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USDCAD this is a nice place to enter for a short.
stop loss should just be above my blue line.
FOR THOSE THAT have been keeping tabs with
my analysis, you should have made lots of profit on this pair. :)
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Its been a while since I entered with this setup, but this one had a case with historical support and resistance area coinciding with the 2618. A clear double bottom, right at the level. With a break to the upside (break of the "v" point of the double bottom) followed by a 0.618 retracement - and here we already see some reaction.
Targetting retest of the ...
Im buying into the strong support showed by 0.618 fib together with 1.285 round number.
For target prognosis Im also using fib - same level, 0.618 which coincides with another round number, 1.31.
Long NZDUSD, the pullback hascontinued to develop after the failed entry at 0.7422 (now marked as pink (w) ) because the pullback has oved from 3 waves (a-b-(w)) to a much larger 7 swing move we have moved up a timeframe to the 4 hour chart, this means that stop loss, likely lenght of trade and potential return are larger
The USDJPY has changed, having been essentially flat and choppy for the last 12 months it now looks to be taking on a bearish outlook. This can be seen as a combination of the price action, the dropping economic performance as measured in the surprise index and the Trump administrations seeming failure to get anything done. Debt ceiling talks are approaching, ...
Selling the US Dollar, the dollar has been strong for some time however the run higher is beginning to look extended across a number of pairs.
The USDJPY is shown here, i expect it to top out around 115 and intend to use that figure as timing for trades on other pairs.
The Yen is likely to remain weak but the 115 area may be reached at the same time as the ...
Posted earlier on my telegram - https://t.me/timmynorin
We see a revisit of the previously broken falling trendline / top of bullish pennant. This area also hold fibo confluences and previous structure- and resistance zones.
I use this area as a first level to put on another set of buy orders with targets 1.13 and 1.14. We might even see a retest of a previous ...
Here I'm trading the potential scenario where we have a retrace down to 61.8% fib of the recent bullish leg. This is then followed by a long opportunity. Will update this post when we get to this point.
Behind this idea we have a bullish reversal which is showing by change in momentum and a double bottom followed by a break to the upside (of the V point of the ...
In our case we have trend line being hit and respected, historical support and resistance area respected thus far, 0.618 fib retracement on higher timeframe, and a 0.382 fib of recent bullish leg being our first entry.
You can see the breakout from the consolidation channel within orange.
Buying zones in strong light green.
If we close below 1260 we will most ...
I've been eyeing this opportunity this since last week. Price have failed 5 times (and counting) to break and close below 1.0650 (seen on 4 hour), which also happens to line up more or less exacly with 61.8 fibonacci X-A.
We're coming from an oversold condition, momentum seems to be turning around - could this simple setup wield profit?
Overall, the break to ...
If you are following me on Telegram (https://t.me/timmynorin) you saw my entry and targets this morning on GBPUSD.
We had a double bottom, with several failed attempts to close below 1.2400 - together with heavily oversold conditions and a historically strong support and resistance area. A good case.
What I was looking for was a pullback that we could profit ...
GBPUSD giving buying signals after struggling at 1.2150 and failing to close below.
Targetting 1.2300 before looking for bearish confirmation again.
Entered first position at 1.21870
Simple structure and trend continuation setup.
We have previously strong resistance to, hopefully, act as our support in this trend continuation trade.
Together with the support, we also have a trendline which should add to the case.
..and we also see the double bottom at the previous resistance level.
This pair has been respecting structure and trend thus ...
My clues here are;
Confirmed support at previous keylevel.
Keylevel coincides with bullish trendline
Several pointers towards a triangle forming
My stoploss is above 1.05000, lets see if it bites me.
Target 0,618 fib of A-D move, and just below another weaker keylevel.
After our successful short we find ourselves with an opportunity to get long.
>Trend line (triangle) support at bat D completion
>Psychological support at 1.24000
These combined gives me a clear signal to enter.
Target conventional 0.382 fib of A to D (the lowest point)
A bat-pattern together with heavily oversold conditions signals me to go long on this pair, with target just below 38.2% fib of C-D leg
Lets see if we fly
Batman shows himself, giving us a signal to get long together with heavily oversold condition and support area that should provide some ground to reverse.
Order is filled, lets see if we fly.
We have an opportunity to get long with the backup of batman (if he's with us this time). Entering after sign of a bullish rotation. Applying the thought process of a 2618 with retracement to 0.618 fib after a double bottom.
Target 0.382 fib of C-D leg of the bat.
Stop loss just below the lows.