Looking to long once Scenario 1 plays out! Do not enter long after breakout of resistance (as shown in scenario 2. We need to wait for a retest first of a HIGHER LOW above that key level of resistance to look for longs). Observation only.
Trading Idea - NOT an Investment Opportunity!
Bitcoin breached out of the longer channel and placed in a bearish channel, it is expected to at least touch the bottom of bearish channel. the second target is to decrease equivalently to the size of larger channel width.
There could be a couple of potential entries if you were wanting to get long GBPJPY over the coming days. The first over on the left hand side is an advance fib pattern in the form of a bullish Bat pattern completing around the 149 even handle (just below it). It also looks like an equal measured move (AB=CD) is being traced out from the A point of the pattern...
Looking at the H4 chart (just a little cleaner than the hourly but still valid on both), we could be potentially tracing out an advanced bullish bat pattern at the moment. If price action makes its way down to our entry at the 88.6% Fib on the chart then the pattern would be complete and you could enter long looking for targets 1 & 2 at the green lines on the...
EURUSD in this triangle, consolidation, so the best option is to look for cycles to develop and trade it with the W and D trend. For now, waiting for price to take previous high and when it pullback it will be the time to go long, targeting previous D highs.
Possible longer term here bullish opportunity on the Pound/Canadian.
The GBPCAD has recently broken out of a down trending 'channel' on the H4 chart, and coupled with the recent explosive move after the BoE's interest rate comments last month, we might be seeing an inverted head and shoulders pattern potentially forming as well. Looks like a little bounce at the...
We have recently seen XAUUSD break out above the key $1300 price level which has contained the precious metal for the best part of a year now, however, the momentum to the upside might be weakening (if only temporarily) as we have just put in a new structure low on the H4 chart, violating the previous outside return of the bullish move up.
We are currently...
Already short on trend following set up
Looking to take trade Cypher tomorrow. I am not a hughe fan of Limit orders during the asian session... What about your opinion on trading the Asian session by limit orders?
Disclaimer: This post is not a trade signal.
Trading Forex is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary.