Entry - 109.75
Target - 108.19
Stop-loss - 110.53
Short position at the daily 30EMA (green line) and an area of previous S&R (light blue line). Following the 30EMA and 200MA crossover and breakdown at the end of December, USDJPY formed a bear flag. The potential problem here is that long monthly wick from the 104.7 level, but I'm looking for a retest of the 108.1...
Entry - 0.96900
Target - 0.96540
Stop Loss - 0.97145
Looking for a continuation down on USDCHF off the 30EMA (green line) and Ichimoku Cloud on the 4H chart. This is one of my more reliable set-ups. Looking for a retest of the area of the previous low at 0.9654. Stop loss is above a minor area resistance area and in the Ichimoku Cloud.
With a break above a trenline, I'm biased on a continuation upward. Cheaper oil, NAFTA uncertainty, and tariff disputes are driving this push up. I have a small long position open, but am expecting a retrace to the 1.305 -1.31 level which is the location of the trendline, 30EMA (green line), and 200MA (blue line). Ultimately, my target is 1.329.
NFP may throw a...
Entry - 130.045
Target - 129.48
Stop Loss - 130.41
EURJPY has had a run. I expect a brief correction off of an area of resistance (light blue line at 130.23 drawn on a monthly chart). 200MA (dark blue) and 30EMA (green) lines had just crossed. The Ichimoku conversion line (orange) is the only thing preventing a retrace to my target at this point (besides pure...
Entry - 0.7274
Take Profit - 0.7144 - 130 pips
Stop Loss - 0.7342 - 68 pips
Lowe made it clear that not only is RBA OK with a weaker Aussie, they are welcoming and expecting it. Plenty of AUD bulls are trapped on a long push following news that CNY will be propped and are ready to continue to buy (Myfxbook has 81% long). I have a (very small) short position open...
TP- 0.9876 - 38.5 pips
SL- 0.99445 - 30 pips
Looking for a brief, trend continuation trade on the USDCHF 4H chart. Price has broken through short term support at 0.990 zone and retesting the area of support as well as touching the 30EMA line (green). Looking for another retest of the 0.9876 area of new support.
Stop loss above the 200MA (blue...
Target- 110.51 - 31.5 pips
Stop Loss- 111.115 - 29 pips
I am bullish biased for USDJPY in the long run, but I'm going to take a short scalp-ish position at 110.8. I'm basing this decision on the length of some of these recent wicks on the 4H chart, generated by the failure of the price to close above a strong resistance line and ascending...
Entry - 1.329
Take Profit - 1.32 - 90 pips
Stop Loss - 1.33575 - 67.5 pips
I don't usually like to trade against the trend, but the reaction following the CAD CPI/retail data has me thinking it's time for a correction. The price jumped off of terrible data, but fell back below my significant level of S&R (1.329 - light blue line). The long wick on the weekly...
Entry - 127.64
Target - 126.9 - 74 pips
Stop Loss - 128.1 - 46 pips
The risk to reward on this one is a bit better than recent trades. I'm not currently in the trade, but I do have an entry short off of the Ichimoku conversion line (thin green line) and area of previous support (light blue line at 127.695) on the four hour chart. I'm hoping the 30EMA sinks at or...
Entry - 130.235
Take Profit - 129.44 - 79.5 pips
Stop Loss - 130.815 - 58 pips
This is another trade with a less-than-ideal risk/reward ratio. On the four-hour chart, I'm looking for a bounce off the 200MA and previous area of support (now resistance). You'll note that the 130.235 had been an area of interest previously, but I had drawn this line on the monthly...
Entry - 108.38
Take Profit - 109.28 - 90 pips
Stop Loss - 107.88 - 50 pips
Straight away, you'll notice this is not an ideal risk to reward ratio, but I've found the 30/200 pinch to be somewhat reliable in my back-testing. On the 4H chart, price has appeared to have made the turn for an extended reversal. The 200MA (blue line) has been breached and we're...
Entry - 1.1755
Target - 1.16555 (120 pips)
Stop Loss - 1.18505 (75 pips)
This is a trend continuation idea for EURUSD. While some USD Pairs (AUD, CHF, JPY) appear to be at an inflexion point for a potential correction, in my opinion the Euro should continue this bearish cycle. I define a downtrend on a four-hour chart when the price is under the Ichimoku cloud,...
I'm not going to overcomplicate this one. It looks pretty easy. Huge daily bearish divergence with a head and shoulders pattern. Targeting the previous support line:
Stop Loss: 1.20540 above the right shoulder
Take Profit: 1.17140 at or near previous support
Keep it simple. Good luck and thanks for looking.
This is a bit of a counter trend trade, but I've had a number of signals indicate EURCHF is due for a correction. My risk/reward if fairly large here. I'm predicting only a ~100 pip short target, but in my opinion, this is a fairly conservative target. I will revisit this if my take profit is hit to determine if a longer term sell is likely.
Position open at...
This is probably a long shot, but ultimately, I'm looking or the price to retest the 0.72950 level for a short position. To get there, price may jump around and potentially form a butterfly pattern. Harmonic patterns are useless to predict until at least the C leg, and we aren't even there- but hey, that's what I'm doing.
I'm looking for the price to react at...
NFP pushed NU skyward in what appeared to be a stop loss grab. This pair has been on a steady rise for some time, but it appears that a medium-term correction is in the works. I'm looking at multiple timeframes and will post additional charts below.
Looking at the daily, we are up against a descending trendline and a double-top. The RSI is signaling overbought....
This is risky, considering the strong wave of USD weakness, but my risk to reward ratio is very favorable. This trade has already been triggered at the entry level and is active. I'm basing my trade on technical, but also on a past support zone and the psychological level of 1.12.
To the left of the chart, you’ll notice some vertical blue lines, which identify...