While looking through major pairs this morning this one stood out more than any other. A nice retest of support turned resistance (1.2491). EMAs have crossed over, RSI in below 50, MACD fast in under lagging and Stochastic just about to cross also. There is a slight divergence on the RSI to the 1hr chart. This could be a sign of a trend reversal.
Price peaked yesterday on the ERGBP and started to plummet down rapidly. Major support broken at 0.90788 and a nice retest can be seen on the 1hr chart this may be a good chance for an entry on this one.I am personally going to hold my trigger until we see some more bearish confirmation such as the stochastic cross and the MACD cross. EMA has crossed this morning...
Support at 1.11934 is holding very well there could be a possible rise in price as the support was hit and rejected last night. Price is still below the 200EMA thought which goes to show there could still be some Bearish bais, with all of the other EMAs in the correct formation for a bearish market. RSI hovers just below 50 which also shows bearish bais in this...
We've taken a nice profit here on EURGBP.
Held over the weekend and recent GBP news has blown this pair up.
The blue lines are the adjusted SL that i use to follow the price and gain as much pips as possile.
e will close this trade when the 10and20EMA cross or the most recent swing high/low are hit.
USDCAD could be a possible set up for a short.
DXY Head and shoulders looking very likely so on the back of this we are going to be looking t get in on the action.
USDCAD looks the best set up t take advantage of this as we can see EMA cross a key area of S/R.
We are just going to be patent with this one and wait for the cross to be confirmed and a nice bearish...
Great chance to get into EURGBP here.
10&20EMA cross over.
Price rejected the support/ trendline .
MACD cross over confirming bullish momentum.
Bullish engulfing candle off the resistance.
Stochastic and RSI above 50 with stochastic cross over.
10 and 20EMA cross confirming change of trend.
Doji followed by a bearish engulfing candle off the S&R.
MACD fast line below the slow line confirming bearish momentum.
I got in to this one before stochastic was oversold.
Going to follow price down with a SL just aove each recent swing high / low.
Got any ideas?
Let me know.
10 and 20 EMA cross signalling the trend ins going to continue.
MACD is signalling that the market is still bullish.
Pivot Point, Trendline and Support all touched and rejected.
Follow the price with SL by placing it under the recent swing low.
This gives us the opportunity to follow the trend right until the end and catch every pip possible.
Here is my strategy...
Here we have a possible chance for a short on EURUSD.
As you can see we have at least 5 confluences here which is my golden rule.
-Rejection of PP
-Rejection of Trend line
-Rejection of Resistance
-All 3 EMA's are in the bearish formation
-We also have a stochastic cross over
i have taken 2 positions on this move of eurusd.
the first was right at the top of the head and shoulders which i pinpointed yesterday, following this all the way down until the retracement started to occur.
The second was at the top of the retracement, PP was hit and 50 fib was rejected so i waited for the confirmation candle on the 1hr chart before i took this...