8ema-rejection
** GBPUSD ** Short Order Pending Short Order pending at 1.28520
T1: 40 pips
T2: 80 pips
Stop loss is 40 pips
** AUDCAD ** Short Order Pending **Trend Continuation Trade
Order pending at 0.94164
T1: 36 pips
T2 72 Pips
Short AUD/CHFPushing downward, price has retraced suitably into a location of resistance on the chart, a static level of ~0.7080 and the 8 ema closing as a high test bar/bearish pin bar. Price has rejected both the 38.2% and 50% Fibonacci retracement levels.
entry - below low of high test bar
stop loss - above high of high test bar
target - previous support level near 127.2% Fibonacci extension
Long EUR/AUDIn a recent and new upward trend a shallow retracement into a support area consisting of a horizontal price zone and the 8 ema. This area falls around the 38.2% Fibonacci retracement region which price has rejected giving a low test bar/bullish pin bar suggesting a long position.
entry - above high of low test bar
stop loss - below low of low test bar
target - at the next resistance level/127.2% Fibonacci extension
Short aggressive momentum trade on EUR/USDClose of price as a high test bar below a tested level (at ~1.1050) in conjunction with the 8 ema resistance and an apparent "kiss of the trend line" after a break below close below prompts an aggressive set up to the short side with at least a 1:1 reward-risk profile.
entry - below low of high test bar
stop loss - above high of high test bar
target - at the next key support level around 1.0800
An aggressive short on AUD/NZD- aggressive down trend (price trending below 8 ema)
- close as a high test bar after:
- retest of level after break (1.0800)
- retest of 8 ema
- 0.382 Fibonacci level rejection and close below
entry - below low of high test bar
stop loss - above high of high test bar
target - next support area/1.272 Fibonacci extension at ~1.0530
Long USD/CADAlthough the retracement/pullback on this pair is quite shallow my reasons for taking a long position are:
- Bullish/reversal bar following 2 seller bars
- Support at 1.3100 with close above
- 8 ema rejection/support and close above
- 0.382 Fibonacci level rejection and close above
- Stochastic and RSI convergence
entry - above high of low test bar
stop loss - below low of low test bar
target - above previous high for at least a 1:1 Reward:Risk trade
