I just entered a short on AUDCAD anticipating a continuation downward after 12 days at mode. Trade should reach target by September 19th
The mode price for AUDCHF has been established at 0.73816 after a bullish turn confirmed via 5 consecutive bullish daily chandles. The pair is also not showing any bearish divergence on the 4H RSI while showing acceptance of support from the trend line after a short lived bearish break (fake out?). Depending on the next daily open being above the mode line I...
EURNZD had 11 weekly mode intersections with the mode at 1.54881 while forming a triangle in a well established bearish trend. A continuation of this bearish triangle break should land the pair around 1.456 in about 11-12 weeks. This is a longer term position to take with a smaller lot size which could have the benefit of the carry trade with New Zealand's...
GBPAUD is near its post-Brexit channel top giving potential for a downward swing and channel continuation. I'm not quite satisfied with the set up enough to enter a pending order yet and will watch to see if the pair stays in a tight range in this area and establishes a good short entry.
GBPUSD is showing bearish divergence on the 4H RSI at channel resistance with favorable PA for a potential reversal. I'm entering using a sell stop order as shown with a 282 pip target and R:R of 3
I do not trade using Garltey patterns. This is purely an experimental/education venture for me. After some studying I may incorporate them into my trading system. Any thoughts and constructive critisism would be appreciated.
EURCHF may follow this interchannel trend support (dark green line) up to its Channel resistance (yellow line) for a potential short entry opportunity in the highlighted area around 1.0916. I'm going to watch the price action in the highlighted area to see if the pair will confirm a downward movement along with RSI bearish divergence. This would likely be a...
USDJPY has formed bullish divergence on the daily RSI as indicated by the yellow lines on my chart. It's near the bottom of its wide bearish channel and near Brexit lows. I'm looking for the pair to break the interchannel trend resistance (black line) to indicate the start of a bullish move. I've used a combination of price action and the 11 period daily ATR...
There may be an opportunity here for a long on GBPAUD given a trend break. The potential for this move is supported by the bullish divergence (illustrated with the red lines). If it breaks the trend resistance (yellow line) The TP would placed in the area where the pair was previously ranging. A reversal here would also serve as a double bottom from post-Brexit...
I'm going to watch for 4H RSI divergence around the D point (which is in the same area as my two trend resistances) to enter short.
USDCHF is showing bearish divergence on the 4H RSI while meeting its trend resistance (yellow line) which it has been rejected from twice previouisly. I'm looking for a break of the current smaller trend support (brown line) to enter a short position on the pair down to the area of it's previous low. To automatically copy my trades subscribe to my system,...
USDCAD is showing bearish divergence on the 1H charts as it appears to be getting rejected from it's descending resistance (yellow line). I have a pending sell stop order set to catch a breach of the local minima. R:R of order shown: 4.39
I'm watching this channel which EURNZD has formed for an opportunity to enter a long position on a bullish breakout likely followed by a retest. The potential is supported by bullish divergence on the 4H RSI. Subscribe to my trading system "PipSqueak" on Myfxbook.com to automatically copy my trades as one of the top ranked AutoTrade Providers! www.myfxbook.com
I entered this trade yesterday as show. I put the SL at a point where the analysis would be invalidated (in this case just above the recent high of 1.31204). Profit has now been secured with the SL moved into profit at 1.29916 (the open of the previous 4H candle). Final TP for 297.2 Pips at 1.27486 is still in place. To automatically copy my trades, subscribe to...
With the unexpected outcome of the EU referendum vote NZDUSD dropped down sharply out of it's channel then retested the channel quite nicely. Depending on how gaps pan out at the coming market open I may position myself as shown for a short on NZDUSD. R:R of position shown: 8.15
I'm going to continue to watch this descending channel AUDNZD has formed over the past month and a half or so. What I'm looking for is a bullish break. It's showing some slight bullish divergence on the 4H RSI and when this pair reverses, breaking a channel it tends to move strongly and quickly. With the current view after seeing a bullish channel break I will...
NZDUSD appears to have be rejected by its channel resistance, creating a lower high after after that rejection. I've entered the trade as shown with a small position to risk less than 2% with the 117.7 pip SL. My target is just above the channel support. R:R of position shown: 3.66
I'm positioned to catch a CADCHF bearish break downward via a Sell Stop order as shown since it broke out of it's bullish channel. The pair does still have potential to move upward, if it does I'll be watching the 6-year old trend resistance (Red Line) to knock the pair back downward for an even larger short than the one shown. Will update this published idea if...