As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.694.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=0.693.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Today we are taking a look at Aussie Dollar versus US dollar which is finding substantial selling at resistance levels just short of 0.6970. The pair appear to be at the latest lower high of its lower highs, lower low patterns and looks set to turn lower back towards mid 0.68.
The touching of resistance levels is being met at the same time as...
Third touch of the trendline
Fib golden pocket (61.8 - 71%)
Fib time zone (1.5 - 2)
Should see a nice short happening (intraday idea)
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not guarantee future...
Price is currently showing bearish momentum with the potential to make new lows after price has retarced to the price level at the grey line i have marked which is our entry point
Stop loss - Red price level
Take profit - Green price level
Inverted Head and Shoulders ahead of FED interest rate decision.
Good risk reward ratio as you can see setting the TP @ 200ma and SL at recent swing low.
FED interest rate decision is forecast not to change this time however laying the groundwork's for future rate cuts later in the year.
This pair broke out bullish after reaching support ( the point where it started moving up) . We've currently seen price move bearish into what i'd see as a pullback with potential to for price to bullish again and create new highs toward the price level marked with the green line which is also our take profit level.
ENTRY - Grey line
STOP LOSS - Red line
* 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.
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!
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...