Simple flag pattern set up. I like to use the Fib 0.382 retracement level for an extra confluence and price seems to be rejecting it nicely.
Flag patterns tend to be momentum moves so I will target the fib -0.618 extension level for maximum R:R
Weekly timeframe - bearish
Daily timeframe - bearish
Simple trend continuation trading the 1hr lower high and rejection of the fib 0.618 and 1hr 50ema bounce.
Aiming for a new lower low to be made.
*** extended target is the weekly fib 0.618 retracement level at $1332
Following on from late last weeks bearish move down, I am looking to sell NZDUSD on the next pullback.
1hr 50ema retest.
Trend continuation, lower highs and lower lows
Fib 0.618 level
Simple TL break and retest trade. I have applied the fib retracement levels and the retest aligned perfectly with the 0.786 retracement level. This is then a lower high on the 4hr chart.
I am targeting a new lower low on the 4hr.
GBPUSD is back at the 1.2750 resistance zone which has shown a lot of action on the 4hr timeframe recently.
I am shorting this fx pair here with the hopes it makes its way down to the 1.25 support zone.
Simple short trade set up on CHFJPY
4hr is making lower highs and lower lows. Price is coming up to retest the bearish TL and Fib 0.786 level. We also have the 4hr 50ema here to act as resistance.
Targeting new lower lows.
Here is a simple short trade set up for GJ based on the current downtrend making lower highs and lower lows on all timeframes.
I am looking for a pullback up to the prior support now resistance at 138.00
This price level coincides with the 1hr fib 0.618 retracement level and the 50ema should be around there too.
Here is my 3rd scale in entry order set for the FTSE 100 index.
- Lower Highs & Lower Lows
- Fib 0.618
- Bearish TL
- 4hr 50EMA as resistance
- 7250 nice psych number
Aiming for 7000.00 level to be hit next.
EURNZD is rejecting the weekly fib 0.786 retracement level. I am shorting at this zone with a fairly aggressive stop loss in the hope of a break downwards. I will be paying attention to the daily/4hr TL for a break or bounce and will remove exposure at this level.
Short trade set up with good R:R ratio and it should also provide scale in opportunities when the 4hr trendline is broken.
Entry 1 is on the Friday daily close with a large wick rejection candle.
Entry 2 is on the 1hr lower high and rejection of previous support/resistance zone at 79.200
Targeting previous daily/weekly lows at 77.500 if the 4hr trendline breaks.