Watching AUDUSD today, same as yesterday however today we got a signal candle. Looking for a retracement entry as we're not at the open yet so can expect some volatility soon. Looking at yesterdays move we had a more exaggerated overnight move which lead to some strong downside, here we're had a stable overnight session so there is a risk price may push higher....
I've been watching Wheat and Soy for a couple of weeks here as I've never traded them. I feel like I have a decent enough understanding of how they move to attempt and entry today. Got a bullish signal with price action context for a potential long trade, looking for retracement entry.
Watch USDJPY this morning as we interact with the uptrend line. We had similar consolidation on 17th/18th that did break to the upside but we're looking slightly extended on this drive higher now so I'm looking for a text book entry, not trying anything crazy here on Monday morning.
Pending order on EURUSD at 1.00830 looking for a retracement entry for more downside after price broke out of the range containment it's been in since July 19th.
The bot signalled a double confirmation long on SGDJPY but looking at the chart I have my doubts. USDJPY is clearly the stronger of the two and has moved back above the inflection level, where as SGD is looking weaker after falling below INF and showing some bearish price action. Interestingly however USDJPY didn't signal from the bot, so the difficult decision...
We got a double confirmation signal this morning across multiple JPY pairs, EURJPY and USDJPY being my favourites in terms of setup. I decided to enter USDJPY as the ExMo high sits nicely inside 134.600 level that was prior support before the CPI data release. Price has a local support level which is a semi breakout point too hoisted by the entry signals on the...
Following yesterday's exciting price action movements, there always follows a difficult period when the market needs to establish tradable levels. the EUR has fallen into consolidation on multiple pairs but EURAUD is the first to start trapping traders long and short. I'm sitting on my hands unfortunately until this plays out. As a technical trader my skills are...
Watching the bottom of the range to see if the recent price action is indicating a turn around from a previous sustained bearish move.
Early phase testing for our latest script, known as RS_MVP which highlights the Most Visited Price level in a specified range. Different to a standard support/resistance indicator in that it targets the most visited price where orders have been executed. Doing so allows traders to visually see what price has the most potential orders which can help with entries...
Pound/Dollar has some potential here. Using the RS ADR tool you can see the Average Daily Range of 114 pips takes us to the red pivot level just above 1.23000. This correlation gives us a nice take profit point with the usual double bottom pivot levels and bullish price action giving us the entry point. Taken a risk with a slightly early entry as price hasn't...
Watching GBP today to see if it can build a base for an upside move. I'm not convinced currently but price action is starting to develop. I'll be watching the pivot levels around 1.232 to see if we can make a nice break higher. We took a similar trade last week on GOLD which worked out nicely, but remember: There's no need to try and nail the bottom! It's...
Potentially looking at AUDUSD for further upside, however the pivot level is acting as good resistance. We may reject from the level to gain some distance before a momentum fuelled move to the upside. Tricky pair to judge but it has been in a sustained downtrend since April 5th. Watch to see if we get a clear break through the pivot high or decrement back...
Watching Gold for a potential bounce here given the pivot levels, however it has ben in a larger downtrend since April 18th so there's still caution when it comes to expecting a longer term bullish move.
We've been watching EURJPY all week as it interacts with the pivot levels. After an initial downtrend price found the support before a clear momentum move to the update. The whole time price action has been making clear moves to and around the pivot levels, giving multiple entry points. The long plays on 26th and 27th were short moves with traps following, but...
Watching as price interacts with the demand pivot level. We've had a couple of bounces over the past 24 hours but this time we seem to be decrementing the level slightly. Get access to our Pivot Points Tool today! - Link in bio
Sneak peak at our current project. A quick snippet showing how price levels can be caught using our pivot tool to inform trade ideas based on Support/Resistance and Supply/Demand. The tool is currently in a preliminary form, but we intend to optimise the level output to create a real eye view of the price action. Our goal is to mimic the price levels a trader...
AUDUSD has made a strong move early today which is double it's average daily range. This shows how the ADR can be used to exclude trade ideas, given the expected move has been well extended we wouldn't anticipate a great deal of further upside.
Seeing a compressed on AUDUSD. It has been relatively structured on the way up, pausing at 0.74 before extending higher. Will be watching the break either side. We've not been above 0.756 for nearly a year so top side trade would need to take that into account, with possible vol increase around that zone which you wouldn't want to get trapped in.