Price is currently trading at a demand region, we have to see rejections at the area of the trendline as well as the 61.8% Fibonacci region, we can expect the price to, therefore, pick up momentum and extend higher. -great risk/reward
USDCHF Short/Sell Idea waiting for a momentum candle close below 0.990 to sell this one Reason: 1- Regular Bearish Divergence on MACD (in red) 2- Wedge Pattern (in blue) 3- Resistance/Supply zone from Daily/H4 (in orange) Three confluences are enough to consider Selling USDCHF, after a break below 0.990 (in gray)
Buyer Confluence in this pair, I don't believe Sellers have the momentum and strength to reverse, at the most a retracement before continuing long. I'm waiting for the breakout of key structure.
gold just created its lower high, around a very key 61.8% fib region with daily rejections. We could see long term targets of $1480 first and then possibly $1440
For this setup we have: -Major 38.2 Fibonacci retracement. -Minor 78.6 Fibonacci retracement lining up with the major Fib. -End of major & minor channel resistance. -ABCD pattern projection to complete at the end of both channels. -Major counter-trendline resistance. Either you want to be aggressive or conservative, both scenarios offer a good risk to reward...
For this setup we have: - Major 61.8 retracement - Major 1.618 extension & projection -ABCD projection -Strong psychological round number (106.000) -Counter-trendline support -Mid Elliott Wave channel support SL: 105.300 TP1: 108.000 TP2: 108.500 TP3: 109.000
Previous trade ( idea below) Ended up with taking profit from the long and partial profit on the short but ultimately breaking even on the failure. Overall if you have been following these gold setups I was t rying to position for another long but the bulls showed too much strength and we never pulled back. What I was watching during the trade -bulls...
XAUUSD - GOLD Long/Buy Idea waiting for a momentum candle close above 1510.0 to buy this one Reason: 1- Regular Bullish Divergence on MACD 2- Channel Rejection from H4 (in green) - Trend-following setup 3- Descending Triangle Pattern (in blue) Three confluences are enough to consider Buying XAUUSD - GOLD, after a break above 1510.0 (in gray)
This is an awesome setup: 1. Resistance broken 2. Tested as support 3. Bullish engulfing bar 4. Moving average and fibonacci confluence (50%) Best way to calculate stop is where the setup is deemed invalid and the target must be at least 2x that of the risk. Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a...
Bearish continuation on UCAD. Target and current 61.8% fib projection/daily support/Weekly Uptrend support (strong confluence) strong bounce expected here over the week. 50 more pips to go on the short!
Price action analysis identified potential EUZ uptrend continuation and long opportunity. Pin bar candle trigger, confluence with; horizontal support rejection, 50% fib rejection and 21 WMA rejection.
Price action analysis identified potential EURGBP uptrend continuation and long opportunity. Bearish engulfing candle trigger, confluence with; horizontal resistance, 62% fib and 89 WMA.
ADA had recovered slightly against the BTC and approaching the next sell level. Coincidentally, one of my favorite Harmonic Pattern - the butterfly pattern completes at the same area at Point D.What I also like about this setup is the confluence it has as shown in the Red Circle. Most people will be caution to sell here thinking that a previous high or...
Price Action has presented itself a continuation of bearish momentum which is logical since we have Bearish Confluence in HTF (Higher Time-Frames). I feel like it is too late to hop onto this bearish breakout, therefore i'm speculating price to move to attractive key levels of structure. I'll be looking for bullish opportunities back to Previously Tested...
The confluence of these 3 factors signals an ideal short in an area of strong resistance: 1) Resistance 2) Trend line 3) Stochastic is in overbought level This trade provides a high risk-to-reward ratio of 1:4.1.
Price Action (Technical Analysis): Expecting price to either begin to Consolidate or Break Lower Lows. My bias on this analysis is to go long because this pair is rallied at our Monthly Support Zone. In the case that price begins to break higher highs & lows, an Ascending Pattern of some sort would be a great sign to look for a break above previous low (C Leg)...
Price has broken previous structure, created new yearly highs and now has been consolidating around the 0.91000 regions, with candlestick rejections around that support. Am expecting a further leg into the new highs to test the 0.92000 resistance.
Selling at market price 71.965 with # SL @ 72.410 and # TP @ 70.810 You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg Join me in Forex Bootcamp for live updates using the link below. Happy trading :)