I will be looking for shorts if a reversal pattern does occur at 1.6350 and the Daily CTL (Counter-Trend Line). However, if we do break above 1.6350 I will be looking for a pull back into 1.6350 before going long.
Looking to take advantage of the weakness in Aussie dollar overnight which took GBP AUD higher providing a great entry point for shorting British Pound against Aussie dollar. Our chart on trading view highlights the levels of overbought status on both RSI and Stochastics which have previously led to a move lower and the chart work also highlights...
Wait until one sees a solid change in direction before getting in. I assume it will test resistance at 0.92662 or a bit lower, then as the market direction is short this is an opportunity to short with tp at 0.91238
Our GBPAUD trade setup hit target and came back up towards our previous entry point. Closing half the position at the previous target level would be a good idea to secure profits if momentum doesn't build up.
See related ideas below for the previous trade.
After a positive surprise for the market on Australian elections as Conservatives keep power via coalition and the polling companies have yet another shocker after predicting in the last 50 polls that Labour would come to power. This mild positive and the oversold nature of AUD led to a large short squeeze with AUD trading up 70 pips from...
Here is a counter trend trade set up on the EURAUD fx pair. Shorting on the 3rd rejection of the 0.27 fib extension from the last 4hr wave. I will be looking to take this trade down to the 4hr bullish trendline and if that TL breaks then I will go for the daily fib 0.618 retracement level at around 1.59
See how keeping thing simple and your charts clean can lead to spotting more setups and save you time? Half the information on the internet is purposely put up to confuse people so they loose money in the markets, if you look on the internet people will tell you that you need to use loads of different indicators to succeed in the markets, this is BULL#HIT!!! Price...
We are going down under. As you can see price is nearly at a key daily and monthly level and we can only see downside bearish movement IF price enters our resistance zone again... we will be waiting for price to enter this zone before taking a trade though... be patient and if price drops now from where it is before entering our zone and you miss the trade so...
While the price is above the support 0.9105, beginning of uptrend is expected.
We make sure when the resistance at 0.9610 breaks.
If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid.
A peak is formed in daily chart at 0.9395 on 06/04/2019, so more losses to support(s) 0.9170 and...
The Australian Dollar has been weak of late, and with the current risk off sentiment we are expecting a shift back into the worlds safe haven currencies of JPY and CHF.
Our favoured pair for the coming week is AUDCHF with a beautiful 15m bearish engulfing candle right off of our level of interest at 0.68630.
Initially this trade has been taken as a day-trade...
Classic, simple trendline break trade.
It is good to wait for a lower low to be made for the trend reversal to be confirmed. Then I like to enter on the next lower high for a better R:R entry.
Use the 1hr 50ema and daily pivot as dynamic resistance once both are broken and the retested from below.
We are at the top end of the Monthly Range, so I will be looking for a reversal at the 1.63500 Key Resistance level. I did post this analysis on the 22nd of May, However, we have finally approached this level today.
Looking at the setup on British Pound versus Aussie dollar which we played from long side last week and are now looking to play from the short side with British Pound running out of upward momentum back at the resistance area highlighted in our trading view chart and looking likely to head lower again.
The price action also shows up on the...