Similar to GBPCAD,
On GBPNZD bears broke a support line of a symmetrical triangle formation.
Trading in a bearish trend, such a breakout will lead to a strong bearish move.
Next goal - 1.905
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CADJPY swing short. price level is about to check a strong resistance in a weekly time frame. We can expect down trend will increase in smaller time frames and can look for swing short opportunities.
Analysis done on the weekly timeframe. As you can see, USDZAR is in a clear downtrend. I expect price to come up closer to the trendline before ultimately heading down again. I have identified several key support and resistance levels from the weekly TF also.
This is just my analysis, i've never actually traded any exotic pairs. If anyone has any advice or tips...
I am looking for a short trade on GBPJPY. Technically speaking, bearish divergence has been detected on Daily chart. Candlesticks has shown weaknesses lately.
Target L3/Pivot. Stop loss around H4. Camarilla pivots monthly levels + CPR
However if it breaks the H4 and retests it as support. Potential this becomes a long to H5 with stop on H3 instead. Howecer the price is far over mean and monthly magnet pivot is untested
Multiple time frame direction bias on Daily, weekly -
I missed the initial entry on this position, it's already occurred, could get another entry
Euro would need to see a turn around in the narrative regarding their vaccine roll out for this trade to tank
Multiple time frame direction bias on Daily, weekly and monthly
I missed the initial entry on this position, it's already occurred, could get another entry
Monthly chart has confluence of Trend line and 200 simple moving average a close below both of these opens up further bearish momentum.
Euro would need to see a turn around in the narrative regarding...
Daily directional bias is good, the wave is smooth, established and respected.
Single time frame DB and crude at resistance makes this a higher risk trade, would take a smaller entry.
Weekly has no wave directional bias
Monthly the trend has been up, however the wave is not smooth established or respected - I like a short with a target at the monthly uptrend...
Direction bias on daily and weekly time frame, will be taking a regular size position on this trade when it triggers
Driver is CAD on crude strength, a correction in crude or some USD strength may trigger an entry on this pair
I have already had several profitable trades from 1.2700 level
Bearish directional bias on daily only, make this a higher risk set up due to lack of multiple time frame directional bias, so this won't be full position size.
Weekly - fresh bearish DB
Monthly -Break and close below monthly trend line would signal more bearish momentum
Current driver is euro weakness on vaccination program in Europe falling short compared to...
After being unable to break 82.00 I am bearish on this pair and looking to enter as a possible swing to the downside. Could change due to CAD Unemployment rates
Here is my short case on CRSP:
- at the top of trading channel started since Feb 2020
- over bought reading on RSI
- both PPO and RSI shows very clear divergence high
Starting building a position as it hits the top of the channel and scale in as it moves down. Impulsive break of the wedge should move it down to the support at $161. Reaction will be likely,...
This is a potential set up and not yet actionable unless you want to take an aggressive starting position. JPM has finally up to pre COVID price level. The run up recently has been too fast too sharp in my opinion. RSI is extreme over bought reading. Any marginal high will extend the PPO divergent high. Be careful trading this since the earning is coming up on...
Refer the chart for detailed analysis ;
Gold is looking weak at this moment and it will drag down unless it's not crossing above 1958 strongly.
Follow the levels mentioned in the chart, for any confusion write in the comment section.
Cheers...Happy trading.
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![XAUUSD: GOLD OUTLOOK [ updated]](https://s3.tradingview.com/n/nhGjpCjT_mid.png "GOLD OUTLOOK [ updated]")
