Price for EURCHF has been trading in a range for some time. Now, price is at resistance and a high volatility two bar resistance has formed. This is very significant. I think it will push price downwards to the next support. Whatever happens after that support is left to the market. I expect few pips from this short trade. Somewhat like 50 pips.
This is a eurusd short opportunity for the coming week of trading. I see exhaustion of the bullish trend at the resistance and this is followed by a three bar reversal with momentum and volatility. That means price will most probably reverse. But since the pair is trading in a range, the fall in price would be like 100 pips or less.
A bearish engulfing bar has formed at the resistance of the AUDJPY on 4Hr. The bearish engulfing pattern has momentum behind it as it is reversing a sharp uptrend that shows signs of exhaustion. Good trade. Have to watch it though because there might be some traffic along the way down.
Place pending order according to entry strategy. Use due risk and money management.
A pin bar has appeared that is confluent with resistance and a downward trendline on the GBPUSD 4Hr time frame. It is large and gives good signal. I believe that there is high probability that price will go south. So, this gives an opportunity to go short.
Set pending order at the break of the low of the pin bar and stop loss just some pips above the high of...
Price has touched that 1.0786 support about 4 times within three weeks. Therefore, the sellers have been testing the resolve of the buyers, showing the buyers are getting weaker each time. This reasoning is confirmed by the descending triangle that is forming at that support. So, it is highly probable that price will break that support when trading resumes next...
A possible break of the support along with a shorting opportunity is imminent in the CADJPY pair as shown in the chart above. Price has formed a symmetric triangle after coming from a downtrend, so the downtrend is possibly going to resume after a short retest of the structure.
Short opportunity but do due risk and money management.
