Here is a simple, yet effective long trade on GBPNZD . This is taken from my own day trading strategy which incorporates a few technical indicators and common sense to enter accurate trades with good reward:risk ratio.
Entry Criteria - Bullish rejections of daily pivot level. Price closed above.
Stop Loss - Below current lows.
Target - Daily Support 1 level (S1)...
Here is a potential long trade set up on the Euro / New Zealand Dollar FX currency pair.
Daily Timeframe - Nice rejection of the daily bullish trendline drawn across the last 2 higher lows. Price has made higher highs through September so the higher timeframe is definitely bullish for me.
Lower Timeframe - Price has broken the 1hr bearish trendline and produced...
This is another long position entry to go on CADJPY along with my previous daily swing trade entry from a few weeks ago. (see linked idea)
4hr higher highs and higher lows.
Bounce off lower bullish TL
0.786 Fib retracement level held strong.
Looking for a new higher high to be made now.
Check out my blog site for more free trading education and technical...
Potential short trade entry on USDCAD this morning. This is a scaling in opportunity after my original short entry from 2 weeks ago. (see linked ideas).
Price has made lower lows on the 4hr timeframe chart, broken the support level at 1.32620 and is now retesting this zone. Alos here is the 0.618 fibonacci retracement level.
I believe price will now make a lower...
I am looking at a short trade on EURAUD.
There are multiple daily lower highs on that timeframe with price making a lower high last week. A nice bullish spike upwards last night is looking like a good discounted chance to get in short positions.
On the 4hr chart we have a CTL break, retest of this TL and the fib 0.618 retracemement level.
TP1 is at the fib...
Daily timeframe has hit resistance at this level.
I previously tried shorting on a flag pattern but it didn't work out. This is my next best short opportunity.
I am shorting at 1.33120 which is rejection of the upper TL across the 4hr lower highs and fib 0.786 retracement level.
TL break next - maybe scale in again.
TP1 is previous support/resistance zone
I am looking to go long AUDUSD up to new highs on the daily trend.
Price seems to be making a higher low on the fibonacci cluster zone at the 0.618 and 70.68 retracement levels of the previous swings.
Stop loss below the levels and targeting a new high at 0.70
Short trade set up on GJ.
Lower lows and lower highs made on the 4hr.
Last weeks candle closed very bearish.
Weekend gap up not fulfilled yet.
Shorting at 140.200 with a nice 35 pips stop loss to keep it above previous highs.
Looking for a new lower low to be made for a 4:1 RR trade. Longer term target is shown on the chart at the daily trendline and previous...
Here is a simple, yet effective short trade on GBPUSD. This is taken from my own day trading strategy which incorporates a few technical indicators and common sense to enter accurate trades with good reward:risk ratio.
Entry Criteria - Bearish engulfing candle closure and rejection of daily pivot level.
Stop Loss - Above current highs.
Target - Daily Support 1...
All CADJPY short positions now closed.
I am looking to trade the daily bullish trend up to new highs. Trendline bounce, daily rejection of bullish trendline and fib 0.618 retracement zone.
Stop loss below the shaded zone on the chart.
Profit target at daily fib -0.27 extension
I am still buying oil on the bounces off this bullish trendline. Until this trendline is broken, US Oil is still bullish in price action with higher highs and higher lows being made.
My target sell zone is $60 per barrel maybe $60.80.
In my opinion, I believe GBPUSD will sell off from these daily levels at 1.29800. Daily is struggling to break through resistance with 3 separate tests of the price level.
There are multiple daily wick rejections here and I think Cable will now snap and sell off down to the bullish daily trendline I have drawn on the chart.
Key levels to watch:
There is potential for a long trade entry on AUDCAD next week if price continues to fall back down to my desired entry zone at around 0.89500.
Daily Chart - Bearish trend broken, price has broken out of its little sideways range and made new higher highs now.
4hr Chart - Higher high made, consecutive higher lows. Price is pulling back to the bullish trendline...
Nice trend continuation set up on NZDUSD.
I took a loss on this last week but have found a better entry now. Price has found support at the daily 0.618 fib retracement level.
On the lower timeframes price has found 1hr support, broken the bearish CTL and made a higher low here.
Looking to trade this pair up to new daily highs at 0.65200
I am looking to go long gold back up to the $1482 support/resistance level.
Price has made a higher low this morning on the lower timeframe so I am using this as a sign of momentum slowing. This set up has good reward:risk of over 5.7:1.
The low risk entry would be to wait for the short term bearish trendline to be broken first.
Stop loss is below the lows at $1447