GBPUSD H4- Price is operating in an area that I call the Monthly Resistance Zone.
Reason For Entry-
Fundamentals- With the DXY Dollar Index braking a multi-year low and then rising, it looked like a good time to sell GBPUSD.
Double Top formed, overbought RSI (72.40) followed by Engulfing Candle indication on potential new trend going down
SL- 76 PIPS🛑
Good Afternoon Traders👨🏿💻
AUDCAD Live Trade Update
I believe as a trader, its very important that I show transparency with my trading especially to new traders as we can get caught up on thinking that losing isn't part of this long term game.
I've been on a 15 trade win streak for the past 2 weeks until I took this opportunity yesterday at 10AM.
Good Afternoon Traders
CADJPY LIVE TRADE UPDATE!
Reason For Entry- Price broke above the Daily Resistance Zone and I entered @close of 10AM candle
SL- 30 PIPS✅ (80.014)
TP- 30 PIPS✅ (80.610)
TP2- 60 PIPS✅ (80.905)
Gold spiked to All-Time Highs, breaking above ($1920.111) during the early European session, albeit quickly retreated a bit thereafter.
There are still high concerns within in the US about the economy which could be grinding to a halt amid the ever-increasing coronavirus cases that continue to grow. News release of the advance US Q2 GDP report on Thursday,...
USDJPY has recently crossed the 50EMA meaning the start of a new trend on the 4HR Chart & is in a level of structure support that has been a major level of structure for this pair multiple times in the past. So, for this week, I will be looking for possible long trades out of this pair from our Monthly Support Zone.
Support Area (Brown Zone) = (98.900-107.180)
Happy Sunday Traders
Price is currently at the Monthly Resistance Zone. During the week, this pair pushed up due to the EURO strength. This area that the EURCAD has tested multiple times in the past as resistance and is possibly an area that we could see a nice Counter-Trend bounce out of this market. For that reason, I will be looking in this area for...
Next we have USDCAD!
USDCAD is currently in a downtrend & is around a level of structure support that has been a major level of structure for this pair multiple times in the past. So, for this week, I will be looking for possible long trades out of this pair from our green zone.
Support Area (Green Zone) = (1.33080-1.33790)
Happy Sunday Traders
This pair is currently pushing up very strongly on the daily chart. During the week, this pair broke previous resistance (1.14420 -1.14990) and is now pushing up into an area which I called the Weekly Resistance Zone. This is an area that the EURUSD has tested multiple times in the past as resistance and is possibly an area that we could see...
EURGBP H4 Chart-
Market is in an Uptrend and price is above the 50EMA, price is in the Monthly Resistance Zone (Brown Area).
Reason For Entry- Double Top followed by Engulfing Candle.
SL- 48 Pips🛑
TP1- 48 Pips✅
TP2- 96 Pips✅
This pair has been pushing down but has also just come into a level of structure (Monthly Support Zone) that has acted as support multiple times in the past. Because of that, I see this brown zone as a level that we are likely to see a bounce out of. Because of that, I will be looking for possible long trades from this brown zone here on the...
Good Morning Traders!
On Jun 21st I anticipated that EURGBP would reach an area that I call the Monthly Resistance Zone and that's where I'd be looking at selling.
Reason For Entry- Double Top Followed By An Engulfing Candle to confirm entry
I entered this trade on Monday and it has just closed out.
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...
Lastly, let's check out GBPCAD.
This pair is coming off of a very bullish week last week. But, it is heading towards a very strong level of support. This level in RED is an area that I will be looking for possible Short trades out of if the GBPCAD reaches this level this week.
Major WEEKLY Level Of Resistance= (1.77110-1.78085)
GBPUSD is about to start its upside but its not long term trading ! It's only for a few weeks. Its going to have a lower low after its finished the pattern that is forming now.
Beautiful pattern if its going to work, don't miss out on it.
See my previous chart about GBP and see my prediction on it !
Trade Safe Trade Simple
I'm relatively new to Forex signals so try not to shoot me down on this one, thanks haha. if i could get some guidance and thought along with this idea of mine.
I've got one main resistance line where the market is currently at, i see it either bouncing off this and taking a deep dive or its going to break though and take a large jump to the next resistance. if i...