The Market On The 4 Hour Chart Just Closed With A Full Body Candlestick And A Counter Trend Line Break,
This Comes After The Market Previously Broke Out of A Wedge Pattern As You Can See On The Chart.
If You Look Back On My Previous Post You Will See That The Wedge Pattern Is At A weekly Major Support Outlined On The Chart With The Green zone.
I was Already In...
GbpUsd Daily Short Idea
As we know GU has been primarily bearish on all higher time-frames
Price action recently rejected the weekly resistance around 1.25500 at the end of September
We are now looking for price action to test broken structure as well as the daily 78.6% fib level
Ideally a strong bearish pattern like an engulfing or star pattern that blows...
Gold (XAUUSD) 10/6/19
Gold Long Idea
Last week price action completed a Head & Shoulder pattern after a break of key support turned resistance around 1485.00 then quickly reversed and blew back through key resistance turning back into support.
Gold is now in a consolidation phase and is building momentum for the next explosive move. The 4hour 38.2% fib level...
NzdUsd short Idea
Still waiting on NU to reach a prz level for this week
Current price action is at the 23.6% fib level and is showing signs of bullishness on lower time-frames.
We would like to see this pair present an opportunity half way through the week. A rejection off of the 38.2% fib level as well as broken structure is what we are looking for.
Forex is the most technical market of all in which discipline is even more important, and patience is extremely necessary to be able to wait for a trend to start.
In our strategies in this market the % probability of a trade being realized is about 40 times out of 100, and the average Risk Reward is 3 times out of the loss.
On EUR/USD chart we can see a strong bullish trend start. Now we will wait to finish the price corection and consolidation around 1.10330. As you can see we are looking for a possible buy in the next hours if th price will continue the bullish trend.
Stay tuned. Regards RoTradeAlerts!
GBP/USD is retesting the 1.20200 zone again, as you know from our past analytics the price was rejected from this support zone strongly in the past 2016.10.06, 2017.01.17, 2017.01.09.
So if the price will confirm this zone 1.20200 we will look forward for a possible buy position. If the price will break this zone we will come back with...
As you can see there are more than 3 touches at this trend line. So I call it as a strong trend line.
But I believe price level will fall on to the trend line and will test it. You can wait until then or you can enter and put the Stop Loss below the trend line
Best of luck guys
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USD/CAD breaks succsessful the triangle, so now we will wait to finish the pullback and to confirm our possible sell zone.
We set up one possible sell zone.
If the price will grow back into the triangle we will update our analytics and let you now with all the new possible sell or buy zone.
Stay tuned for more! Regards RoTradeAlerts!
AUD/NZD has reached a strong resistance level on 1.06200. As you can see in the past the price was strong rejected on this level this year on: 08.01.2019, 22.01.2019, 25.04.2019, 08.05.2019, 31.05.2019, 21.08.2019.
We set up a possible sell zone around 1.06150. If the price will break this resistance zone we will update our analytics and let you...
EUR/USD has reached on the daily chart the 1.10600 support level .We can see a strong buy zone at this level in the past on: 19.01.2015, 18.09.2015, 23.05.2016, 20.06.2017, 17.04.2019, 21.05.2019.
Now we are located in the same level and in the next days we expect a possible buy.
We set up 1 possible buy zone on 1.10600
Stay tunned for more!...
As you can see on the EUR/JPY chart, the price tried to make a bearish break at the 117.550 support zone. After a 90 pip fall the price went up over 117.550, which shows us that the sell power is decreasing. We are looking for a possible bullish breakout, after this breakout we will wait the price correction, and the new support zone retest.
As you can see on USD/CAD chart is a possible uptrend. The triangle pattern formation is a sign of the price consolidation, now we wait for a breakout on this triangle. there are 2 possibilities: - an uptrend breakout, on this breakout we will look for a buy after the breakout it's done and we have the retest and confirmation of the new support...