another opportunity on this glorious sunday. AUDNZD has rejected a horizontal resistance zone with a double top.
Price has decelerated and has formed 2 hightests, a tweezer top setup. Furthermore the overall weekly trend is bearish aswell.
Target is the next support zone, the stop is above the weekly 0.618 fibonacci retracement level.
hope you had a nice weekend. At the start of the trading week GBPCAD presents itself with a long opportunity. Price has found a bottom at the weekly Fibonacci level and has closed as a lowtest on friday.
We have bearish MACD Divergence and a potential H&S Pattern, however with 5 confluence factors and prime deceleration I will take a position.
today I got entered on a outstanding order I put in on the 16.04 after the Hightest occured.
A bit of negative confluence is the chopiness prior to the occurence of the hightest, however the path of least resistance on this pair is to the downside.
With overall 5 Confluence factors this is another B type setup. I would've loved some bearish MACD...
if today's candle closes as a lowtest I will go long on GBPCAD.
Overall another B Type Setup with 5 Confluence factors, as shown on the chart.
Target, entry and stop will be as shown on the chart.
Best wishes and happy trading,
Hi guys, forgot to post this setup at the time of entry because it was frickin late.
It was a double top setup on GBPUSD on the 13.04. With 5 confluence factors for this trade it is categorized as a B Type setup.
Sadly I was closed out the next day for a full loss of 1.00%, nevertheless it was a good setup, losses are just part of the game of trading.
The busy week continues, I just put in a buy order on AUDUSD as shown on the chart. Price has broken out of a horizontal resistance/support zone aswell as a trendline which is part of a rising wedge, it has now rejected the top of the zone twice in the same day and decelerated.
I don't like the 50 EMA being in the way and getting rejected. I am also...
another day another trade. Quite alot of setups this week so far. Today I'm going to put an entry order on GBPNZD.
Price pulled back and formed a double bottom, rejecting the 50 EMA aswell as the 0.618 daily fibonacci retracement level.
As of the time of writing this price has'nt closed above the daily 0.5 level yet, if the day should close above it...
coming from a slow week last week we are now getting another setup. USDCHF is retesting the recent horizontal support zone with a lowtest, while also rejecting the major 0.5 Fibonacci retracement level. A 50 EMA retest would've been awesome, but this price action is enough for me to justify an entry. With 5 confluence factors this trade is a B in my...
Hello guys, just to show the whole record for this month, UKOIL Long closed today, for a net profit of 2.03%
A simple break & retest setup with 5 confluence factors putting it into the b category with a strike rate of round about 50%. The target was set below the next horizontal resistance level, due to potential bearish MACD divergence. I also took a loss on...
Good evening guys, EURCAD offers us a B-Type Short Setup (5 Confluence Factors). Price broke below support and has now retested the 50 EMA with a hightestish type candle which also rejected the 0.5 fibonacci retracement level.
Keep in mind though that the run is pretty overextended, which is the reason why I would take profits above the next horizontal support...
NZDUSD broke out of a descending triangle pattern and has now retested the trendline with a lowtest. Furthermore it has also retested and rejected the 0.5 and the 0.618 fibonacci retracement level. Icing on the cake is the retest of the 50 EMA. With 6 confluence factors this trade is a grade "A" trade in my trading plan, which has a strike rate of roughly 66%. The...
a little update to the trade idea I published earlier last week. Today we had a major bearish day for the EUR/USD, does that mean we can short now?
A unexprienced tradre might think so, after all we got strong bearish momentum in the market today. However as a good trader we wan't to establish a portfolio for our trade idea. So lets look at other...
today I want to show you how I trade countertrend, piecing multiple timeframes together. Keep in mind though, that generally speaking the sentence 'the trend is your friend' is always true.
However when it comes to specific timeframes one can make use of particular price movements. Such as in this case.
As you can see the EURUSD recently had a strong...
Hello guys, this is my first published Idea.
This is one of my favorite setups, a double top with deceleration at strong resistance. The EUR gained strength against the CHF however it seems that the bears will soon begin taking over.
Looking at the higher timeframes such as the weekly and monthly, price is still overall bearish. Keep in mind that the recent...