USDCAD is forming a new bearish setup while the price is in a tight sideways channel. The bottom part of this congestion phase also matches with a previous important support, so a breakout of this key-level might push the price below 1.31.
This is a stop entry order, we are not going to enter at the market price.
EURGBP is attempting to break a very strong downtrend, with the price trying to go above last important swing high and above the Ichimoku cloud. We have talked about this potential trade on my YouTube channel, I hope you had the chance to follow the idea and structure your own trade.
EURUSD is at the top of a descending channel, so we can try to find any action by sellers, confirming that this is a good level to get in with a short position.
At the moment, on the H4, we have a good upper shadow hitting the upper part of the channel, but I would like to wait for a stronger action, so I place a sell stop entry order at 1.1110, so we can verify...
EURAUD is following a rising wedge and the setup of the moving averages also show that there is an uptrend. So why am I planning a short position?
The rising wedge is still quite large and this gives the opportunity to try to find a rejection at the top of it, with a great risk to reward ratio.
Also, the moving averages are quite close to each other, so with a...
NZDUSD is testing again a short term support that we have had for the past 3 days.
We are waiting for the right attempt by sellers, so we place our sell stop entry order right below the level, waiting for a breakout.
As I mentioned in my video on YouTube channel (Federico Sellitti), I was going to look for a trading opportunity on this chart.
We have a second hammer right on the upper part of the ascending channel, so I'm opening my long position on it.
AUDCHF just formed a bearish engulfing pattern, creating an opportunity to enter with a short position in this down-channel.
The price is slightly retracing, this gives us the opportunity to get a very good risk to reward ratio, while still placing a good stop loss, above a mid-range downtrend line, and a good take profit at the bottom of the descending channel.
EURCHF is testing for the third time a support that already proved to work in the past even as a resistance.
Since we can play this trade with a great risk to reward ratio, placing the stop loss right below the support and the take profit around the green area, I suggest to sacrifice a portion of your potential profit and choose an entry that is higher than the...
EURGBP again on the orange moving average. Last 3 times, we had a nice rejection, with buyers coming in to buy again at that level. Right now, it seems that we might have the same pattern.
The price is also within an up-channel, with the setup of the moving averages that is bullish, so this trade is worth a try, considering also the good risk to reward ratio.
NZDUSD tested again an important resistance and sellers already showed to be quite strong around this area.
With a very good risk to reward ratio, it's worth to see if sellers will continue to push the price down, resuming the downtrend.
We tried to catch GBPCAD yesterday, trading the breakout of an important level. The trade was going in a good direction, we started to take part of the profits, but then we had a super movement in favor of the GBP, so we removed the trade at the entry level.
Today, we try to catch another possible breakout with the continuation of the downtrend.
EURCAD is clearly in a downtrend, but not having any strong down-movement, at the moment. There was a first support (in blue in the chart) that held for a while, then the price went below it without any strong action. Now the price is passing another swing low, let's see if we will finally have an acceleration of the price, going down towards 1.4430.
AUDCAD testing the upper part of the down-channel, with a double candlestick pattern: a tweezers top and a bearish engulfing pattern.
Stop loss and take profit are very tight, since we are trading on the M15 within a very tight channel, so I suggest to check the spread first for your broker and avoid this trade if you have a spread that is over 1 pip.
AUDCAD gave us a good profit for yesterday. Today, we are continue with a short position, following the trend.
The idea behind it is to trade the breakout of this tight down-channel that could lead to a nice acceleration of the price going down.
GBPCHF is retracing after a strong down-movement. Yesterday, I published a video on my YouTube channel, showing how to draw and use Fibonacci Extensions for your take profit, so today I wanted to have some examples on it, while still trading with my original trading ideas.
AUDCAD attempting to resume the downtrend by breaking an important uptrend line that represents very well the reaction by buyers.
Opened the trade right after the breakout, but now the price is forming a hammer, so I suggest to wait before entering the trade because we might need a further confirmation.
After getting the profits from a previous trade on Bitcoin (see link below), it is time to plan another short position in a market that is clearly bearish, despite what Bitcoin enthusiasts might say.
The market is following the first 3 phases of what is known as "stock life cycle". Since Bitcoin is also a market dominated by emotions, with many improvised...