Looking at the daily time frame, USDCAD made a clear turn around in its prices at the 76.4% fib level. This suggest that the pair may now continue its impulse run to higher highs. I would be looking to buying this pair from now on.
USDJPy has pushed through horizontal level @ 109.68 to now test strong daily trend line currently seeing indecision.
if price can break below 109.85 showing strong continuation... looking to take short a position with stops at previous 8 hour candle high 110.48
1:2 targets
Hey guys! Its been a while :) found a double top pattern on the NZDUSD yet again! Trade below the neckline! Don't sell before it!
Let me know what you think!
Good luck everyone! :)
We have recently seen a sideways move. We saw a big bearish movement and quickly lots of buyers got back in. Maybe market makers were trying to eat stop losses. Now, the market could continue to fly as the market has made new highs on weekly timeframe. Ttrend could continue.... Let's see what happens...
We have some support and resistance leading into the trend line. Price confirmed the trend line with a couple of days of consolidation around the 1.135 level. Now that we have a breakdown, ill look for a retracement to around the 1.134 area for a short entry.
Any thoughts would be appreciated :)
We have recently seen big bullish move on the 1h chart giving us the opportunity to catch a lot of pips on the way up to the monthly key level.
Anyway this is a BEARISH MARKET and we've got to be really carefull. We don't wanna get caught on the shorts.
This trade is taken on a 1% risk on the capital of our account.
We have just seen a good retrace on 1h timeframe. Which has confluence on the support of the 10th of May and also the 38% fib retrace. The weekly candle closed really bearish and we recently have seen two dogi candles on h1. We want to reach the -27 fib extension.
There has been formed a head and shoulders on h1 and it is recently been broken. We would love to see a 4h candle closing big and engulfing above the 0.739 level, which it looks like is soon going to happen. The Take Profit won't be till the supply zone. It will be till the 61.8 fibo retrace of the downwards impulse. Let's play it safe.
Look at jumping in on this down trending market at 0.8775 level if price can break below...
Price has retraced, testing new Resistance, now looking for the signal to short this market.
Stops @ 0.8793
Good potential reward on this set up,
1:2 initial targets, further targets @ 1:4 + if market continues to show bearish momentum.
Sorry for the inactivity for the past month, but now im back!
Going to playing the breakout like always. NZDUSD made a beautiful retracement, and from the candlesticks, it looks like the bulls are running out of steam and that the bears are making a come back.
Breaking down the AUDUSD we can see that we are overal bearish,
expecting a 90 pip rally down and new LL formation to form at
around 0.7755, A break below 0.7350 and Ill look to
short this pair.
Like, follow and leave your thoughts and comments below.
Dont forget to follow me on instagram and Twitter @phillofficial
We have seen a lot of downside momentum on the pair.
The pair is now approaching key levels, a break and retest of support zone @ 0.67229 will initiate shorts to @ 0.65710.
However a break of the CTL will warrant longs to upside target @ 0.68727.
TRADE WITH CLARITY, PATIENCE and PRICE ACTION!
NZD/USD has failed to break the critical level yesterday. The uptrend is still intact, becareful shorting the pair.
However, with a potential double top and the uptrend losing its momentum, we will be on a lookout for a possible move to the downtrend .
This could grab us some nice pips if it works out nicely.
Please leave your comments so that we all can learn...
Beautiful Double Top at a major resistance level 0.70530 successful! Recommended to wait for a retracement before entering!
Good luck guys! May the pips be with you! :)
Hey gang! Hope everyone is doing fine on a Sunday! Found a potential Head and Shoulders reversal pattern that could result in a good long trade! Some confluence here points towards this:
-Trend line broken and retested a Fib level at 23.6 level.
-Fib level 23.6 had a false breakout and a large bullish candle just pushes it right back into a bullish...
AUD/JPY WEEKLY OUTLOOK. SHORTS ONLY. As you can see we are breaking out to the downside expecting new lows hopefully we get a little pullback so we can execute a short position down to D1 FIB target witch is confluent with support 74.377. Lets see how this analysis plays out.
