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.
EURJPY short trade set up based on the 4hr and daily timeframe analysis.
- Daily chart made a lower high last week and is now pulling back to the 0.61 Fib level.
- Price has rejected the daily 50ema from below
- 4hr price is stalling at 125.500 key level
Targeting new lows on the daily and 4hr around 122.800
NZDUSD has seen some recovery over the last couple of days but looks to have run into some resistance levels now and we could see the bear market resume. We have the past support / resistance level of 0.67900, the 50% Fibonacci retracement level of the move down from Mondays high and the 50 MA. Stochastic is oversold, we do have a crossover but %D has yet to turn...
Here is a simple bearish flag continuation trade on EURUSD
Heavy bearish move last week followed by some nice consolidation on the 1hr timeframe. Price is now rejecting the Fib 0.382 retracement level with multiple wick rejections.
SL = 30 pips to put it above Fib 0.618 level
Profit target is at the Fib 1.618 extension level to take advantage of the bearish momentum.
Gold has been consolidating in a multitude of wedge patterns on the 1hr/4hr timeframes after the big drop in early march.
This is a bearish continuation set up for me as price is using before it will continue downward. This is a risky entry at the top of the 1hr wedge with a nice wick rejection candle.
Stop loss is places above previous 1hr highs.
NZDJPY has shown signs of a reversal at this level for a while now. The daily resistance zone @ 76.500 is holding strong and we finally have a break of the 1hr bullish trendline with a lower low being made.
Price has now pulled back a little and is rejecting the 1hr 50ema from below. Price is also below the daily pivot level so that is a another potential...
I am now shorting the EURJPY FX currency pair based on the 4hr and 1hr timeframe analysis. Confluences for taking this trade are as follows:
- 4hr lower high
- Multiple rejections of 0.618 Fibonacci Retracement level
- 1hr bullish trendline broken with lower high
- Daily timeframe showing tweezer top formation
I have placed a conservative stop loss which is 50...
Here is a simple short set up on AUDJPY.
Price seems to be making a lower high and rejecting the Fib 0.786 Retracement level. There has been a lot of price action at this level previously so there is potential for good liquidity to be located in this zone.
Decent R:R of over 5:1 if we target the previous lows and the 77.500 support region.
I would place my stop...
There is now another opportunity to enter short on the EURUSD currency pair.
I am still holding my short position from 1.14 because price made a lower low last week and it is now forming another lower high so my bias is still bearish.
- Lower Lows & Lower Highs
- Double top rejection of Fib 0.5 retracement level
- Price is rejecting 1.13 intraday resistance...
US Oil rejecting the key resistance zone at $57.50 which is a 3rd touch at this zone. Nice deceleration on the 1hr timeframe
By simply buying low and selling high, this set up seems pretty simple. We did see a 4hr lower low on Friday so excluding any complications, Oil may continue to drop off in to the low 50's over the week.
Stop loss is comfortably above the...
I still have a bearish bias on US Oil with price failing to break higher than its current level for the past few weeks.
Last Friday we saw heavy bearish momentum create new 4hr lows before sharply reversing in the afternoon/evening of the UK GMT timezones.
Price is now retesting a longer term broken trendline and is back in my liquidity zone marked on by the...
I have tried multiple times to short the S&P500 this quarter with little success. 4hr & 1hr trendlines that were broken then appeared to be fake outs and the index just kept on climbing. Resistance zones held and then failed and it has been quite messy.
That being said, the power of R:R ratio always comes through and the higher it climbs... the more it has to...