I have pointed out some basic but very strong technical indicators that keep me bullish on this pair for the coming week or weeks, yeah I know the EURO is week but so is the NZD in the past weeks the question is which one is weaker, we have seen a nice change of mentality to a more risk averse on in the last few weeks and I expect this mentality to endure for a...
The red arrows show possible outcomes if the minor green channel forming an uptrend (blue lines) in the channel was broken we would have taken a short position, but the uptrend channel(blue lines) was held so the long position was what held. I hope that makes some sense. My channel is in red from my perspective, i left yours in green
Long on retest of previously btoken green trendline this is a long term trade.
it has bounced of new trendline and also resistance(watch for price action of retest of green trendline for long entry or short sell continuity
VEry Nice hidden bullish divergence on this pair I am prepping to go long on a break of the green trendline and a follow up reversal to it.
Three step process will be
3.buy a long position
I will usuall take this in conjunction with a euraud short if it plays out.
trade number #16
There is no doubt that the Pound is simultaneously taking out stops and also making people profits. Alsos it is clear that this currency is very strong due to it constantly making new highs. When will it start to go down?? I dont know. Where do I think it is going now?? UP, UP UP.
I have done a simple analysis with trendlines showing its overwhelmingly upward...
Long on close above trendline and 0.764 Fib. The pennant break to the upside is also a good sign that there is more upside to come. I expect the upside move to be equal to the pole of the pennant represented by the red arrow.
Enter Long once the 1h closes above 0.764 and set TP to +140 pips of original Entry.
TP 1 as usual is 55% of total TP
I am looking to sell a bounce of the upper minor trendline in green as a probable scenario for a short. If a break occurs on the green minor upper trend line I will go long on a retracement back to it and close for a short position of the bounce of other minor upper trendline represented in red.
Keeping my eyes open as I dont have a defined entry point. Follow...
AUDUSD and EURAUD made sudden retracements today after massive drops owing to the employment change. On this one hour chart I have drawn some hidden trendlines that meet up at a point to form confluence with the 161.8 fibonnaci extension. This is a good point for the retracement to stop and the current downtrend to continue in its direction. SImple but effective...
Nice TL break on both the rising price and momentum TL for a short with good RR of 25%:75%.
Journey to 100 Update
No of trades:5
No of Pips : 476
EDIT : Stopped out of the trade due to funny news from FOMC :( . More to come
Scenario : Long
- Looking for a bounce of the blue trendline, followed by a break of the red trendline, with entry upon reversal to the red trendline. This reversal will have to be spotted on a lower TF. I think this scenario is highly improbable seen as CADCHF and USDCHF are about 90% correlated with this being a slower less reactive version of USDCHF
This is an update to the trade form last week that can be found here i am currently in it but this gives a second chance for entry to a potentially profitable trade.
Scenario : Long
- A break of the green minor descending trendline followed by a retracement to it is a good point for entry. Targets will be set at
SL is 1.6550
TP is open and...
Scenario : Short
- A break of the blue trendline which is better represented on the 4H chart will support my bias to go short and i will be looking for. This line has acted s good support for the rising trendline and a break of it will mean further down to the green major trendline. A hidden bearish divergence is also worth mentioning as this...
Quick short play on USDCHF. if you have been followiing my trades you ll see i trade the same patterns. Simple is better. Down to the Analysis. Trendline bounce on major Downward TL with bounce on upper TL. Hidden bearish divergence also formed on momentum indicator. Pinbar has also formed on 38.2 Fib not shown on chart. Looks like a nice short set up.
After break of minor rising TL trapped in the Major TL on 4h I am going short EURUSD I have been waitin on this move for a while since it supports my general view on EUR pairs. Some hidden bearish divergence on 1h was also included in my analysis unfortunately i dont know how to share multiple charts so I can show it.
Entry Exits and Tp are all indicated on the...
Waiting for a bounce or break of the red trendline. depending on the scenario I ll go long or short, if a bounce occurs I'll be looking for a potential break of the rising lower trendline for a short. If a break occurs I ll be looking for a retracement back to the red trendline for a long position. This trade should materialise hopefully by wednesday. I ll also...