Our entry order got triggered in yesterdays trading day & the pair has currently been in a consolidation zone for the past 4days now between 0.69090 & 0.68500, We are looking for a clear break & retest of 0.68500 for further downside momentum. If the 200ma fails to break we will be looking to close the profit manually.
Currently shorting the GBPCHF, I have been in the trade for 1 week so far, already gained 75 pips since the trend reversed.
The RSI, MACD & Slow Stoc have confined this range will continue for some time. I trade on the daily chart only, please use self analysis before placing any trades.
I aim to hold my position until my slow stoc crosses over once more.
Looking for a rejection on the resistance level before entering a sell, as there is potential for XAU USD to break through the resistance level.
Gold touched the lows of January early in the week but has bounced back and is now at the best levels since last Friday.
The rebound underscores the $1275-$1300 range that's characterized gold for the past three weeks....
Here we can see EUR AUD has been in a strong downtrend making lower highs and lower lows at bottom resistance level we can see price cannot break below it any further and make any new lows. So now descending trendline has been broken and currently on the break and retest where it lines up with our favourable fib zone. Great R:R as well.
In the chart above we are looking at the AUD/JPY pair on the 12hr.
To precisely enter successful reversals we need to maintain a very strict trading criteria in order to benefit the most out of our reversal trades.
Questions we need to ask before entering a strong reversal:
- Who is in control of price?
- Have we reached a strong area of Support/Resistance?
we have 2 potentials here.....
1. new have our first reversal zone ranging between 74.100-74.400. we have a already had one rejection in that zone. the TP we have is 140 pips. mini head and shoulders
2. our second reversal zone which ranges between 75.550-75.100. back towards the end of september we see this level reverse so if the first idea breaks I will see...
GBPUSD has come into our sell zone between 1.28500-1.2900 also hitting our fib extension and rejecting thus far. shorts now in play! Brexit vote coming into play tomorrow could be a huge catalyst for this pair to go down south as i believe GBP is way too overpriced given the turmoil it is in with the whole brexit mess.
Overall, we may look at EURNZD as a buy, but before, we can catch a sell on the 1H downtrend it's forming. Price was in a consolidation zone, but a break and retest fits in with the 61.80 FibC zone, where we see previous rejections as resistance and support. This is where we can place a sell all the way down to the -61.80% extension, which fits nicely with the...
Heading towards the top of the ascending channel on USDCAD, multiple confluences including prev resistance & possible double top forming on Daily TF therefore I believe we could have a great sell opportunity around the 1.37500 level. We are in a strong uptrend however we are over extended and have a lot of 'empty space' to fill below. Looking at the smaller time...
Price is currently in a descending channel testing the channel support and resistance multiple times. However, price is now testing channel resistance as well as a resistance level (which was previously support but now is a key resistance in the market). Price action is stating three rejections and now has formed three 'Shooting Star' Japanese candlesticks which...
This is a potential swing trade for AUDCHF.
It is at its fourth swing of elliots wave and is looking to finish off its trend,
There is a cross of two trend lines on a key zone (lines up close to the 61% fib)
The target zone also lines up nicely with prior market price
The 61% also lines up with previous support that has now turned into resistance.
Im also hoping...