As we recently had a successful 100pip run credit to our member in PH, EURGBP has now entered a key level where we can expect some selling happening here.
With the right catalyst from the upcoming news event, we can then expect price to move faster in our favour. For now, entry is based on our rules.
To Investribe members, refer to your Weekly chart in MT4 to...
Last year October, we had a transfer of control from Demand to Supply. As of last month, we had another continuation downward move from it's SZCP, creating a lower high which indicates a confirmation of the downtrend.
Price has continued to break our trendline and is currently being rejected on the current pivot. In addition to that, it has also invalidated the...
Since the change of control to supply happened about 2 weeks ago, we had a sharp drop where most us from Investribe managed to make profits off that move.
So what next?
As analysed yesterday, we've identified 2 CPSZs where we can plan our short trades to continue with the major downtrend. We're...
With the recent run down for USDCAD, price currently has formed a Rising Wedge in D1 and is having difficulties breaking above 1.34900.
(Rising Wedge after a downtrend is a continuation pattern)
I believe price will break the wedge and go lower. Planning to short only upon retest of Resistance and in the SZ as drawn in H4. (It will be a valid CP SZ only if an ERC...
Dear FIM grads, as price is currently reacting to DZ in the higher time frame, going higher is highly probable but I will only buy after it takes out the opposing SZs in D1 as shown.
I am against shorting for now although there are Daily SZs. However if you want to, only short below the pivot as indicated.
Do your own due diligence and keep to your rules.
If NZDCHF presents no trade opportunity or a miss, i'll be watching GBPNZD closely for a LONG opportunity instead. Preferably in the CP DZ.
Note that NZFCHF & GBPNZD is about 55% negatively correlated, hence it may give us a trade alternative.
This could potentially be a 600 pip run but as discussed, always take off your profits as planned. Will be looking for a...
While higher timeframe suggests supply is still in control and a downtrend continuation seems more likely, i'm not all for that especially since the current DZ in D1 is still holding strong even though major support is broken.
I'm in favour of NZDCHF going higher, at least a 100 pip run to the next SZ as shown. Tomorrow's major news for NZD might just be the...
If you missed the recent 180+ pips run down from our daily SZ, there's a second opportunity for a short entry with a CP SZ in H4.
Wait for confirmation of rejection, can be in H4 or D1 depending on your preference.
As we've had multiple waves of downtrend, I expect another one happening around this current region.
The first zone charted coincides with a major resistance level, mthly pivot and 50%-61.8% retracement from the recent downward move.
Awaiting confirmation on H4.
Since our last successful Short trade on USDCAD , higher timeframe suggests a continuation of that trend as supply is still in control.
Drop down to H4 for CP SZ.
I intend to capture a short term downside and perhaps a second phase thereafter. As usual, await confirmation before entry.
Will update if trade is invalidated.
A potential move up for CSX. Ensure Entry stop orders are above $72.90 and SL to be below support.
SSB Grads: This trade is an example of a special entry where altho our MA are inverted, price is above our MA which makes it valid.
Although Demand is in control in the higher time frames, let's not discount the Selling momentum at the moment especially since price has failed to form a candle above the previous SZ.
Taking on a bullish bias, i'm looking at the immediate DZ for a possible long entry. Otherwise it will be next DZ as shown.
As usual, let's wait for confirmation before entry.
Breaking out of consolidation and with majority of indicators showing bullish momentum, a confirmation candle (bullish pinbar) has formed yesterday.
As always, only use Stop orders above yesterday's high or the day before as entry and SL levels best below of entry candle.