EURNZD support reversewe see that EurNzd has broken from its flag pattern and has come down to its support zone. Strong buy with a good RRR having SL just under a previous low. (Look for a retest back downward for potential impulse)
Highreward
Gold Buy setup with high RRRGold Buy setup with high RRR. Setup is analyzed with Order Block methodology.
Sell looking soon for AUDCHF!!We can see price is beginning a downtrend on a higher timeframe, so I made my call for price to retrace to previous support at 0.6886 for a short position. Price has now returned to support and agree with my call, so I am entering a short position with an SL at previous head and shoulders support. (Entry for shot or swing trade)
Thanks!
2 big potentials looking for EURAUDDuring the last 2 months, we have seen price go in a bearish trend into the 1.56 support range, now we're seeing price repeat a similar bearish downtrend down towards that 1.56 support range. Currently waiting for a retest back downwards and an obvious reversal for my Long entry. (if we see price break support it doesn't mean look for short positions right away, wait for the retest, and find a good reversal for your position, look for TP with past supports)
BTCUSD Buy soon!We all saw the breakout in bitcoin today now were looking for a pullback, cause what does price do, always come back. after a good reversal is found on the Fibonacci, high RRR position!!
AUDJPY repetition on smaller time frameAudJpy is looking like we're about to enter a buy this week with its big rejection pattern from trendlines about to repeat itself on the 4h after it made itself clear on the D. Looking for a dip down to the 80.36 level off the Fib into our take profits (potential small sells?). Looking to get the most accurate, sniper entry to get a RRR around 5-6 or even higher.
AUDJPY Looks Weak After Strong OpenFX:AUDJPY had a nice run up on open inverse to weakness it showed on Friday. The pair seems to have slowed down on the buy side and I expect to see some sellers come back at these higher price as nothing significant took place over the weekend to cause this run up. I am targeting a 3-1 5.9-1 and a 7.6-1 RR ratio as I expect that the move a very similar (if not the same) to the downside will take place, now also with the potential for buyers to get trapped.
NZDCHF Looks Ready for a SelloffFX:NZDCHF buying looks significantly weaker and it appears ready for a drop. I have identified 4 potential targets of retracement and while this isn't the ideal entry it will do. I will be monitoring my trade closely as it was very choppy on the way up and volatility could be a reoccurring theme throughout the week with much happening in both the European and US markets. Note that there a few economic releases for both of these currencies however, they shouldn't have much impact on the exchange rate.
GBPJPY Short 12.2/1The Pound had a decent 2020 year, outperforming the Dollar despite uncertainty of Brexit and large relief payments made to their citizens. As it approaches
it's 2020 highs, a correction makes sense. This short is a play on break of structure which I expect would cause a lower swing.
Good risk to reward ratio to buy Here is a well defined risk to reward ratio, Walmart has been doing great with holding the trendline and the upside is healthy.
with more covid-cases I can see their online sales getting another boost.
So what do you think? is it a good set up for entry ?
EURUSD - Bullish Flag Pattern - Trend Continuation + MTFAHi Traders!
The market is in an Uptrend.
Let's begin our Multiple-Timeframe-Analysis with the Daily:
The market is clearly in a strong Uptrend.
We here have an ascending Parallel Channel.
The price is also respecting those other S&R Levels.
Great, here is the H4-Timeframe:
The market was moving in a consolidation.
Then it came back and is now retesting this break.
Here comes the important part!
Now we have to consider the behavior and the price action of the market during the Retest.
What is the market telling us?
For Example:
The market is breaking down and closes.
Then it comes back and closes even above the opening price of the previos candle.
(Bullish Engulfing Pattern)
This is a sign of Bullish Power, even it did break down at first.
Or what about that:
The market is making lower highs and comes to the Support.
You realizing that this could be a descending Triangle.
This is clear bearish Power, because the Traders are willing to sell at lower and lower prices.
Is everything understandable so far?
If not, write a comment below!
Finally, here is the Entry Timeframe:
Firstly we have drawn the Fibonacci Retracement Tool.
It was falling until the Level between the 50% and the 61.8% Retracement.
Then we drawed the channel from the retracement move.
We realized that this could be the Bullish Flag Pattern.
