We see a clear resistance at the top, but an uptrend in general. So for me there is a lower timeframe downtrend which is built by lower lows (building now atm, I used fibonacci tool for help and we saw the first lower high at fib 61.8 level and the next lower high would be at 50.0 which is exactly now. it could move because I lower timeframes are easily...
Technical: - H4 hammer candle -> $ bulls running out of steam - There was no retest of the H4 breakout Trading: -expecting to see a quick T/P or S/L trigger on this trade. -key risk event in 3 days: NFP
FX:EURCAD EURCAD , Sell on H4. H4: - Structure: Downward - Tendency: Downward - Below resistance => Sell
Price broke an ascending channel after it hit a Price Reversal Zone. Now, we wait patiently for price to pullback to 32% and place our Stop Loss above 68.1% while is about 80 pips R:R is 1:6.
-Clear short entry @ H4 200ema + 20ema -Expect to see short take profits at 61.8 Fib level -60% of retail traders are long NZDUSD -> further slide south Trade plan: - Did not take the short side, not chasing it, instead: - Wait if 61.8 Fib will be tested - Wait to see bullish candlestick pattern -> go long (1:3 RR)
Intraday target: $1270 Long-term target: $1183
H4: candle gonna pass 200 MA it's a good signal to change trend or reverse to uptrend .
H4 chart show to wait till touch the resistance suggest to > buy stop and buy limit GL
Hi together EURCHF give us a good option to go short on the 4H chart. After an double top and a break of the bullish trendchanal we have to wait for a breakout to the downside. The RSI of the last 2 trading weeks looks good to for a short entry on lower timeframe with low risk. I wish you a good trading week.
AUD/JPY has just finished forming a bullish cypher pattern. The trade details are as follows: Entry @ 79.803 Stop-loss @ 78.566 TP1 @ 81.144 TP2 @ 82.162 Remember to always practice risk management.
After some time of hiatus, I am back. This week I will be watching EURUSD to see if price will go how I depicted in the chart. If it does, I will be entering a short after break & retest of the blue trendline, targeting the 61.8% of the weekly fibo. All the best traders.
Shorting based on the trade war and a pullback from the uptrend on the long run.