Took a USDCHF long with a an R:R of 2.1
My reasoning for this trade was the strong rejection of the 78.2 Fibonacci retracement level, as well as the pivot line adjacent with it. To me this shows a possible 1.2.3 move with a the push to the downside now ending resulting in a higher high being formed.
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.
GBPJPY has broken above a descending trend line on the 4H chart & below.
Scoping down to the 15m chart we can see price clearly respecting the trend line/support area with rejections to the downside.
Aggressive entries would be taken at current market price. For a safer entry, we would look to go long upon a break of the 147.250 area.
Manage your risk...
The India50 is not one that's often talked about. I show how I estimate the price action and probabilities for a short position. As always if anybody is getting into this, prepare to lose! This is a loser's game - we can't win without losing, end of story.
Price is trading within a descending wedge pattern & has recently touched the bottom level with halted bearish momentum.
This provides us with a long trade opportunity with exceptional risk/reward ratio.
Make sure to manage risk appropriately when trading.
We could possibly see a bearish down movement on GJ heading towards a minor support at 144.964. Price has recently bounced off a major resistance area and could be heading for a retest at the 147.721 area. we can also see the bullish trendline being broken an used as a dynamic resistance!
Awaiting for candlestick confirmation on higher timeframe!
Here we have a low risk trade opportunity presented to us on EURAUD.
Price has broken above a descending trend line & is retesting the trend line from the other side as support.
Long trades would be closed upon a bullish hourly candle close & a stop loss would be placed tight below the trend line.
We will post updates as this trade progresses.
This pair over the past 2-3 weeks has flew up over 500+ PIPS I believe the pair is now over bought and it currently needs a pull back of roughly 200-300 pips. Price has rejected my major Daily Channel Trendline looking back a price action when this pair hit the Trendline it fell over 300-400 pips so I believe the same scenario will happen again, before...
Downside movement is expected for the Euro against the US Dollar in coming weeks.
On the weekly chart we saw a large head & shoulders reversal pattern form, and price has since broken below the neckline support & found sustained resistance holding below it.
We've also seen a smaller ascending trend line broken to the downside with a weekly candle close...
I'm saying, that GBPJPY is in trouble - having pumped north like nobody's business. The technical picture on the weekly is troubled. That means there is opportunity for all traders (long or short) on lower time frames. I'll say no more here. Have a look. And - if you think differently, give to the community your reasoned assessment. It is in giving that we...
Basic price action, broke key Resistance line on the upwards scale. GBP is technically over bought and should fundamentally be worth 0 with all the brexit shenanigans.
Looking for a semi drop before a consolidation period followed by a larger progressive fall.
Gold has had a good run north on the daily time frame and is coming into a powerful zone of congestion. It's not looking great for going long on the 1D now. There are opportunities for shorting on lower time frames but those do not look too good either. Possibly - just possibly - there may be more profit taking on this around this time. I'd be cautious with this one.
The pair is currently making a new high at 145.040 the last 2 to 3 days, Testing a key weekly level at 144.700. The monthly still has a bullish bias this type of trade we are looking to take as a retracement. As long as the pair remains under 144.25 possibly look for a retest at this level for more entries.
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...