Get started

Breakout-pullback

USDCHF Long Position (4hr Timeframe)• Monthly- breakout from bullish trend • Weekly- MACD about to cross and bullish engulfing candle signal bullish bias this week • Daily- Trend has crossed over 21 MA and both MA about to cross • 4 hour- potential pull back in area of resistance will look for breakout before going long • Hourly – MACD signalling bearish move which could be just the pullback will look to take position once pullback is broken • Verdict: Long bias which I will take few hours into market opening only if pull back is broken in bullish move • Fundamentals: Fundamentals: US economic data e.g. CPI
Long
by TarbzFX
NZDUSD Short Position (1Hr Timeframe)• Weekly- bearish engulfing candle which could see bearish week - Worth noting MA cross over in weekly • Daily- breakout from rising wedge however potentially see a potential ABCD pattern formation - MACD crossover signalling bearish move • 4 Hour- missed short opportunity due to NFP however looking to short pullback however be wary of both spinning tops so best to wait for market opening to see how pair moves • Hourly – MA about to crossover and will look to short once pullback is broken • Verdict – will look to short once pullback is broken. This a particularly a shorter term trade so not considering this weeks fundamentals
Short
by TarbzFX
EURUSD Short Position• Monthly- bullish movement towards resistance of channel & weekly resistance • Weekly- rising wedge & shooting star candle stick could signal bearish week • Daily – bearish engulfing 3 candles at resistance of rising wedge - Potential crossover in MACD signalling bearish move • 4 hour – trend has crossed 21 MA and there’s cross over in MACD • Hourly – pullback which has produced good sell opportunity however MACD signals bullish move - MA crossover signalling bearish move • Verdict: will look to sell once broken hourly trend and set TP at 1.16610 TP with 2:1 risk/rewards • Fundamentals: US economic data e.g. CPI
Short
by TarbzFX
EURCAD Long: Buy The Next ImpulseThere has been a short bullish impulse out of the predicted reversal zone, indicating the potential for a completed wave (c) of the correction. This setup allows for a very tight stop behind the base of the impulse. Any drop below this level will require re-evaluation. The target is set at AB=CD but may change depending on price action. If we see a strong swift impulse I may move it higher, and if the correction seems to be continuing sideways I will either take profit at market or move the TP level down toward a potential triangle boundary. Will update as the tide rolls.
Long
by glennmercer
GBP/USD Descending Triangle Sell SetupGBP/USD is moving within a descending Triangle. This Pair broke an ascending Trendline to the bottom and formed a little pullback. I expect another move to the upside (the Trendline) and then a breakout to the bottom. I'll enter a short Position after the breakout. Scenario 2 is a break to the upside, out of the descending Triangle which cancels the short setup and offers the opportunity to enter long positions. Trade safe, Daniel Likes and comments are appreciated and would keep me motivated
Short
by schoelli