Outlined the process each trade should involve. Simple IF... Then process.
IF the market reaches my level of interest without violating the A point of the pattern Then i will buy.
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It has been a while since I have posted anything to Trading View, apologies!
I spotted this setup over the weekend and it seems to be playing out how I would expect. The new highs printed last week at 0.6850 indicate that this pair may move higher, or at lest retest last weeks high price of 0.6860.
The red and green boxes show where I would be ...
Very low active float due to high tute ownership (0.1% of 30,560,280 = 30,560)
High short interest - 21.6% (6,600,489 @ 13 days to cover)
TTM P/E of 9.17 vs. industry average of 21.04
7.98% dividend yield, ex-div 2/26/2016
No one on StockTwits cares about it... yet
I ENTERED BULLISH ON THE CAD TODAY AFTER THE PRICE CREATED IMPORTANT SUPPORT AROUND THE 1.3710 LEVEL, AFTER THE PRICE MOVED TO THE 1.3734 LEVEL AND DECIDED TO MAKE A NEW HIGH I DECIDED TO ENTER LONG, WITH THE PRICE MAKING A NEW HIGH AT 1.3755 I MOVED MY STOPS TO B.E. , BUT THE PRICE CAME BACK AND REACHED MY STOP LOSS FOR A SCRATCH AFTER COMING BACK TO THE ...
Like many times I see before single high means nothing so while there is no 2 higher highs 2 higher lows trend still down. There is possibility that we have deeper correction higher (ABC) in this situation 81-80 area can be good spot to look for long on trend line retest but for now just waiting good short signal from here or another important level at 84 with ...
As all retail traders are looking for long trades, we know this pair can easily get lower again.
The nice high test at out weekle resistance is a good signal to trade from along with a bunch of other confluences on the different TF's.
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, ...
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 ...
After breakout of monthly high this pair consolidating first time so short term downside momentum possible at least to test broken monthly high. If that one fails next stronger support can be see at daily trend line 2015/09/29 low and 201510/30 low. Setup invalidates if recent consolidation will be broken.
We can see that from the initial low put in early last month AUDUSD has been in a bullish rotation. The structure zone of 0.7160-80 has been respected on a number of tests recently. Therefore I think it provides a good trading opportunity with a decent R:R. For anyone trading Aussie this week keep in mind we have RBA rate decision tomorrow (Tuesday) ...