Well the level I have my eye on is the area around/between the 50/618 Fibonacci retracements (128.65-129.26) (Shares confluence with the 35 MA also). I'll be looking for signs of rejection at those areas of resistance to enter short on this pair. Main target areas will be the areas of support pointed out, especially the area of support confluent with the -27...
Well this is just a level to keep an eye on, I might not take the trade myself since it will raise the risk exposure to high for my portfolio. But anyhow, as we can see there is a lot of indecision in the pair between the price area of 87.00 & 92.00, previously at the 786 Fibonacci retracement price was rejected forming a weekly bearish hammer candle. To trade the...
Well, as we all may of noticed by now, WTI crude is now testing this years highs, and a break above would mean that I look for more convenient buying opportunities. But the main point of this chart is to point out the numerous breakouts above the 50MA and more importantly the testing of the Daily 100MA resistance. Which is something we haven't seen since July of...
Well the pair is now approaching previous resistance which is at the .382 Retracement of the previous leg down. So I'm personally neutral on this pair until I get a signal to enter short, such as a daily candle doji or pinbar (I don't trade engulfing candles due to unfavorable Risk/Reward offered by them). Will keep updated with targets if trade is entered. A...
All the explanations are on the chart, very simple structure trading as always. =) Cheers
This is a very clear structure trade. Most explanations are on the chart. Ummmmm, Well what we've had in the pair was a break above the previous years resistance, and now price has retraced to retest the previous years high, which has now been turned to support on clear rejection with buyers starting to accumulate positions at a pretty decent level, thus forming...
Well the levels are plotted out on the chart, and this pair is a short until it breaks above 0.7700 for me. Others might argue the contrary but until the trend is broken then I trade in the direction of the trend. The levels I'm looking for any signals to enter short are the Weekly S/R (0.7550), and if that level is invalidated then I will look to the next level...
Well in here I have placed intra-day levels to trade the Kiwi off of (As many may know I don't really do intra-day trades, but when I do this is what I tend to look at for trade entries). Pivot points are weekly pivots. Simple structure trading. R1 is shares confluence with the Weekly 618 Retracement. Also marked are Fridays Daily High / Low which also share...
Explanation is in the chart. Stops will be placed at roughly 0.7390. Upon reaching Target 1 stops will be moved to break even. Will keep you updated on the trade setup!
Explanations are on the chart, very cut and simple. Will keep updated with intra-day charts.
Update: Entered short upon the Daily doji close / Position size was drawn down to meet my R/R because stops are still in the same area. So to keep potential losses at the same rate I had to draw down the position sizing. Same targets. As long as the pair continues to make lower lows / highs then the bear trend is still intact unless trend transforms to higher...
Update: Decided to add 1/3 of the original position short. With the other 2/3 of the position waiting to short at the .382 Fib level. Stops are at 1200.00 / Short trade targets remain the same. Good luck people! =) Well, as you have probably noticed I'm posting more than usual. There are some many stellar trades setting themselves up its impossible to not post...
Update: Trade nearing entry requirements. Targets have been outlined, and my stops have been outlined on the 4hr chart posted in the comments section. Upon reaching target 1 stops will be moved to break even and managed accordingly as price makes its way to the secondary and third target. Good luck everybody, may the force be with you.. Lolol =) Well this should...
Update: Short has been entered upon the daily candle close as a Doji. Showing the false breakout and stop hunt which ensued today. Stops / targets remain the same. Best of luck to all who have entered short, lets see how it plays out! =) Well we have very clear levels on the Aussie, which is something that I really like! Haha =D All joking aside, what we have...
Update: No signal for long entry yet. Sitting on the sidelines. Well price is finally creeping towards the lower bound of the channel price has been travelling within. I'm looking at the .618 Fib Retracement (Also where 100 MA support lies) for any signs of Daily candle signals of a long entry. The area between the 50 / 618 Fib levels has proven key during the...
Update: Support has proven resilient at this level with the daily close as a long legged Doji, showing demand on the Buyside for the pair. If longs were taken here stops will most likely need to be placed below previous support below the 618 Fib Level. R/R tells me to sit this one aside still until it breaks the 121 area. Well we've been stuck in this period of...
Update: Short entered at 98.94. Stops moved from break even to 97.74. TP 1 96.60 / TP 2 -27 Fib / TP 3 -618 Fib Well hopefully most came out unscathed from the FOMC yesterday, as I sure did not. Licking some wounds, but moved on and ready for the next day, with an adjusted plan of action! =) Im waiting to short the DXY in the previous support turned...
**Headed to support Well today is FOMC day, and so far the DXY has respected the .618 Fib area. With the next area of support being the .786 Fib area =D Happy Trading =)