MtxTrader

MtxTrader

So we have a downwards channel, and price was around the resistance TL when markets closed on Friday Additionally, the indicator at the bottom, which works similarly to a stochastic in terms of overbought and oversold, is overbought. The best time to sell while the indicator is overbought, is while price is moving downwards and retraces upwards. Depending on...

MtxTrader

Yesterday I bought this pair from the support trendline, and it hit my target. Now it's at the resistance, so I'm shorting, stop loss above the high to ensure I don;t get stopped out by a takeout or by larger institutional traders and brokers taking advantage.

MtxTrader

Price has gone up due to USD weakness over the past few weeks, (Thanks Donald), but now price has reached a price action resistance zone, and some fibonacci retracement levels. I will be waiting for bearish candles on the daily/4h time frames for short confirmations.

MtxTrader

Interesting setup here, and it supports several other setups that I've just published as well. On this chart, is an approximate support trendline drawn from last week. Now, when this week opened, AJ gapped down, but was able to fill the gap before the 4h candle closed. With the following observations: 1. The gap filled, so no need to worry about that...

MtxTrader

As we can clearly see, price has been bouncing between the support and resistance roughly. After price went down to support last week, a doji candle formed - indicating indecision. Also, notice how AUD is temporarily weakening, especially seen in AUDUSD and AUDJPY. Stop Loss and Target may need to be adjusted according to market fluctuation and news.

MtxTrader

So far, this is only a theory as the second shoulder has not been formed yet. If I do see this pair starting to weaken, I will sell with a target of near the support, around 0.7300. Although two possibilities are mapped out by the red arrows, the green lines show where I think price is likely to move.

MtxTrader

A support trendline that is being tested once more, It seems to me like it will break it and drop to the 1.42s area at least. Waiting for confirmation, then shorting soon.

MtxTrader

Discounting the fact that this could turn into a head and shoulders formation (it is not completed yet), this is still a pretty solid position to take to short. Not only do we have a touch at resistance, but an instantaneous rejection and a minor bearish movement immediately on the smaller time frames (see 5m, 15m, 1h). Especially with the gap up that was not...

MtxTrader

On the 4 hour chart, we see the market ranging between the low 115s and the 114s, So I established a trendline support and resistance, and will be shorting this pair now. Markets just opened with a gap up on this pair, I've seen this familiar setup, where market opens to retest the resistance from last week, and then continues down, to close the gap. Keep in...

MtxTrader

Once again we have price making contact with the support trendline of the channel as seen above. I am waiting for a bullish candle on the daily TF to confirm my long position. Blue arrow shows approximate target, slightly lower than 1.3581.

MtxTrader

The time has come to buy this pair once again, in case you missed the first signal several weeks ago. Price has met a season support trendline inside the channel on the daily time frame. I would say to wait for a strong daily bullish candle to buy, but NFP will be released within 15 hours, so maybe buy now and place a stop loss around the 1.31 area.

MtxTrader

I move the arrows around to fit the timing of the setup, but otherwise everything is the same. A short from the area that price is currently in is a good setup, once a strong signal forms either on the 4h chart or on the daily. Target initially is the low 1000s.

MtxTrader

On the weekly chart, I see something that resembles an inverted head and shoulder formation. Price has broken out of the neckline at 51.59 area, and seems to be retesting it this week. I expect a bullish run at least to the range of (59 - 61).

MtxTrader

Price initially broke through the support trendline as seen above, and then retested it last week in that bullish candle. As it stands right now, price is going side to side around the 2015 lows of 1.05624, but my guess is that it will be going much lower.

MtxTrader

We have a downtrend from the 1.13 area to 1.0236, and within it there is the first shoulder, the head, and the second shoulder, which I believe has already formed. The red resistance at 1.0760 is the resistance neckline, which when broken will initiate a long position up to 1.13, the major zone of previous resistance On the daily/4h time frame there is a...

MtxTrader

After considerable Yen weakness, xxxJPY pairs rose hundreds of pips. It seems like too unsustained of a move to me, so when such a strong short setup appears as shown above, It seems a very good opportunity. Price reached a significant horizontal resistance zone Price has made contact with the resistance trendline and shown a spinning top (inverted hammer?)...

MtxTrader

Still a viable position from last year, stop loss and target shown. Simple short following bearish rejection from resistance, USD weakness. Wait about 12 hours from this post before trading, low volume, I would advise against trading.

MtxTrader

Price is reacting with a long term Fib level at 1122.84, and moving up to the mid 1170s. Around the 1170s we have an overlap of two fibonacci retracement levels, and a horizontal resistance level. After a decently strong bearish candle closes from this resistance, I will be shorting gold with a target of 1135, and a second one in the high 1000s as price makes...