The GBPUSD pair has been soaring on the last couple of days. But it has come to a key trend line resistance on the weekly chart. A close below the trend line would indicate to me the bulls are out of steam. Go to down to a lower time frame for an entry, and watch for the overbought signal on the RSI.
EURUSD is making a nice bearish flag, in confluence with the .786 retracement level. The Draghi speech could be the impetus for the next down impulse. Good risk to reward and this could move fast.
*this is a personal view only, not a signal.If you need further info please DM me.
USDCAD is at the top of the corrective channel of the overall major downtrend. Therefore this trade presents a good risk to reward ratio.
If you look at the daily RSI its highly overbought as well, with major news coming up for both the currencies it could be a trigger for the next down move.
Zoom into lower timeframe for a better entry.
You can DM me for...
USDCAD is at the top of the corrective channel of the overall major down trend. Therefore this trade presents a good risk to reward ratio.
Zoom down to lower time frame for better entry. I will keep you posted on any updates.
As you can see from the chart usdjpy is at the top of the corrective channel, going short for another leg is a high risk to reward ratio.
The fomc news coming up could help trigger the speed of the move so you wouldnt wanna miss it.
AUDUSD has more downside potential as it couldn't break through the short term trend line turned to the downside. Currently making a correction so you can either sell on the break of the flag(conservative) or top of the flag(aggressive)
AUDUSD is going back to structure and it is also at the .786 retracement level. It is also at the top of a channel, therefore shorting at the current levels is a good setup in my opinion.
*These are not trade calls, just my personal view.
as always comment or message me if you have any questions.
Will be watching the price action closely for a short as there is a good confluence of data. It's at the .886 retracement level as well as a bearish bat pattern. TheRSI is in overbought territory as well. A pin bar is forming on the 4h chart.
*Trading ideas are personal view. Not a recommendation for a buy or sell, please use your tested strategy.
As always if...
The pair is near the 0.886 fib level of the down move from .8750-.8360. It is also at the top of a corrective channel and the RSI is highly overbought. This a great risk to reward trade. Stops will be above the high. Zoom into lower time frame for a better entry.
*Please use your own strategy when making a trade. This is just my personal view and not a...
This pair is making a nice flag after breaking to the downside. The consolidation has been going for long and the next down leg will be trade with good risk to reward. This is also similar to the AUD/JPY.
*These trades are based on my analysis and is my personal idea. Not a recommendation to buy or sell. Please use your own strategy.
If you have any questions...
USDCAD broke to the downside, wait for a correction before entering the trade. This is near the top of the corrective move therefore, huge risk to reward ratio. If you don't know to trade this set up please stay away from the trade.
If you have any questions please feel free to message be. Ill be happy to help. Give this post a like if you agree.
**This is not...
The yen pairs are gaining strength and USD/JPY broke to the downside, wait for flag to validate the sell setup before you jump in. This trade has a very good risk reward if you have a tested strategy.
**This is my personal view, not a trade call. If you have any questions please comment or pm me and I will be happy to answer.
USDCAD Making a flag after break of trendline. It also happens to be around the .786 retracement of the down move from 18th nov- 22nd nov. Trading the break of flag look like a good risk to reward.
** This is not a trade call, just an observation please use your own strategy and analysis before risking your own money.