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4hours

GBPUSD Range Trade from 1.215 - 1.26GBPUSD ranging between well tested support and resistance levels at 1.215 and 1.26. Based on existing uncertainty surrounding Brexit, and fears of 'Trump Rally' reversal I hesitate to predict the trend going forward, but as 'Brexit' appears to be at least partially priced in, I'm more comfortable buying below support, with a tight SL, and TP at 1.26. This strategy is supported by the high volumes accompanying bull candles at the bottom of the range, suggesting high Sterling demand at these levels. This is all contingent on no major surprises in the economic releases for the next few weeks.
by Trade_Wind
USDJPY Long After BounceUSDJPY long bounce play coming up on the 4 hour chart. This setup will likely start off with London and carry through to the US session. I am expecting price to continue to drip down lower (price action is still 63 pips from the bottom of the channel) until we get a good solid bullish rejection just in time for the London session. Price has been trapped between the 112.103 - 110.098 for a week or so likely consolidation for the next big break out. Just the way I see things. Plan your trade and trade your plan.
Long
by dipdizzywizzle
3
NZD/HKD potential double bottom formation?There seems to be a possible double bottom formation occurring around the 5.35 area. The first V sectioned of the market shows a reversal upwards and the next V section shows even more upward momentum. I'm hopefully waiting for it to hit the 5.35 area so I can buy it and go long and I will take another trade straight after the first one takes profit cause of the strong upward trend. Stop loss is small yet effective and take profit levels are looking very realistic at the moment. But yeah thanks guys and I'll carry one with another one next time.
Long
by chiefcapitalfx
EURUSD - Incoming ShortSo..!! What is EURUSD doing on 4 hours chart..? After a drastic fall to the new lows of the year, the pair found a support on thin air and pulling back. Now this pull back is evidently weak and is heading towards a minor sell level. How to engage...? Selling the pair at around 1.05210 region gives a really awesome Risk to Reward. It's always better to wait for weakness or a break out failure of the resistance before selling. Or..!! I would just take an aggressive sell above the blue resistance and observe the Price Action closely to close out if there's any sign of strength. With the target being the low visible on the chart, the pair has a lot of downside potential to it. Trailing would be a great idea if there's a second position.
Short
by PavanKulkarni
EURUSD : Enter long, bullish dynamic in formationThe EURUSD pair was inside a downside trend (mid term, confirmed in daily charts). But on that general movement, we can notice on the 4h chart a bullish reversal construction taking place from the bounce at 1.08805 (Major support). The low and tops are getting higher, which is the basic definition of an upside trend. This change of dynamic in short term is confirmed by the EMA(50), which is also making a reversal. The last bounce at 1.09360 took place at the 50% retracement of the previous upper wave. That makes it a great support level for short term . Hence, we can expect the EURUSD to make another progression (3rd wave) toward the next resistance area at approximately 1.1050. On that situation, here is the strategy you can follow : - Open long at the current price (approx. 1.09620) - Stop @ 1.0925 (below the first support, to avoid usual market noise) - Target @ 1.1030 (below the resistance area to make sure you get executed when the scenario happens) Reward / Risk = 1.84 Feel free to leave your view about EURUSD in 4h.
Long
by AlexandreNygal