List of confluence: 1: Breakout and retest of Key Level 2: Change in market structure from bearish to bullish 3: Trendline breakout
List of confluences: 1: Trendline Breakout 2: Change in market structure 3: Potential head and shoulders pattern formation on daily time frame.
We are currently looking for buying opportunities on USDCAD. This is because the pair has become bullish on multiple time frames. We also see a breakout of a daily time frame trendline. When we look left, we can see the pair has been largely bullish but in recent weeks and months we have seen a lot of correction and sideways movements. Could this be the...
We can see a breakout of a falling wedge on the daily chart which could signal the end of a pull back. We can see price is in up trend when we look left. With this being said we will only be looking for buying opportunities in the direction of the bigger picture trend.
We are looking to buy the breakout of the falling wedge which has formed on the daily chart. Our reason to buy is due to price being in an strong uptrend, meaning we might see an end to the pull back which could result in price pushing higher.
Reasons: 1: Rising Wedge Breakout 2: Trendline Breakout 3: Key Level Breakout 4: Change in Market structure Summary: NZDCHF remains in an overall down trend despite the pull back which we consider to be a bear market rally. We have spotted several price action patterns which signal the potential increase in strength of the CHF currency which has resulted in...
Potential Reasons: 1. Key level breakout and change in market structure on the daily time frame. 2. Trendline breakout 3. Rising wedge breakout We are only risking 2% per trade. We expect to hold this trade 3 to 4 weeks. Less is more! You need to understand your personality to understand what type of trader you are. Once you understand this than only you...
We can see a change in market structure on the daily chart by the breakout of the key level. This is followed by the breakout of the falling wedge pattern. With these two confirmations we can expect price to move in a bullish direction. We also expect a potential return 25% on this swing trade, depending on risk taken per trade as well as target reached. The...
USDCAD looks very bullish. We can see that by looking at the bigger picture, the pair is in a nice strong uptrend. This can be confirmed with the breakout of a counter trendline as well as price action turning bullish with breakout of our key level being the lower high. We are expecting to hold trade for around 3-4 weeks. We are looking to make between 10% to...
Price is in a up trend on multiple time frames. This added with a counter trendline breakout in the direction of the bigger picture trend singles a move to the upside. Clean charts are the best. No need to overcrowd the screen with indicators to the point where you cannot see what's going on on the chart. Keep this simple guys and never trade against the trend....
When we move onto the weekly time frame. We can see a sharp moved took place around the week of the 29th of August. This resulted the price breaking a weekly structural level which has been holding steady since around May of 2021. This combined with the breakout on a falling wedge pattern on the daily time frame add to our narrative of looking to go long on the...
The trend on EURUSD remains strongly bearish. The breakout of a trendline and a bullish channel may signal the end of a bear market rally and we could see price move lower. We can also see market structure remains bearish as price continues to make new lows.
AUDJPY remains bullish on higher time frames. This is clear as we can see price continues to make higher highs and higher lows. We have also spotted a counter trendline breakout in the direction of the bigger picture trend, which singles the potential end of a pull back and the start of a continuation to the upside.
List of confluences: 1: Falling Wedge Breakout 2: Trendline Breakout 3: Key Level Breakout and Change in Market Structure When looking at the larger time frames, we can see that EURJPY remains in a uptrend. We have also seen the market pull back which signalled a chance to enter in the direction of the bigger picture trend. We have listed 3 reasons as to why...
List of confluences: 1. Trendline breakout 2: Higher highs and Higher lows being created 3: Key level breakout 4: Several pin bars candles CADJPY is currently in a strong uptrend when we look at the bigger picture trend so we will be only looking for buying opportunities. When looking at the daily chart we can see that price has broken a recent counter trend...
Gold is in a strong down trend. The dollar is also very strong adding to our narrative that we could see gold move to make a new leg low. By looking at the different time frames, we see do not need to buy gold at this current moment and we will only be looking for selling opportunities. We can see that the counter trendline has been broken on the daily chart...
1: Trendline Breakout 2: Symmetrical Triangle Pattern Breakout When looking at the larger time frames, we can see that CHFJPY is bullish . We have also seen the market pull back which signalled a chance to enter in the direction of the bigger picture trend. We have listed 2 reasons as to why we will be looking to buy the pair. The trendline breakout on the daily...
BTCUSD is has recently turned bearish on the higher time frames. We are seeing price behaving in a manner last seen in December 2018. We can also see changes in market structure from bulling to bearish with several price action patterns which further supports our bearish bias as per on the chart. As a result, we are expecting one of two things to happen,...