Something a little different we are looking to go long on the UKOIL commodity. Our level of interest on this pair is at the $41.40 a barrel price range, rejection off this level will indicate potential for continued bullish pressure. If we manage to get our long positions in we will look to liquidate full position at $44.02 which would net us 6.33%.
We are going long on AUDJPY if we retest level 72.826, if we have a clear rejection off the level and it fails to break below on the 4 hour chart our entry becomes valid. Once we've entered we will set our first and only take profit target to 74.544 which would net us 149 pips.
We have a potential long position coming up on CHFJPY, we believe this setup will be ready in the next few hours. Our point of entry will be off clear rejection from our 61.8% retracement (112.472) and we will look to lock in 100% profits at 61.8% extension (113.779).
We are going short EURAUD off our 61.8% combined with a 50% extension level the pair continues to trend down from early 2020 and we believe there is strong indications this will continue. The exit point we have set is a 61.8% extension level (1.61912) from entry which would net us 219 pips in profit.
We are looking to go long on AUDUSD, this position will most likely stay on our radar and start up during the next trading week as we are a few hours away from market close. HL - SM = CONFIRMED HL - PV = AWAITING CONFIRMATION Trade will start off from rejection off our 61.8% extension level which is priced in at 0.66843, and we will look to make our exit at our...
We have a short position being added to our basket of trades once we see price retrace to our entry point of 0.96904. If we see the retracement followed by clear rejection of being able to break above our 50% fib level we will make our solid entry. As for our exit we will liquidate full position at 0.95028 an extension point of entry.
We are going long on AUDNZD if we retest level 1.06831, if we have a clear rejection off the level and it fails to break below on the 4 hour chart our entry becomes valid. Once we've entered we will set our first and only take profit target to 1.08313 which would net us 149 pips.
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%)