For the moment, we are currently seeing an accumulation of buy orders daily, if you look left, we are moving in waves from
Point A : 1850 (Strong Support)
B: 1920 (Resistance)
C: 1872 (Support)
D: 1933 (Latest resistance)
E: 1886 (Support)
If we see it breaks 1886 or 1895
wait for a breakout for the real move in the right sense of direction.
the highlighted zone is an area of interest to me. I am not just looking to buy at this level. My bias may be long but i need to find a confirmation to enter the trade. (DB, engulfer etc)
This is a trade setup that i found and identified on a 1 on 1 session with a TeePee Student.
I have outlined in my chart what I expect to happen with this pair so it will be a case of a sensible lot size due to it being market open and observing the trade throughout Monday. Nice RR as we normally wait for the pair to reach the TL before entering. However, as you can see there has been a nice reaction off this level here so it is worth a punt. If price...
As you can see, chart may look a bit more 'messy' in terms of how we normally chart but this is to show you a bit more behind the trade.
We have a daily bullish and bearish trend here, the more recent daily bullish you can see broke out a little while ago whilst the bearish (down trend) is still currently respecting. However on recent meetings to the trendline...
NZDCAD will remain a bullish trend as the pair hunts down previous LowerHighs. Setting the circles for potential take profits and the blue box for a stop loss you can expect at most a 20pip opportunity.
Be patient and wait for a new HigherLow to form in order for a lower risk to reward ratio when placing your stoploss, otherwise you can still place your stop...
USDJPY H4 - Cover this in the technical rundown, but DXY is setting lower lows and lower highs. Still performing nicely on Gold lows and UJ longs though, possible retest from the broken zone to trade up to that next 106.300 resistance.
I will be placing buy positions when price reaches our weekly demand level. I expect buyers to come into the market in this zone pushing this pair further up and continue the longer term bullish trend.
So we can clearly see this pair is currently bearish. It has been for sometime now.
We have also broken out of a daily key level of 0.64973. The only other time this pair has been under this level was March this year when price came down then.
Now, we will leave this alone until one of two things happen. 1) the price continues to fall and we will enter a long...