Potential for GBPUSD to bounce from the support zone at 1.31. Lots of price reactions at this zone and we also have the daily S2 level here.
Targeting the 15min / 1hr bearish trendline which is a simple and nice 2:1 RR
Here is a fairly high Reward:Risk trade set up for next week.
GBPUSD is approaching the outer bullish trendline for a 3rd touch and this also coincides with the Fibonacci 0.618 retracement zone. This is a very simple trend continuation set up with a target price of 1.35 achieving a high reward ratio.
However! - It takes 3 touches of a trendline to confirm it. So...
Here's a low risk long trade setup for GBPCAD.
Momentum has slowed in a support zone which also lined up with an ascending trend line.
We have a good opportunity to attempt a long trade with low risk & high reward.
USDJPY has been trading in a bullish corrective triangle pattern on the weekly chart for a while now & the E wave upwards is in play.
We are expecting overall bullish price action to occur for huge profit targets of 200+ pips (possibility of further extension).
This chart is showing a nice long trade setup on the 4H timeframe.
Using a schiff...
AUDCAD recently broke above a descending trend line and has touched a resistance & came back down to touch the trend line from the other side.
What we would like to see is a retest of the trend line/.382 fib retracement/support zone that price is near to find long entries.
Stop loss would be placed below the trend line with profit targets listed on the...
USDJPY has been trading within a huge ABCDE corrective triangle on the weekly chart.
We have scoped down to the 4H chart to find a solid entry to a long position with extended profit targets.
Entries would be placed around current market price with a stop loss below the low around 109.000 - 109.110 & aim for targets of 110.000 & 118.000.
Updates will be posted...