Even we have a save SL which is far away, the RTR-ration is 1 to 4!
And we're trading WITH the trend.
We recommend to be careful at the Resistance Level.
Thanks and successful Trading :)!
#Swing #tradeIdea Long over 53. Tight stops. High R/R SetupWith markets retracing watch for a good Dip buy entry tmr!
CADCHF Short - 1:7 RRRNot a bad cadchf short with only a 15 pip stop loss.
Let's see how this one runs.
rejected the 0.786 Fib and created a strong area of resistance.
USDCAD - Strong Trend Continuation - Trendline Bounce & BreakHi Traders!
The market is in a Downtrend.
As always, let's look at the Daily Timeframe first:
So, we can see the market is strongly respecting the Daily Trendline.
We can identify the Trending Moves and the Consolidation Stages.
Pay attention to that the market is now near the Trendline again.
Now we switch to the main (H4) Timeframe.
The market is falling down after the consolidation.
It has fallen until the next Support and bounced off fastly.
Now it is in a Retracement move of the overall Trend.
It is here in a potential Channel (still need an upper touch to finally confirm it).
The Trading Idea is: Sell the bearish Breakout of the Channel / lower Trendline!
Here are some additional confirmations:
Market in an overall Downtrend
Market at Daily Trendline
200 Exponential Moving Average showing bearish Power
We recommend to trade the Breakout with a confirmation.
Thanks and successful Trading :)!
Multi-year Resistance BrokenThe multi-year resistance level we have been discussing in this market in recent times has now been broken with price making a solid move higher.
There looks to be a large amount of space for price to move higher into, so the resistance level price has just broken out of looks to be crucial.
If this old resistance can hold as a new support price flip level it could be the key for price making a new leg higher. It could also be a solid level to watch for bullish price action clues.
Thanks for your like and support
Possible Retest & Long Position - GBPCHF - 7.68% R:R Hi All! Hope you're keeping well and having a great weekend! Just wanted to share a personal analysis I've made on GBPCHF! Please feel free to comment below any questions you may have!
With GBPCHF, I would personally like to see some movement to the downside towards the marked 4hr structure, to retest it as a support for price then to move back and follow the price trend to the upside. As you may not know, the Bank of England has a speech tomorrow which will greatly affect the pound - if the speech is 'hawkish' then we could see some strength for GBP which will support this long position.
You may notice that the fib retracement isn't on the highest wick, which is something I've personally done because I feel that maybe the last two candles on Friday could be very sketchy to work off, especially towards the market close. By doing this though it's lining up perfectly with the structure, and would be nice to get a long from that position. We're also above the 40EMA which I personally work with on minor pairs which will support this - also this could count towards a touch on the ascending trendline (subjective) which could also show support.
I have chosen to have my stoploss at 20pips + 3pips for spreads, and I will be risking 1% of my capital for this trade.
Confluences:
Trendline
Structure
40EMA
Fib Retracement
Conformation
"Pending" 😉
Obviously please do your own analysis, so please don't take this as gospel and please ensure that you use the correct risk management for this trade.
Let me know your guys thoughts!
Cheers
Daniel
Instagram: @DanielJamesFX
Twitter: @DanielJamesFX
HUGE 371pip short on CADCHFToday I entered a huge huge 371pip short on CADCHF - with the reward risk ratio of 7.41.
I'm looking for a break of the marked 4H structure and for it to retest and continue down to the desired target of 0.66215. I know a lot of people will say this is ambitious, and I agree - but I from an analysis that I'm following and have checked out. I feel that this is a great opportunity for a longterm short.
Something I'll be keeping in mind would be the news coming from Canada on Wednesday - especially the CPI report which will certainly have some High Impact on the Pair.
Please let me know your guys thoughts!
*Please note this is my own personal analysis, and I strongly recommend that you carry out your own analysis before executing a trade. Please do not take this analysis as gospel.*
DAX Elliot correction wave - 5:3:5 zig zagHello world,
another idea regarding DAX / Germany 30. Working out quite alright already.
Unfortunately forgot to press "publish". Still a valid guess though.
EURGBP-Head & Shoulder Short Opportunity175 pip potential trade on OANDA:EURGBP .
Enter short on neckline break.
