known to have a...

Trader2099171 Updated 

Break of structure. The market is looking bearish but looking to pull back to around the 61.8% retracement before making its way down to the $1250 area.

Trader2099171 Updated 

Trendline has been broken. Double bottom formed. If support holds then should see bullish movement. There are three targets set with the third one being a long stretch but hopefully achievable nevertheless.

Trader2099171

The market has reached a major support zone on the daily (purple zone). A double bottom has formed before market closure for the weekend with the last candle on the hourly being a bullish engulfing, showing signs of a reversal. GBPJPY is known to open with a large market gap at times with it being likely to be opening lower than where the price closed, if it does,...

Trader2099171 Updated 

Small trade on GBPNZD. Market is respecting the trendline and it is currently at at S/R zone which matches the 50% fibonacci