OANDA:EURAUD Daily chart shows strong support zone. There will be a test of the upper red sell zone, followed by a retest of the support line the 1.61335 level.
Be sure to look for confirmation candles in the 1H - 4H TF. if the support breaks that a big drop. So, calculate risk accordingly (~1% - 2%).
We are looking at OANDA:GBPUSD on a monthly time frame to visualize the nice support that is being respected by price action. If the month closes in the doji we can expect an initial push towards the 1.32 level.
The 0.36 level of the trend-Line fib time is on the Doji which is additional confirmations of a potential reversal.
Look at for a 4Hr confirmation in...
We are looking at USDCHF on a 4HR chart. You can see price action respecting the resistance zones from daily and 4hr trendlines. If the price breaks the current support trend line we can expect an initial drop to the first support zone and maybe down to the support line of the daily trend.
We are looking at OANDA:USDCAD on a 1 hour time frame. We see a candle test the resistance zones followed by a doji candle with a major wick. Then there is a marubozu candle engulfing the previous other candles. This is a strong signal for a reversal (as we are experiencing now).
We are looking at OANDA:USDJPY on a higher timeframe to see how price is reacting to the structural support zones. We see that the support zone was testing and respected again for the 3rd time. This will create a bounce in the upward direction.
We are bullish on the FOREXCOM:CHFJPY pair the market close of last week respects the relative daily support zone around the 107.820 level. Upon hitting the completions of the pattern we will prepare a sell zone with the first T/P being the white line.
We will close the trade in a loss with a ~2% at risk.
We are currently trading the 4th leg for the possible bat pattern. The OANDA:NZDUSD is already approaching the relative resistance zone. We will conduct a short on a confirmation candle for trend change with initial T/P targets near the 0.6375 range.
Total Risk ~2% on this pair.
We are currently trading OANDA:XAUUSD on a short due to double top toward the completion of a possible bat pattern which would test a relative support zone. We will prep T/P zone near the support. We will trade the bat on a candle confirmation.
We are risking close to 2% total for this commodity.
We are shorting OANDA:USDCAD towards the completion of the Gartley pattern which rests on the relative support of 1.31.
We will close out the trade with T/P and prep a buy on the completion with positive candle confirmation in the green buy zone.
Total risk: ~2%
OANDA:EURNZD we have one short position, we hedged the trade with a buy order (trading possible bat).
We will continue the short as the candle test relative support. The current candle formations are signaling for a push upward.
Hedge Risk is less than 1%. Short term trade.
OANDA:AUDJPY We have 3 positions opened all in profit. We will move the stop to entry for that opened at 71.40 and the remaining two their total risk is less than 2%.
On the completion of the bat pattern, we will short with confirmation candle.
OANDA:GBPUSD We have 3 positions so far: one opened @ 1.2072 (in profit), one opened @ 1.2057 (in profit), we will move the stop to entry for these two positions to break even.
We have on position opened @ 1.2167, in loss now, we will put its stop @ 1.1980. I currently see resistance on the 1.2176 level. If that is broken then we should expect the move upwards...
The broke the descending trend line and is testing major support 3 times with teaser pop and doji candles forming. These are great indicators of a trend change. Assuming the trend respects the support the bat pattern will form and we will take profit prepping for the short. We will wait for a candle confirmation before shorting.
However, we are risking ~3% on...
OANDA:USDJPYusdjpy: We currently have two positions bought 105.90 and 105.95—- both in profit, we will move the stop to entry. The 3rd position that we have is bought and 107.40 without stop, opened on 1 Aug, before applying our strict risk management strategy.
We will Prep our T/P zones and short on the completion of the pattern waiting for four our...
We are currently long on OANDA:NZDCAD. The price action is testing major support zone and previous daily support zones. The closing of a hammer candle is a positive indicator of a reversal as well.
If the trend does reverse we will close nearing the completion of the pattern. There we will prepare a short on the confirmation of the trend change.
However, if we...
OANDA:GBPJPY is signaling a possible bat pattern. We will short on the completion near the sell zone.
We are currently in a long position getting ready for a short.
We are risking a little over 1.7% on this pair as a whole 1:2 risk-to-reward ratio.
Similar to EURJPY, OANDA:USDJPY is testing major weekly and monthly support. If respected we can expect a major move upwards. However, this is a stronger and tighter support zone.
RSI and Stochastic are signaling upward moves as well.
T/P Zones will be updated shortly.
We are risking a little over 4% total on this pair as a whole 1:2 risk-to-reward ratio.