Very nice weekly bullish candlestick reconfirmed the previous buy signal on the daily chart (engulfing bar of 29 June). Confluence with bottom of channel trend line and 1.618 fib level. Good place to enter a medium term long position.
After a big number on US Non farm payroll data surprised the market on Friday and threw the market into doubt over whether the US central bank, the fed, will cut rates at the next meeting giving the US dollar a bounce in strength into the weekend against market expectations. We are looking at a long setup in USD versus Canadian dollar with the...
It still hasn't hit 1450 so im not happy. Shot down yesterday but i think it's looking promising to go back up. Looking at the 4H timeframe. I see a bullish engulfing forming so i will reenter the trade again since i closed at 1425 after seeing it drop. Also just bounced off my trendline so iI'm going long. Let's get some profits again!
(refer to my previous post...
Looking for further downward momentum today, nice break of range and signs of further momentum.
GBP is in poor shape currently and on higher time frames we have no reason to believe this is near the end of the new lows.
I don't trade GBP pairs because they're so volatile but everything is lining up on this one for a quick 5 day short. Looks like we're bouncing off the 50 SMA and the pivot point, the candle is a nice bearish pin and the Stochastic has crossed, I think there are 120 pips in it.
Big engulfing candle and a double test of the pivot point could be a sign of a reversal and 90 pip trade, i'll leave it for now but this looks like it's a continuation of the downtrend for this pair, i'll wait until stochastic crosses above the 80 to jump in.
Here we can see heavy resistance around the 110.400 region. I personally entered short positions on this after seeing the exhaustion presented to us on the H1 time frame around 7pm - 1am here in London. A much safer entrance would have been at the closure of 2am H4 candle as you may notice the shooting star formation emerging. With my riskier entry I did however...
I have a full bullish bias on Gold currently no confirmed direction change at this current stage. I am not placing this trade yet but this is an example of a good set up using this method that may be valid in the coming days. Also this is how I plan my days / weeks ahead.
no indicators just look at what you can see on the screen and understand how your opponent...
Now EURAUD is a pair I have come to build some what of a love hate relationship with over the past 6 months. Previously taking shorts at a similar level in January before being annihilated by the flash crash. Luckily I did re enter and caught a lovely 500+ pips. Anyway that's besides the point, currently we are back at this huge resistance zone, where we saw daily...
Looks like I might have the candle I've been waiting for to push AUDUSD back up to resistance levels, Stochastic has just crossed. ADX is still showing a trend so it might be a day or two early for a trade but the signs look good. I think there's potential for 130 pips.
As always if you have an opinion on this then I'd love to hear it, I'm always keen to learn.
* 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.