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
I am looking to keep selling GBPAUD on the next lower high. It is continuing to make bearish waves on the 1hr/4hr timeframe charts.
Using the upper trendline and Fibonacci Retracement tool, it can produce some very good reward:risk ratio trade entries.
Entry Price - 1.86800
SL - Above TL and Fib 0.786
TP1 - New Lower Low
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Shorting GBPNZD at the retest of daily pivot and fib 0.786 level.
These lower timeframes are showing lots of volatility but lower highs and lows now made. Higher timeframe bearish trendline rejected this morning.
Targeting a new 1hr lower low
Following on from consecutive higher highs and higher lows on this timeframe. I am now looking to go long on NZDUSD here at the bullish trendline and fib 0.786 level.
The daily 50 EMA is also at this level and should act as a higher timeframe support.
I am targeting a new higher high at the 0.65 key level which coincides with the fib -0.27 extension level.
I am shorting CADJPY down to the 81.250 price zone.
Currently price has made a nice pullback and is forming a new lower high after rejecting the 83.00 resistance zone. I anticipate 2 more bearish waves down to my final profit taking zone before price either breaks or bounces from the target daily bullish trendline.
USDJPY has made a nice pullback since last weeks sell off. Looking to short at this 108.800 level and target a new lower low to be made.
Price is back in my 4hr resistance zone and I will have my SL placed above the 0.786 fib retracement level incase price wants to go up and retest it.
Decent R:R of over 5:1 on this trade if it makes a new lower low
Got a nice short entry opportunity at 140.480 looking to take price down to new 1hr/4hr lower lows at 139.200.
Fibonacci 0.786 retracement level and upper bearish trendline in this zone. Stop loss above previous highs.
Although it appears quite choppy, EJ has made a lower low on its last wave down on this timeframe. I am therefore looking at the current rejections of daily R1 and the fib 0.618 level as a lower high.
I am shorting at the 121.00 key level and looking for a quick 4:1 RR trade down to new lows at 120.00
Price could break lower than that by I will manage to if/when...
I am looking to short EURJPY down to the 2 support levels I have marked on the chart. Strong bullish move over the past 2 weeks and the daily trend is considered bullish so I will take profit at the levels marked.
I anticipate a higher low made on the daily chart next but still a good chance to get some profit from a counter trend short.