thetraveltrader

thetraveltrader

Hey Trader's, Technical’s are looking strong for a high probability long opportunity heading into tomorrow. We can see a clear shift in structure with today's impulsive PA and we can now look to play the wave 3 continuation if we see price enter the area of value as shown. Entry will be taken upon the correct confirmation. Trade safe : )

thetraveltrader Updated 

Hey Traders, It seems the market sentiment is shifting and we are seeing some safe haven flows. The NZD appears to be in 'overbought' territory and I believe we are going to see some downside movement from here. I am now live in this position with downside targets being 68.20 (90% rule & structure) & 67.22 for extended (-27 & Daily EMA) Trade safe : )

thetraveltrader

Hey Traders, GA has now developed nicely with a decent RR opportunity pending having rejected Weekly/Monthly Ascending TL & Weekly Demand (High Value Area) The Daily time frame is noticeably overextended and has now printed a Double Bottom indicating a potential reversal. With some nice bullish price action today we can now see the intraday momentum has...

thetraveltrader

Confluences for a Short Trade are: - Bearish Sequence - Rejection of 78.6% - 3rd Touch Daily Descending Trend Line - Retest of Market Structure - Retest of 4 Hour 50ema and closure below - Multiple High Test Rejections on the 15 minute time frame - 1 Hour Evening Star Formation (entry confirmation) Instagram: @TheTravelTrader (www.instagram.com) Twitter:...

thetraveltrader

Following from the CAD strength last week and a further rejection of 1.3350 and the 78.6% we finally saw a nice impulsive move to the downside after what felt like weeks of indecision. As price has now printed a new Low on the Daily time frame (breaking 1.3200 structure) and correlating a bullish bias with CADJPY (inverse correlation), it would be logical to only...

thetraveltrader

Looking for a continuation to the downside. Keep an eye out on price action around the 61.8%, 4 hour 50ema and previous market structure (1.6195). If we start to see candles of indecision (spinning tops/dojo’s) this is a good indication that price is decelerating within an area of interest. Even with generous Stops (50-60 pips) above structure this still...

thetraveltrader

We really need to see a full body closure below this structure for continuation. Downside potential is huge if we break this level. Instagram: @TheTravelTrader (www.instagram.com) Twitter: @fx_ollie (twitter.com)

thetraveltrader

Expecting further downside from here. Price created a double top, the ascending trend line has now been broken and we have a solid closure below structure (1.6195) and the 4 hour 50ema. I'd like to see a push lower with entry's taken upon a retest of previous support (now resistance). Alternatively we may see price pop higher and retest the 4 hour 50 before...

thetraveltrader

Overall Gold is very much bullish but there could be a counter trend move pending. If price can break the ascending TL and 4 Hour 50ema then we can look to go short upon a retest. Alternatively any bullish rejections from this level and we will continue push higher. Instagram: @TheTravelTrader (www.instagram.com) Twitter: @fx_ollie (twitter.com)

thetraveltrader

Looking for price to print a new higher high and close above 57.00 to confirm upside. We are currently above the Daily 50ema and descending trend line and failed to make a lower low having rejected 53.75. If we have a full body closure above 56.70 - 57.00 then we can look to go long on any form of a retrace. If we fail to break above this structure then we...

thetraveltrader

USDJPY - Short Idea - Bearish: Downtrend - Rejection of 4 Hour 50ema - Double top formation - Reversal out of Fibonacci Golden Pocket - DXY - stalling at structure of 98.25 - Safe Haven currencies in demand due to Yield Curve Inversion Price is very corrective and the Risk/Reward isn’t fantastic as you would need a large stop loss but it’s certainly a...

thetraveltrader

Price has failed to make a new higher high and is reversing out of the Golden Pocket Additional supporting confluences are: - Counter Trend Line broken, - 1 Hour Bearish Engulfing, - 15 minute 50ema broken, Instagram: @TheTravelTrader (www.instagram.com) Twitter: @fx_ollie (twitter.com)

thetraveltrader

Shorts running. Stops should be at entry price. A SOLID close below the Daily 50ema and TL and this thing is going to melt. We’ve not been below the 50 since the end of April. Downside target - 0.8855 (Head & Shoulders pattern duplication) Instagram: @TheTravelTrader (www.instagram.com) Twitter: @fx_ollie (twitter.com)

thetraveltrader

Given how price has reacted from the weekly level of 1.8250 I do favour short term downside. Another confluence is that we have rejected the 78.6% from the last significant Daily high. The only consideration would be that price is making higher highs and higher lows on the 4 Hour TF and we are above the 4 hour 50ema so this is a slightly risky trade. Any...

thetraveltrader

Monitor price action this level to see if we have any rejections - in particular on the 15 minute and 1 Hour time frame. There could be a nice short position pending if we see a nice rejection from this level (equal to the left shoulder) targeting the -27% and 50ema. Alternatively if we break above this structure, then wait for a retest to go Long....

thetraveltrader

Price had bounced from the Daily trend line & Daily 50ema and we saw a retrace back up to the neckline (previous support now resistance) where price has been consolidating for the past 24 hours. We did see a push higher above the neckline followed by a sharp decline to the downside with a long wick rejection indicating selling pressure defending the upside....

thetraveltrader

Looking at the higher time frames, price has failed to break resistance at 1.3340 and the 78.6% Fibonacci level and we can see price was becoming increasingly squeezed waiting for the breakout. We saw price had in fact closed below the 4 Hour 50ema on several occasions before driving back into the resistance zone (creating a quadruple top!) so patience’s has been...

thetraveltrader

Price is now below the 4 Hour 50ema since the beginning of August and failing to make new higher high's. With buying momentum fading, I will be waiting for price to print a new lower low and close below support of 1494.50 (full 4 hour body closure) to confirm the new direction. Safest entry can be taken upon a retest of the neckline (support turned resistance...