EURUSD H1 - LONG
Prices are retesting the support area and trendline. We will be waiting to see what happens here. If we see a strong bullish impulse move from here, it shows that there are buying interests and we will take a pullback trade if it breaks the immediate resistance level @1.21200.
Understand that the immediate swing consists of strong bearish...
NZDUSD H1 - LONG
Prices broke out of descending trendline and have yet to give us a pullback.
If we do get a pullback onto previous structure or support area, look for BUY opportunities; bullish price action for a LONG position towards 0.72779 resistance area.
Consistently making higher swing highs and higher swing lows. Take a BUY position at this area, potentially creating the higher low that we needed, in order to push towards the next extension level for take profit.
CADJPY H4 - LONG
Strong breakout and retest onto resistance turned support area. We have a bullish engulfing candle on the H4 timeframe that serves as a potential confirmation candle.
Look for an entry on the lower timeframe to catch a LONG position.
GBPCHF H1 - LONG
Previously, we see a consolidation breakout and now, we see a similar pattern whereby prices made a bullish impulse leg, consolidates and we're expecting a breakout off this level. Projected move will be the 1.272 fibonacci extension of the bullish impulse leg!
Be patient and wait for your setup!
EURUSD H4 - SHORT
Price came back to our key structure. However, it is looking bullish now therefore, we will wait for a depletion of the bullish pressure and wait for sellers to come in. With more bearish pressure, we may look to enter this trade.
Do not enter trades blindly. If the bullish pressure is strong, wait for a depletion before taking a SHORT.
Strong bullish impulse move, followed by a retracement with weak selling pressure. This means that the current bearish move is a correction move and we are looking to BUY soon. Look for bullish price action and bullish pressure to come in again.
Be patient and wait for your setup!
GBPCAD H4 - LONG
Prices broke the descending trendline with strong bullish momentum, now coming back to retest a neckline structure. No signs of strong bearish momentum just yet and that is what we are looking for, in order to take a LONG position towards the extended targets.
Double bottom followed by a bullish breakout of the neckline structure, came back to retest for a LONG entry towards previous high. Price are consolidating in a big triangle, which has an impulse bullish move to start off with.
AUDCAD H1 - SHORT
Lower swing highs and swing low formation, looking for a pullback onto previous structure to create the "Lower High" needed for another push down.
We'll monitor the price action at those key levels before deciding which zone to take.
GBPCHF H4 - LONG
Prices are constantly making higher swing lows, eventually leading to a breakout towards the upside. Currently, looking for a retest onto the support area where we will take a potential LONG position.
Monitor the price action at the support area before taking the trade.
Strong breakout of previous resistance, now turned support. It seems that prices are rallying due to the huge movement from US DOLLAR. If we get a pullback, we could take a BUY position.
Be patient, do NOT chase the market nor buy when it is rallying. A strong move usually consolidates after awhile, or retraces for a better entry!
EURJPY H4 - LONG
Strong push phase that broke the ascending trendline and now coming back for a potential retest onto the confluence zone.
Look for a depletion in bearish momentum and bullish price action at the confluence zone for a LONG position, with take profit target at previous high.
Triangle consolidation at the top, now broke down and looking for a retracement or pullback for a potential trading opportunity, selling it towards the next support zone. Look for bearish price action or bearish pressure to catch the move towards the bottom.
An idea for the next trading week. Looking towards a breakdown retest formation. Look for a SHORT trading opportunity on the lower time frame to catch a good entry, with take profit at the next support zone area.