-GBPCHF has been ranging to and from a narrowed Support and Resistance level. Key driving force brexit is at calming pace allowing pair to move predictable. Pair may go some more down before bouncing off the support.
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-EURAUD is at potential support level as gains in the pair seems diminishing, the pair looks to further the trend continuation downwards in response to a rejection of a potential breakout through the resistance level. Look for further highlighted support levels in the chart as targets.
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AUDNZD has finally hit support after we followed the price up to the previous high and took profit.
Looking at the daily and weekly candles, it looks like a clear rejection is present and that the price will continue...
Proving to look like a nice trade. We've seen price close above the Daily 200 EMA and slowly form an ascending triangle which is usually a bullish move in the market. Currently waiting for a Daily candle to close above the triangle resistance to look for a long position
EURCHF is breaking through the up-channel and the Ichimoku cloud. As mentioned yesterday in the YouTube video, I was waiting for this kind of situation to open a short position. I couldn't get a great risk to reward ratio because I want to place the stop loss above the cloud and the take profit based on the measured move. Still a good opportunity.
I know, I know. You are not very happy about the 1:1.9 risk to reward ratio :)
I want to start the analysis from there. The risk to reward ratio is not very appealing and we usually trade with a ratio that is at least 1:2.
The reason I still like this trade is that the down-channel is very steep, this offers the possibility to easily adjust the stop loss and the...
over night is a bit long but inside yesterdays action so consolidation until the red zone breaks. A bit of a gap close would not be surprising but this market has been unbelievably strong and could continue.
Will be looking for impulsive moves to be able to take action against, without any type of directional commitment will probably sit on my hands.
Well, this pair was an interesting one. It kept going up and didn't stop until it all the BULL TPs last week.
So I am looking for a bit of a retracement some more and then another try at the monthly SR level to see if it can breakthrough.
Starting from 0.90314
From the current...
We are currently in a big range according to the weekly.
But thanks to the big boost from news week, we could possibly bust out this week -- as long as we stay bullish.
Since we had a big impulse move Friday, we should have some pullback before continuing up.
With price beginning at consolidation, we should prepare for a big impulse move again this week too....
Total respect of the downward trajectory since last week. With AUD news coming in a few hours and again tomorrow, this short may last to the weekly SR at 0.88245 -- if it makes it there.
Will keep the bull tps in place for now. I'll just add a few tps for the reverse just in case the news is in AUD favor.
Been in a ginormous range for a good while.
Had a breakout from a small wedge within it, but that doesn't guarantee we're out of the woods yet.
So enjoy the range trading for now.
And yes, I did put bear tps in case the consolidation breakout heads south.
when break out of the range...