Potential short setup on USDCAD, expecting this to come into play quite soon if it does. Break of H1 H&S neckline.
Of course you'll need your own entry criteria to be met but there's a good RR ratio available here!
These are the key levels i'll be watching on this pair to take short positions from.
There's a lot of room for us to continue to the downside on this one and the higher timeframes have been trending bearish for quite some time. The daily shows this clearly.
The level we are at just now is a key area as this would make the daily put in a clear 'Lower High' in the...
Potential long position from this level for next week. We've come down quite strongly on this pair and landed on this key support level, seeing quite a big bounce during this week.
I think there's a big move to come on this pair, as will many, which is why patience will be key. I don't believe this is the only tap we are going to get at this level as when long...
Analysis as indicated. Looking for a retest of the broken resistance to take longs up to the next H4 resistance to the upside.
A good 90+ pips here if you get a good entry with a bit of patience. I will be looking at entries in the green box indicated as this is the last H1 resistance area, giving us a more favourable risk:reward ratio.
Long term downtrend on...
Potential scenario for shorts on Gold.
You can see the larger descending channel i've marked up which could be tapped and give us a reaction, with the chance to catch a large move to the downside.
Alternatively i've added that smaller bullish channel you can see, it may not quite retest the overall trendline and may instead just break this counter channels...
Come down strongly to that previous area of resistance marked out. Would wait for a re-test before entering.
Stop set using the ATR and the length of the potential signal candle. Profit target based on previous resistance levels and a 2:1 risk reward.
In a downtrend and now trading underneath the moving average. I can see EURUSD falling down to the next zone i've marked with the black lines.
This is a zone that has been respected in the past on the daily time frame.
I am very new to forex and have been following signals and trying to learn for a while. This is a position I am merely considering so any constructive feedback is welcome!
Basically I am using a round numbers based strategy and seeing that EURUSD has been hovering in the 1.1300 to 1.1400 channel for a while, it now appears to be breaking out of that channel and...