NZDCAD has been trading in a descending channel on the daily chart for some time.
After failing to reach the descending trend line at the top level of the channel price has steadily declined and broke below 0.9100 support.
Price is now treating this zone as resistance and we've seen a slow down in momentum.
If price declined to the 0.89150 support we would go...
Starting with the weekly chart on this pair, we can see that we are currently in a declining tend zone. having recently rejected a break out of the roof of the zone, we have our first confluence that we are looking for short opportunities. We then drop down to the daily timeframe where we can see that price may be coming back up for a retest of the 142.83 level...
The Tracker Detected a Short Term Demand Level
Potential move to the Upside expected
opportunity for good return on Investment
#priceaction #gbpaud #demandlevel #forex #tradingsoftware #forexsignals
this idea will only run if we get some positivity over the ongoing trade wars with china
my idea is for price to break 6.72600 region retest and to carry on bearish
price is under the 200 ema
Candlestick formation looking bearish
us china trade wars is looking to get negotiated which will be great for china
In the chart above we are looking at the AUD/JPY pair on the 12hr.
To precisely enter successful reversals we need to maintain a very strict trading criteria in order to benefit the most out of our reversal trades.
Questions we need to ask before entering a strong reversal:
- Who is in control of price?
- Have we reached a strong area of Support/Resistance?
Using ICT Concpets, it’s led me to believe EU has a potential rally down, it took out a double top, an area of Liquidity where Smart Money can sell, its retested a breaker used to mitigate orders, so now overall bias is to short EU to the double bottom, another HTF level of Liquidity, maybe EU will reach for the range Low
After the Bears took control at 1.36500, a very strong bearish momentum has pushed the market in a strong downward trend, retesting off resistance zones as it continues to decline.
As our previous trade successfully closed breaking past both of our targets. We are looking for another retest entry to profit from the bearish momentum.
Technical Analysis for a SHORT:
Daily Downtrend, currently in a LH
Multiple Trendline Taps from Multiple Timeframes
H1 61.8 Golden Fib Retracement
Formed LH on H1
Bear MA Crossover
Heading towards the top of the ascending channel on USDCAD, multiple confluences including prev resistance & possible double top forming on Daily TF therefore I believe we could have a great sell opportunity around the 1.37500 level. We are in a strong uptrend however we are over extended and have a lot of 'empty space' to fill below. Looking at the smaller time...
I believe recent bullish spike seen on GBP/USD is simply a pullback and that there is further downward bearish momentum to be seen in the coming days. LAst week we saw price breaking the long trendline with a strong bullish candlestick which was followed through by another bear candle on the daily. Price then pulled back at around the monthly support level 1.2500...