An update on previous idea where I suggested a sell at 1.1716 to 1.1660.
Price reached 1.1664 and I moved my SL to 1.1670 and got out of the trade. Sweet 46 pips bagged. If anybody is still in the trade then you can move you TP to 1.1630 or around it.
Better trail your stop loss as its last day of the week so no point aiming high on this pair today.
Have a...
A likelihood of an upward movement may happen in the following week, however a small 30 pips in downward direction would be a good sell opportunity. A worthy supply zone for a small short or a swing trade incase if momentum shifts downward.
Trade 3 from previous idea caught the price beautifully by its horns and hit our TP. Now for the other two to do its work. At this stage, I would delete the other two trades but it may be a good idea to keep them in your demo account and see if it pans out successfully as it was initially predicted.
Regardless of all that, 27 pips caught nicely and beautifully....
Here is an idea on EURCAD where I used different strategies to place 3 different trades with 3 different SLs and TPs. Here are the details:
Trade 1: Looking at engulfing candle on H4 timeframe suggests the coming of the bears. So fib that single engulfing candle and wait at the 50% to let the price come and pick you up. SL goes to the highest point i.e. 65 pips....
An update on previous idea published. (Please check the original idea published). Did the price pick you up and take you for a ride or not? Absolutely it did.
If this trade was placed as twin trade risking an overall 20% of $1000 dollars for example then you would have risked a total of 20 dollars for a potential gain of 25 dollars (50 pips in total if caught)....
EURUSD just sees an abrubt move up and tagged 50% as of now. Can it tag 618 as well? If it does then a short order for 10 pip gain and 20 pips SL would be a good treat with a risk to reward as 2:1.
In this scenario, best suggestion would be twin trading risking a very small percentage of your account size, and your second tp after it hits 10 pips.
Will it...
EURAUD pair has reached a daily zone that is a strong zone for sellers. In H4 time frame, there are zones in the same area where the price has broken through in the past. You may also notice your RSI indicator (if you do use it) also showing divergence in smaller time frames i.e. 15 min.
Good signs for a short position with a tight stop loss may give you 50 pips...
Looking at weekly timeframe, we can see that price has broken two zones and retested both of them. It has entered and broken third zone and went up to pickup some more sellers. In daily timeframe we can see a teacup right in front of our eyes too. Price has been hanging about that area for quite some time today so perhaps 100 odd pips in the taking if you short...
An update on the previous idea on USDJPY. Price move up to 20 pips from the zone drawn and described as the support zone. Whether it will move up more not; the good news is that atleast 20 pips were bagged if trader was trailing their stoploss.
A resistance zone created by bearish engulfing candle, which then got broken by bullish engulfing candle can be a worthy support zone as we can see from previous wick entries into the zone. Can it be a trade setup for a buy? Only time can tell but worth risking a small percent into the trade.
On the contrary, the zone is being visited for the fourth time so...
Sell was taken by me on that retest candle pointed by the arrow on top. With trailing stop loss, 20 pips bagged. Now next move is a buy limit at the zone at the bottom. Lets see if price respects that zone as it has previously proven to be a strong support
In H1 timeframe we can see 2 engulfing candles that have broken zones and the price has currently come back to revisit them. Could this be a pullback indicating price reaching the take profit to where the arrow is shown?
Seems highly probable....Perhaps a nice buy calling us?
We have a bearish engulfing candle on H4 timeframe that may be confirmed in 36 minutes at 10am UK time.
Bearish shows a downward momentum however we in the zones of importance in daily timeframe. So perhaps a limit order at 50% of the bearish engulfing for a few pips alongwith a trailing stoploss to reach 100% of the engulfing???
Higher time frames have the price prepping for further down move. H1 time frame the price already broke the low and hit 38% and heading further down. The question is if it comes up then 50-61.8 can be our sweet entry points to ride the move with least pips to risk
GBPJPY been having lower lows and lower highs on H1 time frame. Zones drawn from H4 and Daily time frame.
How far up will the price retest before continuing down? Perhaps some use of your favourite indicators may come in play here.
USDJPY as shown in Daily timeframe showing a head and shoulders pattern. Various entry points are marked up but the best zone to enter would be closest to the indicated H4 swing high and that point rests at 0.618% of the H4 swing high; 30 pips risk for a potential higher gain if entered at good time.
Recommended practice would be to set up call level alert at...
Red lines shows the support and resistance drawn on daily frame and blue lines shows support and resistance on H4 frame. A head and shoulder pattern could see the price going down further however, how much money can you afford to loose depends on when you take the entry.
USDJPY has shot up a good amount of pips; breaking the zone that was previously a support and recently a resistance zone. It has gone past the quarter line to the next one above and looks like it still has room to go up, but will it come back down to respect the zone it left? What if we have a buy limit waiting for it to take us back up to the top of that...
