Price has been moving in this channel. Support has been reached and a pennant has formed on the 1H at this key area.
If price breaks and closes above the pennant & the SMA21 and EMA8 cross then i'll be taking the long trade.
I'll be placing my first target just before the strong resistance level, if this is broken then there is potential for price to climb to...
I entered this trade on Monday, but I now believe now is the best time to get in.
Price has hit resistance at significant trendline (red line) around 0.618 fib retracements level.
There is also extra resistance confluences as you can see indicated by the arrows. Price has rejected this region 3 times on the Daily timeframe.
Short trade, but keep an eye on...
NZDUSD on the daily chart, approaching key area of resistance, whilst approaching the 0.618 fib level.
Not the clearest chart in the world but i'm currently on a beach in thailand using my laptop, so apologies!
What are your thoughts on this pair?
Hi everyone, Here is my idea on a USDCHF short.
Price has broken the ascending channel and re-tested the trendline.
Various targets highlighted on the chart, i'll be looking at these key areas for reversals/support.
I havent entered the trade yet. Looking for a bearish candle stick formation/confirmation for entry.
Watching this pair this week for a short trade. Apologies this isn't the most comprehensive video, but it's a lot easier to understand than a confusing image once i'd drawn on the fib retracement.
Let me know what your plans are for this trade.
Following a big push down from USDCAD, i'm now watching the circled area as it could potentially be a right shoulder on the D chart and push to the upside.
Looking for candle stick confirmations on the 4H and 1H at this area for which way the market will move. I'll update when it occurs.
Which way do you see it going?
So I was initially aiming for 5% on this trade (see previous analysis), perhaps I was a bit eager to place my SL at 3% and managed to get taken out of the trade shortly after - Although I cant complain with 3% on this pair today!
Price has seen some resistance and buyers are losing control looking at the 1H chart. I predict either consolidation and continuation...
So here is the completion of the last trade I posted on EURCAD. 2.75% banked on this pair for me today.
The completion of the double top has been confirmed. Will we see it fall even further now??
I've highlighted an area along a trendline, i'll be looking for candlestick formations around this area to see the next move. Make sure you're following for the next...
There you have it folks. For the 30-40 people who saw my analysis, I sure hope you agreed with it and managed to capitalise on this trade.
2.75% on this trade for me. It's turned out to be a great day! up 5.75% on the day so far, and i'm still watching EURCAD for the next hour.
Let me know if you took the trade!
Price has been consolidating and has formed a pennant structure, at an area of interest. I'm personally waiting for the breakout - waiting for price to break and close outside of the pennant before entering (could even wait for a re-test of the trendline to be more cautious and minimise the trap of a false breakout).
Price has been consolidating around an area of...
Recently been triggered into this trade which I had forecasted a couple days ago.
Price broke the weekly resistance (blue line) - I was waiting for a retest.
Price has now broke the ascending channel and triggered me into the trade (more confidence if price holds above this level on the 4H).
Targets placed below previous monthly resistance levels.
So here it is. The pair is in a downward trend. Double top forming at the 0.5 FIB level. Going short now, I don't see it happening overnight, the price may fluctuate around this level for some time. Hence the larger than usual stop loss.
I know everyone has been watching this pair for sometime, so best of luck!
I have personally stayed out of long trades on EURUSD as we are still very much in a bearish trend.
My forecasting is based upon the next few 4H sessions. If we see lots of indecision in the market around the 1.08 mark then I would be expecting the double top formation to be completed, looking for a confirmation (short entry).
For the confirmation I will be...