Price action is experiencing a downtrend momentum as correction, with MACD signaling a diminish bullish bias and about to form a sell signal for confirmation of short-term downtrend. Expecting price action to correct and get a rejection from previous resistance level to trigger a long order capturing the forthcoming bullishness, allowing a decent R:R towards the...
Price action trading with a consolidation pattern, price compression with strong rejection from the support level. MACD showing diminished bearish momentum, expecting the breakout from the descending trendline to capture a forthcoming uptrend with a long setup The order: Type: buy-stop. S/L: 78 pips - R:R | 1:2 T/P: target next resistance level
A perfect breakout of resistance, a pefect pullnack to resistance that is now support, a classic textbook example to now go up!
Yesterday the order got triggered. After reaching a certain level, half of the position was taken, and S/L moved to E/P for a free risk trade. After price correction, my S/L risk-free level was reached. However, the pair remains under bullish forces, so zooming in from H4 to H1, price structure shows a clear entry opportunity for a long setup, together with MACD...
The price is captured from the D1 timeframe, testing the support trendline in confluence with the Fibonacci level 5.0, as the price was not able to break out the mentioned area, we can expect a bullish trend. The order setup is as follow The order: Type: buy-stop. S/L: 64 pips - R:R | 1:2 T/P: aiming towards a previous consolidation zone.
After a deep correction suffered by this pair, price action was able to find rejection from the ascending trendline, in confluence with the Fib level 5.0 from the realm of D1. Now in a closer look from H4 price, maybe currently forming a bearish pin bar signaling rejection from buyers, the bullishness in the pair could be confirmed by the MACD divergence and...
As price action didn't trigger the buy-stop order, it somehow managed to break the fundamental support level for its bearishness continuation. A short entry is played. Short entry as sell-stop order with the entry price few pips bellow the fundamental support level (neck) Price in downtrend The order: Type: sell-stop. S/L: 70 pips - R:R | 1:2 - T/P: aiming...
With the price action in consolidation bouncing from a strong support level, not only in H4 but also against the Fibonacci level 50 from D1, we could expect a bullish breakout. To capture this uptrend continuation, a long entry is placed as a buy-stop, with an E/L that allows enough buffer for price action to move with freedom. Although the long setup is...
Trade Idea: This pair is in an overall downtrend, so my bias is favouring sells than buys. I'm looking for a break of the yellow trend line (Conservative Entry) and/or a retest of the orange RSI trendline (Aggressive Entry) to enter a sell towards the projected TPs. Technical Analysis: * This pair has break the short-term support now resistance zone, and its...
Wait for the price to come back to the 61.8 level, Confirm the bullish price from price action. Good Luck!
Our forecast for the next week on CADJPY ------ Trading Kitchen
Possible up move for CAD/JPY. What do you guys think?
We have a very serious support line in the weekly chart at $ 76 and CADJPY is still close to the line which means it's a good time to buy. RSI is very low Stochastic crosses lines at 20th Buy with a target of 79.2
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