TrueNorthTradingFX

TrueNorthTradingFX

After breaking down Euro/Dollar, we can see we have clearly broken a monthly descending trendline and breached the 1.2000 level this week. The next current area of noise would be 1.24000 which is currently acting as resistance and as resistance since 2018. I’m sure we are going to hit that at some point over the coming months so it’s something to look out for on...

TrueNorthTradingFX

Looking to continue with the £ sell off. GBP weak across the board. We’ve seen this hold below old structure, reject ema and 61.8 fib on the LH pull back. Waiting for this 2pm BST 4hr candle close. Potential for a 1hr head and shoulder pattern for an entry if price can retrace 30 pips and give us a great RR trade. This is a trade idea and NOT a signal. All trades...

TrueNorthTradingFX Updated 

CHFJPY broke previous support and has come up to retest it and has now been giving us price action stalling under the level. There is a swing potential into 114.000 if we break the 114.700 level. I’m waiting for this 4hr 10am BST candle close to determine if there is a valid short entry. This is a trade idea and not a signal. Trade at your own risk

TrueNorthTradingFX

GJ looks set to carry on its bullish momentum after it pulled back to old structure at the back end of last week. We have rejected the old structure and the 1h time frame has shown us bullish price action in and around the area we are looking to long from. The weekly candle has finished as a inverse bullish hammer so a weekly wick fill does look possible....

TrueNorthTradingFX

AUD is on the verge of coming under extreme pressure from the strongholds in the market right now. The currencies backed by commodity sectors are super strong economically and technically they are lining up for another rally to the short side. Technically we have numerous confluences to short, ranging from trendline breaks to retest of key areas and technical...

TrueNorthTradingFX

I’m looking at shorting this pair back to neckline to complete head and shoulder sequence. We have seen structure with LL and LH. Now looking to create that new LL from the current LH. We’ve had a 4hr bearish engulfing giving me price action for a short entry.

TrueNorthTradingFX

EURUSD is looking like it has potential to short it just needs some bearish price action to take place as it has been quite a bullish last 2 4 hour candles. Once we see sellers come into the market then I will look into short trades.

TrueNorthTradingFX

EURCAD showing signs of slowing underneath structured area after a break and retest. Want to see solid bearish price action before shorting.

TrueNorthTradingFX

CADCHF nearing pullback completion we just await rejection in blue highlighted zone to give us bullish price action as we have broken trend structure giving us bias to long.

TrueNorthTradingFX

Waiting to see if price comes up to blue area for a retest and reject giving us bearish price action and the opportunity at taking a short trade. Aussie looking in correction mode on most pairs.

TrueNorthTradingFX

Looking at taking a long trade if we reject this current area. We have broken trend and structure and are waiting to see if we can move higher after completion of this correction.

TrueNorthTradingFX

Awaiting a bigger pullback into 91500 before looking for price action to take a long trade from that area. We have already had a new impulse today and are awaiting completion of this correction before taking the trade. Targeting daily 61.8 fib region.

TrueNorthTradingFX

Awaiting bearish price action of current structure retest after we have broken out of trend and key support. This looks more favourable than AUDUSD. We look like we have motion to make nice waves to the downside.

TrueNorthTradingFX

Seeing a retest of old structure for a short trade. If we get bearish price action around this area, I will look to short. Option 2 is we come higher for a test of the broken trendline and make a right shoulder with the chance of a short from there.

TrueNorthTradingFX

Looking to see a retest of old support and some rejection then off that area to support the break of 4hr ascending trendline. Targeting extended wick region.

TrueNorthTradingFX

Like GCHF my bias for this pair is downside too. We have seen price stall at 61.8 fib region and then break below possible structure retest to void the potential of it going long. We could be in the phase of a new impulsive wave.

TrueNorthTradingFX

We have seen price come up to the 61.8 region stall with some nice price action then get countered by a huge bullish engulfing only to then stall with more doji candles on 61.8 region giving me the impression the bullish candle was a fake out to bring buyers in and the real move is lower.

TrueNorthTradingFX

we are approaching an area 1.76500, that once broken gives us a huge opportunity to buy EURNZD due to there being no structure insight other than 1.79600. We need a solid close of 76500 and then wait to get a retest before looking for bullish price action to take a long trade.