I am looking to enter short on USDCAD once we see a break of the 4H uptrend. On weekly we can see price making an impulse move down, followed by a retracement tapping my order block where my ideal entry would have been. However when this TL is broken I will be looking to short and hold for a couple weeks. First target being the previous swing low @1.3020...
Originally I was short for EURUSD but after some analysis with a friend I am now seeing a potential move to the upside. We can see a break of the descending downtrend on 4H and price has now formed a pennant structure. I will be waiting for a break to either side of this pennant. But looking at the massive engulfing daily bull candle from August 5th I believe...
Just a quick analysis of gold as I go over my pairs for the week. I believe with current world fundamentals (trade war etc.) gold has potential to create a new high in the upcoming weeks. However before looking for longs I would wait for a break and retest of the $1510 region. There is a chance of a pullback on gold before we see this move in which we could see...
My reasons for this trade are: on weekly we can see price is looking to close as an inverted hammer (still waiting on close). On daily we had a strong bearish close yesterday showing momentum to the downside, it also closed back into my daily channel. We have seen some exhaustion on 4H between the 20EMA and 50EMA. Price is looking to test the 4H 20EMA at my zone,...
After golds impulse move we have seen some consolidation, I noticed this triangle formation which has recently been broken and price is now coming for a retracement. I will be putting an order in near the 0.618 fib retracement @1500.50. TP @1520 where the 1.618 fib extension is and SL just below the 0.786 fib.
I have updated my previous post which was a quick idea. After price broke through my daily zone above 0.9800 it formed this corrective structure which now has been broken. I am not waiting for price to retrace to my blue zone which has shown to be a strong resistance level also lining up with 61.8% Fib retracement and also the 1H 50EMA. SL being above the 78.6%...
After a break of the daily zone and a corrective structure I have gone short on this pair
EURAUD is approaching a weekly trendline where it will either bounce or break through. Personally, looking at price action, I believe price will break through and fall to around 1.5800 before retracing back up to retest the trendline as resistance at around 1.6000. However if price bounces we could see it coming back up to the liquidation zone at around...
I have been waiting for this move on CADJPY for weeks and I hope we are finally about to see it happen. Daily price action is telling us momentum is still with the bulls. Now on 4H we have seen price break out of our resistance zone completing an untidy inverted head and shoulders pattern. EMAs looking good on all significant timeframes. I have entered a long...
A follow on post from my EURUSD break or bounce scenario. After price showed signs of a reversal I have entered a long trade and here is why: After a few daily wick rejections to our zone at around 1.1100 and our broken descending wedge formation I started looking for opportunities to go long. On the lower timeframe price began to reject a smaller descending...
After catching 100+ pips n this pair last week it looks like to has completed a retracement to our wick zone and has potential for another impulsive wave, and is hopefully able to break through 1.2575 and head towards 1.2750. This trade looks like a great set up to me HOWEVER the new prime minister of the UK will be announced this Tuesday so I am expecting some...
EURUSD has broken out of its weekly/daily descending wedge and it is currently retesting the patter aswell as testing 1.1100 resistance for the 4th time this year. Price is showing plenty bearish momentum on monthly and weekly however some exhaustion can be seen on daily but no sign of a reversal yet. Will price break through and head towards 1.0800 or will be see...
After a quick re-analyse of CADJPY I believe we are currently in a corrective wave which I will be looking to jump on the next impulse wave. After reviewing the recent daily and weekly closes it is clear that momentum is with the bulls, further confluence being with the daily ema crossover. My original analysis was intact correct I think my entry was too early, so...
I have been watching this pair over the last few weeks and am still expecting price to break back into the channel and create a new higher high at around 1.4500. Past 2 weeks have printed as tweezer bottoms as price struggles to break through 1.2000 however price is also struggling to break through the weekly 20ema to the upside. Daily charts is showing us wick...
I will be waiting for a break and retest of my boxed zone and a 4H confirmation candle before entering short to around 1.5800. II must wait for a break and retest as price is currently at 1.27 fib extension so price could still reverse from here. However confluence for EURAUD start with a strong bearish close on weekly showing momentum for the bears swell as price...
After a strong bearish engulfing on DXYs last monthly close I believe we should see further weakness in the DXY over the next couple of weeks. The past two weeks we have printed bearish inverted hammers, on daily we have broken out the ascending wedge with a bearish engulfing then retested with the wick of an inverted hammer. If we do continue to see weakness in...