Another entry which faked us out before smashing TP! Again, similar to EURCAD, waiting for the next lower high to form. Only a 1;3 RR here. However, if there is a complete break through of the 1.00 fib level, the next support comes at 1.90 which is 600 pips away!
Faked out on this should have taken 8%! Clear continuation of structure with lower highs forming off every Fib level. Waiting for the next pullback.
Bearish moves this week. Lets see if the trendline holds and moves back to the fib extensions to complete the H&S forming.
Took a good 4% off that wick spike. Consolidation after the huge bearish impulse move seen last week. Eyes on the break and retest of the fib either way.
Again seeing the retest we asked for on Sunday just waiting for the bullish confirmation. Less likely to take this trade due to a bad RR with over a 100 pip stop loss.
Seen the break of the daily resistance and seeing the retest. Just waiting for any bullish confirmation before entering.
Weekly Descending channel within a daily descending channel. Price shot down after breaking the daily support and now looking for the retest before further downside continuation. Longs to retest the top resistance and top of the descending channel but bear in mind highlighted blue area where daily 800ema lays. Downside targets the huge 1.30 psychological level!
Looking for a break of the 105 support area to test the fib extensions and lows of the descending channel. Closure above current price sees 106 and the fib area tested before potentially a move higher to 107.
Head and shoulders played out perfectly last week but didn't enter due to the 61.8% fib level just below the neckline, now it's time to see if that is retested and holds for further shorts to the bottom of the Fibonacci Retracement. Note price has stagnated around the 4hr 800ema! Could be key so if shorts are taken from the above scenario then profits may be...
Even though we have a descending channel with clear lower lows and lower highs, it's important to have a plan for long and shorts. Longs are valid with a break of structure and a push above 38.2% fib level but highly doubtful. Europe Covid continues to surge and CAD is backed by surging oil prices. Also add the 3 EMA's forming just above price and take into...
Technicals we can see: Long term ascending channel with one minor fakeout. Note 2 different Fibs plotted here as I think they're both as equally important.The daily Fib plotted with the 0 at the daily resistance which was broken on the 21st August shows the -23.6% level lining up perfectly with the previous highs before last weeks drop. Shorter term fib plotted...
Currently trading between the monthly support & resistance (marked up in pink) which gives a huge zone to take entries. Last week saw a 300 pip drop, are we due a correction or will the AUD rally continue? The reason we saw such a huge push was due to the consolidation area. The longer the consolidation, the bigger the impulse! Targets will have been the previous...
Aussie is messy this week. Technically in a long term ascending channel but all eyes to see the retest of the broken trend line and 4hr consolidation zone. Buys on the retest holding with 200 pip target to 0.75 for the third wave of price action. Sells on break of trend line down to the daily ascending trend line and potentially the 61.8% fib extension.
Last week saw AJ break the rising wedge formation with a clean break through the weekly resistance. Price broke through the bottom resistance turned support strongly but failed to close above the next daily resistance. However, now it has moved above its daily 800ema, upside bias is favoured. LONGS applicable with a close above the 0 fib &78.00 handle with...
Executed the below, got wicked out at Breakeven. Trade went on to hit TP for a 1:5 RR on a simple break and retest of daily support.
Took the below trade all the way to TP for 6%.
Intra day view not the scalps we took (even though they were all bullish and in the right direction) said we would only execute buys above the blue weekly trendline and strong resistance area. Took that this morning and just got wicked out with price now back at entry. GJ to continue bullish to 145.