takukau282

takukau282

I had an unpublished trade I took this past week where I went long on the confluence of a bounce off the upward trendline in blue and the breakout of the bullish reversal wedge shown in purple (about 100 pips secured). The market closed sitting above a key support area around 1.18600. My current idea relies on the price respecting this level but breaking out of...

takukau282 Updated 

The price has been in a downtrend since late last year and now sits just above the 1.20000 weekly support (marked in green) forming a descending wedge. This may imply a price reversal targeting the downward trendline shown on my chart and maybe even greater heights around 1.30000. My idea is valid only if the price breaks out upward from inside the wedge. Feel...

takukau282 Updated 

The price has been respecting the boundaries of the upward channel and is currently consolidating in a range shown in purple. My trade relies on the confluence of the breakout of the range and the channel and so my sell order will only be placed when these 2 conditions are met and thereafter I'll expect bears to take the price down to the 131.000 level. However,...

takukau282 Updated 

As illustrated by my chart, the price has bounced off the upward trendline twice. I expect it to do so a third time because of the decrease in bearish momentum and bullish reversal candles printed near the trendline. This should result in a nice long trade with 1:5 risk as to reward. The target price is 1.84226. Feel free to share your opinions and leave a like...