I am off out tonight to celebrate an amazing week trading and yes i am going to have 1 or 2 beers after all you have to let your hair down sometimes ( although this is hard for me as i have no hair ) haha.
Area of interest is highlighted, we are favoring bullish movement from this area, fundamental news today has pushed price down but technical analysis will push...
This is a pre-data trade for GBPAUD.
GBP is being bid up prior to the release of UK core CPI data today. It appears buyers are assuming good news which we all know, is highly unlikely considering the state of Brexit and the economy.
The classic "BUY the rumour, SELL the news"
Targeting new lower lows on the 1hr/4hr timeframe as the trend continues.
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.
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...
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.
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 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...