Possible long oppotunity on AUDJPY.
- In line with the current uptrend
- Positive confluence among indicators
- Price action confirmation; 4 touches on trendline (4th touch can be seen prior to Feb 25th 2021)
- rejection at the 61.8% Fibonacci level
This sets us up for a high probability trade, I line with the strategy.
Lets see what happens!
Short opportunity on gold.
Price has reached resistance at 1735 level.
We have some nice bearish rejection at this level as well as bearish confluence among the indicator.
Gold has been in a downtrend in recent weeks so we are looking to get involved in this downtrend with this short position.
My TP is at the 1680 level and a tight SL at 174 above resistance.
Possible long opportunity on EURCHF.
Buying at support where the price is holding.
- Going with the current uptrend
- 61.8% fib rejection level.
- Confluence among indicators
- Price action
Nice high portability setup.
Looking for price to return to the channel support and reject off the 61.8 fib level before going long.
Nice high probability trade, following the recent upward trend and confluence among the fib and EMA
Gold just did an important trend switch on the 2H time frame coming off what appears to be a double bottom at 1680. The switch is better seen on 15 min to 30 min time frames.
Normally the first pulse which this might be is followed by a minor correction before further movement in direction fo the switch. But strange things do happen.
This is a trend following...
This is a 15 min time frame, trend following set up. Price action looks uncertain and nosing slightly south.
As a trend follower, you know that you have to give the market much room to oscillate. Trend is more important than price.
Nothing in this set up means that I know the trend will continue south. All I can do is take an affordable loss. Hence, you find...
Still waiting for the breakout on NZDCHF.
NZDCHF has been in a strong uptrend in recent weeks. Therefore, I am looking to jump in on the trend using the continuation pattern as my chance to get involved.
The MACD and RVI have been very quiet, indicating that an explosive move may occur soon.
Before taking a long trade I will look for strong bullish 4h candles...
Seeing a continuation pattern forming on GBPCHF.
The ascending triangle is an indication of a continuation of a trend.
GBPCHF has been in a strong uptrend for a few weeks. We see an opportunity to jump in on this trend following a break out of the triangle at 1.2970.
This is nice risk-off trade, following the trend and keeping a nice tight SL just below the...
Flag pattern clearing forming on 1H chart.
This pattern can also be seen up to the 4H chart.
This flag pattern is a possible indication of a continuation of the bullish trend we have seen on USDJPY in recent weeks.
Strong rejection at support @ 108.40 would confirm a buy or you could wait until the break out and retest at 108.80 for a more risk off-trade.
Anticipated losses have reached the 1.3775 low of 12 February, where unwinding oversold intraday studies are prompting short covering and consolidation. However, daily stochastics and the Tension Indicator continue to track lower, highlighting further deterioration in sentiment and scope for further losses in the coming sessions. A later close below 1.3775 will...
14:15 GMT - Anticipated losses have spiked below congestion around 0.7650, with unwinding oversold intraday studies prompting a bounce from the 0.7620 Fibonacci retracement. Short-term gains are possible, before negative daily stochastics and the falling Tension Indicator extend losses still further. A later break below 0.7620 will open up critical support at the...