My previous setup worked out well. So again for this pair like I did with NZDUSD I have two plans. The circled area is the one that I am keeping a close eye on which is around the 107.00 price mark. In case of a break out/break down I will follow wherever the price takes me.
As illustrated my TP target is 122.087. Trade already active not much movement on this pair but it's slowly making way to my set price mark if not I will be automatically stopped out or cancel the trade manually.
My current resistance focus area is 0.65876. If price does not break through it then my plan is to go short as illustrated in the chart. I will be monitoring price closely as previous trade worked out well. I still think this pair is trending within range so I will be looking for trade opportunities whether going up or down with these two levels 0.65876-063733.
My initial bias was short from the 12th June 2020 and I have been waiting on price to give me a clear sign of where it wants to go and it has been minimal movement for me so I have decided to come up with two plans as illustrated in case of a breakdown or continuation of the range. The key area I am looking at closely is 0.64130-0.64123.
The first setup was successful, I think the price might still push to the downside as a continuation of the downtrend and I plan to go short but if the price gets rejected by the support trendline then my setup will be invalidated. To review the plan on Monday because the area that's circled will add more reason for me to go short otherwise I will look for a buy...
I currently have an open trade on this pair. Price retested the trendline resistance and got rejected twice forming a double top. I entered just after the double top if not lower and I am looking for selling opportunities all the way to the support level if not midway. If the price decides otherwise next week I will cancel the trade.
Gold has been on a bullish rally for a bit now and throughout all of those rallies the price respected the trendline resistant and the bulls could not seem to push it to its historical high indicating a strong bear hand? Price could choose to continue trending within the range we see on the chart or it could retest the resistance and then make its way to the...
I am observing that USDCAD appears to be tired of trending at the bottom LOL and it's chopping it is way up to the upside. So I am looking to enter the trade only if price pushes to the red candles I have pointed to on the chart if not, my trade idea won't be valid.
There are still other factors I am looking at but longterm bias is LONG.
What do I see?
Price has had a tendency or consolidating before pushing to the upside or downside.
The Weekly and Daily charts suggest price is still bullish perhaps trying to push to it's past hight but the smaller time frames suggest otherwise for me.
I have 2 plans should price decide to break from the trendline I will go long to the upside until the next...
Price is on a strong bearish trend on the Weekly, Daily, 4HR charts. The price might retest the trendline support then push to the downside and if that happens then my entry will be validated to the next support line if not midway.
I initially entered a short trade but I realized that was careless of me so I canceled it. My initial bias was long but I changed my mind carelessly halfway through. I am waiting on a valid entry as per my chart I have two plans.
Plan A - Depending on what price might do If it makes a breakout to the upside I will enter and ride it out as per my TP or lower
I see an upward trend forming within our major trend which could be indicative of where price/the market wants to go.
Price might decide to break through this channel to the side for a short term BUY period and then revert back or break through to the downward and continue with my original bias.
Worst case scenario could be price might decide to do NOTHING,...
Still undecided. Waiting for at least 2 more candlesticks to direct me where I could place trade however price is toying with me.
Plan A- Wait for price to make a few more moves maybe trend downwards? then I'll place a SHORT entry
Plan B- Seeing that it's a trend within a trend price might decide to go up?
Let's wait and see!
Planning to go short post rejection. Minor indication that price might revert to the downside however the daily and Weekly chart indicating long term BUY.
Plan A - Go short post rejection on the first resistance level
Plan B - Wait for rejection on the second level then buy the pullback