Breakandretest
GBPUSD Back testingBack testing GBPUSD. I started by identifying the trend then looking for a divergence, break and retest, or other patterns. In this example I identified what I believed to be a divergence signaling a sell and I also Identified a possible head and shoulders forming. In my excitement over seeing the head and shoulders I forgot to take into account the SL of the divergence when deciding on my entry and ultimately got stopped out.
CADJPY Buys CAD JPY coming to 88.509 resistance zone, waiting for a test of this zone then candle confirmation to show heavy bottom wicks, indicating a bearish transition. Supported by the continuous downtrend of the day and weekly charts. Additional confirmation of a fib level. TP at previous zone of 85.0221 SL at previous higher zone of 88.9541.
Putting it all together part 1(July 4-July9th) OK girl you like fibs… and that’s ok why?? Because you like to know where YOU are at in the market. We like Monday’s to add confluence! Noticed how the market came back inside Monday.. Retest monday.. Left monday.. And came back inside? That is great! Also noticed where the market came and collected smart money? Also, this time around we were looking for entries at the 50 or.618 retracement level.. If you did not enter on the 1hr you used the 15m. We combined smart money entry & rockzfx entry techniques along with the fib which really increased confluence and confidence! It also eliminated a lot of the noise. THANK YOU HOLY SPIRIT FOR TEACHING TEACHING TONIGHT!!
Time zone: Asian, 8am, and 11am. GREAT TIMES!
Key: we need to wait for retracement to happen! Let the market breathe! And always keep the Mondays relation key. DO NOT HESITATE! IF YOU GOT 2 TO 3 CONFLUENCES WE IN THERE LIKE SWIMWEAR! You see it mark it & keep note of it!
SL- 10 TO 15 PIPS // TAKE PROFIT- 50 PIPS
Sell Opportunity on GBPUSD
The market structure on GbpUsd seems to be shifting from a bullish to bearish sentiment on the daily timeframe. Ever since price has approached the Weekly Resistance Level, sellers have made themselves more apparent and clear downtrend structure has been established.
Scoping into the 4H charts, the most recent bearish candle has aggressively broke through the Daily Significant Level. This break in support could potentially indicate bearish strength, adding to the long-term bias as well. If we could retest this level as potential resistance and follow with strong bearish rejection, I'll be looking for sell opportunities.
Sell Opportunity on EURUSD
Looking at EurUsd, we could notice on the daily charts that ever since we've approached the Monthly Non-Horizontal Resistance Level, we've established bearish market structure. With this being said, it seems the sellers have predominately taken over.
Scoping into the 4H charts, price has just recently broken a significant level of interest and is currently retesting it as potential resistance. If we could identify some bearish sensitivity away from this level, I'll be looking for potential sell orders.
Potential Sell Setup on AUDUSDHappy market open everyone! Let's see if we could bounce back after a tough last week. Looking at AudUsd, price seems to be pulling back to a potential pivot point that includes a Non-Horizontal & Horizontal Significant Level. If price shows bearish sensitivity around this area, I'll look to take sells.
Friday Blitz Trade 9.24.21-Trading Rules
30 Take Profits
30 Pip SL
Move stop lose into profit after 8-10 pips in profit
-Twin Trading
2 trades in the same direction
1 trades has a SL and TP
1 trade has just a SL and you trail it
-Lots
example for .10
.05 and 0.05
Proper Risk
0.01 per $100
or
Follow YOUR trading plan
Potential Buy Setup on AUDJPY
Looking at AudJpy, the analysis has changed a little since the last post. Price had a bullish push above the Significant Daily Level and could be signaling some buyer strength in the future. I'll be waiting to see if price could pullback all the way to the level before creating more uptrend structure. If I notice bullish rejection bounce away from the level, I'll look for buy opportunites.
Sell Setup on CADJPY On CadJpy, we've had a strong bearish rejection away from the Non-Horizontal Resistance Level and broke some market structure.
Price has pulled back to the recent swing low and is beginning to follow with some bearish rejection. If we could get some stronger rejection, I'll look to dip in.
Buy Setup on CADCHF Looking at CadChf, price has dropped away from the Daily Horizontal Level and bounced at the significant horizontal level that it's been rejecting at for the past month.
Considering this level is very significant and includes a Non-Horizontal Support Level for confluence, I'll be waiting for price to provide a strong bullish candle closure off of the level before thinking of placing any buy orders.
Potential Sell Setup on AUDJPY We could be seeing a potential sell setup forming on AudJpy. On the daily charts, price has been in a bearish correction movement, which has caused the short-term to switch from bullish to bearish.
Now, we've just recently cracked a Significant Daily Level and come back to retest as resistance. For the time being, we are showing some bearish rejection away from the level but I'll want to look for some more selling pressure. If we could get a stronger, bearish candle closure to push away from this level, I'll be looking to place sells.
USD/CAD Technical AnalysisUsing the range between 1.26 support and 1.27 resistance, price has formed a triangle pattern and broken and retested the descending trendline. Coming off of the 0.618 level of the fibo, I expect this pair to ride to the previous high and major resistance which is the 1.29 area again. I have put my sl beneath the 0.618 level but I do not believe it will break the previous low of 1.2610 before going to the target area.
Buy Setup on ETHUSDLooking at EthUsd, price is beginning to play out as I expected around a week ago! Price has pulled back to the lower level around 2900. Now wouldn't be a bad time to throw some money into ETH.
As for short term plays, I would wait for a bullish bounce off of this level before validating any type of buying pressure. I still believe in the long-term bullish bias of this asset, so I do anticipate another bullish rally. But for now, this is what we're working with.
Potential Sell Setup on AUDUSDLooking at AudUsd, recent price action has been favoring the sellers when technically analyzing the charts. We've recently broken a Weekly Horizontal Level and continued with some bearish momentum.
I'll be waiting for price to come back to a Significant Pivot Point that includes a Weekly Horizontal Level and Non-Horizontal Resistance Level. The multiple levels of significance provide the setup with confluence, which helps validate the overall trade. Let's see if she could setup.
GBP/USD Signal - GBO Gross Domestic Product - 10 Sep 2021GBPUSD has bounced from resistance prior to the GBP Gross Domestic Product data, which measures the total value of all goods and services produced domestically. Technically the pair has broken to the downside of the ascending channel and has now done a retest of the trendline and resistance pivot. The RSI has also generated an overextended signal, and we anticipate downside into the 1.3787 level.