Looks like what I was expecting is coming true ....
Two pinbars might be the beginning of a bearish trend
The second and logical trade setup is AUDUSD. Here, we have a very similar scenario as with the NZDUSD. There is a bullish engulfing that formed on the daily. The price action engulfed two red candles, which gives even more significance to the setup. If there is a small retracement back to 0.7900 and I see a price action confirmation, I might act on it.
Today’s trading setup is coming from NZDUSD. I am looking at a potential long entry. The daily candle is a nice bullish engulfing. As you can see form the chart, it is just above the support level at 0.7200. I will be looking for a short retracement and possibly a long trade. My hypothetical stop would be placed just under 0.7200. As a first potential target I am...
Hi there, I don't usually follow chart patterns, but this one looks pretty decent:)
Looks like the pinbar on the daily might lead to some losses, or maybe the beginning of something biggre
Looks like S&P is getting ready for a change of direction
After a second re-test, DAX continues lower
After one more re-test, Gold is getting ready for new heights
Today, I have spotted another possible short setup. Not very surprisingly, it is coming from the EURJPY pair. The daily chart has printed a rejection and I will be closely inspecting the intraday (4H) chart. Together with the Thursday’s candle they form a bearish engulfing formation. This is giving further confidence to the short sellers. I will wait for price...
Today’s trading setup is coming from GBPJPY. The daily timeframe has printed a huge bearish engulfing pattern. The weekly candle is almost finished. So far, there is a pin bar that formed just below a major resistance area. The price action of tomorrow will confirm this candle. I will be looking to possibly short this pair. The potential might be huge. I am...
Hi all, I am looking for a potential reversal here (although for the very short term). Let's see if the price will manage to hold over the support level :)
The setup I am watching this morning is the USOIL. It seems like that oil is getting ready for a dive. I am seeing a bearish pin bar on a resistance level. I will probably be looking to enter in a short trade around 47.15 if the market conditions are favourable. Thinking of placing my stop loss probably above 47.80. My first target could be the level of 45.80...