Coffee just woke up, at least in the short termSo no breakout... instead a rejection, which means I'm switching bias! Who thinks the rally we saw in coffee last week will form the year low? Possible ins't it? I'm still overall bearish, but based on the reaction we saw from support at 113, I think we'll see a retracement before we get back down below the current year low.
Since we saw this reaction off the edge of the range, it makes sense to retrace higher a little further to the next resistance level (a higher consolidation). Well, at least in the short term that's what it looks like. my upside target on the fib is 124, and you can see the buy zone below 118.70. I bet you're wondering what happens if it burns lower through the buy zone? Then it's my second loss on this pair in as many weeks, and I'll go chill on the beach :D
What's your opinion, up, down, sideways? Share your charts, and comments below! Would love to hear what you think! :)
Note: All ideas expressed here are presented solely for learning and educational purposes only. Any gains or losses assumed by trading ideas presented by The Bad Panda are done so at your own risk.
Longtradesetup
#EURGBP Long IdeaLong idea for a potential long trade on the #EURGBP after it hit a major ascending trendline.
Best of luck to all you traders out there!
- your untypical trader guy
ETH Waves and trade recomendation.-Hear the end of the first wave and possibly the beginning of the second which is expected to be 2 times the first. watch for break in resistance
range between of 0.08000191(stop loss set bit below this.) and 0.08130818 ( serves as confirmation for second wave).
-MACD indicating an increase in momentum as the lines go above the 0 though RSI indicates an over bought position.
-The second wave might make a move towards 0.08351413.
NOTE:
-Watch points carefully but remember to use at a range not an exact point and to trade at traders discretion.
-Keep in ind the risks of trading.
Good luck.
USDCAD end of correction?The pair has bounced off the deep correction lvl 78.6 FIB. As we can see it's resting now on the Monthly lvl of support and has broken CTL as well. On my opinion the pair has made new higher low and ready to go all the way up to 1.4600 min.
[AUDUSD] PIN BAR CANDLESTICK + AREA OF RESISTANCEFX:AUDUSD
In this trade we can see a nice preceding bullish trend heading towards an area of resistance, next we see a nice pin bar candlestick which tells us that the bullish power might be transitioning to the bears. Confirmation is needed for me, so i executed a breakout entry below the low of the pin bar candlestick or also called Indecision Candle.
Trading Details:
Time Frame: 12hr
Entry: Below the low of the indecision candle (Pin Bar)
Stop loss: A few pips above the high of the Indecision Candle
Risk/Reward: 2:1
Account Risk: 2%
Possible moves on GBPZAR (cypher and bat patterns)Quite a late entry into a daily bat pattern, which we could gain a few pips on nonetheless. Even if it does stop out we still have a potential movement into a large cypher pattern which could provide a large number of pips.
USDJPY bullish bat pattern forming Bat pattern to continue what could be a consolidation in this pair.
Buy at 111.995.
Profit targets indicated by green box.
Stop loss based on previous structure.
EURGBP H4 BULLISH CYPHER PATTERN SETTING UPHI ALL,
We might see a Bullish Cypher pattern setup here.
We need to see a D leg Completion at a 0.786% for it to complete.
Stops above X leg
TGT 1 0.382
TGT2 0.618%
Best of luck :)
