Be careful of the volatile news affecting the dollar but anyway the downtrend is coming to an end and us seeing bullush momentum when price reaches 1.51 level it will jump. Price is well belo wboth EMA's and stoch is oversold.
As mentioned on the callout, we're likely to see a run up into the old high and beyond to take them out. Or it'll not take it out and just keep pushing down. This is a followup of the earlier NZDUSD idea mentioned below under related ideas. Good luck!
Strong uptrend so im following it. slight downtrend and choppyness has started because of heavy selling. price should come back up to normal. I could be wrong and price could touch the blue rectangle of support at 1.72619 level, if price does touch that rectangle a reverse is definitely going to happen. EITHER WAY I AM BULLISH
- Previous structure high big turning point after brexit - Market printing a clear range between brexit high and low @0.83289 - Bullish rally from 0.83 - Price stalling on all timeframes especially the daily printing indecision / strong wick rejection at this level which we'll be using for our entry signal - Entry at the low - Stops above the most recent high
- Simple setup and Entry - Market printing clear LH and LL's - Market stalled at 76. retraced back to 78. Making a new LL and LH - We have a short term preceding trend to the upside - We are going to use this preceding trend as a short term reversal for a long term trend - As some like to call it a correction in a downtrend - Entry at the low of the indecision...
Just spotted this bat pattern formation on the H4 timeframe with D completion around 40 pips below current market price at 1.71400. Entry: 1.71410 Stop: 1.70250 Target 1: 1.73780 Target 2: 1.75320 Please be aware that the minimum safe distance for a stop loss on this trade is over 100 pips. Be aware of the risk impact on your account if this trade is a loser....
Last week, USDJPY complete a bearish Bat pattern along with daily Outside Bar pattern and a daily False Break. My resistance zone that included the bearish harmonics, daily downtrend line, structure and the 50 days MA line held following a small daily false break and it seems like USDJPY is maybe heading towards the support zone near 103-104. A breakout above...
Overall encompassing trend is bullish However, as of recent price action failed to validate a bullish pennant structure formation. Looking to get in on a corrective retracement
PRICE ACTION TRADING. STEP THREE Find the forex reversal pattern. STEP FOUR Determined stop loss and entry point. PRACTICE,PRACTICE,PRACTICE AND PRACTICE SEE YOU AT NEXT VOLUME !!
Hi Trader, Thanks for checking out this idea. Here we have a beautiful 2618 setup formed on the hourly timeframe. It's not often that the double bottom is so nicely formed with symmetry and all, not that it changes the plan in any way :) The 2618 is a reversal strategy, so this is therefore a counter-trend setup. Price is currently around 100 pips above my...
After a powerful bullish trend the FX:NZDUSD shows a nice indecision candle on top of a resistance area. From the price action point of view this usually means that the bullish power might be transitioning to the bearish side. What do i do? I executed a pending order below the low of the indecision candle to go short. As always i keep my Risk/Reward a 1:2 ...
If Pattern completes i will go short as shown.. Lets see what the market does over the next day or so..
POTENTIAL BEARISH BAT PATTERN ON NZDUSD Keep It simple set and forget and let the market do its thing. I'll be placing my order on this pair. Good luck :)
FX:AUDUSD In this trade we can see a nice preceding bullish trend heading towards an area of resistance, next we see a nice pin bar candlestick which tells us that the bullish power might be transitioning to the bears. Confirmation is needed for me, so i executed a breakout entry below the low of the pin bar candlestick or also called Indecision...
Hi there, There is a clear 2618 selling opportunity setting up here on EURJPY on the H1 timeframe. If you are not familiar with this strategy, the 2618 trade is a countertrend strategy. Jason Stapleton introduced me to this specific strategy in his free training. Only take trades that are in your PREDETERMINED plan. If you don't have a plan, please get one before...
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Approaching an important support zone around 1.0820 Look for either a breach or a rebound from this zone. EUR/USD is trading in a range on the daily so I'd be looking for profits at the top or bottom depending on the reaction to this zone. Just a rough idea for stop loses and target profits. Good luck traders :)
TRADE TRIGGERED ENTRY ON FRIDAY........LOOKING FOR A BREAK OF TREND, NEW HIGH & CONTINUATION......