looking for a retrace back up to the 50ema (red) and a retest of the 50 ema and trend line and a fail. Once it fails and begins to head back down to the lower trend line a sell position can be taken.
SO MANY BREAKOUTS JUST APPROVING THE DOWNTREND HAS BEGUN SO I AM OPENING A SELL ORDER AND TP @0.95600 THAT IS AROUND 100 PIPS FREE FOR YOU GUYS BUT ALWAYS TRADE WITH CARE AND USE RISK MANAGMENT!
Note: AUD/CAD is following what we predict
last week.
Overall, we are bearish on this pair
There are 2 plans for this trade:
1. Looking for the price correction/pullback to
the support zone near 0.979 level and a bearish
signal to short with right risk
2. Zoom into H4 or H1 chart to look for pullback
to 20-EMA and short with little risk
A week of decissions stays ahead this week (50th week`16) ...
1.03975 start of extended downside trendline (november`16)
1.00947 end of extended downside trendline (november`16)
This could be an usefully long/short decission helper!
0.99394 1st high this month (december`16)
0.98427 1st low this month (december`16)
0.98439 1st test of this month...
Note: Is is a TURN Setup or Reversal Trade
The trend now turn to BEARISH
There are 2 ways to short this pair
1. If the price break the support zone around 0.979x strongly,
wait for pullback to the support zone and SHORT
2. If the price bounce back from support zone around 0.979x
Wait it touch the 20-EMA and short when a bearish signal appeared...
HIGHER HIGHS AND HIGHER LOWS FORMING A RISING WEDGE !
PRINCE JUMPED BACK AFTER HITTING THE RESITANCE ZONE AND NOW IAM WAITING TO BREAK THE TREND LINE TO PUT A SELL ODER TP1@0.99700 TP2@0.98000 AND LONG TERM TP3@0.96000
The Price breaks the recent upward trendline.
Bounce back from the resistance zone (1.035x), 2 crows appeared at resistance zone, and a strong bearish pin bar followed with few strong bearish trend bars
A Risk to Reward of 1:3 great trade!
Wait for any Pullback and short :)
YOUR LIKE MATTERS : Give it a like if this has helped you in any way , follow for more ideas and daily updates.
Check recently posted ideas linked below :-
