HI all, Hope everyone had a great weekend and her's to another week on the charts.
The entry price, stop loss (in pipettes) and take profit are shown on the chart itself.
Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress.
My name is Al, I'm 40 and from the UK.
I've been trading for...
Initially responded to that previous resistance we witnessed throughout the end of last week and throughout this week. Interested to see whether we break ready for next weeks trading, or whether we hold as resistance and see another range sequence.
We spoke about another potential entry on NZDCAD if we were to double top, that's exactly what we saw, not quite there on NZDUSD yet, but this has unfolded in excess of 1:2, previous breakout low would see us at 1:3 and then a break of support and selloff beyond 0.89400 would further increase that R potential.
GBPUSD H4 -
We are still trying to break above that 1.37 handle, USD weakness again as we crack beneath the latest s/r zone on the DXY. Analysis to follow.
1.37 is the latest breakout high... as well as a whole number resistance price. From 1.37 down to 1.36 offer 1:5R, looking to capitalise on this if we approach 1.37 with reversal signals, lower timeframe...
DXY H4 - Downside market gap for DXY, as per our weekly watchlist... we are looking to set fresh lows very early on. GU popping higher and gold also seemingly on a mission. Lots to keep an eye out for this week and next week, confirming our consensus basically. USD weakness, GBP strength, on the fence with EUR at the moment.
GBPUSD H4 - Popping up higher and breaking above correction highs, failed to set new lows means GBP pairs are seeing a bit of a SUSTAINED RECOVERY from Mondays selloff, not just a corrective pullback, if we retest and sit on 1.34 support, we could look to scout out longs up to 1.35. Back in trading range, and volatility has settled into this week.
GBPJPY H4 - Expecting very much the same with GJ as we are with cable, maybe a bit of a pullback but eventually an upside break and retest to offer long opportunities and continuations, all you have to do is scale out onto the D1 to see how bullish bias we are, 1.35 would be the highest price seen since July 2018.
EURUSD H4 - Currently pushing a key resistance zone, we have marked and annotated the monthly key level, resistance zone and 1.19 whole number, usually we would look to short this, but DXY is looking weak and we may be ready for an upside break, we have an ascending trend too, with sellers losing strength each time we push 1.189, breakout may be imminent. A break...
NZDUSD H4 - DXY pushing marginally above 93.350 ish, need to keep an eye on DXY resistance to see if it breaks upside, if it does we can expect continuations of ***USD bears and USD*** bulls. Just marking up some setups and zones for consideration. Best practice to wait for the dust to settle and see which zones holds before entering.
EURJPY H4 - Super bearish play from EJ so far this morning and most of this week to be honest. First support zone at 23.150 broke, now trialing down to 122.400, lets see how this zone reacts, again... Quantifiable RR.
AUDUSD H4 - Lots of resistance just above current price, 0.72 is quite a bit psychological number, monthly key level, and resistance just a little above. Could be a second test of fibs/resistance before dropping again.
NZDUSD H4 - Support zone held nicely, lots of confluences on this support zone. Monthly key level, local support zone and, whole number support. Ascending trendline too ties in nicely. Not sure how much mileage this has in it, but already pushing 1:1.
EURGBP M30 - Saw a break and retest of this pennant last week, but this was quite late during the week and markets then closed, and also failed to set new highs beyond the breakout high. I'm neither bullish or bearish on this until we hear more from the vote later on today. This will then set the tone going forward for the GBP markets and to a degree the EUR markets
EURUSD H4 - We have broken downside of the channel, but yet to have set lower lows, just waiting to see this lower low confirmation, then a pullback to optimise entries. Eying up possible shorts from around 1.18 hopefully.
USDCAD H4 - Slow markets like I mentioned in the video rundown, typical Monday, USD bear setup here on UC. New lows being set is required, nice break and retest already seen, CAD was an out performer last week, and USD was weak, trying to established whether this is a continued theme into this week too.