I am still buying oil on the bounces off this bullish trendline. Until this trendline is broken, US Oil is still bullish in price action with higher highs and higher lows being made.
My target sell zone is $60 per barrel maybe $60.80.
We all love a pending order where we can set, forget and collect.
Set the order
- Pending buy @ 107.700
- Stop Loss @ 107.200
- Take Profit @ 110.00
- We can leave and forget our pending buy with some confidence due to the quality of the setup. This is a straight forward Fibonacci setup on a high timeframe, using a high timeframe adds weight to the price...
I believe EurAud will drop simply because it’s formed a lower low and a lower high on the daily timeframe, hence a bearish structure.
The reasoning behind my entry, is because there was a liquidity capture with that institutional candle (highlighted yellow candle), clearing equal highs (highlighted red ish).
The specific entries are at the body and 50% of that...
Enter Long position at 1.09980
TP = 1.11003
Price is rejecting 61% Fib level (4hr Chart) showing good signs of reversal.
I believe there is a banking level also at the 61% Fib.
Price Action is also bullish
trading range beginning to tighten, fully retraced to 0.618 fib from the massive ~40% pump, also finding support on 50DMA and Weekly eMA ribbon, and price congestion zone as shown from VPVR, resistance from 200DMA, 100DMA and 21DeMA above, candle pattern appears bearish, but on weak volume, sign of weakness from bears IMO, this can also be seen in the multiple...
LOOKING AT THIS AND I WILL BE:
-WAITING FOR THE PULL BACK ON THE TREND LINE
-LOOK FOR SHORTING POSITIONS AROUND THE 61.8 FIB ZONE
-USING THE MACD FOR DIVERGENCE UPON ENTRY
-SET TP TO PREVIOUS SESSION LOW
-SET SL ON PREVIOUS CEILING ZONE
OVERALL I BELIEVE THIS PAIR WILL BREAKOUT ON THE UPSIDE BUT THERE IS GOOD SELLING MOMENTUM LEFT.
Nice trend continuation set up on NZDUSD.
I took a loss on this last week but have found a better entry now. Price has found support at the daily 0.618 fib retracement level.
On the lower timeframes price has found 1hr support, broken the bearish CTL and made a higher low here.
Looking to trade this pair up to new daily highs at 0.65200