Structure breakouts indicate an imbalance and as traders we need to understand the equilibrium of the supply and demand of currencies. Breakouts are high probability and are a great way to profit if managed with an edge. SHORT BIAS = FX_IDC:AUDJPY "Successful Trading Is 20% Skill and 80% Mindset" Rodz
Greetings traders! Put a short order on this pair as it could bounce of the 20 EMA and trendline. Doji candlestick and MACD divergence confirm high probability of the downtrend continuing its run toward the 1.4000 support area. Hope you liked this idea, thanks for the support and good luck!
As you can see , we need more price action to show us more clean direction.
I have a bar counter indicator I use and 8/9 bars is normally the max before some sort of change, if only for 1 bar. USDCAD now at that 9 bar level but we all know why. Also noticed the harmonic move at this level too. Might see 1.45 before any move the other way but it's worth keeping an eye on.
I see a great opportunity to go short on FX:NZDUSD . We have a very nice triangle pattern with very interesting key confluences: 1. Price has tested the triangle resistance once more 2. Fibs 78.6-88.6 (little one) 3. Fibs 61.8 (big one) 4. Nice shooting star candle. Our targets are: 1. Next triangle support level 2. Nearest structure support 0.6290 3. Fibs...
Days ago, it attempted to go down into the trend line but it failed to pass through a support line and created to what it looks like a double bottom. After that, it broke the trend line, but it returned back to the trend making it a false alarm. Right now, it is in a place where it can break down or up. If it goes down, it will try to test the double bottom to...