If the EURUSD is going to turn around, its going to do so in the next 100 or so pips. I would expect a strong overthrow an nice wick below shown trend line to make it bearish, on the other hand if it breaks this area and continues up we could be in for quite a ride north. IE much more dollar weakness. Lets observe the news tonight for more information.
This chart still has the same parameters of my UZar trade in the last weeks. Since we took profit on that chart I decided to post another chart of the same trade, this morning things got to bottom of support so I decided to jump back in. The previous trades stop would never have been hit had we remained in the trade however i prefer to take profit when possible. I...
The Dollar has been under a lot of pressure lately. I think it could be a rough year but its still pretty early. That being said we will most likely see a short retrace before continuing any fall. Simple SD trade, I will move my stop to profit as usual when I have the chance.
I almost pulled the trigger yesterday when i posted this, however we just could not get a clean break of the trend line as I said i wanted. Now today I think this is a decent looking trade with over 2 to 1 risk reward potential. Parameters on the actual chart.
Audjpy found itself making a move up due to a falling wedge breaking. Now it looks to be flagging, to make sure the trade works in our favor we will wait till the price action close above the upper trend-line. Then target the rectangle. Dont forget to wait for a break of the trend line to confirm the trade. Getting in to early can cause draw-down.
Im a big fan of this current price action on AU, mainly due to having a cheeky long on GA i just posted about. I I love the trendline break and then the follow up retest of the underside of the broken pattern. Its all very pretty and straightforward. Really nice R&R
This simple long trade is a combination of S&D, FIBO, and a custom indicator. The risk and reward ratio is nice here and i think it will be a successful trade. Provided it gets near my stop I will evaluate the S&Demand area and consider moving my stop to that zone. My general rule of thumb is I can move the stop 1 time only If I find a nice place below my current...
I think UCAD is warming up to the idea of a strong potential up move, however I will set my first target to the rectangle as shown on the chart. Once we hit this level I will put stops in profit and take some off, then re evaluate the position for more potential upside. I have 1 open position 1 position pending if the UCad makes another move down.
Im thinking about looking for a short opportunity on the GBPJPY sometime soon. I see a decent wedge building up to the 38.2 zone which would be great for a chance to the short side on a clean break and retest.
Ill be watching the NZDCAD daily chart very closely, would like an overthrow to the topside but anything can happen from here, this is why i will make sure to watch for the break, or the overthrow attempt
The EURNZD has made a decent move up, clear correction at this SD level. I think another move up is in the cards soon after consolidation is finished, ill wait for a break of the trend line and perhaps a little retest before I commit