After being stopped out at breakeven on my last EURUAD trade I am now looking for a second entry.
The bearish 4hr trendline has been broken and today a higher high was made on the 4hr. I am now looking for a long trade on the next higher low to take advantage of this new trend.
All analysis is marked on the chart and my entry is going to be around 1.57650 if...
LONG POSITION:
Weekly has now formed a bullish engulfing
pattern at 61.8 level as well as bouncing of
the Weekly Support level of 1.31200
and officially closing above the Weekly
Resistance level of 1.32600
I am now expecting an upwards trend continuation
to the Monthly Resistance level of 1.36500
Swing traders that use the daily and 4 Hour time frames
I...
Here we see two options;
1) a Long opportunity using the Ascending Triangle Pattern.
Here we will wait for an upward break back into the support line.
We then anticipate a rally up towards .72800 and prepare our entry and exit strategy.
2) a Short opportunity using the Double Top strategy.
Price retests resistance line twice but is rejected back to...
Got into this earlier in the week. Note the large Bullish candle breaking and closing above the significant resistance, and then a smaller Bullish engulfing rejecting the other side of this level as support. Reward, as always, is 2 to 1.
XAUUSD long trade
1H major trend line rejection
1H major support/resistance level rejection
1H MA200 rejection
Price action confirmation
50% Fib retracement
Daily momentum up
usdchf long trade
Daily momentum up
1H momentum up
MA200 rejection
Trend line rejection
Support line rejection
Pin bar + closing above
4H 50MA rejection
aud/usd long scalp
Daily momentum up
15M momentum up
50MA rejection
Pin bar + closing above gives us momentum advance
Previous support/resistance level rejection
Trend line rejection
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