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...
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...
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...
Wait for confirmation of resistance from the upper trend line before the price heads down again.
This is supported by the high RSI level.
Like the idea if you agree and subscribe for more tips like this.
SSl recently has been recovering from a market correction. However, even tho the coppock curve and the ADX are saying this could be a buy, I see a hammer candlestick forming. This shows that the prior trend could be changing. So, I put a short position below the 50 MA. Also, volume seems to be decreasing.
Price is approaching a strong resistance level formed by a previous swing high. Would like to see the band start coming down to meet the candlesticks or for price to spike up, hit the band and then form a signal to get short. Stay frosty!
Aggreko has broken to new lows on a relative basis against the FTSE 100. The shares are under performing the benchmark index and the support services sector over the past 3 months. Further weakness is expected. Sell with a stop above Friday's high.