Nobody knows what will happen next but we trade on what the prices provided to us.
The AU scenario made a shift short upward momentum in H4. It happens previously with a series of attempts to trade above 200MA but this time a likelihood of success by way of its crossover is high. The prices traded above 100MA and making a swing high to main 200MA.
The entry is...
We are looking for short range back up to main reversion with an RR of 1:2.
If the price move up to 200MA (D1) level, we will adjust the trailing stop to breakeven. There might be some price rejection with that level as it is trading below 200MA on Daily Chart.
Caveat.
We will be watching around the area from 1.14423 to 1.11872 levels which is somewhere in confluence to 50% FIBO level and 200MA.
We will anticipate the trend to start from that area if the price react successfully and hold above 200MA.
The 1.25460 level will be the breakaway point or the price will form a head&shoulder pattern at 1.20271 level.
Caveat.
We will wait the price to reach back at these levels as these could probably the exhausted rally from the breakdown of 0.8730 level.
The target will be 0.847 level.
Caveat.
We are looking for short around to these level 1,2 & 3. We will observe the price action when it reaches to our levels. We will gauge its strength by examining down to lower timeframe price movement.
Our initial targets might be fall within the area of 0.77439 and 0.77277 levels.
Caveat.
The price broke the 89.000 level. Closely monitor the price action if it recovers and closes above 89.000 level.
We will use the aggressive time frame -15min.
Our levels defined at area 1,2 & 3 which we consider a high value area to short.
The trend may changes its direction as it is getting weak in daily time frame chart.
Set your own targets and stoploss.
Caveat.
The price is just too strong for levels 1 & 2.
Will continue to watch the price in between 2 , 3 & 4 levels where probably hold as high value area to short.
This is a countertrend. The price reached to somewhere where buyers might start shelling their profit and sellers might push down further.
We have targets around 1.680 and 1.670 levels.
Countertrend to Trend...
I am looking at these potential high value level to short GBPUSD.
The price could probably reach down to 1.27451 level based on higher timeframe.
Caveat.
I will look for opportunity to short this pair.
Area (A) and level (B) are my option to short.
Have always your SL and targets because I don't usually put a target at all.
I will just follow the price and constantly analyze its latest actions.
Caveat.
I posted last week about my setup to short for EURGBP and here's the link:
I have actually taken these setups and I got one loss with tight SL and my entry was at 0.89104 level.
I wasn't able to monitor the second setup were the price has just touched up almost exactly at that level.
I cant remember how many times I have encountered these kind of price...
A possible high value area in between level (A) and (B) for USDCAD to short.
Sell setup 1 @ 1.28519 or nearest level with tight stoploss since the candles nearest to that area are seems like tightening its bodies and more likely to test to sell setup 1 level.
And we have sell setup 2 if sell setup 1 will fail with stoploss above 1.2923 level.
The target levels...
Possible level/area to short AUDUSD.
A possible immediate resistance at 0.77210 level but we are more interested at area for Sell Setup 1 and Sell Setup level 2.
Risk will defend in your appetite. In my case i will execute my trades, one at Sell Setup 1 with tight stoploss and the other at Sell Level 2 with stoploss above 0.78971 level.
I have to make sure in...
A little bit late to short at level (1).
This is my actual trade execution.
Entry @ 0.89089
StopLoss @ 0.89332 just above level (1)
Target to daily timeframe.
Caveat.
I got 2 setups to Long Pound Aussie.
After the price broke the trend line, we retrace where could probably the price will hold after a short sell. Thus, the most probable area likely to hold is (A) and the next is (B).
Caveat.
I got potential 3 setups to short Pound Dollar and my target price to defend at around 1.7210 level. Set trail stop to manage risk and scale-in down to H4 impulse to maximize the profit.
