As you can see from the chart we have taken a nice buy position on this pair. We have the bearish trend which has been respected for some time now on the higher timeframes. This broke out and it was a matter of time before we saw some action to get involved in the next trade. We can see on the lower 1hr timeframe we have created a nice little bullish trend which...
EURAUD didn't quite reach our previous buy limit annoyingly as it has flown since our last analysis! but that's forex so don't just trade because you've missed out be patient. We can now see a slight retracement on the pair allowing us to get into a short term buy. A little lower than the 50% fib we can see a nice support level that we can use as our next level of...
This is my first trade of the week, got triggered during the day.
Basis of trade:
-Daily bias, price tried to pierce through daily resistance (orange line) however no acceptance, therefore bearish.
-Price retraced to 50% retracement
-Entry at the last low pre breakout
(Trading strategy is based on Tom Dante's approach to the markets)
Here is my idea on silver .
We have a great opportunity for a C leg.
Make sure you have strict stop losses, mine are: SL: 28.5
Here is take profit targets:
TP 2: 24
TP 3: 23
It’s a high probability trade, so I’m taking profits right at the end $23.
2 weeks ago this pair broke the weekly resistance level (now support) my overall bias for this long term (for now atleast) is long, however, with the price action weakening more and more, and the pair approaching a daily level, i will be looking for confirmations of a short. MACD shows us weakening of the rally through each push higher across both the HISTO & the...
Although my overall bias on this pair is long (higher time frame - monthly level break), a Bearish engulfing candle at a level this strong feels too good to ignore. I have a very effective method of trading engulfing candles, this means i'm already in and already risk free. We also have divergence across the last two peaks.
XRP followed bitcoins pump and didnt manage to reach the intended 61.8 & 78.6 retracements.
However if this daily fibonacci inside the overall (BOLD) fib would come through a pull back on or around 23rd July close/4th July open.
This would be the ideal scenario for one last dip to fulfill the long term retracements.
However with all the news out in the last few...
G CAD reached a daily support level and i'm curious to see if it will break through this zone and retest before continuing to the downside or pull a reversal and shoot to the upside. no bets placed yet I'll wait to see what it does before getting in on a lower time from after price makes a retest.