Just as I explained in my previous post, USDCAD is going up. (I linked it to this one)
Price bouncing up off support after rejection - this rejection is clearly seen by the long lower wick of the candle below the trendline.
This chart is the same as previously, but it shows how I am trading this.
Price should comfortably retest the resistance at 1.3210, but my...
looking to sell AUDUSD, price has been hovering around the major resistance for awhile now. following the bearish engulfing daily candle price seems to be ready for the retrace. SL above high and descending trendline. TP 0.6fib.
If price falls to the support zone at 111.65, I will be looking to buy in this oversold market.
If anyone trades with a Stochastic RSI or just a plain stochastic, they will see that selling when it reaches overbought and price is in a downtrend or ranging, is profitable.
The same goes for buying when the stochastic is oversold and price is up trending or...
Beware of the level that the the Aud Chf has made it to today this level has seen 2 major drops from break of this price.
My trade decision is short based on it being a test of recent resistance and there is lots of indecision on smaller time frames.
I now believe the eurusd bearish bias to be seriously over sold ,
The buyers look like that are starting to gain a control over further falling movements.
A bullish engulifing candle is being created on the 1hr lets see how the candle closes
Im looking at the Gbp usd to continue to trend from the underside towards 1.27500 resistance before sellers get to gain control again.
The 1.25500 resistance area need a big strong push through to reset recent data and continue up.
Will keep posted with updates
Biased on my 8hr price action I'm looking at taking the Gbp/Usd Long from around 1.25500 wish level up till 8hr resistance around 1.26200 level in the resistance if any indescesion is formed will look to short from resistance area back down to 1.25000 psychological level.https://uk.tradingview.com/x/OpXEUPRv/
We do not like to take un-calculated risks. The analysis really speaks for itself. However, we can possibly see a retest of the broken trendline (red trendline) and a continuation to the upside where we have our Daily/Weekly resistance zone. We can take short position from that position to our downside target of 0.7600 then 0.7545 around 180-210 pips. We can also...
Based on structure there is a trade setup with good risk reward , grey zone is from daily timeframe , and blue zone is in hourly zone.
In the blue zone you can look for entry reasons accourding to your trade plan , mby in smaller time frame.
Looking short on this pair as the previous day candlestick closed as a strong bearish marbozou. However, on the open of the market we can expect a pull pack up to the 4 hourly 50-61.8% level (1.23500). If price breaks above the bearish trend line we could expect price to move up to the 61.8% daily level (highlighted by red box). As traders we must understand...
Im already short on this, however, as seen on the chart I believe the outlook is still short. Only longs would be analysed on the break above the trend line. Our longer term target would be 0.7000-06900. However, as you could see we have multi trade setups. They are just their to remind me of potential entries (adding on to my trades). Once each target has been...