gmctwonine

gmctwonine

Stochastic is oversold and is showing bearish divergence. Price action closed below ascending channel support, but I predict that it will reverse and bounce back up, especially given GOLD's strength at the moment because of risk-aversion vibes. Stop loss is 113.00 and first profit target is 114.50 for a 1:1 trade. I unfortunately entered this trade yesterday...

gmctwonine

Ascending wedge on the EURUSD 4H chart with bearish divergence (higher high, lower high). I plan on taking a short position once price action crosses below key support level at 1.2100 with a stop loss at 1.3000 and profit target at 1.1100 for a 1.25:1 trade.

gmctwonine

NZDUSD has been trading in an ascending channel and is approaching channel resistance. Stochastic is already reading overbought conditions, signalling a downward move. Bearish oscillator divergence (higher high, lower high) makes me think that the pair will change direction soon and work its way back down to support at .7060. Fundamentally, USD is very weak after...

gmctwonine

AUDJPY has been consolidating into a symmetrical triangle on the 4H chart. Bullish divergence (lower low, higher high) shows that a trend reversal might be coming soon. Assuming price action continues lower and the stochastic is showing an oversold reading, I will enter long on an engulfing bull candle at the break of 82.05 with a stop loss at 81.75 and a profit...

gmctwonine

NZDCAD's price action is approaching ascending channel resistance. Bearish oscillator divergence (higher high, lower high) makes me believe that price action will reverse and continue to break below channel support. Once it hits resistance, I will enter a short position on a bearish engulfing candle. My short entry is .9700 with a stop loss at .9780 and a first...

gmctwonine Updated 

Double tap on the 1D AUDCAD chart with price action heading down toward the neckline @0.9950. I will enter a short order at the break of the neckline with a stop loss at @~.0300 and first profit target @0.9600. Gold seems fundamentally strong and oil seems fundamentally weak.

gmctwonine

CHFJPY has been trading in an ascending channel for the past few days and is approaching channel resistance. Bearish oscillator divergence (higher high, lower high) makes me believe that the pair will bounce off channel resistance and continue downward past channel support. I plan on going short on a bearish engulfing candle off the channel resistance/horizontal...

gmctwonine

GBPCAD appears to be retracing back to an ascending support line after gapping up in mid-April - May. The 100 and 200 period moving averages have just crossed over on the 1D chart and are pointing up, signalling a potential reversal soon. I predict that price action will touch the ascending support and plan to place a long order at ~1.7100 with a SL below the...