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Hey everyone both currencies are being bought by institutions, the trend should not change direction, nice pullback towards the moving averages on the 1-4h timeframes, the 1h recent shooting star suggests bears are grabbing back their momentum. Weekly has broken into a new low, also a good bearish signal. 💰 💯
💰 TP1 - 0.6403
💰 TP2 - 0.6363
💰 TP3 - 0.6263
hey everyone this could be a good trade towards the upside, I am entering a little later then I wanted to, however I believe if we break the resistance we should be fine for a buying position, it broke past the resistance on 1 hour should continue to daily top. ✅
Looks like a great trade with recent broken resistance, with bullish engulfing candlestick
this tells me a continuation is very likely to happen, the higher timeframes are also very bullish,
and some fundamentals are also in favor of this trade.
Here are the levels to trade and manage your risk
📍 SL - 1.0896
💰 TP1 - 1.0996
💰 TP2 - 1.1036
💰 TP3 - 1.1136
The fundamentals are telling me NZD will not stop falling and we are reaching support soon, but that is not to say we cannot make money if we get a pullback towards or near moving averages with a bearish engulfing candle formation that could be a great trade towards the downside to re-test previous higher timeframe bottom.
if we get a bounce off 25-50 moving averages with bullish engulfing candle this could be a good entry position, since USD is currently strong, it should continue its trend towards the upside :)
we broke past our 115.00 psychological level, this was a important resistance for us to overtake if we ever wanted to find a new bullish trend, it seems like this has already happened so any trade that bounces off moving averages and gives us a bullish engulfing candle will be a good entry opportunity for now :)
#GBPUSD seems like a good trade towards the downside, it recently bounce off moving averages and gave a bearish engulfing candle to confirm the sell pressure, we also see a hit a new low, which typically means a push exhaustion push cycle :)
Entering this trade was great and we made a lot off money, for re-entries make sure to wait for a bearish engulfing candle and a 25-50 moving average bounce, this should be a good confirmation to re-test the previous higher timeframe bottom :)
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so after #USDJPY pulls back down to the moving averages it could be a good trade to enter long, it's recently broken an important psychological level and made a new high on the weekly timeframe, this suggests further bullish movement ahead, after the push exhaustion push cycle has ended.
Could be a nice #gbpusd sell coming up if we get yet another confirmation bounce off 25-50 moving averages with a bearish engulfing candle for confirmation entry.
At the moment its bouncing off the latest support and forming a double bottom, but if we do get a bearish engulfing candle the price squeeze will likely re-test the bottom once again.
There could be a good re-entry opportunity coming up if #eurusd manages to get a bounce off 25-50 moving averages and develop a bearish engulfing candlestick, this would be a good enough reason to enter the trade short.
#AUDUSD looks pretty good with most timeframes trending towards the downside and a recent bearish engulfing candle does suggest further bearish pressure and momentum.
The trade could also pullback to the moving averages so if you do find a better entry, or a candlestick bounce off the 25-50 moving averages that would be a good entry point.
#USDCAD at the moment is in a weird predicament everything is a trending towards the upside except the monthly timeframe, but since it keeps making new higher highs and giving us bullish engulfing candle + its not far off moving averages it does suggest more bullish pressure and momentum.
Gold is pushing towards the downside at the moment, I believe its next pitstop will be the resistance which now became support or the 25-50 moving averages.
You can enter either on the resistance with bullish engulfing candle as confirmation or moving average with bullish engulfing candle.
So USDJPY looks pretty good, but it's not yet a completed setup, we need to wait for a break off 25-50 moving averages, preferably with a bullish engulfing candle to then enter and attempt to re-test our previous top for a good risk-reward.
This trade will require a little patience, but I would keep it on my watch list, if however its broken...
Today I am looking at GBPUSD and it seems like it could be a good selling opportunity it recently pulled back to the moving averages and gave a bearish engulfing candle to confirm that bears are still in the market.
Everything is also trending towards the downside except the monthly timeframe, so we might see bulls coming in the market shortly,...
Today we are having a look at #eurusd this currency pair looks very bearish at the moving with push - exhaustion - push cycle finished and a bearish engulfing candle close from 25-50 moving average bounce is a good enough reason to enter the trade short and this trade will likely re-test the previous bottom level, if it manages to break it I would...
XAUUSD always looks good for a buying opportunity, its a commodity that does not lose in value and typically its better to buy gold then sell it, you will have more success with it this way.
Also looking at technicals everything is trending towards the upside and a recent bullish engulfing candle confirms the trade to buy.