drewbyfx

drewbyfx Updated 

This pair completed a set of impulse waves then broke straight through the trend line. It has take the past couple of weeks to retrace. Looking for the continued printing of bear candles on this pair. The risk to reward is looking good as well. No harm no fowl. Trade at your own risk and use proper risk management. Happy Trading!

drewbyfx

Keep an eye in this pair today. Looking for a 4 HR close above the highlighted region of old support and now resistance. At least looking for a 61.8 pullback if we get a convincing close above. Then expecting for this pair to play around back in this zone. If a 4HR does not close above convincingly then trade idea is invalid and bias and trade plan will shift...

drewbyfx Updated 

A little late to the party here but we can still manage to get about 40 pips on this pair. we came up a few hours ago from breaking that channel and price is now back at this mini zone inside the bigger weekly zone. After the 4HR I think the bulls can take this one for a little under 50 pips. The TP is at a 61.8 level. Just scalping the retracement. Trade at your...

drewbyfx Updated 

AUD/USD just broke out of a key area of resistance that it was riding for the 8 days or so and then came right back in. We broke the support and are now retesting it as the old resistance zone. This pair should be good for a short 30-40 pip grab. Just waiting for the 4HR close Trade at your own risk and use proper risk management. Happy Trading!

drewbyfx Updated 

We see this channel being formed and respected multiple times by this pair. We are looking at a big move down in the next week or so. This is the last Elliot wave in the pattern so we might see a little funny price movement but overall solid. Another inclination that this pair is moving to the downside about 250 pips is at our entry was the 61.8 entrancement zone....

drewbyfx

On this pair were looking at a 60-90 day investment timeline. We have seen the broken price level at our entry price and the slow retracement back up to retest. I am early to this move so a few things can change my long term bearish bias. One would be the continued respect of the broken trend line and the low level of support. The reason those have not shifted my...