There is a possible bearish cypher for EURGBP. D completion is at 0.87843 which is the 78.6 Fibonacci retracement of leg XC. Upon confirmation of a bearish bias, I will start selling at around that level. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg CD. The stop loss has the same number of pips as TP1 by default. Tentative...
GBPNZD has been on an uptrend since January 11. There is currently a descending triangle sitting on top of the support of an uptrending diagonal channel. The horizontal support is around 1.97230. I want to see a candle breaking and closing below that level before I go short. I will consider the break of the horizontal support of the triangle also as a break of the...
There is a possible bearish cypher for GBPAUD. I want to sell at 1.77625 but want to see confirmation first of the bearish bias at that level before entering the trade. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg CD while the stop loss will have the same number of pips as TP1 by default. If this trade setup remains valid,...
There is a bearish butterfly for AUDCAD. Upon confirmation of a bearish bias, I will enter short at 0.97588 or place a sell limit at that level. Stop loss is just above point D while take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD. I will manually cancel the pending order if setup becomes invalidated (new swing high) or if...
CADJPY has been on an uptrend since March 19. On the M30 timeframe, there is a break of the support of the uptrending diagonal channel, as well as the horizontal and psychological support at 85.001. Thus, I am placing a sell limit at this level with the expectation that this level will hold upon retest. Stop loss is based on ATR x 2 while TP1 has the same number...
There is a bearish cypher for GBPNZD. With confirmation, I plan to enter short at 1.93910. I am looking for a retest and rejection of this level as confirmation of the bearish bias. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg CD. The stop loss would have the same number of pips as TP1 by default. Tentative details are as...
There is a bullish Gartley for EURGBP. Price recently went as low as 0.87478 (85.2 Fibonacci retracement of leg XA) with the news release, Retail Sales m/m (GBP). As I expect price to go up, I am placing an aggressive buy limit at 0.87516 which is the 78.6 Fibonacci retracement of leg XA. However, it is ideal to wait for confirmation first. Take profit targets are...
CADCHF has been on an uptrend since March 5. The support of both the longer (steeper) and shorter (less steep) term diagonal uptrending channels have been broken with a red candle closing at 0.77605. As such, I am placing a sell limit order at that price. Stop loss is based on ATR x 2 while the take profit level has the same number of pips by default. I will...
There is a bearish bat for AUDCAD. Price entry at 0.96771 is based on a red candlestick closing lower than the body of the red pin bar before it. Thus, I am putting a sell limit at that price. Stop loss is placed just above point X while take profit levels are set at the 38.6 and 61.8 Fibonacci retracement of leg AD and point A. I plan to manually cancel this...
USDCHF is still on a uptrend and there is a bullish bat again. The bullish bias is confirmed by a red hammer, lack of a lower low, and a green candlestick closing at 0.95446 which also guided price entry. Stop loss is placed just below point X while take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Trade Setup:...
USDCHF is on an uptrend and there is a bullish bat. The bullish bias is confirmed by a double bottom with a red hammer (right bottom) closing at 0.94398 which also guided price entry. Stop loss is placed just below point X while the take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Trade Setup: Bullish Bat Price...
USDCHF is still on an uptrend. On April 3, there was a green candlestick which broke and convincingly closed above the previous resistance at around 0.95693. This level of resistance has been well respected in the past, March 20, 28, and 29. With idea of an old resistance becoming a new support and expecting a retest, I am placing an aggressive buy limit at that...
USDCHF is currently on an uptrend. Yesterday, there was a green candlestick which broke and convincingly closed above the previous resistance at around 0.94623. This level of resistance has been well respected in the past, February 8 and March 1. With idea of an old resistance becoming a new support and expecting a retest, I am placing an aggressive buy limit at...
There is a bearish bat for USDCAD. Bearish bias is confirmed by a green shooting star at the potential reversal zone and the lack of a candle close higher than the upper wick of the shooting star. Price entry at 1.28926 is guided by a red candlestick closing lower than the previous one. Stop loss is placed just above point X while the take profit targets are set...
There is a bearish bat for GBPCHF. Bearish bias is confirmed by a red shooting star occurring at a potential reversal zone. Price entry at 1.37770 is based on the close of that candlestick. Stop loss is just above point X while take profit targets are set at the 38.2 and 61.8 Fibonacci retracement of leg AD and point A. Trade Setup: Bearish Bat Price Entry...
There is a bearish butterfly for EURJPY. The bearish bias is due to a green shooting star at the potential reversal zone of a bearish butterfly (127.2 to 161.8 Fibonacci extension of leg AX). Price entry is guided by the close of a red candlestick engufing the body of the green candle before it. The stop loss is just above point D while take profit targets are set...
There is a bearish cypher for GBPJPY. Price was rejected at the 78.6 Fibonacci retracement of leg XC. Price entry is guided by a close of a red doji right after a big green candle. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement of leg CD. The stop loss has the same number of pips as TP1 by default. Trade Setup: Bearish Cypher Price Entry...
There is a possible bearish butterfly for AUDUSD. Price has gone up today and possible D point completion for a valid bearish butterfly would be at 0.75995 to 0.76409 which are the 127.2 to 161.8 Fibonacci extension of leg AX. I would like bearish reaction/price action/confirmation at that level and sell there. Take profit targets are set at the 38.2 and 61.8...