If it breaks to the upside, it can go up $20+ very quickly. If it breaks to the downside, look to buy at support levels. Bias is bullish.
This is not a Trade Idea, use this as a frame for decision making based on where are the main technical areas on the chart Main Items we see on the 4hs chart: a)Price is against the lower trendline of the descending channel b)On the same are mentioned in the previous item we have a secondary trendline (dots line) converging on the same spot c)Convergences...
EURAUD - Intraday - We look to Sell at 1.6616 (stop at 1.6656) An Evening Doji Star formation has been posted at the high. Buying posted in Asia. Bespoke resistance is located at 1.6616. The previous swing high is located at 1.6626. The 50% Fibonacci retracement is located at 1.6596 from 1.6787 to 1.6406. Preferred trade is to sell into rallies. Our profit...
AUDJPY - Intraday - We look to Buy a break of 72.16 (stop at 71.86) The 423.6% Fibonacci extension level of the 76.28-75.13 move is at 71.40. A Doji style candle has been posted from the base. A bullish reverse Head and Shoulders is forming. Trend line resistance is located at 72.16. A break of 72.16 is needed to confirm follow through bullish momentum. The...
Following a bounce off prior resistance and a fundamental short bias, short EURCAD at 1.4815.
My details: Entry @ 1.86370 Stop Loss @ 1.86060 Target @ 1.87290 Reward:Risk = 1:2.96 Stay tuned for the updates. Follow and leave a like if you liked this idea and want to see more!
Consider this as an idea to develop your own setup: Main items on the 4hs Chart: a)Price Broke out from a Weekly triangle structure b)Currently, there is a consolidation structure between the resistance zone and the ascending trendline (yellow solid trendline) c)On MACD we can observe a divergence on the Histogram, that can be considered as a weak signal of...
My details: Entry @ 1.32220 (Buy Limit order) Stop loss @ 1.32060 (16 pips) Target @ 1.32550 (33 pips) Reward:Risk = 2.06 Stay tuned for the updates. Follow and leave a like if you liked this idea and want to see more!
Short USDCAD, fundamentals bias and rejection off of key resistance area. Open-ended target.
Wait for correction to the Weekly M3 Pivot, then Sell between the 55/100 EMA and below/at the Weekly M3. Conservative Target is M1 of Future Weekly Pivot and Agressive Target is at S2 Future Weekly Pivot. M1 is more likely and more safe because it is also the bottom of the Support Zone (Blue). Shorting Euro is generally a good idea these days because you also...
Short position on USD/CAD ahead of tomorrows FOMC meeting and CAD GDP report The fundamentals mentioned will both highly impact this pair and the currency markets overall tomorrow However we can see clear indications to take this pair short with the double top on the 4H and taking a look at the HTF - 30 Pips risk - TP1 = 1.3090 = 85 pips - TP2 = 1.3000 =...
4H Chart Explanation: - Price is in a 4H range since May, between the Resistance and the Support Zone. - It bounced in the bottom of the range. - Price broke the Dashed Descending Trendline. - If price breaks 0.6905, it has potential to move up towards the Resistance Zone at 0.7035. Our Weekly and Daily Analysis support this idea! Also, our last prediction on...
FX:AUDUSD OANDA:AUDUSD FOREXCOM:AUDUSD SAXO:AUDUSD AUDUSD - Intraday - We look to Buy at 0.6880 (stop at 0.6850) 7 negative daily performances in succession. Prices have reacted from the 423.6% Fibonacci extension level. Buying posted in Asia. Posted a Bullish Outside candle on the 4 hour chart. There is scope for mild selling at the open but losses...
FX:USDCHF OANDA:USDCHF FOREXCOM:USDCHF SAXO:USDCHF USDCHF - Intraday - We look to Sell at 0.9965 (stop at 1.0000) A 5 wave bearish count has been completed at 0.9694. Intraday, and we are between bespoke support and resistance 0.9882-0.9965. The rally has posted an exhaustion count on the daily chart. We have a 50% Fibonacci pullback level of 0.9965 from...