VIDEO: www.youtube.com
Hello and good morning traders. Looking at taking a short
on the EUR/USD 4 hour time frame.
Stops and Targets are in place and following our trading
plan with our trades.
Please watch the above video for analysis.
Star Prosper
Philip Stewart
VIDEO: www.youtube.com
Hello and good morning traders, hope everyone is having
a great morning and getting ready for a big day trading.
Looking at the AUD/USD pair on the 4 hour time frame, we're
trading a bearish trend continuation trade to the downside and
with strong USD figures coming through, we're looking to line
up with a good entry point around this...
VIDEO: www.youtube.com
Please watch the above video for today's and this
weeks trades.
Best of luck today in your trades and let's keep an
eye on this bearish cypher pattern together.
Star Prosper
Philip Stewart
VIDEO: www.youtube.com
I'm terribly sorry, but we had rendering problems
within YouTube with the last video upload.
I've gone ahead and re-uploaded the video and
the audio is now fixed.
Please watch the video for our trade ideas for
the day and what we're keeping an eye on.
Star Prosper
Philip Stewart
Also looking at the EUR/CAD pair on the 4 hour
time frame, we have a potential bearish cypher
pattern to trade as well.
I've been watching this for quite some time and
we might not get a pop up into 1.40503, but IF
we do, we will have a D-LEG completion ready
to trade the EURO bearish movement.
I thought I'd still share my insights and analysis,
for those...
For the short term we are bullish. First target being 23.20. If this key level is broken then the next upside target would be 23.50. However, our primary target is on the short side of price level 22.00 then 21.50. We have a bearish formation on the weekly time frame.
Trade set up short on the breakout of the trendline, could have a safer stop loss at 1.55400. If price breaks below 1.5050 then we would look to further downside potential of 1.4900-1.4500. Being Bank holiday weekend in the UK i believe price would reach at least 1.5200 by the end of the trading week.
FACTORS OF CONFLUENCE
+ Massive Bearish Sentiment on the Weekly and Monthly charts, so with the dominant trend.
+ 38.2% Ret. + Yearly Pivot Resistance Convergence.
+ 50.0% Ret. + Monthly Pivot Resistance Convergence. (Typos on the chart, sorry.)
+ 61.8% Fibonacci Retracement (so lonely)
+ 50 + 200 EMA Converging Into the Value Area
+ Previous Support / Resistance...
The Reserve Bank of New Zealand is expected to hold rates. With the Kiwi being resilient of late, Graem Wheeler is likely going to jawbone about it being overvalued, which should give it at least some short-term drag, especially against the USD. In terms of monetary policy, the press conference might reveal whether or not a rate cut is still on the table, and if...
I'M ALREADY IN A SHORT POSITION BUT IF PRICE RETRACES UP TO MY SELL ZONE I WILL LOOK AT PRICE ACTION TO ADD IN ANOTHER POSITION AND TARGET 0.75000. I STRONGLY BELIEVE WE CAN GET TO THERE IN THE SHORT TERM BECAUSE THE LABOUR MARKET IN THE U.S KEEPS COMING OUT GOOD WHICH WILL HAVE INVESTORS/TRADERS SPECULATING A RATE HIKE AS EARLY AS JULY. ON TOP OF THAT AUD...
In trading it is important to maximize the effectiveness of your trades and EURUSD may present an excellent shorting opportunity in the week to come. Leave your comments if you have any and happy trading.
The analysis above is just my overall bias on the pair. Price has reached the bottom of the channel (also the completion of a harmonic wave) and is beginning print higher lows (indicating a possible uptrend). However, price is still struggling to break resistance (shaded grey area). I will be monitoring this pair for a LONG entry once resistance is broken. Entry...
Bearish Crab.
Parabolic Sar getting closer to reversal.
RSI is in overbought territory.
Stop Loss - 1.90964
Short Entry - 1.90556
Target 1 - 1.87811 (6.8 to 1)
Target 2 - 1.86145 (11 to 1)
