EURZAR is trading in a descending channel, which price seems to be respecting very. Recently, there was a rejection at the resistive trendline and a break of the counter-trendline, presenting an opportunity for bears to short the pair. The first target is the support zone. Be sure to use proper risk management and do not oversize your positions. Be sure to...
Previously, we opened a long position on CADJPY around 78.550, but closed it around 79.000 as the bulls began to show signs of weakness which was confirmed by a candlestick pattern. For now, we will not be trading this pair until an opportunity presents itself. At present, we will be looking for long positions once price reaches the supportive trendline again. If...
CADCHF had a very powerful bearish from 20/02/2020 until around 18/03/2020. Thereafter, we saw CADCHF make very weak bullish corrections. As a result, we may have a bearish flag forming. Price has broken out of the supportive trendline on the daily timeframe and appears to have retested it, presenting bears with a good opportunity to go short on the pair. The...
CHFJPY is once again at a strong resistance zone, as well as a newly plotted resistive trendline, presenting bears with an opportunity to short the pair. A stop loss can be placed a few pips above the most recent high that broke through the resistance, with a target at the most recent low. However, bears should be aware of a possible bullish flag formation. Use...
USDJPY is trading within a triangle right now. At present, USDJPY is at a resistive trendline, presenting bears with an opportunity to short the pair until the triangle's supportive trendline. Be sure to use proper risk management. Be sure to follow me for more idea and analyses. Leave a comment and a like with your thoughts below. Best of luck traders!
NASDAQ is showing signs of rejection at a support zone, indicating potential bullish movements are to follow, However, NASDAQ is also following along a resistive trendline, presenting a barrier for price to overcome before seeing some strong bullish movements. Should price break above the resistive trendline, bulls can wait for a retest of the trendline before...
AUDJPY has broken out of a supportive trendline, and is currently retesting it. Also, AUDJPY is showing signs of rejection at a resistive trendline, indicating bearish potential. Bears can look to short the pair now, with a stop loss a few pips above the resistive trendline. Traders should be sure to wait for the market to move in such a manner that it satisfies...
Oil is currently at a local supply zone, meaning that it could be seeing some bearish movements soon. However, based on the daily bullish trend, it would be more rewarding to wait for an opportunity to go long. Ideally, bulls should wait for a break and retest of the resistive trendline before looking to go long. Be sure to follow me for more ideas and analyses....
AUDUSD is currently approaching a strong resistance zone and is at a resistive trendline, presenting an opportunity to short the pair. A possible double top is forming on the Weekly timeframe, making the short opportunity more attractive. Traders should use proper risk management when opening a position. Be sure to follow me for more ideas and analyses. Leave a...
There has been some significant movements in NASDAQ over the past 2 days, presenting opportunities (although possibly risky) to make some very good pips. Currently, NASDAQ is at a key level, currently acting as minor support. A rejection of this area could see price climbing up, presenting an opportunity to go long. With a break and retest of this level, price...
EURUSD is currently at a very strong resistance, presenting an opportunity for bears to open short positions on this pair. However, it should be noted that EURUSD is following along a supportive trendline, meaning the short position could be short lived. Traders who would like to go short can place a stop loss above the resistance zone, and target the supportive...
EURJPY has broken out of a long-term supportive trendline, indicating bearish power. Currently, EURJPY may be retesting the broken supportive trendline, as well a local supply zone on the 4HR timeframe, presenting an opportunity for bears to go short on the pair. Ensure proper risk management is used, and wait for the market to give you a valid entry that...
CHFJPY has had a bearish movement at a very strong resistance, and now appears to be getting rejected at the resistance once again after a retracement. This presents bears with an attractive opportunity to short the pair now (aggressive entry) or wait until a break of the counter-trendline occurs (conservative entry). A stop-loss can be placed a few pips above the...
CADJPY is currently on a supportive trendline and is showing signs of rejection, presenting an opportunity for bulls to go long now. However, bulls should note that CADJPY has been trading in a range for the past month, meaning a breakout could occur soon. For this reason, a stop loss will be placed a few pips below the supportive trendline, and a target at the...
USDZAR is trading with a triangle and price is approaching the end corner of the triangle, indicating that a strong bearish or bullish movement is coming soon. Traders should wait for the market to move and give a valid entry, pointing towards a clear direction. At present, price is near a support zone and a supportive trendline, presenting a good probability long...
Previously, we went short on EURUSD at the resistance zone; our target was reached. Now, we will look to reanalyse EURUSD and wait for another opportunity to present itself. EURUSD is currently at a supportive trendline, presenting an opportunity for bulls to go long, aiming for the resistance zone. Bears, however, can wait for a break and retest of the...
CHFJPY has finally been rejected by the resistance zone. Traders who viewed my previous analysis and took the short would be in good profits right now. Bears can look to enter (or re-enter) short positions on a retracement. Ideally, CHFJPY should retrace closer to the resistance zone to give a higher probability short setup. Once CHJPY retraces deeper, bears...
EURUSD is at a local supply zone now, presenting an opportunity for bears to short the pair. Traders should wait for confirmation at the resistance zone to short the pair with a stop loss a few pips above the supply zone, and a first target at the supportive trendline. A strong break above the supply zone will make this trade invalid, as price could rise all the...