Hey guys, long time no see.
Here is a weekly trading strategy on GBPUSD H4.
I believe it is high probably that the scenario blue will be occur in next week. It is a good chance to open short position
if the price touches the decline line (red).
If the previous high broken, then should forgo this view and stop loss. The scenario black may occur in this...
GBPNZD is possible being in a correction wave in H4 chart, it likely will be ended at around 1.99. Short position can wait if the short term rebound occur, the optimized level of opening short position is around 2.038-2.045. Stop loss level for short position is around 2.05-2.06. Market buy for the short term rebound can be consider if trader is aggressive...
GBPUSD has high possibility to drop down to 1.23 and test the mid term support. The stop loss of the short position will be around 1.25. Risk taker can aim for a higher return to 1.2 level if the mid term support broken though.
AUDUSD in H1 chart has potential to form a triangle flag, if the price in futures hours find support on the green line, and fail to breakthrough the previous high, the the price has high possibility to breakdown 0.59 again.
For the trading strategy, a market sell can be ordered with a stop loss above 0.623, or sell limit order on 0.619-0.62 with 50 pips of stop...
In the previous trade day, GBPUSD in M15 chart broke down the neckline and test the 23.6% of Fib retracement. It seems a short term rebound will occur and challenge the neckline level. If fail, the GBPUSD will continue the descending trend and finally test 1.21 level.
For the trading strategy, a sell limit can be placeed around 1.23-1.232 with stop loss...
USDCAD is probably in a descending tunnel in M15 chart, if 1.434 in short term is confirmed as the wave top, the USDCAD will have chance to drop to 1.37 level
For the trading strategy, a sell limit order can place at 1.426-1.428 with stop loss at 1.432 and take profit target in day is at 1.40 or 1.37 for a longer period, Market sell is risky, as a higher stop...
GBPUSD is probably entering a correction downtrend, the first target will be 23.8% Fib retracement of recently uptrend, which is around 1.23.
For the trading strategy, a market sell with stop loss at 1.245 and take profit target at 1.23-1.231.
EURUSD seems climbing to 1.10 on a rapid ascending trend in M15 chart. The correction will begin when the price breakdown the ascending trend. And it probably will end on a flatter ascending trend.
For the trading strategy, a sell limit order can be considered to place around 1.096-1.0980 with stop loss at 1.102 and take profit target at 1.088
USDCAD build a mountain shape and broke down the neck line in M15 chart.
The forecast in future hours the price will have a correction go back to the neck line, and then turn down again.
For the trading strategy, a sell limit order can be considered to place around 1.442-1.443 with stop loss at 1.449-1.451 and take profit target at 1.423.
USDCAD is laid on a short-term support trend in M15 chart.
The forecast in future hours the price will test the support trend, if the price breakdown the uptrend the next support level will be around 1.431, if that level fail, the price will probably go to the bottom of the descending channel.
For the trading strategy, a sell order with stop loss at 1.445 and...
EURUSD may continue the descending wave in next few hours, probably after touching the 1.106 resistance .
The target will be around 1.078, the lowest price happen on 20 Feb 2020. A more powerful rebound is expected to happen at that level.
There is a trading strategy for short position, sell limit place around 1.105- 1.106,or market sells , stop loss at...
GBPNZD becomes fluctuate in previous 1-2 trading days. It is expected the price will go belong the descending tunnel in M15 chart. Therefore, it is expected that in day price range will be 2.014-2.058.
For a longer forecast, it seems the uptrend from 2020 Jan of GBPNZD has been broken, a correction will likely happen in future months, The first target of...
XAUUSD broke the important support level at 1650. It is expected the price will keep go down with the down trend tunnel (Red).
Now the price is doing a correction since touched the 50% Fib retracement level, and the correction is possible completed around 1650, and go down again.
The trading strategy on M15 chart is suggested to place sell limit order around...
The USDJPY seems on a correction trend in 15 mins chart.
There are 2 possible trends in forecast within day.
One is continuing the uptrend correction, and challenges the 38.2% and 50% Fib retracement, which are around 105.9 & 107 level. However, it is proved that the 38.2% retracement level is an effective resistance in 15 mins chart.
Therefore, it is higher...
There are two possible trends in EURGBP in few hours later.
First one is the uptrend correction will finish on the 0.857 which is the 38.2% of Fib Retracement.
The alternative is the uptrend correction will finish on a uptrend support which is around 0.8635, if then the price breakthrough the resistance at 0.868, the EURGBP has high possibility to break day...
The XAUUSD is expected to finish the round top shape in 15 mins chart.
In the recent candles, it seems the support on the price at 1650 is effective.
In days, it is expected that the price will go t challenge 1680 again, if fail, it is possible go down the range between 1610-1620.
Looking forward if there is enough support on uptrend (the green one ).
For...
Daily trading strategy
The USDCAD is expected to form a large triangle shape in next few trading days.
If the resistance line (blue) is effective, it is expected that the price will go down to test the support uptrend (green) and has a correction after it.
It the price go down and there is strong support on the 1.34, it is expected that the price will keep go...
According to the theory of Fib Retracement ,
Wave 1's retracement is around 38.2%(from Aug 2018 to May 2019)
Wave 2's retracement is around 38.2%(from May 2019 to Nov 2019)
Therefore, Wave 3's retracement should be also finished on 38.2%, it is around 1598-1602
It also lays on two uptrend support predictions.
However, if the price go down and break 1600...
