LineTradingPilots

LineTradingPilots

Good morning Traders Waiting paid off in the end as the my buy order got filled in the Asian session. Even if it looks that bullish structure has been broken at first sight I am confident that it is just a fake-out, potentially turning into a small inverted head and shoulders pattern. At this point there is also the possibility to open another buy position with...

LineTradingPilots

Hi Traders This is my daytrade trade idea for today. Nice 1:2 RR. Structure has been broken to the upside. Waiting for a re-test of the bottom as drawn into the chart. As soon as price hits the dashed line (1R), I will set my stop loss to break-even and take the risk out of the trade. Let me know what you think in the comments below. Good luck!

LineTradingPilots

Hi Traders I have a quick one to wrap up the day. NZDJPY Short with 2.6 RR Stop loss goes to breakeven as soon as we hit 1R profit! Good luck :)

LineTradingPilots

Hi traders here is my view on AUDJPY. Obvious accumulation phase going on, which in fairness, can be solved either way (up or down). Given the last impulse on the 4H timeframe though I am bearish and see the accumulation phase as part of a retracement. However, before I jump into a trade I want to see a clear break below the current support zone on the 1H...

LineTradingPilots

Hi Traders I am going short at MARKET price. I think we have seen enough of the retracement. Nice little distribution went on, creating this little cluster. Price re-tested and is currently rejecting. I am taking this as a trigger to go short. Risk reward on this one is 1:3! Stop loss goes to breakeven as soon as price hits 1R. Let me know what you think in...

LineTradingPilots

Hi Traders I think I have spotted a false breakout on EURGBP. Therefor I am expecting further continuation to the downside. This trade comes with a very attractive 1:3 RR. From this point I am awaiting a clear push below the support zone. If this happens I will sell on the re-test of the zone. Stop Loss goes to breakeven once price hits 1R. Let me know what...

LineTradingPilots Updated 

Hi Traders I have just placed a sell limit on Gold with a pretty nice RR of 1:2.4. The shift in momentum in line with the increasingly bearish market structure made the decision easier for me. Very simple market structure, price action approach. If the price hits 1R (black dashed line) I will set the stop loss to break even and let the trade play out. Let...

LineTradingPilots

Hi Traders I am currently watching CHFJPY as it is providing a very interesting price action setup. With the recent rejection of the structure level the momentum has shifted to bearish. I am expecting a continuation to the downside. An entry scenario requires a clear push below the current support level. I will place my sell limit at that very level,...

LineTradingPilots

Hi traders I am expecting another push to the upside on USDCHF. Looking at current market structure and price action it seems to be lining up nicely. The only thing I need to see now is a clear break above the current resistance (red box) - going long at retest. Risk/reward 1:2. I am re-setting the stop to break-even once price hits 1R (dashed line). No trade...

LineTradingPilots Updated 

Hi traders I had this pair on my watchlist for some time now. I was waiting for a clear break to the upside as I was expecting a continuation to the upside. As the last push took out two levels of resistance I decided to split my position in two. In case the move continues after a short retest of the previous resistance level I want to be on board. However, I do...

LineTradingPilots Updated 

Hi traders I have posted the initial idea yesterday but it took a little longer then I anticipated for the break. Anyway, it is here now. I have placed the order as discussed yesterday. Nice 1:2 - stop loss goes to entry as soon as we hit 1R profit. Let me think in the comments below what you think!

LineTradingPilots Updated 

Hi traders here is my take on the CADJPY. Price broke the support area with what turned out to be a fake-out and bounced back into the range. I highlighted the support area with a transparent box. If price breaks the resistance area (black) I will consider buying on the re-test with a minimum 1:2 RR. Trade will go breakeven after 1R is reached. Let me know...

LineTradingPilots

Hi Traders I just went short after this textbook setup. I love waiting for a fakeout - on the upside or downside - and then catch the breakout. Theupmove had to come to a rest at some stage and I believe now is the time. However, I don't want to stay in the trade for too long so I'm aiming for a 1:2 RR. Let me know what you think in the comments below! Have a...

LineTradingPilots

Hi I will leave you this beautiful setup on USDJPY before I wrap it up for the week. Great price action on the 4H - the big picture is on the daily chart where you can identify a strong impulse move to the upside. My plan was to wait for a correction and hope it sets up nicely - which it did in my opinion. The trade I opened is with a 1:2 RR which is a minimum...

LineTradingPilots

Hi I have spotted a nice a clean setup that I will engage in just now. All marks like entry, stop and take profit are marked on the chart. The approach I am using is very simple price action and market structure. No indicators and all that jazz. What I see here is an impulse followed by a retracement. The retracement was fairly sharp which could potentially...

LineTradingPilots

Hi I have made out a nice setup on the hourly timeframe. Again, I am using a very simple price action and market structure approach. The way I see it is that if we can get an hourly close below the current support level the structure shifts back into a bearish pattern - which is in confluence with the overall trend. If this is the case I see my odds increasing...

LineTradingPilots Updated 

Hi I see a nice little short opportunity on EURCHF. My guess is that the support level we see here will be taken out shortly. The last breakout to the upside looks to me like stop hunting. From a market structure point of view we are all over the place as well, setting up nicely for short. Worth a punt with 1:2 RR. Let me know what you think in the comments...

LineTradingPilots Updated 

Getting ready to buy AUDCAD. Market structure shifted bullish PLUS an inverted Head and Shoulder. What confirms the idea in my head is the dip below the support level, indicating institutional stop hunting before going long. All this after being fairly bearish yesterday. Just goes to show how fluid the market is and how flexible we have to be in our...