EURCHF has broken above a trend line on the 4H chart & retested it from the other side.
We are now long in this pair waiting for a price increase from the current level.
Stops & profit levels are marked on the chart.
Here's a low risk long trade setup for GBPCAD.
Momentum has slowed in a support zone which also lined up with an ascending trend line.
We have a good opportunity to attempt a long trade with low risk & high reward.
GBPJPY has broken above a descending trend line on the 4H chart & below.
Scoping down to the 15m chart we can see price clearly respecting the trend line/support area with rejections to the downside.
Aggressive entries would be taken at current market price. For a safer entry, we would look to go long upon a break of the 147.250 area.
Manage your risk...
Price is trading within a descending wedge pattern & has recently touched the bottom level with halted bearish momentum.
This provides us with a long trade opportunity with exceptional risk/reward ratio.
Make sure to manage risk appropriately when trading.
Here we have a low risk trade opportunity presented to us on EURAUD.
Price has broken above a descending trend line & is retesting the trend line from the other side as support.
Long trades would be closed upon a bullish hourly candle close & a stop loss would be placed tight below the trend line.
We will post updates as this trade progresses.
Downside movement is expected for the Euro against the US Dollar in coming weeks.
On the weekly chart we saw a large head & shoulders reversal pattern form, and price has since broken below the neckline support & found sustained resistance holding below it.
We've also seen a smaller ascending trend line broken to the downside with a weekly candle close...
GBPJPY broke out of a descending trend line last week, exposing the pair to further potential upside movement.
A retest of the trend line may occur before price starts to increase.
On the 4H chart we can see price broke and closed below a short term ascending trend line, opening up possibility for a short term decline in price.
GBPJPY has formed a 5-wave motive wave & an ABC correction.
We would now like to go long from the current level with a stop below the C wave.
A simple, effective wave count with nice profit targets & great risk/reward ratio.
Updates will be posted as the trade progresses
USDJPY has been trading in a bullish corrective triangle pattern on the weekly chart for a while now & the E wave upwards is in play.
We are expecting overall bullish price action to occur for huge profit targets of 200+ pips (possibility of further extension) .
This chart is showing a nice long trade setup on the 4H timeframe.
AUDCAD recently broke above a descending trend line and has touched a resistance & came back down to touch the trend line from the other side.
What we would like to see is a retest of the trend line/.382 fib retracement/support zone that price is near to find long entries.
Stop loss would be placed below the trend line with profit targets listed on the...
USDJPY has been trading within a huge ABCDE corrective triangle on the weekly chart.
We have scoped down to the 4H chart to find a solid entry to a long position with extended profit targets.
Entries would be placed around current market price with a stop loss below the low around 109.000 - 109.110 & aim for targets of 110.000 & 118.000.
Updates will be...
Here we have a beautiful trade setup for USDCAD.
Since our last call price has declined by 160 pips, breaking the small trend channel formed during the ABC correction.
We've seen price pull back to retest the bottom line of the channel & it is now trapped beneath the 0.382 fib retracement level.
Strong upside rejections supports the likelihood of bearish...
Neutral bias on Gold at the moment, after respecting the break of a descending trend line & rejecting higher prices for 2 weeks we finally saw strong bullish momentum on Friday that broke back above the trend line.
Now we are anticipating one of the two scenarios marked on the chart to play out.
Scenario 1: Price will break above the nearby resistance zone &...
NZDCAD has been trading in a descending channel on the daily chart for some time.
After failing to reach the descending trend line at the top level of the channel price has steadily declined and broke below 0.9100 support.
Price is now treating this zone as resistance and we've seen a slow down in momentum.
If price declined to the 0.89150 support we would go...