Nice simple resistance short trade set up on NZDUSD. This zone has shown previous 4hr rejections to be fruitful trades so I am awaiting another 4hr candle closure as a bearish rejection before shorting.
Targeting previous 4hr support levels at 0.66000
1.30500 is a nice intraday support zone for USDCAD and it appears to be holding strong. Bearish momentum appears to ave levelled out now and price is trying to bounce.
A long position up to the bearish trendline could provide good R:R
Weekly timeframe - bearish
Daily timeframe - bearish
Simple trend continuation trading the 1hr lower high and rejection of the fib 0.618 and 1hr 50ema bounce.
Aiming for a new lower low to be made.
*** extended target is the weekly fib 0.618 retracement level at $1332
I am still favouring short positions on US Oil from this 58.00 per barrel region.
Price has remained below the top TL of this consolidation channel and multiple 1hr rejections have appeared keeping price below the $58 barrel mark.
Simple flag pattern set up. I like to use the Fib 0.382 retracement level for an extra confluence and price seems to be rejecting it nicely.
Flag patterns tend to be momentum moves so I will target the fib -0.618 extension level for maximum R:R
Following on from late last weeks bearish move down, I am looking to sell NZDUSD on the next pullback.
1hr 50ema retest.
Trend continuation, lower highs and lower lows
Fib 0.618 level
Looking at the CADJPY bearish trendline and descending channel it is forming.
Weekly fib 0.618 retracement and daily fib -0.27 extension align at the 82.800 resistance zone. If another 4hr rejection of this zone and lower high forms then I will enter short.
Simple TL break and retest trade. I have applied the fib retracement levels and the retest aligned perfectly with the 0.786 retracement level. This is then a lower high on the 4hr chart.
I am targeting a new lower low on the 4hr.
CHFJPY has reached the weekly bearish TL for a 3rd touch. This aligns with the 0.618 fib retracement level at around 110.310
The 1hr bullish TL has been broken and price has retested and rejected it from below to form a lower high.
I am targeting the daily fib level around 109.00 to give an R:R of more than 5:1
GBPUSD is back at the 1.2750 resistance zone which has shown a lot of action on the 4hr timeframe recently.
I am shorting this fx pair here with the hopes it makes its way down to the 1.25 support zone.