CADCHF recently showed some bullish momentum and broke through the 4H EMA.
Price has since returned to the support line of its ascending channel.
If we see price reject this support line, fib level 78.9% and break past the 4H EMA, price will likely continue its bullish momentum and hit the 0.7420 area (previus support)
Entry check list:
- rejection at...
The AUDUSD has traded below the Daily Structure of 0.7340 after several intraday attempts to stay above this price point.
Another factor that will contribute to this bias is a break below 1DL of 0.7332.
We look to target the next structural point of 0.7289, the strong line 110% of the Fibonacci extension.
Alternatively, a break back above the 0.7348 will...
Take Profit(1): 1.37500
Take Profit(2): 1.35150
Stop Loss: 1.40400
1. Downtrend on 1 and 4 hours chart
2. Open position near 4 hours 50 EMA (Blue line)
Take Profit (1)
Major price sructure 1.37100 - 1.37500( yellow area)
Take Profit (2)
1.Major price structure 1.34600 - 1.35150 (green area)
2. close to the bottom of the major...
-On the daily there is bullish price structure
-DXY is very weak
-When the 4hour candle closes, if it closes as a bullish Maribozu, I will wait for the rest of the key level and place a buy stop taking it to the next level
-If the zone acts as support, this trade becomes high probability
Good luck and tell me what you guys think!
Taking a look at the price action on GBPUSD we can see a potential level of support set up for a possible move higher at around the 1.3200 big figure.
As you can see from the 1 Hour chart, we have a possible convergence of factors that could increase the probability for a move higher.
The 1.3200 level being a big figure level in general is psychological level...
Good day traders! I hope you all have a great trading day ahead!
Start off with EURUSD. Price has been pretty bearish recently and price action dictates that bullish momentum has slowly fade and bear market has taken charge.
Head and shoulder has been formed in H4 timeframe and price is ranging on EMA 55. To have a good short setup, we are looking for a retest...
As the WEF (World Economic Forum) in Davos is developing, and after the US holiday on monday, the market today picked up the up-trend very strongly. NASDAQ is currently retracing from the 60 pips up-move, and expecting the trend to continue if the "Confirmation level" is broken. Taking profits at 127% and 161.8% Fib levels. Only shorting if the "Invalidion level" is taken.
If you want to be a successful trader you have to learn to read the charts; price action reflects psychology behind the market, once you understand that you'll be one step ahead in the game.
This particular chart is a textbook example of support and resistance generating price structure: $180 was a resistance threshold at first and once broken is being retested...
This is the deepest correction so far in recent times. First one over 5% range. Most other cases markets had pulled back anywhere between the 38% to 100 % range.
the Zone marked in red ( 29900-30100) odd area is going to be the resistance area going forward. Swing wise any pullbacks can be shorted with stops above that range.
quick a video about the price-levels I`m looking at.
As always, we never know what is going to happen but this could be our edge! :-)
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Peace and good trades
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