I just got short on USDCAD on a Bear Flag pattern. It has broken the pattern and retested the breakout area. As of right now price is holding the breakout.
If you zoom out onto the Daily chart you will see that 1.80 level had some importance in the past. Price has pulled off the Daily Resistance very fast and now looking for a decent rotation off the 1.80 level. Look for some sort of sign from the market before just aggressively buying up the 1.80. Maybe a double bottom, RSI divergence, bullish candlestick pattern,...
With a retracement back to the 61.8% fib, I'm hoping EURUSD will bounce up to somewhere around the 1.1350 area. This would line up with the previous years test of resistance (Head and Shoulders) which I've highlighted with Yellow circles and as you can see we have no broken that level since then.
Parallel channel on 4H GBPJPY look for negative reaction to UK PMI in 2 hours Target moving averages and support below price action for places to TP. TP your decision based on 3:1 or 4:1 risk/reward ratio SL 15 pips above trend channel
Plan as shown. I use SL below HL (fib 100%), because the entry keys is using fib. 78% Don't forget today is NFP !! check your account, plan & entries guys. Good luck & have a great trade !! This is the second plan for this week, USOIL is great !!
higher timeframe is in uptrend with a weakening trend strength which means to resort to the oscillators intermediate timeframe is showing a strong uptrend with a flattening short term moving average- indecision/potential consolidation price action is telling me that there is a resistance at the 341.6x area with the triple pinbars MACD is declining and starting to...
-long term trend- rising moving averages with strong trend -intermediate trend in positive with relative strength increasing with room to run -intermediate moving average is slightly weakening pulling back into .38 retracement level and where dynamic support is found -volume by price is showing there is volume in this area supporting evidence that shows possible...
Reasons: - Class A bullish divergence on the MACD Leader - MACD tightening, looking like it is going to turn into a buy signal - Bullish engulfing candle - Increasing volume - Price currently reversing off of long term support/resistance zone Looking for a swing up to $5.98 for a return of 5.58%
GBPNZD has pushed it's way back up to a Daily Resistance Zone. It has formed a Rising Channel as it has pressed into Resistance and typically you will see a break to the downside. This is NOT necessarily a trend reversal but at least some relief for the short term.
Price action has respected the weekly trend-line time and time again, which gives confirmation that we are going with the trend which increases the probability of this trade. (confluences) 1. Support level at 1.3333 has been extremely reliable, as this level has been playing the major role in candlestick rejection. Price action has been rejecting this line from...
Big gap yesterday. With how long it battled this resistance zone, it's a safe bet that it'll retest. Looking for the bounce off the old resistance, new support. LOTS of room to run higher than the 2R target.
GBPAUD has been in a bullish uptrend on the HTF.. Price appears to be putting in a complex pullback in the form of a Bat Pattern.. This will allow me to put Buy orders in at a very good spot to try and hop on this uptrend.
I've been waiting patiently for AUDUSD to pullback into an area where I can get a good R:R Trend Continuation Trade out of it. It has formed a Bat Pattern which allows me to place sell orders at very good level. I will be trading 2 targets on this trade and will trail stops on the 2nd position. On the Daily chart, price has been channeling between Support and...
i will be watching vrs for signs of reversal next week with a Possible sidetrap. A sidetrap is basically what you see here when a stock trades sideways in a period of consolidation breaks down and then reverses which can make for very rewarding swing trades.
Just realized I never posted this one. Triggered in Yesterday with the odd bearish gap in the markets. Good retest gap. 2R target should be doable. Lots of room above 2R before the next major resistance. May be too late for others to enter, but wanted to post it anyway.
there is a good opportunity for bullish continuation with swing trap in the action zone