I will aim to post one or two charts here per week. Most likely near the start of each week. Price on this pair has just passed our TP level for our short positions and then proceeded to reach the bottom of this longer term structure. We are now able to take a fairly safe long position. Our initial and main target is represented by the horizontal green...
The previous chart showing this trade setup (along with the majority of my other charts) were hidden/deleted due to accidentally breaking the rules with my descriptions. Sorry guys! I'm re-posting it since it was still on my screen... Black line is entry, green line is initial TP level, red line is SL. I don't know how much of a demand there is for me posting...
Possibility to make some pips on the upside here.
But we can take a chance and go short. Looking for a rejection at the same level price closed from a previous rejection last week, as you can see on the chart. Very tight stop with this one.
Please see related idea below. In step 1 we took some pips within the structure while we waited for it to break. In step 2, we took more pips as price broke out of the structure (as described in related idea). I was too busy to post the chart here though. Now in part 3, we see the price has came back down to test the structure that it has broken out of today....
Please see 'related idea' below. Been longing this pair for a while now in an attempt to reach the final target. Made many pips on the way, but it has been fighting us.. Maybe now we can put this one to bed at the final stretch.
Watch here carefully. A break above this point indicates a climb back up to the previous high. Otherwise, retesting the most recent rising support is the next target.
Green horizontal line is TP, red is SL. A break below the rising support is a clear signal to abort this trade.
I entered at the grey line, but I don't post here regularly or on time. But here is an idea for you all anyway. You may want to wait and see how price reacts around TP1 area before actually taking profit there. Good R:R, so enjoy. Visit renforex.com for more if you are happy.
The bold lines represent a generic looking flag formation. See how the high and low of the flag matches previous important price levels? This is how we determine breakout. And as always when looking at a "bear" flag formation, the bias is for the downside. However this is not guaranteed, so you should always wait for confirmation before entering the trade. A...
Not exactly a safe trade, as going against the trend. But it is what it is. Hopefully the channel is helpful for you though.
A break of current short term trend will see the price test the rising long term trendline below. Selling this scenario and then re-buying once complete will result in the most profit. If not, these steps may be skipped and price will see another spike up (less likely)
A short term long trade. Currently only posting 1 small trade per week. I actually went long a bit further down, but forgot that I hadn't posted anything yet this week.
Green lines are targets Red line is SL Black line is entry point I will only be posting 1 trade per week at the most on tradingview from now.
See the related idea for the bigger trade. This is to show where new entry points can be taken.