AUDJPY at a key area highlighted (acted as dynamic support / resistance) Attractive RR 5:1
I wont lie - taken some inspiration from Gwave here (credit where credit is due) But, I am looking at this from a shorter time horizon - this trade fits nicely into a basic Support / Resistance Strategy - and so a good RR is offered. I will be watching closely for how price acts when it is in the area highlighted - this will give price action confirmation that...
Rally seems to be over extended and now its looking for a pull back We got wicked into the short which is always good. Triple top formed and price seems to be struggling to break resistance @ 1.27700 Dollar seems to be finding a little strength across multiple currencys right now + Brexit news could weaken the £ A good RR offered of 4.41
Called this earlier in the week but was a little too early with it. Waiting for price to bounce up again and we will look to go short as dollar is picking up a bit of strength again!
Huge momentum in the market today As per my previous post we were waiting for a short but the momentum is not with us there. We have taken a bit of a scalp trade long but will be either be looking to take profit quickly or make it a risk free trade and see where the market takes us (but likely get stopped out at breakeven)
Price rejection on 4hr timeframe - makes for a nice R/R we are short from 136.310 and will be looking to build on this position if price edges back into that kind of area.
It has been a case of how low can you go for this pair! We are starting to see price nudging upward on the 4hr - looking to put in a small buy, and will build the position if this gains any momentum
Had some success on this pair last week. 1) US Stimulus expected next week 2) Surging COVID cases likely to see safe haven upside (this is somewhat ironic given the US is experiencing record gains when compared with places like NZ!) 3) As per the trades last week - the pair is hovering around a mid term area of resistance - this always makes for more...
GBPSEK is trending hard to the downside, however as per the chart, price is approaching a very strong weekly Support line. While I accept this is a low probability trade (likely get stopped out as im not willing to sustain massive losses), the Risk/Reward ratio is significant enough to warrant a little speculation. The ideal set up is; Entry; 11.32650 SL;...
AUDUSD SHORT 1) Price at long standing area of resistance 2) Weaker than expected AUS jobs report 3) RBA highlights uncertainty impacting growth and investment 4) Melbourne enters 2nd lockdown 6) Australia announces it will act as a haven for Hong Kong citizens - AUD/China tension will weigh more than USA/CHINA relations due to proximity / relative AUD...
So there are a few factors in play here for EURUSD Short Term - Short 1) I will be looking for Short opportunities as the pair is touching a long term area of resistance 2) As per the chart EURUSD has seen a fairly rapid rally to get to this point, so a pull back on the lower time frames should be expected 3) EU Summit over the weekend (17th - 19th) has thus...
Rinse and Repeat! - Touching that 4hr resistance again in at 0.0908610 HOWEVER - only a small trade so far, wait for momentum to turn to the downside before committing more
Forgot to post Short EURGBP valid, bouncing off 4hr resistance, seeing good momentum to the downside
Missed major downside move, however, price is at key level on 4hr timeframe, wait for break below highlighted area to confirm trend continuation and look to take the sells!
AUDNZD Serious upside potential / long term trade
If broken, likely to fall to .01818 MACD / WWV / Squeeze Momentum all suggesting pressure to the downside