Here on the NZDUSD, we have a market that has just come into a level of resistance that I will be paying attention to for short trades. This is an area that has been tested multiple times as support and could possibly be a level that this market pushes down from. This would qualify as a valid Optimal Trading Zone where I'll be lookng to short.
Happy Sunday Traders
Gold is currently in a Uptrend and the market is above the 50EMA. Gold failed to close @1750.00 and in the process a Double Top has formed on the Daily Chart. For this reason, I'll be looking to short and enter this trade during the Asia Market Session.
TP LEVELS= 1616.00
TP 2 = 1550.00
Recent Daily Support Level Zone= (1641.00-1645.50)
This pair is currently pushing down very strongly on the daily chart. But, price is operating around the Daily Support Zone area. This is an area that the EUR/CAD has tested multiple times in the past as support and resistance and is possibly an area that we could see a nice bullish bounce out of this market. For that reason, I will be looking in this area for...
Hey Traders! Happy Sunday,
Firstly, we have the CADCHF. This pair is approaching a nice Daily Resistance Zone. This is a level that this market has used multiple times as resistance in the past. Because of that, I believe that we could see counter-trend opportunities from this area. That is why I will be looking in this area for possible short trades this week...
This pair is currently in a downtrend, but like GBPCAD, it is now pushing down towards a level of structure that is a major level. This is a level that could provide a nice counter-trend bullish bounce out of the NZDJPY. For this reason, I will be looking in this grey area this week for possible long trades.
Weekly Support Zone (Grey)= (61.180-63.00)
Current in a GBPUSD trade after seeing DB and an engulfing candle form on the Daily Chart.
Will be moving my Stop Loss when we hit our first target or 10Pips away from first targets. I have This trade Ratio @ 2:1R/R because I didn't want to open mutiple positions and monitor this trade going up!
Until Next Time, Happy Trading
At this time the overall probability from higher time frames is for DJI to move south (6H to 1D). However, there is a trend move probably on a 3 min to 5 min coming up.
This could move DJI up from 20800 to possibly as an estimate 21600. This is not a prediction. Have a look. Also see my other video that tracked a trend change on the DAX (link is below).
GbpNzd at minor support overall a daily flag type pattern so it is added confluence. There is some lower level of support a bit lower which in my opinion is a bit more important and significant but still not a bad opportunity.
GbpAud has retested the highs on the daily and is currently putting a head and shoulders pattern in. If you are aggressive you can take the shorting opportunity now at the right shoulder or wait for the break below the neckline.
AudUsd is at a decent level of support and we can see some relief coming in on this pari following a strong bearish move. I would be conservative with targets due to it being a counter trend setup and a strong move.
AudJpy is currently at a minor level of resistance/supply level which we can see some bearish pressure to the downside. After that I think if we pull back into the killzone drawn we can potentially get a retest of the highs due to the strength in the uptrend.
GBPJPY has hit the monthly bearish target early in the month and so we are expecting to see a nice rally up to the 134.000 level with a potential 500 pips on the table.
We have a nice 4 hour bullish engulfing candle so we are waiting for price to pull back into support before looking at long opportunities going into tomorrow.
Stops will be below the low and as...