GBP/AUD is seeing a much anticipated retracement after melting out of a series of consolidation ranges that kept price action in between since mid June. Subsequently this pair has created a new lower low before initiating this correction that is taking place which seems to be coming to a halt as we can see a bearish divergence on the H1. RSI illustrates that price ...
Simple Short. Nothing fancy , just S/R and rejection candle.
DYOR and don't risk what you cant afford to lose , Stop would be on one of the highs , but still TBC
Basic S/R and candle sticks , Esy to set a stop. Nice targets.
As always DYOR , Don't trade if you cant afford to lose , never trade more that 1.5% of your pot
This week the EUR/USD has hit a major resistance point, shown above, having been tested twice and upon both occasions the price has been rejected.
Watch closely this coming trading week, depending on news releases throughout the week regarding both the euro and US dollar (beginning Monday 24th April), could tip the price either way.
Will be posting an update and ...
We've had that all important rejection of the 1.25 level. I was being a pussy so i missed out on a few pips since the rejection. I missed my opportunity on it but I'll still be trading the 4HR breakout swings. We may see some ranging on this pair. The steeper it gets, the weaker. SO, before we see a long opportunity, UC will range for a few days and consolidate ...
Rejection on daily plus other jpy pairs showing bearish momentum, with the BOJ news coming out I speculate safe haven strength. Technical factors are simple.
Price action has respected the weekly trend-line time and time again, which gives confirmation that we are going with the trend which increases the probability of this trade.
(confluences)
1. Support level at 1.3333 has been extremely reliable, as this level has been playing the major role in candlestick rejection. Price action has been rejecting this line from ...
When it rejects the line, completes the double top and breaks the lows of the retracement, you want to take it short to the 0.9174 level as projected on the chart. Will keep this idea updated
Price has opened at the support trendline today
Stochastic is oversold and currently turning upwards from that area.
Weak CAD can be seen in both USDCAD and here, EURCAD.
Not too good R:R ratio, but this trade fits my technical strategy so I will take it.
Have less emotion, and be more patient.
Good luck comrades.
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 ...
GBP/USD short
1H momentum down
RSI hitting 80 level
MA200 Rejection pin bar
Strong support/resistance level pin bar
Daily Pivot R1 rejection
Trend line rejection
ABCD pattern
Forming lower lows / lower highs
50% Fib retracement from strong bear sell off
61.8% Fib retracement from following sell off
Enter 1:1 risk reward.
GBPUSD has retraced and looks like it has stalled a ma major area of resistance wit several confluences halting its move. another 4 hour rejection of the 200 MA and if we close still below 1.2500 i will be selling this market back down to 1.2300 which is the last significant low. if we break that level then the pound could be in trouble
