I have H4 turned long bias and h1 confirmed long bias. Roughly 8:1 long trade with target at 132.60 Trade appropriately for your account size. Or in other words, trade in a way where you can trade again tomorrow.
This trade didn't come together as soon as I had planned before so I have revised it as I still have confidence in this short setup. I have reduced risk on this trade as per my rules and also have given it a little more breathing room with stops above the highest high. Look for a 6:1 RR for this trade with targets somewhere down in the green zone to cover for...
This is a trade I plan to take in the next few hours after it's gotten back up to my entry of ~77.50. Target of 76.85.
As you can see we had a nice trade on GBPUSD a few days ago but downward price momentum is slowing. Eventually at some point we are going to need to trade the Brexit drop. I have mixed feelings on getting long or short but the overall bias on monthly and weekly remains down. I don't plan to trade it long any time soon and will only be looking to short any run...
USDJPY remains bearish on the monthly and weekly charts. We had a nice move up last week but that appears to have failed to break this downward momentum we currently find ourselves in at the moment. This is my current trade on H4 USDJPY and will remain this way until we've retested that low.
I don't recommend attempting to trade USDCAD as it is currently consolidating the strong move downward. For now downward progress has been halted but we are not seeing any strong confidence in the USD. Overall tone for this pair is bearish with weekly bullish. Perhaps good for intra day scalping but don't expect any reasonably strong moves in either direction.
As always I remain skeptical of trading currency pairs that are range bound on monthly and weekly charts such as we find EURUSD. While it does have bullish tendencies I don't have any confidence that this pair will see new highs or lows any time soon. I don't recommend trading it but if you must scalp, this pair remains bullish on the short term charts.
AUDUSD has been experiencing a turn to the bullish side for the past couple of months. It's currently range bound on the daily and weekly but attempting to make new highs. I'm willing to long any pullbacks on this pair until further notice barring any moves from the Fed on NFP.
Based on end of day, end of week, end of month, end of quarter....I feel it's the end of everything here as we failed to turn higher. So in this regard everything must go. Enjoy your weekend folks.
I'm expecting a small correction to the upside on this down leg. Entrance, stop and calculated targets plotted.
Based on prior trend momentum, re-entered on m15 to continue to right the short down to 1.
AUDUSD has managed to close lower and continue on a daily retracement to 0.758323 Overall outlook for AUDUSD is bearish to 0.7351 I've included a Risk Reward trade I plan to take once price has reached my intermediate daily target to the high side.
EURUSD continues to range this week resting at or near support on the daily chart. Since it has no clear direction of higher or lower closes I remain standing aside until the market picks a new direction. Recommended trading action: None.
USDJPY failed to close higher in previous days. Overall trend remains to the short side with overall target at 99.726. Stop above today's daily open.
Based on price action, EURUSD is currently testing the support it just broke on the weekly. Feel free to start getting short again. When this starts heading down in January it could be a quick ride.
EURUSD is in retracement mode back to the daily open price. This is a nice setup for a short bounce trade for a possible 100 pips to the downside after rollover. Trade accordingly.
Based on price action we should see a retest of the previous lower high. Good for 50 pips or so.
This is a chart based on an example of a previous chart I made to help clarify how I trade the daily open. If you would like to learn how to trade this method for free just PM me and I will hook you up with the guys who taught me. This is a free strategy they teach to get you on the winning band wagon. It would be nice if you added me to your friends list too...