Simple double confirmation sell setup. Confirmations Include 1: H&S formation on 15min 2. RSI dropping below 70 on 1hour
First thing to note is that we have a bearish breakout below the ascending trendline on the 1hour timeframe. Additional RSI is suggesting selling pressure with the bearish divergence. == Game Plan == Wait for a pullback as outlined on the chart to enter a sell targeting a 3:1 risk to reward.
Gold - 24h expiry Price action continues to trade around the all-time highs. Trading volume is increasing. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. 20 4hour EMA is at 2068.3. Preferred trade is to buy on dips. There is no clear indication that the upward move is coming to an end. We...
Trade Idea for CADJPY Bias: Very Bullish Overall Score: 9 Commitment of Traders (COT) Bias: 3 Institutional traders are showing a robust bullish sentiment towards CADJPY, indicating a forecast of continued upside. Retail Sentiment: 1 Retail traders appear to be bearish on CADJPY. Given the tendency for retail traders to often be on the losing...
This is just a 1:1 R2R setup, however I believe this setup has greater likelihood of turning profit before getting stopped out.
EURAUD - 24h expiry Price action has continued to trend strongly lower and has stalled at the previous support near 1.6150. Price action looks to be forming a bottom. Further upside is expected. Risk/Reward would be poor to call a buy from current levels. A move through 1.6225 will confirm the bullish momentum. We look to Buy at 1.6190 (stop at 1.6154)...
Taking into account today's strength with the Swiss Franc, I'm expecting further bearish continuation with this pair. But before going short, I would like to see a pullback roughly to the 50% retracement area of today's bearish candle. Should price action pullback to my area of interest (AOI) I'll go short with stops above yesterday's high with targets down...
Today's daily candle closed slightly above yesterday's high while maintaining RSI divergence. With that said, I do believe we may see a bounce from these lows. Trade Idea: Stops below yesterday's low with targets around the 50-61.8% retracement area of this most recent bearish leg.
Possible EURNZD trade scenarios Enter with Ltf confirmation. For Direct 4hr zone entry manage risk. Manage risk 1:2-3 RR . Indicator based SMC approach. Follow and like for more setups .
WTICOUSD - 24h expiry Previous resistance level of 75.34 broken. Intraday, and we are between bespoke support and resistance 73.51-77.10. The sequence for trading is higher highs and lows. There is scope for mild selling at the open but losses should be limited. The medium term bias remains bullish. We look to Buy at 75.00 (stop at 74.20) Our profit...
Possible EURAUD Trade scenario on 4 hr timeframe Manage risk Make it breakeven at 1:3 RR Indicator based SMC approach Follow and like for more such setups
So this is a two step trade setup. First I need PA to drop and close below the 23.6 level Then I need a pullback roughly 50% of the bearish candle. If that materializes, I would then go short. Otherwise... no thanks. On to the next That's it - That's all Trade Safe
Daily timeframe, PA broke above 2 levels of resistance last week and now looks to stall out with RSI providing information on lack of bullish momentum. For now, I'm waiting to see my small green line on the chart get tested where I have an alert. Will PA break back below support which was previous resistance and will we test the 50% pullback area (small green...
All green lines on the chart are equal in length. I'm using the last green line as a projection tool which estimates BTCUSD above 50k around the first week in January. Should BTC pullback to 42k, that in my view would be an excellent area to enter with stops around 39k. == Simply in Summary == Long at 42k with TP at 50k and SL at 39k would be a simple 3:1 R2R...
Considering the fact that this pair is trading above the 200 SMA on both the daily and 4 hour timeframes, I'm looking for buy entry areas in this ascending channel formation. On the chart I pointed out several areas which basically are along the ascending trendlines. If at any point I receive an alert of price action tagging one of these trendlines, I'll look for...
EURCAD continues to trade within a wedge formation. I'm waiting for either wedge support or resistance to break. I have my alerts set for when this will happen. Upon receiving one of the alerts, I'll then look for an entry point. I'm not one to jump in on trade the moment we get a breakout. I've learnt my lessons the hard way many times in the past with that...
FAIL TO PLAN - PLAN TO FAIL So this trade plan is fairly simple. Rules to Follow 1. First and foremost, we need a break and hold above the descending trendline 2. Second, if or once we get the bullish breakout, we need price-action to pull back approx 50% of the bullish breakout impulse. This setup doesn't need a full pullback to support, which is currently...
Taking a look at the 4h chart, price-action remains confined in a wedge formation. RSI is suggesting we might get a bullish breakout as this is now the third signal of a break above 50 in this current wedge. The 50% Fib Retracement level is also something important to note as the most recent large impulse was an impulse to the upside. See chart below. I do...