Looking at AUD/NZD just need a Daily/Weekly reversal pattern to form before going short. If a Counter-trend line does form on the 4hr or Daily I will use that to help with more precise entries.
-We had a Weekly Uptrend break. It has been retested the back end of the uptrend previously for a 365 pip drop. It has reached our point of interest once again in which...
Looking to go short off of GBPNZD's Supply Zone. Looking for a break and retest on this 1HR/2HR CTL. Initial targets will be 1.9315 (Demand Zone). We can look to go long if confirmations are met off of the either the Demand Zone or The Uptrend.
USDCAD has approached a 'Supply Zone' the 2hr Counter-Trend line has been broken just waiting for this retest to finish and a solid rejection before going short.
-Initial Targets will be the Demand Zone. Next Targets will be the Daily/Weekly Uptrend.
-If confirmations are met and reversal patterns do form on the Demand Zone I will look to go Long.
Looking at the 4hr time frame this pair is at major Supply Area. It has failed to break through 111.950 on multiple occasions. It has come back to test this zone and once again it has failed to break and we can see a nice opportunity to go Short.
I'm looking at EURJPY on the Daily. Here's what I can see...
-The pair has come back to Daily High's of 126.700-126.800, If we see a similar Daily Reversal pattern form on this area such as a Shooting Star or a Bearish Engulfing I will consider taking shorts.
-I have drawn in an Upwards Trendline so price may pullback to a Key Psychological area 126.000 and...
Still have my short running from the previous gold trade I posted. However, Gold is starting to make it's way to my final target where we could look to go long. Wait for a reversal pattern to form before doing so.
Waiting for a break and retest on EURGBP. Price is currently at a key level psychological level '0.8650', so I'm more biased towards this breaking out below.
Possible targets for the Breakout below: 0.8510-0.8450.
Looking for EU to retrace back to the 61.8-78.6 and then drop. Will be waiting for a daily/4hr reversal pattern to form before going short. If a Counter-Trendline forms I will wait for a break and retest on that.
If USDMXN to bounces off of either of the trendline we could be looking at 600-2000 pips on this trade. However, we must wait for confirmations to be met before going in. I need the 2hr Downtrend to be broken + a 4hr/Daily reversal to form before going long.