Reasons for
On the 4 Hour
-We have been bearish since the trend line putting in nice big bearish candles
-We have broken our counter trend line
-We also have nice long wicks on the upside
-This shows me there is more selling pressure
On the daily
-Firstly this is a long term trade
-We can see price is down trending on the lower time frames Always go with...
Reasons for
-Firstly as we can clearly see we are in a Triangle formation
-We have had multiple bounces from the Bottom trend line which is now acting as Support
-The previous Four hour candle was a doji on the trend line
-Now this 4 hour candle stick is forming a nice big bullish candle which signifies Bullish momentum from Trend line acting as Support
-We...
Reasons For
-Firstly after bouncing of 1.6000(Our key level) we have been very bearish as you can see
-Also we have been putting in Lower Lows and Lower Highs
-We have also cleared our key level at 1.55000 and have been putting in bearish movement
-Now we are trading below 1.5500 the only smart thing to do is to sell as we can clearly see strength to the...
We can see a descending triangle here with at least 2 nice touch points on both lines.
I am looking to follow either of the two paths drawn and to enter in the green area. Profit target is based on previous structure support - there is strong structure levels in the late December 2015/early 2016 area at around 0.6740. Any movement back above the horizontal...
Reasons for
-Firstly on 4 hour chart we clearly see a down trend which has been broken
-We can also see price has broken major trend line which acted as RES
-Since we made the low of around 1.41000 we have put in Higher highs and lower high
-This signifies a possible new trend forming
-Also if we look at the Trend line acting as Support we have had our...
Reaons for
-Firstly we are forming a triangle
-We have just bounced of the trend line with a bearish engulfing
-Also a bearish hammer has been put in place
-We also tested this area a on Thursday and rejected this zone there fore i believe it will do so again
Price action leaves clue in structure :)
If we go to the daily Timeframe we can see
-Lots of long...
Stocks and Gilts rose, but prices for industrial metals and the US dollar retreated after the minutes of the US central bank’s policy meeting were released overnight.
The initial reaction from many traders and economists to the Federal Reserve’s minutes was that a December interest rate hike was now quite possible, but for some – especially the former –...
Short if GBPUSD rallies to this pivot swing low from April 2015.
Short GBPUSD 1.4560
SL above 1.4650
TP 1.4100
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Twitter @ForexPositive
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Reasons for
- We are clearly up trending
- We are putting in higher highs and lower highs
- We are getting nice swing highs and structure
- Previous 4 hour candle was a bullish hammer (Bullish candle)
- We have nice long wicks to the downside which signals more buying power
- We are above key level of 0.75000
Daily
- We put in a huge Bullish engulfing last...
Reasons for
- Clearly price is putting in lower lows and lower highs (Clear Downtrend)
- Price broke key level at 120.00 A week back so we maybe heading to next key level ?
- Price has put 3 touch on short term 4 Hour trend line
- Price put in doji the a bearish engulfing and clearly bearish candle then another bull green candle then another gearish engulfing ...
Short EURUSD around the 50% FIB retracement and prior support/resistance zone. Take profit at the green zone
Short EURUSD 1.1100-10
SL 1.1200
TP 1.0800
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www.ForexPositive.com
Twitter @ForexPositive
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Reasons for
1.Price has been stuck in box range for a few weeks now
2. 1.08000 Level is a strong level of support as the past has shown
3. Price has put in a bullish hammer and a bullish engulfing
4 .Price also put in a sign of reversal with a tweezer bottom
5. All these signs signify a reversal and possibly momentum to the upside
Reasons for
1.price has been trending up
2. price broke major RES level
3. now price came back and retested the level and put in a major bullish candle
4. price has put in a bullish engulfing taking out 8 hours of downside movement
5. price ready to make a higher high ?
Some numbers on this inverse head & shoulders (H&S).
a) tip of head is at 0.6950
b) neckline is 0.7500
c) total height of inverse H&S is thus about 550 pips
d) the projected price target for the completion of the pattern is at 0.8050.
EURGBP has not broken decisively above the neckline (in blue zone). As such, if there is a pullback towards 0.7400 support zone,...
HAPPY NEW Traders. Hope all of you had lots of fun.
Looking to buy the GBPAUD after a correction.
As a New Year gift to the trading community I will be opening my daily webinars to EVERYONE for this entire week , so starting from today 8 am NY time you are all invited to join me twice daily in my London webinar 8 am London and NY 8 am NY time .
See all of you...
Long position! Buy limit 10 lots at the price 1073.50 and second buy limit 100 lots at the price 1065.73. Both trades S/L 1060.00 & T/P 1087.00! Have a nice trades! Sincerely yours, Powerful Traders!
Following my post from yesterday, the market has now come back a little little deeper than where i said it would but it's still a valid long trade in terms of the structure trade i posted yesterday and if you're a pattern trader instead, the market has given you another alternative by forming another gartley pattern which has just completed. I'm still gonna be...
Scenario #1 Bullish AUDCAD
0.9580-0.9600 represents turning points for AUDCAD for the year 2015 since Feb. The purple arrow shows the most recent reversal, which occur in Oct 2015.
If AUDCAD retraces to this blue colored zone, look to enter long.
Long AUDCAD 0.9580-0.8600
SL below 0.9550
TP 0.9750
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www.ForexPositive.com
Twitter @ForexPositive
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