5 Reasons to go short.
1:) Symmetrical Triangle Breakout
2:) 50% Fib level intersects with 14 day bearish trend-line and 7 day bullish trend-line that was recently broken which could create a triple threat of resistance.
3:) Expected resistance at .7200
4:) Bearish Cloud
5:) Why the hell not.
Entry @ .7195
SL @ .7128
TP @ .7100
Sorry for the...
We broke out of our symmetrical triangle and now looking to go short. I'm waiting on a pull back to the trend-line in question and would like to see a pullback to the circled area on the chart. I've been pin point accurate all month so lets see how this trade pans out. Once price touches our zone we will execute our short position. If the pullback does not...
This is not an idea but a suggestion. Don't trade breakouts when the odds are against you. Look to where big institutions are wanting to buy or sell and then go from there. Trend is not your friend . Nothing in regards to trading is your friend. I forgot to post my sell position on this trade but its obvious now where the entry is and TP would be...
As shown on previous shared idea for this pair last week. We've predicted the sweet spot for price to reverse to be between 1.3150-1.3185 and it has made it's way downward from this area. Now we are waiting or our targets to be hit. Not too late to enter.
Entry @ 1.3150
SL @ 1.3225
TP1 @ 1.3018
TP2 @ 1.2908
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Originally posted last Thursday we've predicted the possibility of a reversal between our plotted reversal zone area and then narrowed it down to a Demand Zone and its Sweet Spot.
Price made a heck of a bounce off of the Demand Zone which ranges .7150-.7075 while it's sweet spot .7126-.7100 has not been touched. We took entry at the top green line of the DZ. ...
Enter short within the Supply Zone and enjoy the ride!
When trading Supply and Demand Zone areas i always prefer to try to enter somewhere towards the middle of the range which would be 1.3141 to be exact. This will give us a good risk to reward ratio. Stop Loss above SZ. Confirm your entry using your own charts . I just wanted to point out if you are...
USD/CAD is bullish by the way ;) By using the Point & Figure Chart can easily help you make easier decisions on finding support and resistance. As you can see on the 60m chart for USD/CAD the pattern along with price movement breaking out can't get more prettier to look at. If you are new to Point & Figure Charts I would suggest doing some homework. They can...
Charts observed: Daily ,4hr, 1hr, 15m
Finding Trend:
Step 1: Below 20 MA . Line must have a downward slope
Step 2: Previous Renko bar must be red/down .
Step 3: Previous Heiken Ashi Candle must be red/down
Finding Entry:
Macd Cross Down
CCI Overbought.
Entry at Breakout Level. Target 50 pips. Enter at breakout level or can wait for pullback after the breakout has occured.
What I do is I place my trade at the breakout price level then set my stop 25 pips below that. If we are right in direction and we have met half-way to our target at 25 pips above our entry we will then move our stop to our entry price . ...
USDCAD has reached key support at 1.2630 . Oil workers recently were on strike for 3 days in Kuwait cutting the countries oil production in half. Now the strike is over we should see a nice upward movement capturing 200 to 400 pips.
Entry 1.2640-1.2590
SL 1.2590
TP1 1.2900
TP2 1.3100
