There is a Bat Pattern formation on this pair and given the fact that there is a bearish trend, it seems like a good opportunity to sell right now and put the targets at 0.382 fibonacci level, although I am more focused on the 0.618 or lower, due to the trend.
Have nice holidays, if you celebrate them :)
I see a great opportunity on this trade. We have fibonacci confluence around the pink box and it made a small double top just a couple of hours ago. The risk:reward ratio is 1:1 and I am ok with that.
I am looking for a double bottom before going long on this pair. It entered the box I drew and there is where we can find some fibonacci confluence and structure. The risk:reward ratio is just a little smaller than 3:1 but it still great.
Have a great day!
The price came into the selling box I drew the last week and is where the 0.618 fibonacci retracement and structure meet. I expect the price to go lower to at least the 0.382 retracement of the last movement. There is also divergence on the RSI, to make this a stronger case for entry. The Stop Loss comes 30 pips above the previous high and I will take my...
This pair made recently a double top and I am looking to short now at the pullback up. My target is set to be the confluence of the 0.382 and the 1.272 fibonacci extension. The confluence comes in a strong resistance level where I will look to take a long trade, in order for the pair to continue with the longer term trend.
We can see that this pair approached a big resistance area and is a good place to take a short trade. The RSI is also overbought and I put the SL 30 pips above the high of the wig and the risk:rewar ratio is just insane on this one, so I am very comfortable to take this trade now before waiting for confirmation. You can wait for a break of the channel that...
This pair just made a retracement to a previous area where we can find a lot of structure. It just violated the previous highs and also there is fibonacci confluence where the green box is. The Risk:Reward ratio is just a little more than 1:1 so it is a good trade in my eyes.
Have a great trading day!
I took this trade a couple of hours ago and I really thought that I posted it, but well, here it is. You can still get into this trade right now if you are ok with the risk:reward ratio and if not, just wait for a pullback on the 15m chart to get in and you can also use a tighter SL, just bellow the 1.2955.
We can see there is some fibonacci confluence...
We see that the 0.786 fibonacci level as well as the 1.272 extension create a great area to take this trade. If we look left, we can also find some support and therefore it all makes a great case for entry this trade. I am looking for a 1:4 Risk:Reward ratio and that is GREAT! I will take the trade as long as it comes back at 112.47. I will keep you...
This pair recently broke its structure and is re-testing the previous support. The red box shows the area where is fibonacci confluence and it matches the previous support that is now to become resistance. The RSI also gives us another confirmation about where the price is looking to go on the mid-term. Personally I am waiting for a bearish signal to...
The RSI is oversold on the daily chart and we can see that the market made a retest of the current level several times. It gives us a good chance for taking a long trade and get around 190 pips of profit, risking just a little more than 90 pips.
Have a nice trading day ;)