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...
GBPJPY is very close to an important short-term support. The setup of the moving average is bearish and sellers seem to be in control of the market, at the moment. I place a sell stop entry order right below the support, trying to catch a breakout with an acceleration of the price, going down.
EURGBP keeps its bearish setup with the moving averages, although the price is moving up and down within an ascending triangle pattern.
We can try to take advantage of the rejection we just had at the top of the triangle to open our short position with the stop loss above the resistance and the take profit right above the uptrend line.
EURCHF is testing a support made by a previous swing low. Normally, I would place a stop entry order below the support, but since the price already went slightly below it and last action has been totally in favour of sellers, I think it is better to save some pips and enter the position now.
USDCHF is going down, breaking an important support that was forming the lower part of a descending triangle.
Good risk to reward ratio, I suggest to enter the trade with a slightly lower risk, if you also have the short position on USDCAD.
USDCAD just went out of a very important up-channel. Now, the price is ranging in a very tight congestion phase and sellers seem to have the strength to break this range and push the price down.
The setup of the moving average is not clear. We are far from having a bearish setup, although green and orange MAs are turning down.
Overall, I think this is a trade we...
GBPJPY had a very strong short-term downtrend and sellers were taking a break, celebrating the very good profit they made between the end of last week and the beginning of this trading week.
The price entered a tight up-channel and right now sellers are attempting to break this chart pattern, pushing the price down, resuming the downtrend.
This is a very clear...
EURGBP getting again in the upper part of the down-channel, giving us another opportunity to plan our short position.
There is a bearish engulfing pattern right on the top of the channel, so we can enter right now and play with a very good risk to reward ratio.
On AUDCHF, we had the price moving within an ascending triangle for a while. After the breakout of it, the price had a good acceleration going down, but now it is retracing, testing again the uptrend line that formed the lower part of the ascending triangle.
Sellers just had a good reaction on it, so it is time to trade the rejection of this chart pattern.
NZDUSD testing the upper part of the down-channel.
Buyers seem to be quite strong at the moment, but we already had a good reaction by sellers and the risk to reward ratio is very promising, since we can easily get a RR better than 1:3, even placing our take profit right in the middle of the channel.
You can also have a second take profit at the bottom of it,...
USDCHF is still following an up-channel, although sellers seem to be quite strong now and are attempting to break this chart-pattern, pushing the price down.
We have had some signs that buyers are still trying to buy at the bottom of the up-channel, like the good hammer with the lower shadow on the channel and last candle that represents a good reaction.
NZDJPY is in a very strong downtrend, at the moment. Price is going down very fast and we will try to join the down-movement on the breakout of a short-term support.
Setup of the moving averages is also extremely bearish, so we can't pass on this one :)
USDJPY is going down very fast, breaking a very important support level with a strong action by sellers.
I propose this trade with a very easy stop loss and a convenient take profit, that guarantee a risk to reward ratio that is better than 1:2.