Looking for a rejection of the support level along with a retest of this level. After this, we will look to go long to the previous resistance level. Look to the 4H and 1H for entry (retest). If there is a breakout below the support level, the trade will become invalid. Hope this helps!
I previously marked up a bullish opportunity and i have attached the analysis below. Since then, price traded higher and has retraced into what i would see as a flat correction. From this point on, price has the potential to move bearish toward our take profit at 0.70752
The stop loss has been placed at 0.69010 creating an opportunity with a 1:2 risk to reward...
From a daily view, this pair appears bullish. We can see price respect support and move bullish on the 4hr , at the moment price is what i would see as a pullback and there is potential for price to go long again at the marked grey line.
entry - grey line
stop loss - red line
take profit - green line
risk exposure - 1%
risk to reward 1:2
I will be doing a...
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...
* Lovely Pinbar breaking the 50 EMA
* finding resistance from 50EMA and Horizontal support.
* Following the Trend on 15M 30M and 1H Timeframe
* 6EMA is above 18 EMA showing an upward move
* EMAs are not in line.
We have AUDJPY Showing bullish potential. Price has moved up bullish and met some point of resistance where we may see price retrace to the price level i have marked with the grey horizontal line. From this point, we may see price move up bullish to the price level i have marked with the green line which would be our take profit.
Risk on this trade - 1%
We can see a lovely trend line that has been respected for months, but we can also see a strong Monthly/Weekly support zone that price is currently at.
We are expecting this Trend line to break, we could see a retest of our support zone before this trend line breaks but we reserve this information for our VIP clients.
China releases white paper, India in the crosshairs, Bank of Australia decision
China has maintained a paused after the US showed trade aggression, apparently, hoping to reach an agreement. Apparently, hopes were not justified. As a result, the so-called “White Paper” was born. The document, which sets out the position of China in order to negotiations with the...
Overnight we had the Australian central bank cut interest rates as expected by the market and they also indicated that they were "one and done" for the time being which lead to Aussie dollar rallying overnight to the top of the descending channel highlighted in our tradingview chart.
At the same time we have the spike higher meeting an area of...