As you know, I have maintained a bearish bias on this pair for a LONG time now.
Expecting a move down to 1.040.
Here is an opportunity to short from a higher time frame perspective.
Following the new low, we have a pull back into structure, a test of the EMA zone, a test of the 50 EMA, deceleration and a Doji signal for orders.
Nice reward to risk on this one...
1.8400 even handle providing a very high probability structure short showing signs via previous resistance, divergence, loss of momentum and a descending channel.
Targets at the start of the channel.
Major level of structure being tested on the EUR (in this case support) where there is a high probability of a reaction.
Stops are an ATR below the lows and targets at structure.
Good luck in the markets.
Nice level of key structure 9350.
As we approach the resistance of that level, we are seeing some deceleration, and an ascending channel.
Not being greedy with targets.
As per the chart.
Good Luck Guys.
Not a pair that I trade intraday but came across this high probability set up on EURNZD.
For those of you who trade these channels, you will be looking for a fall off to the target zone indicated on the chart.
Quick Idea, because it looks like it may play out very soon.
Good luck this week.
Following the short play last week, Here we have a nice test of the 141 zone which is a major level of structure in this market.
Will be looking for a tight stop then a quick in/out with good R;R
Have a great week guys.,
Following the recent break down of the daily compression channel, although I think this could be a short lived move for the bears, there is a high probability that we will see that breakout retest zone hold some resistance.
There are two advanced ratio patterns completing at that level for an aggressive short for a quick one in and one out.
Good luck in the...
Retesting the neck line of this slanted H & S pattern now.
Not my favourable slant and the entry will be heavily dependant on the close of the current session candle but a nice level.
RSI is pushing over bought too.
Will be keeping an eye on this level this morning.
Good luck in the markets.
As always, patience pays the bills. I personally don't like taking trades for the sake of it. I wait until I have a very high probability of being right and I make sure I win more when I'm right than I lose when I'm wrong.
Here is a lovely little set up on the EURNZD.
Daily timeframe showing massively oversold at a Major structure level being tested. Loss of...
As traders, we understand that we can only ever play the probabilities.
For that reason, we want to be able to identify where the high probability trades are presented.
If we can identify an area of the market that is likely to be respected, we can build entry and exit rules around that move and capitalise.
Lots and lots of confluence here and I will be keeping...
Following the Head and shoulders pattern break down, and perfectly respecting the slanted neckline, we have since seen further continuation to the downside.
Right now, we are seeing what I call a complex pullback which can be used to build a high probability entry zone.
First we have the Level of historic structure that has been respected more often than its...
Text book Breakout pattern on this pair. The more conservative traders would be looking for targets at a retest of the highs whilst the more longer term traders will be looking for the extension.
Not a pair I trade but will be monitoring this today for my personal portfolio development.
After watching the market push up during yesterdays AUD news, RSI went extremely over bought up at 97
The market then put in a nice Double Top right at that major 9700 even handle.
On the retest we saw some nice bearish divergence on the RSI so I got involved as soon as we had the valid retest signal.
Stops and targets as per the short position indicator.
As you may or may not know, I have been tracking this since December as the market started to respect the same psychological patterns that have stood the test of time in other markets.
We now have a bat completion at market so there could be a push down to the neck line of the inverted head and shoulders pattern where there will be another opportunity to...
Waiting patiently to see if we get the opportunity to enter short for my first chance entry on this H&S pattern on the EURUSD.
Some nice structure trades playing out over this last week particularly on the GBPJPY (see last post). Let it continue.
Good luck in the markets this week guys.
After looking bearish for a while on this pair, we have seen a higher low and a break of previous resistance on the higher time frames.
dropping down to the 60 min, we can see this recent bull flag pattern with a false break to the downside followed by a 3 bar reversal candlestick pattern.
Although we have to break above the 7 flat number, this is still a good...