BenCheungFx

BenCheungFx

We have two fibs in play one on the daily and one on the most recent bullish move which I placed on the 4H chart. Stop loss is below the 0.618 fib on the 4H and entry is at current market price. For take profits we have two potential targets. Either the 0 on the daily fib or the 0/-27 on the 4H chart. I recommend closing 50% and leaving the rest to run!

BenCheungFx Updated 

I had two potential supply zones marked out. The one that has currently been rejected has also allowed us to form a double top. 3:1 risk reward, a nice sell off opportunity.

BenCheungFx Updated 

Overall uptrend - From previous low to current high we can see that price is starting to reject the 0.5 fibonacci level. In terms of a target we are targeting to previous structures highest point which is only slightly above the -0.27 extension target so that's good confluence for our target also. The last 3 candles on the 4h were all indecisive with rejections...

BenCheungFx

If we can get a pullback to our resistance area forming a double top we can confirm a reversal of this bullish move in NZDUSD. More recently it has also broken an ascending trendline which already tells us bias has changed. We broke out of this trend perfectly for our daily range where we have a few high volume zones as shown with rectangles. These are potential...

BenCheungFx Updated 

NZDCHF has been ranging for a few days now. Price was previously pushing upwards but failing to make a new high on multiple occasions we assume this range is holding strong. Now onto the 3rd touch of the trendline we have high probability for price to move back down into the high volume area marked by the rectangle. Huge risk reward available.

BenCheungFx

GJ Has been moving downwards for a long time now. Recently forming a double top, after a break of the neckline we now see a retest on the hourly time frame. The double top was formed on a 50% retracement level and we now look to target a duplication of the previous push which leaves our target between 0 and -27% fib.

BenCheungFx Updated 

Daily descending trendline 3rd touch. Hourly ascending trendline broken off a touch from the daily trend. Using this breakout we can use our fibonacci and as we see around the 0.5 level we actually have the resistance of the left head. Potentially a good short opportunity off the level.

BenCheungFx

Pretty simple break and retest. Continuation of trend. Nothing too major, massive stop loss to do be careful when trading. Ensure you manage your risk!!

BenCheungFx

NZD/USD Broke out of it's uptrend which can only be looked at as a pullback from the larger bearish move. Now we either hold for a double top or expect the breakout to continue making lower lows. The breakout also occured around the 0.618 fibonacci level so we have all bases covered here. On top of all of this theres a potential head and shoulders structure...

BenCheungFx Updated 

Gold has finally stopped ranging and pushed to the downside. In ranging markets we try to avoid trading the range and wait for a clear breakout. The push to the downside is exactly that. Clear! With this being said, a retest on the resistance from the ranging zone would be a nice indication that a high has been made and we will short to catch the push to the new...

BenCheungFx

7:1 R:R You guys know i've had great success with Dow Jones recently, lets try keep it up. Trade with caution: Pair moves extremely fast and comes with a high degree of risk. Make sure you risk maximum of 2%!!! Thanks for checking this out, please leave a like and comment. Don't forget to follow me so that you don't miss any of my future ideas.

BenCheungFx

AUD/CHF was trending down for a very long period of time. Had a strong pullback and is now starting to form a double top. With the huge bearish push from the first time it touched this zone in comparison to the slow climb back to the same price level. I believe the bears are still in control, price just coming back to collect some more orders to make the push...

BenCheungFx

EUR/USD has been trending upwards for a while now and I see it testing the 0.61% fibonacci level before reversing. On the 4h, 1h and the 15m the trend is bullish. Easy break of previous high and retest formation. Enjoy!

BenCheungFx

Wait for a new structure low. Wait for a retest on previous low. Enter your trade with stop loss clear of previous high. Simple as that. Be patient, plan your entry and let it run.

BenCheungFx

The pip movement range in US30/Dow Jones is crazy. 5 Minutes can be 100 pips. The risk is high, but the reward can be way higher. Take care when trading. Make sure you don't leave this trade running too long

BenCheungFx

....FRIEND Remember guys always trade with the trend. The higher time frames are all trending down. The smaller timeframes are also trending down. This means one thing! SHORT. Sell on structure highs and ride them out to the new lows. Simple yet effective, that's the way we like it. Price action is king. Please leave a like and share your thoughts down...

BenCheungFx

GBP/AUD Was looking like a very strong buy until it started a reversal shown on the chart. It's cleanly started trending downwards with a set of lower lows and lower highs. Price is currently hovering around previous structure low meaning this is a good possibility of a retest. As the trend is clearly bearish and we're able to enter at a potential high. This is...

BenCheungFx

Here we see USD/JPY that is continuing it's downtrend and closed on the most recent structure low with minor rejection. From what I can see this is an easy 4:1. Take what the market is telling you, read the candlesticks and learn to understand structure. The trend is your friend... we've all heard this... yet not many people trade it? Please leave a like and share :)