Why are we entering? - We are within a descending channel and a descending wedge indicating bullish reversal - 2 areas. Recent bottom or bigger double bottom - Expecting NZD Weakness What are we waiting for to happen? - Bounce off the recent structure bottom - Break of WFB for confirmation - If recent bottom breaks, look for double bottom What is our...
On the daily timeframe, we can see that every time EURUSD gave us a double top/bottom, it reversed from there. We recently bounced off a double bottom indicating bullish strength. If there's enough buying pressure, we can break the descending wedge to go back to atleast the 1.19 level.
Why are we entering? - Approaching major structure level - Anticipating EUR strength and possible CHF weakness = EURCHF LONG What is our confirmation? - Bounce off the structure level - 2H trendline hack (2H EMA is respecting price - will be using that for confirmation) = WFB break Entry SAFE Entry: Bounce off structure and then WFB Risk Entry 1: break of...
EURNZD - LONG Why are we entering? - Price created an impulse and is in a correction - Expecting NZD Weakness and EUR strength = EURNZD LONG. What are we waiting for to happen? - bounce off the bull flag support - If we don't get a bounce there, look for the double bottom - Break of WFB trendline What is our confirmation? - Bounce off one of the levels...
NZDJPY - SHORT Why are we entering? - Price broke the ascending trendline = bearish - Expecting further NZD weakness & JPY strength = NZDJPY SHORT What are we waiting for to happen? - waiting for the next correction to enter NZDJPY shorts - possible retest of EMA What is our confirmation? - Retest of 4H EMA - break of WFB once created Entry SAFE Entry:...
USDJPY - SHORT Why are we entering? - Expecting JPY strength and USD weakness - Price broke the ascending trendline = bearish What are we waiting for to happen? - Watch for price to move lower and create a correction What is our confirmation? - Break of WFB trendline once there's a correction Entry Safe entry: rejection of structure and break of WFB Risk...
AUDJPY - SHORT Why are we entering? - Price broke the ascending trendline = bearish - Expecting further AUD weakness & JPY strength = AUDJPY SHORT What are we waiting for to happen? - price to retrace back to the structure and EMA - Waiting to draw WFB What is our confirmation? - Break of WFB trendline - Rejection of structure - Rejection of EMA Entry Safe...