we have a bullish momentum on EURUSD. Price was rejected different times from the CTL as you can see, but today we could have a strong breakout (wait a close before going long).
My target could be a weekly long-term descending trend line (take a look to my related idea linked below).
this is a key level to watch for cadjpy.
Wait a daily close outside the ctl before shorting. If the daily candle close is a Marubozu, put a sell stop order few pips below candle's low.
usdcad has just bounced from a weekly dynamic resistance and I would expect a buy for short term.
I also expect a retracement before the next big move to the upside from the ctl highlighted in the chart.
after a bounce from the 18 years old tl, price is now facing a dynamic resistance and a monthly res @ 1.236. The pull back could reach at most the descending trend line (with a 4th bounce).
Wait a breakout in the daily time frame and pay attention to price action to go short!
it's been a while!
GBPAUD on the 12/11 has reached for the 3rd time a weekly downtrend line but we need to wait a good setup to short.
Having said that, we had a 4h uptrend that was broken twice and we had a retest of that ctl with a shooting star/doji at the top, just below a monthly resistance.
Don't u think it's time to short? ;)
this could be a hot opportunity to gain some $.
USDJPY has just touched the down trend line forming a perfect daily shooting start at the top.
The breakout of the counter trend line and a 0.786 fib retracement support my bias.
the pair is facing a strong resistance touching a downtrend in the weekly and monthly timeframes.
USDJPY also formed a little daily uptrend that was just broken after today bearish USD news. Moreover, on the 7th of Nov, price touched a strong horizontal resistance.
On top of that, a possible ABCD pattern is forming with a retracement around 0.618...
as you can see AUDUSD as just touched a bullish trend line. Before going long, we should wait a 4h breakout and close (lower chart).
Price is also facing a strong monthly support @ 0.76148.
this is a perfect time to make some money ;)
We have different confluences to go short on this pair:
-price just reached a weekly downtrend and formed a false breakout
-monthly downtrend acting as resistance (purple line)
-horizontal resistance (dotted line)
-daily shooting star near resistance
-4h uptrend breakout and close
Happy trading :)
we are facing some resistance now but the long term uptrend seems resuming and the breakout of the counter trend line suggests this.
The 0.618 fib retracement is a strong support for the pair but I suggest a stop loss just below the breakout candle for a better risk to reward ratio.