TrueNorthTradingFX

TrueNorthTradingFX

Hello Traders. I’ve seen a potential short coming on EURAUD after we are in such over bought territory that some sort of sell off has to come. We are getting nice price action now on the 4H timeframe indicating that we have some rejection off this current resistance of 1.81400. A pullback into the 1.78500 region looks possible followed by a move back up to...

TrueNorthTradingFX

After yesterdays flash crash we have now seen price settle into its calmed waters once again. Technically we have lined up beautifully for a short opportunity, rejection of old support and now acting as resistance and holding firm. We also have the fibonacci retracement in our favour as well. We have seen a clean shooting star 8hr candle and on the last 4hr and...

TrueNorthTradingFX

GJ is now at a potential short position approaching a descending trendline and were seeing a slow down in buyers in the market indicating a potential short in coming. See this pair pulling back down to 141.500 level before a move either back up or break below. Will keep you updated

TrueNorthTradingFX Updated 

We are near completion of a retest to 1.30000 key level which was support now resistance. Room to fall with a potential 200 pip target in sight at the base of the ascending trendline. Awaiting price action confirmation on lower time frames such as 1H and 4H. Will keep you updated if trade becomes valid.

TrueNorthTradingFX Updated 

We’ve approached the daily descending trendline for a 3rd touch and today’s daily candle has seen a slow down in the bullish momentum giving us a bearish spinning top/Doji. Also seeing rejections on lower timeframes off the trendline. Let’s see how this one plays out...

TrueNorthTradingFX Updated 

We have set new highs on GBPNZD, moving past current resistance of 2.02050 on 1H timeframe. plenty of room to climb to first target of 2.03900. Bearing in mind we have NZD rate statement 01:00am BST Wednesday morning. If we can go into that news announcement with stops at breakeven we could bank some serious pips if the fundamental news goes NZD negative

TrueNorthTradingFX Updated 

Price has retraced to the 1.45000 support area aligning with the 61.8 Fibonacci retracement. We have seen a huge bullish engulfing candle on the 1hr time frame and we’re heading a for bullish engulfing on 4hr time frame. Targets of a resistance next in line at around +120 pips. Will keep the post updated

TrueNorthTradingFX Updated 

Price has now retraced back to the 1.70000 support after breaking last week. We’ve now had the break out of the consolidation rectangle I’ve drawn up. Long trades are now looking supportive on H1 and H4 time frames

01:25

TrueNorthTradingFX Updated 

price has reached the strong 1.95000 level which is acting as resistance. We are starting to see exhaustion from buyers and sellers now coming into play on the 1H timeframe. On course for a 4hr bearish engulfing candle so will be looking to see how price action looks on this 4hr candle close before possible entry.