LONDON: GBPUSD BREAK & RETEST - MOMENTUMAfter Asia teasers, price may finally be ready for a correction higher, and we can take advantage using our B&R setup with momentum entry. Lets see if London treats us better
Breakandretest
ASIA: USDCHF 618/B&R - DEPLETIONUSDCHF has met all requirements for both, the '618' and 'B&R' playbook setup using price action depletion to set our buy stop for our entry criteria. Lets see how it goes
NY: XAUUSD B&R - IB MOMENTUMGold has broken a couple downtrend lines, and now seems to be supported by resistance turned support based on inside bar break up. Lets see how NY behaves
LONDON: EURCHF BREAK & RETEST - REJECTIONLondons first given setup out of the playbook seems to be an EURCHF simple B&R using the pin rejection as our entry criteria going for at least 1:2 RR
ASIA: GBPUSD BREAK & RETEST - DEPLETIONWe can see sellers have been depleted over the past hour and price has qualified for playbook setup B&R using our depletion entry. Good probability of reaching 1:2 RR. Lets see what happens over the rest of ASIA and check back in during London. Safe trading everyone, see y'all soon!
LONDON: NZDUSD B&R - DEPLETIONPrice has met all requirements of our Break and Retest setup using depletion entry, should have enough gas for at least 2R. Lets see if the probabilities play out
LONDON: USDCHF B&R - DEPLETIONWe have identified one of our playbook setups on USDCHF in a classic break and retest. Price in overall uptrend after breaking multiple downtrend lines
ASIA GU B&R ON DEPLETIONPlaybook setup formed and trade executed. Simple break and retest after depletion of buyers. Aiming for at least 1:2 RR
ASIA EJ B&R ON MOMENTUMEJ is in a consolidation phase so we must watch our step, but thats usually when algorithmic patterns come out to play, so lets see if they will follow thru on this harmonic reaction, price also formed one of our reversal setups, followed by what could be a continuation with this break and retest
NY EJ B&R DT ON MOMENTUMLets see if this structure break and retest plays out according to the potential ABCD/fib extension
ASIA: EU B&R ON REJECTIONPlaybook setup: Break and Retest using aggressive Sell Stop entry after price seems to have confirmed a potential reversal in our trading timeframe
ASIA: NJ B&R - MOMENTUMWith AUDJPY breaking out of range and finally showing the bullish accumulation we expected on Friday, the move could be in the works for tonights session. Price action has qualified for one of our plays so lets find out
GBPUSD - ShortGU is following the flow, being a bit more resilient thant euro, but still, it's beeing hit pretty hard by dollar strenght.
But, this trade could be taken just looking at TA, I entered it last thursday night after the wick that came to retest the 50% Fib level and the trendline, but, I still believe an entry could be made on the last daily candle. For those working on smaller TF, just look for retracement, break and retest, make sure you gat a 2:1 RR at least and go!
Like every trade, it might not make it but hey, if you're being consistent on your entries rules then, probabilities will fall in your favor with time. I think this trade is falling into my requirements.
Why am I shorting GU :
1) Strong selling pressure on GBP/strong buying pressure on USD
2) GBP made a strong downward movement,
3) it retraced to 50% FIB
4) it broke and retested the trendline it was in since last october.
5) my TP is above next support @ 1800ish + level
Let's keep on riding this one!
Cheers and safe trading!
Leave your comments!
EURUSD - ShortLike I've mentionned in the DXY weekly analysis earlier, I'm gonna to be looking for short on XXXUSD this week, and, what about this nice little daily candle?!
EU has been ranging last week, debating on if yes or no it should keep on going south. Looking at the chart it seems like it has made its decision as it rejected the 1.750 - 1.800 level last tuesday, wednesday and thursday, to push further down on friday.
Why am I shorting EURUSD :
1) DXY is on the way up
2) Fundamentals are in favor of a strong dollar
3) Euro has been hit by a strong selling pressure in the last two weeks, and broke the recent 1.80 level
4) It retested the 1.80 level
5) The last daily candle shows more selling pressure
So as usual, I'm entering this trade at market open, with SL above previous candle, TP = 2SL, right above the 1.05 level
We'll see how this goes, same setups can be found on GBPUSD, AUDUSD, or reversed with USDJPY, I'm already in GU and AU, gonna had EU with a half position size
Cheers everyone and safe trading!!!
Don' hesitate to leave your comments!
EURAUD Short Opportunity - FEBRUARY RECAPWas late on this setup and entry was off by 10 pips. Nevertheless great setup - a lot of downward momentum !
Price broke support, RT and found exhaustion - bearish momentum engulfing candle showing sellers strengths.
Had to adjust my TP zone but will monitor P.A - already BE on trade.
AUDUSD possible long moveAN offers a really good long setup. The confluences are:
1.ascending channel
2.break and retest of S/R zone
3.daily AND weekly 50EMA laying on this level
4.61.8% fibs
So we just need to see rejection candles at POI for entries.
The only thing I don't like is the bearish momentum. The last daily candle is Marubozu candle, a very dominant candle sooo I'll be looking for STRONG 4H rejection candles or daily candle before jumping in longs!
It could easily penetrate the zone, so be careful with entries.
EURUSD Short Opportunity - FEBRUARYY RECAPLooking at MS & PA - price RT broken support zone - created a bearish pinbar & had ema as added dynamic R. Going for +3RR
EURNZD 4h, B&R LongEURNZD 4h has the best B&R structure of all NZD pair on the daily it has close above the resistance level same is happening on the weekly which everything is in sync together. I will probably take this trade if it's showing me a great entry level and a great place to set my stop at.
NZDUSD 4h Short , B&RNZDUSD is now looking for sell because it couldn't break above the higher high and broken the uptrend structure waiting for a B&R and sell it
AUDUSD LONGFX:AUDUSD
Bullish movement on AUDUSD. Price broke above the Daily resistance and made a pullback to retest at the previous resistance now turned into support. Price even retraced to the 38.2% Fibonacci retracement. An engulfing candle on the lower timeframes (30min,15min) is confirmation to go long on AUDUSD
GBP/JPY Long Opportunity- FEBRUARY RECAPExplanation with the chart - looking at market structure (HHs and HLs) with clean price action - anticipating bullish momentum for pre-London session. Risking 1.5%.
NZDCHF 4h, Looking For Sell, B&RNZDCHF before that is looking for buy but it's not showing bullish signal now waiting for a B&R on the bearish side to sell
