Good signs of being overbought on the daily and reference point for stoploss above yesterday's high. However lower timeframes still need to show more definitive signs of bearishness to consider short. The price breaking support on the lower timeframes, pulling back and then finding resistance make be a conservative approach to trading this.
Summary: Good signs of being overbought on the higher timeframes. However, need to see more definitive bearishness on the lower timeframes like the H1 and 15min. Should that happen, this allows for an entry with an achievable 1:1 reward to risk (or greater). That assumes a stoploss above the high of the daily candle on 6th August
Shorting based on timeframe agreement and price action **DAILY** > lower lows and lower highs > yesterday's candle is an assumed lower high giving a good reference point for a stoploss above that level > Yesterday's candle interacted with previous zonal support and resistance, as well as the upper edge of a the linear regression channel. These are good...
This is a short based on timeframe correlation and price action analysis. * DAILY CHART* - signs of lower lows and lower highs. - The high of the previous day's candle also interacted with a strong area of previous resistance. - That level as interacts with the upper edge of the linear regression channel. - These are signs of the price potentially being...
Shorting EURJPY. Setup based on price action and timeframe correlation. * Daily showing signs of bearishness, with signs of lower highs and previous days interacting with zonal resistance * Linear Regression Channel on the daily is ok but not great. Price is currently near the average on the linear regression channel and in the upper half. * Recent price action...
Short trade based on timeframe agreement: * A strong resistance zone evident on the daily on H4, giving a good reference point for stop loss * Price overbought on the daily based on linear regression channel * Signs of bearish price action on higher and lower timeframes (i.e. lower lows and lower highs) * Stoploss above daily high on 22nd July. A more...
#GBPJPY Short based on price action and timeframe agreement: * Daily - yesterday's candle was "toppy" and found resistance at a previous support level * Daily - assumption is yesterday's candle is a lower high in the price action. This gives context to place a stoploss above that * 4 hourly chart shows clear signs of bearishness with lower lows and lower highs in...
Short trade based on timeframe agreement: * A strong resistance zone evident on the daily on H4, giving a good reference point for stop loss * Price overbought on the daily based on linear regression channel * Slightly worried about the price action on the 4hourly chart as it hasn't yet broken structure to show signs of a downtrend * However, signs of bearishness...
Trend-based trade based on: * yesterday's reversal candle finding resistance at a strong level * the price having moved passed the low of yesterday's candle * the price appearing over-bought on the higher timeframes e.g. interactions with upper linear regression channel * lower timeframes starting to show signs of lower lows and lower highs * stoploss above...
because how often do you believe people on the internet
Weekly Chart analysis
While my last video on DXY has been supporting a bullish view, I wanted to also look at the alternative. I go over a few reasons why one may want to short the dollar from that point of view. There will always be good reasons to buy X pair, or to sell it instead, which is a point I talk about. At the end of the day, trading is a game of probability so you will...
FX:GBPCHF , OANDA:GBPCHF , SAXO:GBPCHF Here is a video on GBPCHF. We posted a buy idea on the pair this morning (see the related idea). Just a quick run through on the reasoning behind it and why we thought it was a decent speculative trade to have a look at today. Feel free to comment if you have any questions or would like to discuss anything. Full...
The dollar index has had a very bearish week, but that is not to say that the bearishness is going to continue, as we are approaching daily, weekly and monthly demand zones on the DXY chart. From the video you will see that we are not quite there at the monthly demand zone, so we could get some more weakness until we reach it, at which point we could get back...
FX:EURGBP , OANDA:EURGBP , FOREXCOM:EURGBP , FOREXCOM:EURGBP A confluence of Fibonacci levels on the weekly - Selling EURGBP Weekly – Trading at the upper end of a bearish channel. Confluence of Fibonacci levels with a 78.6% & 61.8% in close proximity. Daily – Failed at a 78.6% Fibonacci level and close below the 10EMA for the first time in 30...
OANDA:XAUUSD - Weekly (Bearish) : Doji at a weekly level indicating indecision and momentum loss with a wide swing divergence - Daily (Bearish) : Pinbar rejection with divergence - 4hr (Entry) : Double top with a trendline break EP: 1336.25 SL: 1360.36 TP1: 1311.47 TP2: 1290 www.pipkingsfx.com Like the content? Support it by.... SMASHING that LIKE button...
FX:EURCHF - Weekly (Bearish) : Long wick candle off the zone forming a pinbar - Daily (Bearish) : Inside bar with a bunch of indecision candles on the zone - 4hr (Entry) : Trendline & Wedge Breakout EP: 1.12400 SL: 1.11686 TP1: 1.13113 TP2: 1.13406 TP3: 1.14255 www.pipkingsfx.com Like the content? Support it by.... SMASHING that LIKE button & following my...