Quick short term day trade set up on USDCAD.
Higher low, breakout of lower timeframe wedge yesterday, trendline and EMA supporting price.
This could go a lot higher than TP1 shown on the chart because USD is weak across the board so plenty of upside.
AUDUSD is back at 0.66800 support zone and is showing signs of buyers at this level once more.
I am looking for a potential bounce of this zone now and price to make its way back up from here now.
Dependant on price closing above the support zone on the daily timeframe but I feel there is a lot fo upside potential for this pair.
The GBPUSD wedge was finally broken last week and price made a new higher high on the 4hr chart.
Price is now back down and retesting the upper wedge trendline and 0.786 fib retracement level.
This is a good chance to buy in on the new bullish trend that might become apparent over the next few days and weeks.
US Crude has now reached the $52 support zone once again. This has been huge sell off in a fairly short amount of time with Crude dropping over 20% in less than a month.
A long position at this support zone could prove profitable if price holds up and begins to regroup.
Nice rejections of the $58 support zone and daily bullish trendline.
This trendline has provided many buying opportunities recently and it looks to still be holding strong. I am looking to trade crude oil up to $65 resistance if momentum can take it there.
Possibility for higher prices.
I am looking to long AUDUSD if a few criteria rules are met.
A break of the bearish trendline and a higher low forming would be a nice entry. Price has bounced off the 0.68500 support zone once again and I think the 1hr bearish trend could reverse now.
Look for price to break and retest the trendline and 1hr 50EMA.
USD weakness going in to the rest of the...
Long trade entry on US Crude oil. The gap up over the weekend has been filled, daily pivot level is acting as support and the 1hr trend looks nice and bullish with higher highs and higher lows.
I am trading this one up to $62.50 where I will take profits and potentially look to short US crude down to new 4hr/daily lower lows.
AUDUSD long position now entered. My intraday position is to take this long trade up to new 4hr higher highs at 0.69800.
Nice support zone at this level, bullish trendline, higher low and fib 0.618 level.
Stop Loss - below 0.786 fib & bullish TL
TP - New higher high @ -0.27 fib extension
I am now entered into a long term buy & hold position on GBPJPY.
Price has broken out through multiple resistance levels last week on the back of the new conservative majority. Thursday/Friday saw the fast money come in to the markets with heavy short term buying.
Price is now consolidating probably caused by profit taking on the speculation trades and the...
Aussie Dollar is making nice bullish waves on the 4hr and daily timeframe. I am looking to capitalise on this and enter another long position on the nexxt higher low that forms.
I have a few confluences to look for.
1 - previous support/resistance zone on the last highs (coloured box)
2- Bullish trendline
3- Fib retracement levels (0.618 is in the coloured box...
Here is a potential long trade set up on the Euro / New Zealand Dollar FX currency pair.
Daily Timeframe - Nice rejection of the daily bullish trendline drawn across the last 2 higher lows. Price has made higher highs through September so the higher timeframe is definitely bullish for me.
Lower Timeframe - Price has broken the 1hr bearish trendline and produced...
I am looking to go long AUDUSD up to new highs on the daily trend.
Price seems to be making a higher low on the fibonacci cluster zone at the 0.618 and 70.68 retracement levels of the previous swings.
Stop loss below the levels and targeting a new high at 0.70