TradersClassroom

TradersClassroom

We have finally broken down from the 1.24 level and have found support on a weekly trendline. Could we use this former support as resistance and a springboard to push us down further? I will be very interested if we can somehow get back to that level. Good Luck!

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USDCHF has retraced all the way to the .95 level again. This is a great action area. Either look for price action to put in a pin bar and signal support or wait for the breakout and play the continuation. Watch us discuss this pair and more here: youtu.be

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This pair has breached the 1.10 on multiple occasions but has been extremely weak. We are currently above the 1.10 mark and trying to take new highs. A longer relief pop would set up for better shorts. I have outlined a resistance zone I am looking at. However, first we must sustain price above 1.10 so price action over the next couple of hours, days becomes very...

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Wish I would have caught this sooner in the day but the pair put in a perfect abcd pattern before reversing. I believe there is still plenty of room to run here after a 600 pip pullback this month. www.fxtradersclassroom.com Get our introductory course free with the promo code "fxtraders" www.udemy.com Enjoy the end of the week!

TradersClassroom

Volatility has increased but direction is still unclear in this pair. We are in the midst of a pullback that touched the 1.10 mark. I would like to see a deeper pullback for me to get short again. In the short term I think this pair is directionless but in the medium to long term the bias still has to be to the short side. I'm looking for this pair to clear some...

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Just put in a pin bar at resistance zone. Going short with stops above the resistance area. 3:1 risk reward profile

TradersClassroom

The USDJPY pair has come right back up into an area of resistance and have failed to close above the previous high at 121.83. However, it did break it for a brief moment and put in a new high at 122.01. We have some divergence on this pair which could be setting up for a double top. You can play this one of two ways. You can short it on the expectation that it has...

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This pair is destined for the parity. Broke and closed below 1.05 on Friday. I have four levels that I am looking to sell if we retrace back to them. Only putting a trade on if price action confirms the level as resistance. We discuss this in the Weekend Preview. Check it out here: youtu.be

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EURUSD plummeted last week on the backs of Draghi and NFP. On nearly every time frame we are buried on the RSI which restricts the amount of downside we have left at the current time. We can certainly rally and push further down but I think we are in need of some relief. The pair is current are the 1.618 extension of the latest relief rally. If we use an equal...

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This pair just plunged yesterday and bounced of the .618 of the most recent swing. There is a support zone the is coincidently defined by the .50 and.618 of the most recent swing. In addition there is some former resistance that is now support. A break below 89.50 would expose 89 and below and cause you to reexamine the most recent uptrend. Currently you have to...

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The pair is currently in a overall bullish trend. BOC pushed this pair back down to 1.24 today but the pair continues to bounce off 1.24. Since this wedge formation is in an uptrend it is technically a bullish signal. However, the fact that the pair cannot close above the wedge brings in more concern. The current setup is as follows: The pair remains bullish...

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RBA will decide on their interest rate decision very soon. We are currently near a support level stuck within a range. However, RBA decision could break us out of this range. Consensus is that RBA must cut rates BUT if they shock and keep rates the same we could see a rally into the former resistance area. If they cut rates, we could break the support level and...

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There is a set of three harmonic patterns that are currently setting up on a resistance area. I would expect at least a small pullback before the overall trend continues. If you do not trade harmonics then you may be able to buy dips to get long with the trend. Check out the Weekend Preview: youtu.be

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The pair has recently put in a small rally with higher highs and higher lows. We are approaching resistance just below 1.55. Watch price action as we approach this level. A daily pin bar would point towards a continuation of the overall trend. However, the GBP looks poised to post a larger relief rally. Below 1.55 will keep my short bias but above 1.55 would begin...

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Price is nearing the 4h shelf. I would like to watch price action as it get near. You could set up a long trade with a tight stop and good risk/reward. The 1.24 level marks around a 400 pip pullback since the start of February. Only time will tell.

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The recent bit of consolidation has allowed some really good harmonic patterns to appear on this pair. Price is currently bracketed by three harmonic patterns. I would prefer to get short since it is with the trend and there are two patterns in the same are which creates a confluence of fib ratios. However, if you are a counter trend trader then the butterfly make...

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The EURUSD has two gaps open at once. We don't usually see two gaps open at once, let alone a gap that has nearly 900 pips of float. I think the pair has more room to run but beware the next day or so as Australia has a holiday and the US is awaiting snowmageddon could thin out the liquidity.

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Looking to get short in this pair on a retest of former support/resistance. 1.77:1 on the first target with a move to break even once we get there. Practice good risk management on all trades.