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.
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.
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.
GBPCAD breaking a very nice support, with a strong acceleration of the price. Sorry for posting it late, I hope you were able to catch it from the live trading account!
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.
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.
USDJPY tested the same resistance for three times and we had a nice reaction by sellers. Waited for a small retracement to get a better price, now it is time to enter with a good risk to reward ratio!
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.
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...
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.
Bitcoin is testing an important support and buyers didn't miss the opportunity. As you can see, the price is going up with a strong action by buyers. The market is still down, in my opinion, so I'm waiting for a good opportunity to enter my short position. My trading idea is to let buyers push the price higher for now and start to sell around $10200, where we have...
EURNZD is about to test a very important level where we see the second line of the Ichimoku cloud and also a short-term support. The price is approaching this level with a clear sign that sellers are strong on the market, so we can start to think about bearish trading ideas. My idea is to wait for the breakout of both levels, placing a stop entry order right below...
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...
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.