There's some great profit potential here, however it's going to be a very tricky set up to take. Let me explain.
The gbpcad looks to be hunting out the upper missed monthly pivot at 1.6680. IF and only IF it hits that upper lever FIRST will I take the trade.
If 1.6680 is hit in the next few hours, I'll ...
On longer term time frames we can see that this is likely turning into an inverse head and shoulders, it's time to make that right shoulder, I want to sell that trend line break for the move into 7300 area which would make a good right shoulder.
The entry ideal situation is this:
sell trend line break
Last week I talked about this rising wedge, it flexed it's muscles and we have to expand the wedge a bit, but it's all still very much intact and I'm super anxious to get into this trade short.
Specifically for EURUSD there's ECB news on Thursday and Trump on Friday, sooooo.... I'm looking for end of week to trade ...
OK so Trump, or whoever, caused the markets to go HOG wild this morning, which is cool! We had some nice pips on EURUSD and the first target was hit so that's fine.
This might seem like a long shot, and maybe it is, but we could see the start of a larger pattern forming here.
Here's what I'm looking for:
I might be alone here but I can't imagine going anything other shorting EURUSD, any squeezes higher should be nice entries to sell the rallies.
There's a lot of fundamental reasons behind why I think the EURO is headed down in a major way, blog posts coming on that, for the mean time google it! ;)
To be clear, I ...
I'll keep this short and sweet, I can't see too many other scenarios to be long EURUSD much earlier than parity (even then I think I still want to be short).
Anyway, Massive resistance sits around 1.0500 and we have a monthly pivot up at 1.0580, I will be looking for any reason imaginable to sell this pair at ...
I like to keep these trade ideas simple, here are the areas of entry, where I want to take profit. If you want to know mow about how I came to this conclusion, leave a comment below.
I'm looking for two areas to short GBPUSD:
ENTRY: sell retracement at 1.2530-70 area OR sell break of low at 1.2365
STOPS: if the ...
USDCHF has failed many times around the 1.0200/1.0300 area and maybe now it's ready to go. So far the USD has been beat up to start the week but it could also just be a nice chance to buy some dips and get long again this pair.
I'm looking at these entry details:
BUY: as always looking for trend line breaks to ...
audusd has been oh soooo choppy BUT it has maintained structure this entire time, which is amazing.
We have a clean and clear retest of a larger break out, there is a nice secondary channel created here and I want to sell the break out in the worst kind of way.
I will sell this pair after it ...
NZD has been reluctant to move lower but it might finally be ready if we get confirmation here
short below ascending trend line
stops above recent highs
target lows of 0.6970 area and ultimately 6740 area
I feel like a broken record, I talk about 100 pip trades all day long, the funny thing is 100 pips is hard for some people to make, if you're one of those people then bask in this set up!
1) this could pull back now or lower around the 1.0035 area, either way be ready to short that pull back ...
This is a pretty clean pattern, I got in once already and took some profit. Now looking for a quick move down to recent lows.
WHY I LIKE THIS TRADE:
1) there's a clean clear bear flag, these are great set ups!
2) Symmetry lines up perfectly with past lows (measuring the previous movement against the current ...
I have not been very excited to be short USD lately, I've been riding the trend along with everyone else, here are some reasons I'm looking to trade USD weakness on EURUSD.
1. the 13 year lows around 1.0500 have held very well
2. Short term charts are showing higher lows
3. we're approaching a solid trend line
GBPNZD has been on my radar for weeks and actually MONTHS! I've been waiting for this pair to start showing upward momentum and start pushing higher, it has given us a favorite chart pattern... a bull flag!
ENTRY: I'm looking at 1.7700 area, there are fibs and flag support there, I would like to buy dips with ...
the EURUSD has cratered for the last few weeks and I'm left wondering what may happen as we approach 13 year lows on this pair. 1.0470 (give or take a few pips) is the lowest level since 2003, anytime I see a double bottom happen with nothing nearer than 13 years prior I get curious and I can tell you I'm ...
Yesterday we had a GBPJPY trade that went well, we were looking for 100 pips, it went about 70 before turning aroud, still not a bad run.
Now looking closely at 136.75, this is a nice short term decision point for this pair, a break either direction could be good for 50-100 pips.
See the chart for details. As ...
Pretty simple, we have a rising wedge, great breakout levels and some clear targets.
I want to sell the break of 135.60, stops should be above highs (136.60 area) with a target of 134.20. I know I said 100 pips above but really this should be a 140 pip trade if it works with us a little.
That's it... any ...
This is a favorite trade of mine, it's done on a short term chart (15 minute) and the beauty of it is we use some trend line to confirm entry, if we don't get the break we don't take the trade.
This one is coming up on overbought so watch for a short term trend line break and a move back down towards ...