On the weekly there's a clear down trend for the last 4 years at least. Since this year there's been a strong move up almost all the way to the outer channel line.
Momentum for the up move seem to be slowing down however, when price breaks this momentum out of the short term channel, go short.
Let's see next week if this move continues down and this trade is...
This pair has been moving between 1.4 and 1.44 for more than a month now. The 8 hour charts shows good reversal signs once again. There's therefore a good chance for a reversal towards the mean.
I've set a wider stop loss to accommodate for some volatility from the ECB rate decision tomorrow.
Comments or idea's, let me know.
Good trading today!
The main trend on the daily chart has a bearish bias as shown by the pitchfork setup. Price at the moment is near SR and the median parallel line, There's a high probability for a short towards the median line (in red on the left). Price needs to make clear bearish moves first.
When price makes those lower lows, there's an entry possible for a 1:3.2 RR ratio...
This pair is still in a clear downtrend as shown by the pitchfork channel. If the indecision from last week turns into more bearish movement, there should be a lower low forming. Enter this trade for a move down to previous Resistance zone and possibly further down.
Be aware of the strong SR zone where price stalled previously, this can be a partial take profit...
Price didn't make a higher high, instead the red candle closed below the previous top, if price makes further moves down, put a sell stop below the close and there's a good 1:2.4 RR trade waiting.
Comments or idea's? Please do post :)
Happy Songkran (Thai new year) all and good trading!
EURGBP has been on a move up ever since the end of last year. If this pair is making lower lows and lower highs consistently. It could move down to the strong SR zone of around 0.78. Enter short for a 1:2.1 RR ratio trade
Comments or other idea's, please let me know :)
Thanks for reading and good trading this week!
So we see a longer trend of lower lows, and lower highs on most major indices worldwide, and this is clearly also starting to catch up with USA too. The latest bull move is looking extended and we are seeing signs of exhaustion and a rather messy-looking head and shoulders top is emerging. The key feature here is we have a rising support, the neckline, that...
If this bearish trend continues from the last few weeks, price could go to the next major SR zone.
If price is making that lower low early next week, step in for a 1:2 RR ratio trade.
Comments or idea's, let me know!
Thanks and good trading :)
This pair is on a decline on the weekly chart and the move down to the 0.7 price zone is likely. This is the price zone of the massive downward movement seen in January 2015 .
Take the trade as shown on the chart and it's good for a 1:4.5 RR ratio.
Comments or idea's, please do post them :)
Thanks for reading!
There's a strong move down on this pair as seen on the Weekly chart, The daily shows a good doji signal and buy resistance from the large upper wicks. Let's wait for a break of the SR zone to go into a sell. This setup for the first TP is good for a 1:3.3 RR. Hold it longer for a 1:6 RR trade.
Eventually it looks like this pair will move to the major SR zone of 72.
Channel top and clear reversal candles give us three Take Profit opportunities as indicated by the green area's.
This move can yield a trade for at least a 1:2 RR up until 1:7.4 RR ratio.
Enter on lower low and keep an eye on these 3 TP levels.
Idea's or comments, let me know below :)
Thanks for reading!
CADJPY has been ranging in between 86.3 and 84.6 for quite a while now. On the 8hour chart a pinbar formed which may signal another reversal. If price moves down sufficiently for a good lower low, there's a good probability it will move down further for a nice 1:2.7 RR trade.
Comments or idea's, please let me know.
Thanks for reading :)
Price has been moving in this channel for some time now, on the 4 hour it looks sellers are going to take price down to the next SR zone. Enter this trade on lower low for a 1:2 RR trade
Comments and idea's, please do post :)
Thanks for reading
if there's a break of the bull leg up (a lower low), price can likely move down to previous strong SR zone. The general trend is still bearish for this pair.
Comments and idea's? Please let me know in the comments.