After the RBNZ's decision to hold interest rates at their current level, NZDCHF has approached the top of its relatively tight channel on the 4H chart while showing some bearish divergence on the 4H RSI. I'm looking to get into a short with a pending Sell Limit order as shown down to the longer term trend support (lime green line). R:R of position shown: 5.08
NZDUSD looks like it may retest it's previous channel support around its intersection with some long term fibonacci resistance. Bearish divergence forming on 4H RSI supports this possibility. I'm going to watch for a rejection from teh highlighted area to enter a short on the pair.
AUDCAD is reaching up to its channel resistance. I'm utilizing a Sell Limit order in an attempt to catch the pair at the top of it's channel and short it down to just above the bottom of the channel. R:R of position shown: 3.03
EURUSD broke the trend resistance (blue line) this morning. I'll be watching for the pair to retest the previous trend resistance somewhere between the 1.112 and 1.114 area to enter a long potentially to the 1.135-1.14 zone. Some bullish divergence forming on the 4H RSI may support this position.
AUDJPY has a bit of a descending wedge formed a breakout of which downward could result in a good short opportunity. If I remember correctly some studies on descending wedges show that bearish continuation breakouts between 60%-85% of the way to the apex of the wedge yeild around a 75% successful trade rate. Don't quote me on those exact numbers though. Anyway,...
I've been anticipating this point for this pair for a while now. It's finally reached my Channel resistance point while also showing bearish divergence on the 4H and 1H RSI. I have a Sell Stop order pending with an entry as shown. My TP will be near the channel support (Yellow Line). Total R:R of position shown: 4.78
AUDNZD is displaying some long term bullish divergence on both the 1H and 4H time frame. I'm watching for a sustained bullish channel break to buy this pair up to the 1.09 area.
EURSEK is showing bearish divergence on the 4H chart. I'm watching for a break of my trend support (red line) using a Sell Stop order to catch the pair on it's way down. R:R of order shown: 3.39
Brexit possibility and US economic correction may bring USDJPY down to Monthly 38.2% fib support via risk aversion, rejection of which may indicate a bullish wave possibly coinciding with market correction completion and Brexit fears/repurcussions settling and fading. USDJPY to 130+ in 2017/18? This is a big "shot in the dark", I will not be trading on it and I...
Bearish 4H RSI divergence is still present and the pair has now entered my precieved resistance zone. I'll be catching a downturn with a Sell Stop order as shown. R:R of positions shown: 3.29
USDCHF is showing bearish divergence while approaching my 23.6% fib resistance and long term negative channel resistance (red line). I'll be watching the highlighted zone for a break below my short term trend support (yellow line) to short this pair down to my 38.2% fib support.
GBPJPY is showing some bullish divergence on the 4H RSI in the area of my 100% fib support within a tight bearish channel its been ranging in since late April. I'm watching for a bullish break to buy the pair up to just under the longer-term channel resistance with a position similar to the one shown. R:R of position show 4.08
AUDNZD is showing some bullish divergence on the 4H RSI in the area of my 61.8% fibonacci support. I'm looking for the pair to break its downward trend and break it's local recent high to enter a long position with a TP in a recent consolidation zone. R:R of position shown 3.09.
NZDCHF is displaying some rejection of my fib resistance as it climbs up its intrachannel support (lime green line). I'm watching for a break of this support to short the pair down to just above the channel support. R:R of trade shown: 3.45
I have a sell stop order pending as shown with a tight stop loss as EURAUD appears to be struggling to break this 61.8% fib resistance while showing bearish divergence on the 1H RSI. My goal is to short this pair down to just above the channel support (red line). R:R of position shown: 5.83
EURAUD is approaching an intersection of a mid-term channel resistance and Fibonacci resistance line (61.8%). On top of this it is showing bearish divergence on the 1H time frame and showing potential to develop supporting bearish divergence on the 4H time frame. Upon market open Sunday evening I'll watch for this pair to break the short term trend support (dark...
GBPAUD is showing bearish divergence in the overbought zone on the 4H RSI as it approaches my long term fib resistance along this trend support (red line). I'm not going to enter the trade on a Friday but Sunday night when markets open I'll be watching this pair very closely for a short opportunity.
The pair has seen strong resistance at this level over the past few years. Combined with 4H RSI divergence recently in overbought territory this could be a great opportunity for a huge short or series of shorts. The shown order is pending as a sell stop but I may adjust the order depending on the price action around the trend support (green line). My first TP...