The price has been trending upwards, saw that fib 61.8 retracement from lows to new highs and now about to hit the 78.6% retracement level from high to low. Looking to execute shorts from 1.4114, stops about 25 pips from entry. Targeting a long term swing down towards 1.3850.
Trending market, overall downtrend. Price met the liquidity area which aligns with 61,8% fib retracement level. Daily bearish closure, 6h chart bearish engulfing on the 61,8 Fib level. Targeting 115.00-114.00ish (key psychological round number level). May be held out for price to meet Fib extension levels. Stops above 116.50 level.
Structure broken and new low confirmed. Retest and continuation expected.
Trying something new. Breakout box retest. Expecting further dollar strenght going forward this week.
Previous trade hit my SL. Now after a bearish daily closure we have the retracement and a new opportunity to enter shorts from the 1.25 region. Targeting 1.2205 support, however, this has the potential go a lot lower. I expect to see some strenght in Dollar after days of weakness. HNS pattern still in play. Forming the right shoulder with that huge bearish daily...
Daily market structure was broken and retested + weekly candle close above 9EMA. To be cautious of potential break back below the broken structure and a push towards 1.2300 - 1.2200. Long trade entry strategy is to wait for a clear break of the 4h consolidation and enter upon a retest. Upside bias 1:4 risk reward with a 50pip stop and 200pip target projection.
Broken Structure Retest. FIB 78,6 retracement level retest. Possible right shoulder formation for Head & Shoulders reversal pattern.
Longs anticipated as well as a quick push towards the previous resistance, to be confirmed as new support ja structure level. Long target 1.4350
So, price broke the trendline and came back to retest it, but price showed weakness with the 4h candles rejecting the trendline, indicating a potential downside. targeting 1.0787 or lower if momentum kicks in.
Seeing that many other pairs lack fundamental announcements next week, USD/CAD seems to be one which may have volume kicking in. There are three scenarios that I am looking at. First of all we have to note the bullish pennant price is about to break out from. Therefore I look at two scenarios. First is the break to the upside, price breaking the trendline,...
This weeks candle took out 4 previous weekly wicks to the downside. Bearish engulfing from the top, with extremely bearish weekly candle closure on friday. Next support on weekly is 1.9400, that will be my target for short trades. Daily closed within the next lower weekly structure, rejected it as resistance after it had broken it the day before on thursday....
Trendline bounce, higher low. Trading in the direction of the trend.
Here I have a simple setup for both long and short trades. If price was to break the resistance at 0.8750 and break out of the trendline, I would enter upon a retest and target 0.8850 and 0.8900 levels. If price was to break down from the support, shorts can be executed upon a retest to ride out the continuation of a next bearish leg towards previous daily...
On friday before session end, price managed to break out of the range it was trading in from the start of the week. This shows a potential setup for next week. I've got two short setups on this pair. First setup is to wait for price to break the 118.45 level and enter upon a retest. Stops 3.5 pips above previous high. Second setup is if the price will aim to...
On friday, Euro managed to finally break out from the pennant it was ranging in. Due to low volume on friday, the breakout was slow and lacked sufficient momentum for me to stay confident in an upside bias. I still believe Euro is going down to 1.0500 monthly key support, a psychological level. Euro has been, since 2015 (2018 excl.) ranging between 1.0500 and...