Continuation to my previous AUDUSD short setup, stop was hit and now saw the mistake I first made. Price had more room to go up and thats what it did. Rejection from 0.7640 level gives me confidence to enter short again, targeting the same level of 0.7569.
Price broke the 4h supportive area. Now the entry line aligns with the previous support turned to resistance. Price may see a drop from here as dollar has been trending up. Now just looking to follow the trend I thing the setup is 1:6 atleast, but may expect new lows going into new week.
I consider 144.00 level to be the current monthly resistance level. PA has proved this level to be a strong resistance previously. Switching between Daily, 4H and 1H chart I can see the reaction already as Head n Shoulders pattern forming below the 144.00 resistance. Yesterday price broke and closed below the 143.30 level, previously a resistance, turned to...
Due to sea containers being locked in different parts of the world, the export from asia is disturbed. A 40foot container in November cost approximately 2k USD, now sold 16k USD. This fundamental push aligned with current technicals on the chart makes me believe the DAC will see a drop sooner than later.
Although the dollar seems weak in a longer term projection, the current resistance levels have proved to stop the price from going forward unless a retracement is seen. current 4h is showing signs of reversal and the potential move downside would possibly retest the previous daily resistance area at 1.1950 and below. NFP at the end of the week, potentially more...
4h resistance level. price failing to break the level, momentum to the downside.
See how volume picked up on the red 4h support level. This signals buy orders are being collected and price is now ready to take of from the support level. Target 0.9000-0.9020.
Still keeping look at this. Now, after seeing the expected retest of 0.2400 level I am more confident than ever on this setup. Btc about to drop down towards 20-25k USD region, therefore giving a push for the alts. XRP/BTC also on the verge of breakout, therefore confirming this long bias.
Missed the entry, but saw the setup just now. potentially more entry opportunities coming, however, not as great riskreward as the initial setup.
PA showing a third drive into the highs, constantly lower highs in this case. Signaling a potential downside move towards 0.7600 level. Profit taking at the last 4h resistance, which was broken by the upside momentum. 1:4.5 risk to reward setup.
PA showing structure shift to the downside. Ofcourse the more conservative way to look at it would be to wait for 1.2600 to break, however, it is a matter of choice, mindset and tradingplan of every individual. Price found 4h level support at 1.2120, then snapped below it to test the lower support. Now, the last two 4h candles have yet again closed below 1.2120...
Im certainly looking to short cad against jpy when price hits the resistance area once more. Daily looking extremely bearish. risk setup is about 1:5, make a nice 5% on 1% risk.
I believe the current xrp breakout has confirmed the final retest of broken trendline and this to be start of xrp rally upwards. I don't mind the current fundamentals (SEC case against Ripple) and don't see it as a threat in the long run. World is corrupt and any action that can fill the pockets of the rich will be pushed through, so I see the SEC case being...
Waiting for price to hit the entry level area. Target is set to fill the gap. Dollar index hitting the support right now, expecting a bump up from the support, therefore a downfall from pound.
Recently tested, 100% accurate trade setup so far. Risk is not the best on this setup, however, if I see a confirmation of price rejecting that support level, I would enter the long where I see fit and good risk to reward ratio.