NBent

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About me 20 Years old. University dropout. Full-time currency trader. I trade basic price action context. Clean and simple. I'm not a signal provider. I provide ideas and insight for your own interpretation so you could develop as a trader. Ask questions!
Joined Toronto, Ontario. Canada.
Markets Allocation
88 % forex 13 % other
Top Mentioned Symbols
USDCAD 37% | 3 EURUSD 25% | 2 USOIL 12% | 1 AUDUSD 12% | 1
NBent NBent EURUSD, 240, Short
EURUSD: Join the Bears in Anticipation for the Next Downward Leg
299 4 10
EURUSD, 240 Short
Join the Bears in Anticipation for the Next Downward Leg

EURUSD saw immense selling during the Brexit, traveling over 400 pips in 8 hours. Since then the bulls have only been able to recover roughly 50% of that downward leg over the course of 2 weeks. With the lack of any prevalent bullish moves and with a weak correction currently in play, another impulsive downward leg is anticipated in the sessions to come, ...

NBent NBent USDCAD, 60, Short
USDCAD: Play the Medium-Term Bear Momentum
576 2 21
USDCAD, 60 Short
Play the Medium-Term Bear Momentum

USDCAD has been creating lower lows and lower highs the past week and has offered several great sell opportunities, one of which I had posted a previous idea regarding (See related ideas below). Going into this week, USDCAD has formed a corrective move back into a previous support level, now turned resistance (Roughly 1.2925). This is an ideal area to form another ...

NBent NBent USDCAD, 60, Short
USDCAD: Rejection at Support Turned Resistance
217 0 8
USDCAD, 60 Short
Rejection at Support Turned Resistance

Greetings, USDCAD has been in a ranging environment the past week, in-between around 1.297 - 1.31. After an impulsive leg down, price broke through the support level with strength and since then has created a weak correction back into this role reversal level. This hints at another potential leg down, especially with the rejection candle that formed off the ...

NBent NBent USDJPY, 240, Short
USDJPY: Continuing to Ride the Downtrend
249 5 4
USDJPY, 240 Short
Continuing to Ride the Downtrend

Since mid 2015, USDJPY has seen significant declines--recently hitting the 104 handle. With that said, there is no indication of any kind of slowdown or potential reversals to the upside given the recent impulsive-corrective structure on the daily to intraday charts. As seen on the chart, the red boxes highlight the impulsive moves that consistently create new ...

NBent NBent USDCAD, 240,
USDCAD: Weak Corrective Pullback Hints at Continued Downside
82 0 4
USDCAD, 240
Weak Corrective Pullback Hints at Continued Downside

Since late January, USDCAD has seen a significant counter-trend move to the downside after a sizable bullish run. On it's way down, price briefly found support at the 1.3390 handle (the first blue box) before breaking through it shortly after. After breaking through to the downside, this level got retested twice (the next 2 blue boxes) and met significant selling ...

NBent NBent EURUSD, 240, Long
EURUSD: Impulsive Corrective Series Hints at potential upside
375 5 7
EURUSD, 240 Long
Impulsive Corrective Series Hints at potential upside

EURUSD has formed a series of impulsive and corrective moves that shows us exactly how much power the bulls currently possess. To clarify, impulsive moves tend to be "strong and fast" while corrective moves tend to be "weak and slow". This directly correlations to the strength of each party's hand. The bulls are in control right now. The push from the bulls are ...

NBent NBent USOIL, 240, Long
USOIL: Bullish reaction off role reversal level
271 2 6
USOIL, 240 Long
Bullish reaction off role reversal level

Within a steady uptrend, price initially struggled to break above the 38.5 level. However, the immense bullish pressure resulted in a breakout to the upside and a brief intraday pullback shortly after. Price preceded to create a new high and has pulled back to that same role reversal level (now support). It has formed a notable reaction hinting at potential ...

NBent NBent AUDUSD, 240, Long
AUDUSD: Look to Rejoin Bulls on Corrective Pullback to Major Support
106 0 2
AUDUSD, 240 Long
Look to Rejoin Bulls on Corrective Pullback to Major Support

Very easy setup. AUDUSD is currently in a medium term uptrend. Dating back to early March, the 0.7400 - 0.7420 handle initially acted as resistance. Price then broke through and found support at this same level (blue boxes). Since then, price has created 3 new highs off of this support level (orange boxes). Look for another bounce off of the 0.7400 - 0.7420 level ...

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