Here is my second attempt, and dare I say it, the better analysis for a gbpusd short trade. I tried shorting this yesterday @ 1.22 with reasonable immediate success but was stopped out this morning.
In hindsight, I was looking at the lower timeframes too much and not using the bigger picture. Price is now retesting and rejecting the 1.22500 support/resistance...
Possibly change over from support to resistance around the 1.225 around could see it head to the 1.186 area towards next week.
We can see a rejection of price from the bearish wixs around the 1.223 @14:00 on the 21st and the 20 EMA indicator looks to be confirming a down trend.
Simple day trade on GBPUSD using my own strategy. Nice bearish trend and I am simply following that with the use of some indicators. The spike in USD pairs this afternoon as given me a good discounted price to sell the Cable FX pair.
Stop Loss of around 30 pips to avoid any spikes in price. Target profit levels are on the chart.
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I am shorting GBPUSD down to new lower lows. I think this consolidation for the past 2 days will break and selling will continue.
- Stop loss is above the 50EMA and near 200EMA above these wick rejection candles.
- Profit targets are at the previous lows, -0.27 fib extension, -0.618 is the extension final TP.
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Here is my 3rd and final short trade set up on Dow Jones index. Previous trade entries have seen drops of over 1000 points each time which is significant profit but I believe this time we will likely see a drop of 5000 points or more.
The $24,000 resistance zone is holding strong with 2 clear rejections now and price is beginning to rollover. Buying momentum is...
There is potential to get in on a short trade on Dow Jones at 23,500 level thanks to a very clear head and shoulders pattern forming on the 15 minute timeframe.
I have circled the key points to the patterns and the 23,500 seems like good resistance with prior rejections occurring there. A short here and sell-off could see price reach the daily pivot level or...
Nice TL break and rejections of the daily pivot level form below. We have a lower high forming and I am confident price will now make it's way back down to near term support at 75.500
Nice R:R of 4:1 and stop loss conservative above the current wicks.
Price is showing signs of rejecting and bouncing from the $1610 resistance zone.
Stop loss above the highs. I ma looking to trade this one back down to previous support/resistance and the broken wedge TL.
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Gold recently broke a nice bullish trendline on the 4hr timeframe that had previously support price for around 3 weeks. Since then new lower lows have been made and price has pulled back.
At the current price around $1570 there is a nice intraday support/resistance zone and the 0.50 fibonacci retracement level.
Price is showing signs of rejecting this price...
Nice higher timeframe bearish trendline short opportunity on USDCAD.
Bearish daily trendline and fib 0.786 combo. Looking to trade this pair down to the previous support at 1.29500 and potentially new lower lows at 1.28500 if the support breaks.
Stop loss 40 pips above the current level and TL.
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Nice short set up on Gold. Price has found 4hr resistance at this level which aligns with a previous intraday resistance.
15minute timeframe showing signs of weakness and I am looking for price to drop from here down to the bullish 4hr trendline that I was trading last week.
Stops above the current highs and target profit at $1562 or the trendline, which ever...
Simple short trade set up on USDCAD.
Nice 4hr rejection of the daily 0.618 fib level. Price is rejecting it and has the potential to make a daily lower high here before heading back down to previous support at 1.29500
Risk trade - Short here at the 0.618 (1.31800) and hope for the 1hr trend and 50EMA to break.
Easier Trade - Wait for a 1hr lower high to be made...
I am now short EURAUD from 1.62500
Looking to trade this down to daily support at 1.59800/1.60
Bearish top trendline nearly rejected, got my stop loss placed above to keep it safe. Nice key level resistance zone at 1.62500 which should hold strong and see price reverse.
Fundamentally, I am looking for Euro weakness going in to the future as Brexit occurs this...
Looking to short GBPAUD now after the nice 1hr rejections forming at 1.89 level.
4hr 50ema and multiple fib levels to act as resistance.
Nice sell off last week and after this early consolidation I am predicting price to sell off once again. Aiming for the support zone at 1.86750 for my first profit target which would be a 1hr lower low on this trend.
1hr counter trendline broken and retested. 1hr lower highs and rejection of 50EMA
Daily/4hr trend is bearish. price is rejection 1.30500 previous support now resistance.
TP1 = 1.29520 support
TP2 = 1.29200 new lower lows