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high-test-bar

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JKibbler JKibbler AUDCAD, D, Long
AUDCAD: POSSIBLE 4:1 RISK/REWARD ON AUDCAD
82 0 2
AUDCAD, D Long
POSSIBLE 4:1 RISK/REWARD ON AUDCAD

I had this currency pair on my watch list for this week after analysing the WEEKLY chart, and whilst looking through the DAILY time frame I spotted a potential long trade. I spotted a pattern I have just started to test out, you have 3 bars involved. In this instance we see a good pullback to previous structure, the first bar looks like a potential low test bar, ...

amanpaulbhogal amanpaulbhogal EURGBP, D, Short
EURGBP: Range bound based short set up on EUR/GBP
78 0 3
EURGBP, D Short
Range bound based short set up on EUR/GBP

EUR/GBP has been in a range since March 2015. Another retest of ~0.7400 at the top of the range and a high test close with oscillator bearish divergence offers a short position in the ranging pattern possibly reaching the bottom of the range at ~0.7000. entry - below low of high test bar stop loss - above high of high test bar target - bottom of the range/support ...

amanpaulbhogal amanpaulbhogal USDSGD, D, Short
USDSGD: USD/SGD bearish divergence
62 0 1
USDSGD, D Short
USD/SGD bearish divergence

USD/SGD exhibits signs of bearish oscillator divergence as confirmed between price action and the Stochastic and RSI indicators. Price closes the day with a high test bar below a level where resistance is present. entry - below low of high test bar stop loss - above high of high test bar target - previous low

amanpaulbhogal amanpaulbhogal NZDUSD, D, Short
NZDUSD: Short Kiwi
121 0 4
NZDUSD, D Short
Short Kiwi

Reasons to short USD/NZD: - high test bar close - 20 ema rejection and close below - resistance (~6700) - downward trend line rejection (third bounce) - 0.786 Fibonacci level rejection and close below - Stochastic and RSI hidden bearish divergence entry - below low of high test bar stop loss - above high of high test bar target - previous swing low or lower

amanpaulbhogal amanpaulbhogal USDCAD, D, Short
USDCAD: Divergence, again, on USD/CAD
163 0 5
USDCAD, D Short
Divergence, again, on USD/CAD

Although in a healthy uptrend, USDCAD has run into resistance at ~1.3070 which happens to be a price level on the weekly chart that has previously been tested (as support in April 2004 and resistance in March 2009). Price closed below this level on Friday as a high test bar. Coupled with bearish divergence on the Stochastic and RSI indicator a price action ...

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