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Joe Gun2Head Trade - Reserve Bank of Australia surprise!Trade Idea: Selling AUDCHF Reasoning: Reserve Bank of Australia surprises with a larger than expected rate hike Entry Level: 0.6943 Take Profit Level: 0.6823 Stop Loss: 0.6986 Risk/Reward: 2.81:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
A Detailed Road Map for Buy and Sell Entries in Current ChannelAUDUSD has been moving in a wide horizontal range since 2021 autumn. The price has recently dropped from the resistance level of 0.7600 and is approaching to a support area of 0.7000. From 0.7000 level, we can observe that prices have many times bounced up by forming three strong daily bullish candles, immediately breaking and retesting the next resistance level of 0.7100 before moving up to 0.7260 area. Therefore, once the price has reached 0.7000 area, we will carefully observe for strong daily bullish candles and then a break of 0.7100 level. After 0.7100 level is clearly broken, we will prepare our buy entries to capture the retest of 0.7100 level and set our buy target at next resistance area of 0.7260. However, a clear break of 0.7000 support level will invalidate this buy setup. Therefore, it is important to wait for a strong bullish momentum first instead of trying to catch the bottom. From 0.7260 area, we will switch to look for sell entries because we expect another retest of 0.7000 support level before price can reverse back to a bullish trend, given that this horizontal channel still holds.
by NicoBeau_Capital
AUDCHF: A Month Long Horizontal Channel is BrokenAUDCHF has been ranging in a horizontal channel (0.6900 ~ 0.7080) since last month. This week, the price has broken the range to the downside, accomodated by a strong bearish impulse. Now the price is forming a bearish flag, which gives us a great opportunity to short the bearish continuation. Entry Criteria: First, we will wait for a breakout to the downside from the bearish flag. We will then enter sell positions on retest of the lower flag trend line . Very simple and straightforward sell setups
Short
by NicoBeau_Capital
AUDNZD: A Sharp Price Rejection from the Key Resistance LevelAUDNZD has reached a key resistance level of 1.1000, followed by an immediate sharp price rejection (a doji star plus a large bearish engulfing candle). Since 2020, all two long-term bearish reversals have occurred from this level. However, we know that the trend of AUDNZD is persistent. Therefore, we want to make sure that a reversal has actually occured before throwing in sell positions. It is good to enter the market late but right rather than early but wrong. Entry Criteria: After a rejection from the 1.1000 level, the price has reached a support level of 1.8000-1.8200. From here, we expect the price to bounce up again to retest the high, or if not, the 1.0900 level. If a reversal has really taken a place, then the price should break the support area of 1.0800, plus a daily candle closing below that support level. Only then, we can prepare our sell entries at the neckline area to capture the retest and ride the wave down to the first target of 1.0600 level.
Short
by NicoBeau_Capital