currencytrading

Expecting price to follow the ABC pattern then break out channel and retest the 4h channel.

The US dollar showed more weakness yesterday as it fell down towards our projected 1.27 Fibonacci extension (~112) from it's previous leg down (113.6 - 112.26) and managed to bounce back up from there towards the 0.38 Fibonacci retracement level, waiting for more downside as it couldn't break it.

This is kind of a tricky trade. I am waiting to see if AUDCHF breaks the top trend line if not what i expect will happen is it will fall to the bottom trend line and break it.

Look for quick profits here, we have a rising wedge on the hourly chart, this isn't likely to be a HUGE move but I think it'll be worth our time. Not to mention I like NZD weakness set ups on a few other pairs, namely NZDJPY and GBPNZD. Pretty simple, we have two weekly pivots that haven't been touched below with a monthly pivot anticipated around .7020 ...

RR-1:2, Good Luck :-)

RR, 1:2 Good Luck :-)

R:R-1:2, Good Luck :-)

RR, 1:2 Good Luck :-)

This may look like just a simple channel/trend line break out, which it is (think "no country for old men"). What makes this a great high probability set ups is the line up of multiple missed weekly pivot points. Two ways to trade this: 1. short trend line break, have 70-80 pip stops above recent highs and target weekly pivot at 1.7520. 2. OR you can trade it ...

RR 1:2 Good Luck :-)

RR 1:2 Goodluck :-)

RR: 1:2 Good luck :-)

US DOLLAR CURRENCY INDEX FORECAST Opened short. Possible reverse high risk short. Or waiting for LONG when brake Purple line.

This pair is at a crossroads, there's been Euro weakness as well as Aud weakness which makes this tricky but the set up is too good to pass over. Above 1.4180 this gets slightly bullish but the real confirmation is above the larger trend line (falling wedge on daily chart). There's hundreds of pips if those highs don't hold. Below trend lines and in the circles ...

EUR/CAD D1 bullish channel. Great risk reward!

I posted two charts because I wanted to show how the the bigger picture is playing out and how to managed the more near term trades/entries. As you can see on the chart below, the weekly chart has a 5 year old trend line that has broken, the market closed and opened above that trend line and has pulled back to retest. The chart above shows a more near term ...

Over the next 48 hours, we may see large moves in FX. At present we have a compression of volatility (see currency strength chart). This suggests that volatility will increase over the next day or so. The trade here is: Trade in the direction of price action and hold the trade. A trend following strategy will work better than a mean reversion approach.

This one isn't the most popular pair to trade. It gave a nice quick 35 pips last night on THIS TRADE CALL and I think we could see another good push down to the weekly pivot. We have a possible head and shoulders forming, first off was the rising wedge now it's time for the right shoulder to form. One way or another I want to trade this to the weekly pivot, a ...