The bears seem to be in-control of price action... we found this setup just now and we're leaving in over night.
There are 3 profit targets, on the 4H price broke a trendline support so im targeting the bottom levels.
We're a day trading community generally, rarely do we leave trades over night but this one looks good for it.
We took a short on this forex pair (EURNZD) with the idea that price action could continue the bearish momentum as it has over the last few trading sessions.
RSI is up, Price rejected the 38.2% plenty of time. The middle of the DC is around the resistance too which would indicate that the trend "should" remain bearish.
We're short on GBP pairs today, we believe there will be a GBP reversal soon, not sure to exactly where but we have strong indications it will drop.
We shared a similar view for a stronger USD yesterday in our discord community for the US session.
The chart is clean, we focus on profits and not beautiful and dirty charts.
Ok so we are long on XAGUSD, also long on NASDAQ and a few other pairs, no time to go over that right now.
I believe that XAG and XAUUSD can reverse to the upside in the coming hours and trading sessions.
In this reticular trade, we have the following:
- Entry at the fibs with selling price action slowing down
- RSI in the lows
- A trendline acting as a...
Hey all! I hope your weekend was superb, now lets get back to making money!
We are going to execute a EURGBP long in the early Monday market open and the reasons are,
- GBP looks weak vs USD and other pairs (IMO)
- RSI is low and meets our entry cretaria (with the fibs)
- Price is at the 38.2 / 30 support zone and already rejected it ones
- The bearish trend is...
I think that BTCUSD has an excellent chance to continue up from the 18360.0 zone. There are lots of solid indications, here are the ones I see right now on the 1H chart.
Support level and solid rejection candles in this zone
The last 1H candle, created a strong bullish pin bar
RSI is below 30
The 61.8% fib retracement lines up with the supply/demand zone
We've gone long for an overnight position on EURAUD.
We believe that the 30% fib retracement can hold out, but if it doesnt, our risk is only 20 pips. Remember, that successful trading is making money over time and not having a beautiful 90%+ win ration.
The trade parameters meet our entry triggers, which is the support of the fib, RSI being low and some form...
This is the second time we go long on the DAX today. The first one was a London open 2m clap long that earned us a quick 750eur, pays the bills ;)
This one however looks to be a better setup for the NYC session, we have 3 sets of TP listed and we might close out an any given level.
RSI is in the lows, the 10m chart has a contraction leading to the 30% level and...
We're waiting to go long on USDJPY, yeap! We are expecting a weak, weak YEN!
We are already in a solid profit on XAUUSD long, idea attached to this post. But, lets now focus only on the USDJPY forex pair.
The view is the 4H chart, we have RSI coming in the over sold zone with price strongly heading to the 38.2% fib retracement and its all connected with a...
WTI is showing me excellent shorting signs right now... and based on the video analysis I am sharing with you here, it might just all go to plan!
Our complete system agrees there is a higher porbability of down-side than upside! (Some profit taking could occur)
Ok, so we already took this trade not too long ago... and the profit is decent so far, I will try to make a video about it later and connect it to this trade to help explain why we went long.
The system we use is pretty simple, yet very effective (as our myfxbook shows)
We believe XAUUSD is in a bullish trend at the moment and is trying to push towards its...
Im short on US3 and still long on NADSADQ, since the elections they have a negatvie correlation and this trade looks like a solid sell!
RSI is over bought, price rejected 38.2% of the recent high to low and created a rejection / reversal candlestick
Furthermore, a trendline has supported price heading to the levels and price moved slowly after a big drop...
I prefer making videos... but the last 2 videos I tried to upload get stuck at a certain percentage and the upload stops, so... pics it is :)
Im short on XAUUSD, here are the reasons:
Price action strongly rejected this level in recent time and my entry system has ticked when the lower has was made recently (and price couldnt break above my fib resistance...
Initally I made a video explaining exactly why we are long, also showing the profit we made on the sell side and why we were day trading it down but preparing a buy on the swing. (You can see it on our YouTube channel).
As you can see we have a solid resistance level that has turned into a support, while we also have price creating higher highs and higher...
The video explains exactly why we are long on EURGBP this morning, but it also details our trading system and explains exactly how we trade.
The main point is that we only enter on the Fibonacci retracement, but we use it a little different than everyone else!
Anyway, enjoy the video... more posts coming later