how safe is this spot to enter ?
is it likely to lose momentum and reverse or will it complete the run to the other zone.
to have profited one would have entered at the zone at the bottom and after the consolidation on the resistance line. 2 opportunities for a longterm trade. candle sizes remain consistent and healthy , next week continuation or not?????
Bought the fear of trade war Yuan news, looking for a long term uptrend with medium term healthy swings within a steady channel.
Looking to swing trade tops and bottoms as long as we are in the parallel channel.
I look for opportunity in stable range, slow volatility, good entry / exit points and also it helps if the company seems well placed for the current...
Nice clean and strong downtrend on the 60 coming off minor support but I think it can get retested at least. Daily held support and currently oversold in a downtrend which is slightly conflicting but decision is made off the 60.
EurAud has put in a new low again on the 60 with a Head and Shoulders pattern on daily adding confluence to the setup. I think we can get a retest of the lows at least and wouldn't look further due to the divergence on the RSI swings but a decent opportunity nevertheless.
Minor break so we can expect a slightly deeper pullback preferably and 'expected' from the zones drawn out. Some room to go down lower but I will only play for the retest if an entry reason presents itself.
Decent Long opportunity on the NzdUsd with some room to go higher after a few levels of structure being broken, You would want to be wary of the minor zone below the killzone drawn out but a decent opportunity. If we get the pullback I would be looking to buy it up.
Decent opportunity on the Chf today with some room to go down to the next level of support, pullback in this killzone is something to look at for an entry reason. Specifically like the minor level within the zone for but anywhere there works.
NzdCad has created a new low on the hourly with some room to go to the next support level, head and shoulders on the 5 min pullback and entry. Not the greatest setup and you can definitely play about with stops and targets on this setup.
A potential shorting opportunity, coming of decent impulses to the downside, nice small level of resistance. You want to be wary of the higher timeframes (Daily) as we are at wicked support which does make it a bit more uncomfortable.
NzdUsd has put a decent impulse in bouncing off minor support, we can possibly see relief to the killzone in which I would be looking for a retest of the lows and even a continuation lower. Potential head and shoulders on the 5 min currently so can see that relief as more likely.
Small opportunity on the EurJpy, despite us reaching support I do think we can retest the lows of the 1hr close. The Daily can put a bullish head and shoulders pattern but I think this move is possible due to RSI showing strength on the swing.