We got in here on cable after a clear SMA cross had appeared.
No major data out of either country until 13:00 GMT which gives this position a good 4hrs before we need to either take profit or stop loss.
All of my criteria was met with this trade hence why i decided to enter.
The stop loss was fairly big but i decided to enter anyway as this trade set up was very appealing.
Price pushed up towards the 3rd touch of the 4HR ascending-channel structure during the GBP bull run we've experienced this week. The 3rd touch of the structure allows for brilliant risk/reward scenario
Were currently looking for the bounce here off the trend line of GBPUSD.
This is a very strong trend line and I'm certain if price reaches this again it will reject the trend line and shoot straight back up.
Obviously we will wait for other entry signals before we go long:
MACD going from negative to positive (the beginning of a new trend).
RSI above 50...
Good morning traders and a happy Monday.
Were starting the week off with some major data events coming out of both the US and Europe.
Firstly we have the German Ifo Business climate (EUR) coming out at 09:00 GMT (my local time).
This has the power to move the market a substantial amount therefore i will not be entering a trade until we see...
On this AUDUSD chart you can see my resistance at 0.69887 is just about to be broken.
It is looking very likely that this is going to happen.
We will wait for the retest (as always) before getting to this one.
Also a nice bullish candlestick patter off the retest.
There is potential for a 50 pip move if this resistance is broken.
Fundamentals point to a fairly...
DXY has held at critical support and looks to have reacted bullishly to it.
We need to see the brake of the trendline or the support before we can put any trades USD pairs.
Momentum indicators and oscillators all point to a bullish move but we need some confirmation before we can expect any good entry's.
Fundamentals were pretty mixed yesterday for both the USD...
DXY about to plummet despite the good data coming out of the US today.
Inflation rate YoY (Big Data) came in above the consensus and up against the previous.
Core inflation rate (Big Data) stayed at 1.2% which is on par with both the consensus and the previous.
The reason for the bearish move may be due to the old saying buy the rumour sell the fact, everyone...
My overall bias on EU today would be long.
Trend line is holding nicely.
There has just been a cross over on the Stoch and RSI is looking very bullish.
MACD also bullish.
Not the best time to buy now but after a reversal (off or close to the trend line) would be a good time to get in.
On a fundamental front this week Monday was a read day for the USD and for the...
While looking through major pairs this morning this one stood out more than any other. A nice retest of support turned resistance (1.2491). EMAs have crossed over, RSI in below 50, MACD fast in under lagging and Stochastic just about to cross also. There is a slight divergence on the RSI to the 1hr chart. This could be a sign of a trend reversal.
USDCAD could be a possible set up for a short.
DXY Head and shoulders looking very likely so on the back of this we are going to be looking t get in on the action.
USDCAD looks the best set up t take advantage of this as we can see EMA cross a key area of S/R.
We are just going to be patent with this one and wait for the cross to be confirmed and a nice bearish...
Great chance to get into EURGBP here.
10&20EMA cross over.
Price rejected the support/ trendline .
MACD cross over confirming bullish momentum.
Bullish engulfing candle off the resistance.
Stochastic and RSI above 50 with stochastic cross over.
NZDUSD us currently on a heavy resistance at 0.61562.
This resistance has held a few times in the recent past and we hope it will do the same again.
There may be a but more room for bullish movement so i am not going to enter yet.
looking for MACD reversal as well as a nice bearish candlestick pattern to confirm my entry point.
Market currently in overbought condition.
Looking at something like this for my next entry well see where the trend goes from here before we enter.
I'm just a beginner so that is why all of my trades are EURUSD (trying not to complicate my self).
Just caught a really good trend.
Price rejected the resistance at 1.08859 and started to put down heavily.
The bears took the charge big time.
RSI and Stochastic were in heavily bought territory.
MACD crossed over and i enered.
I got in this one at around 1.08742 with SL at 1.09000 (placed after the recent high as i didn't think it would reach that high again).