1000 pips potential trade on GBP/AUDGBP/AUD are bouncing strongly of the weekly trend line. The price itself is trending a little bit higher on a weekly basis. This is a trade with pure price action and simple trend line, no other indicator is used in this analysis. This is an aggressive trade if you wanted to follow. Entry price varies from your trading timeframe. But I'll suggest the SL should be below the trend line around 1.6130-1.6170 and potential profit target at 1.7600 at the last weekly swig high.
Please do not trade a big lot size because you see a potential 1000 pips and don't risk too much of your capital on this trade. If this trade didn't come out as we expect, your downside would be 300-400 pips loss which can be unbearable for some trader with an oversize position.
1000pips
AUDUSD ShortAUDUSD broke descending triangle on daily time frame, in H1 it is forming a wedge break below will confirm the leg down towards .73000 area which in confluence with 78% fib and daily triangle's target. It may retest the H1 wedge's resistance before moving lower or break it and fall. Non pay farm payroll ahead......HEDGE YOUR RISK PROPERLY..
A potential 1000 pips oppourtunity #Mi1lion #InnovationsA potential 1000 pips opportunity if the market exceeds the current resistance of 0.77017 and then retest the area as a support. This area of support and resistance has being active since the crash of 2008. Check how the market reacted to the zone during the crash.
EURAUD 240min - WAITING FOR DIRECTIONEURAUD currently @1.4417 - not doing much yet. Currently inside a big wedge in the 240 min chart and waiting for direction out of it.
But if you look at the EURAUD 60-min chart, we are inside an ascending wedge with a potential 30-35 pips once we break out of it and continuation to the top 1.4460-80 levels.
Both potential trades would be as follow:
LONG ENTRY @1.4430 STOP 1.4390 TARGET 1.4468-80
SHORT ENTRY @1.4380 STOP 1.4410 TARGET 1.4330-26
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IMPORTANT DISCLAIMER:
These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.
DO NOT TRADE WITHOUT STOPS
AUDNZD Head & Shoulder 240-min - SHORT SETUPAUDNZD currently @1.0789 giving us a head & shoulder pattern right at the top of our Channel for a potential square up of the move from last week.
Let's wait to see if they will violate the H&S by going higher, If not take the short below the neckline @1.0770 - or even before the break at the current level of 1.0790
ENTRY: SHORT @1.0770 STOP 1.0800 TARGET 1.0730-20
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IMPORTANT DISCLAIMER:
These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.
DO NOT TRADE WITHOUT STOPS