CADCHF forming a nice pattern which could go two ways really. Im in the buy from the arrow and hoping I can make a nice Friday gain on this trade. If its a good one, will do a video on it and you could watch it on my channel.
I set my SL in a reasonable price so if its goes against me, I will deal with it.
Stay tune for update.
EURUSD is about to talk to us really loudly. Lets see what its got to say. As it seems now its in the downside and its making a bigger pattern on the daily timeframe, and on the weekly trendline. That means, something big is about to happen.
Please be very careful with this trade. I don't see anymore potential in the downside part of this trade....
AUDUSD had a beautiful breakout from last week's channel pattern.
Let's wait now and see what kind of pattern formation is going to form. It's going to be something that we know, I can assure you that.
Stay tune for the update on this trade. I will try to do a live trade on it.
I previously predicted there would be a bull trap, you can see on the 4H chart that although the past few days have been rough for BTC; there's still hope of a bullish breakout soon. Check altcoins for more evidence.
This is the time when these two major pair is about to talk to us.
Let's see the EUR viewpoint : - The price is breaking out from the weekly trendline and it's making a beautiful pattern formation that we can recognise. The way to trade this, is now to wait for the confirmation and get into the buy.
BUT here comes the USD viewpoint: - The price...
Price has come to meet a daily resistance, and has also broken out of a trend and come to retest that trend with successful rejection. A good opportunity to go SHORT with an 11 pip stop. 5 RR, meaning risk of £1000 using a 12.00 lot size (GBP account) with £5000 reward if TP is hit.
This is a pennant and represents a pullback from the highs around 1550.
It's testing the pattern's boundary and might break out to resume the uptrend which started in June.
PS: Stochastic has further to go so an upside breakout is more probable.
Not being greedy on this one as it looks a bit risky. Target is 50 points with a stop loss at 17.5 points.
Alternatively it might breakout of the current trendline and drop but on the 1H chart the RSI has turned and it looks to be bouncing off the lower trendline.