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4hr

AUDCAD back to structure: short time!Hey guys, this analysis may come too late, for this setup met my rules for entry at the previous close, but i want to share it anyway because maybe the price will come back to retest the entry zone. And there i will be waiting for my orders to be filled. Price is testing a daily resistance zone (blue box) and it's already OVERBOUGHT, that's when i start to look for trading opportunities down on 4hr and 1hr charts. This time we put an engulfing kicker on the 4hr chart. If you follow me you would remember one or two shorts on this pair last week, i got stopped out both times. But keep in mind, the last trade doesn't change your overall edge on the market. Don't be affected by the last trades' results. My order will be placed at 1,0061s Stops and targets as in the chart above. If you have any question or remark feel free to write it below. Otherwise, see you in the next chart.
Short
by Roker1
GBP/USD Triple Bottom + 61.8% Fib ConfluenceHi Traders, This trade set up is for GBP/USD based off of the 4H chart. Now we can see price action failed at the 61.8% Fib level on 3 occasions over 2 days. This failure supports the theory that price action is simply taking a break from moving up after a long period of gains. The market appears to be rejecting any further decline past the 61.8% fib level which is significant given this is a key price reversal level. We have our trade set up with a risk to reward ratio of 3.53 making this an attractive trade to take. We will be entering at the market open in the UK 10pm and wish you luck if you decide to enter too.
Long
by EuroDollarExpert