We are short Gold from 1712.485 and currently targeting previous low of 1670.976. Trade confirmation was a bounce off our 61.8 retracement followed by bearish candle closes on hourly which settled below confirmation zone. The exit will take place at a 50 extension zone.
We will look to make a short entry on EURUSD from 1.08956, a bounce off the April consolidation level will indicate a high probability winning trade. We have placed our take profit level at 1.07205 which aligns with our .50% retracement zone, on exit trade will net us 176 pips.
If we have a retest at 0.97094 on USDCHF we will look to make an entry off our extension zone. Bullish candle consolidation on an hourly after retest would be a good confirmation to enter the long trade. The exit level is set at 0.98027 which would yield 96 pips for full trade.
If EURJPY move up to our consolidation of 116.702 we will look to start making a short entry on the pair, this is a high probability setup if we have bearish confirmation bars off the level (hourly).
If we do manage to make entry on the trade we will look to make our exit at 115.549 and this full trade exit will net us 115 pips.
Price is heading towards the bottom of a 1 hour structure and it has the potential to move higher.
Price has the potential to move towards the 50% fib resistance zone and even higher if it manages to break it.
We will be waiting for a buy setup on a lower time frame to confirm the upside move
Entry level at 1.74748 with exit at 1.76985 (218 pip).
Potential long position on CADJPY, we have had confirmation of a bounce from our structural support level at 77.092.
We have a 2 take profit setup on this trade the first will be at 78.177 (0.59%) once hit adjust SL to break even, the second will be at 78.177 (1.29%)
Awaiting entry on our new setup on EURCHF. The trade layout is as followed;
Entry level has been positioned at 1.05853 a significant resistance zone close knitted with our 61.8% extension level, both zones combined give us a solid entry point for EURCHF to continue it's trend down to our trend based fib level of 0.5% alongside our retracement range of 0.61%,...
We have a potential long position setup on USDCHF, if we start seeing bullish candles forming and closing on the hourly after retesting our 0.96677 level we will go long off the 61.*% daily fib zone. We will look to liquidate our position in full at 0.97972 which will take us up 129 pip (1.34%).
We expect EURGBP to bounce lower on rejection of 0.88654 region on the hourly time framed chart. We've created a strong declining trend starting from early February, trend technical's have matched with our extended yearly fib levels. If we manage to make a short entry on EURGBP we are looking to take out full position by level 0.87445 which would take us...
Our latest chart for the free channel, this is a potential long position on AUDNZD, but before we make any entries wait for price to fall back down to 1.02111, if we do see price meet our consolidation level for the week and fail to break below we will take positions long. The exit will take place at 1.03003 +71 pips.
We expect USDCAD to bounce lower on rejection of 1.42278 region on market open. Technical trends have matched with our extended yearly fib levels. If we manage to make a short entry on USDCAD we are looking to take out full position by level 1.40867 which would take us +139 pips for the trade.
The chart below is showing that the gold price will attempt to make a bounce off our entry level of 1608.523 on the chart. This level is then backed by a further confirmation for continuation upwards as we found a 50% retracement zone 5 pips below. A confirmation bounce off of these two levels will tell us lots about the macro environment and how badly investors...
We have a short position awaiting entry at level 1.80800, this will only trigger if we meet the following condition;
We have price reach 1.80800 before Friday close and begin pushing back down, if price does not meet entry level by Friday setup will be cancelled as we expect a lot of volatile market data released next week.
Our exit level will be based...
We are awaiting confirmation to enter AUDCAD once we have a retracement back down to 0.85376 a previous strong holding resistance zone in March. The second confirmation would be a bullidj push back up from the entry level confirming clear rejection. Once we've entered we will try to fill our exit at 0.88088 (3.18%).
We have a potential long position ready for entry if we meet the following conditions;
1. Price retraces back down to 112.411 and rejects back off the level without breaking any lower than 112.057.
2. We see bullish candles closing after rejection from 112.411 on the hourly chart
If we manage to meet all conditions and have successfully made entry we will look...
Spreads may be higher on this minor pair, we are currently waiting for AUDNZD to meet our entry point of 1.01400, if condition is met and we have a bullish formation right after retest we will make our confirmed entry, we will not make any sort of entry until all confirmation are met not just a retest. We will look to make our exit at 1.03026 which would net us 165 pip.