GBPUSD longGBPUSD broke through a major trendline and came back to test it as support. After a bullish engulfing conformation candle, we enter for a buy.
Breakandretest
NZDJPY (BUY SETUP)Waiting for a retest of a clear horizontal zone. Looking for a continuation up to make a higher high.
GBP/AUD - Long Term Buys - Textbook Structure!!!GBP/AUD - all the info you need is written on the charts.
This is absolutely textbook one hour structure so far. Put this is your break and retest notes!
Breaks and Retests are a fantastic confirmation of trend. Use them!
Happy Trading guys!
EURUSD Price gave bearish impulse breaking structure. There will likely be more sell opportunities on the pull back or retest. As long as price stays below the impulse I’m still bearish down to 1.2060 support or lower to 1.2000
GBPUSD - SHORTA break and retest of this demand zone will add more confluence for a nice move to the downside
NZD/USD - Textbook Break and Retest SetupsNZD/USD has been on a long term uptrend since March 2020. Zooming into the 4hr we can identify an ascending channel that has been respected for some time.
Here can see that key levels are being broken to the upside and price is coming back to retest the level as support. From these levels we can take out long positions as a break and retest setup.
It will be interesting to see whether price continues it's bullish move and break through the 0.73 whole level, already once respected.
Drop me a message if you'd like to ask any questions.
AUDJPY, break and possible retest.Price has been on a long term uptrend making higher highs and higher lows. Once again, price has broken above previous resistance. If price pulls back to this support and resistance zone we can drop to a lower time frame and monitor for a reversal pattern before entering another buy. However, if price breaks below this zone we will need to wait for additional confirmations before taking any sell trades.
GBP/JPY - Possible Buy OpportunityGBP/JPY 1 Hour chart - Possible buy opportunity forming in line with our higher time frame analysis! See our previous analysis on the higher time frames too!
EurGpb shortPrice rejected from a key 4H level and the 0.382 fibonacci retracement. Waiting for a break and retest of the key level at 0.90165, if price does so we can expect a push towards the bottom of the bearish channel. Risk/reward of 1/2.
UsdJpy shortLooking to short UJ if the 4H closes like this. Price rejected hard from a key level, meaning the previous support is now resistance.
GBPUSD - Price broke out of ranging triangleAs the title suggests, GU broke out off the triangle pattern that was formed. This should give it the chance to continue the bullish pressure that was present previously. This trade has a RR of 1:4 with a 8 pip s/l and a 32 pip t/p
TRADE AT YOUR OWN RISK
Let me know any concerns or ideas
EUR/USD break and retestEUR/USD is in a very bullish uptrend. A key level was broken, price came back to retest. After conformation on the 4H, we place a buy position.
UsdCad sellUsdCad possible sell setup after price broke a major support level. Waiting for a retest of the level and rejection towards the downside, indicating that the previous support is now resistance. Ill be looking for the retest in the 4H or 1H (depending how price action plays out).
US Dollar still bearish (USDJPY trade active)#USDJPY (Possible trade idea):
(1D):
The higher timeframe has been bearish for quite some time during 2020, and this trend hasn't changed. Still bearish bias confirmed by the 200 EMA and structure. Also fundamentally, US money printing won't stop any time soon. Technically, A wide range retest occurred, pushing the pair to the downside.
(4H):
Looking closer, the said retest on the daily timeframe resulted in a bearish continuation triangle, also broken to the downside.
(1H):
Recently, the price has been ranging in a smaller range and going through London session, it seems we have an interesting opportunity on its break and retest. Target would be at next support at 101.500
US30 SIGNAL (SELL after rejection on monthly trendline)TOPDOWN ANALYSIS: Shows Monthly uptrend INTO a BEARISH FLAG PATTERN
ACTION PLAN: 1.) Wait for price to show a break above previous high, then consolidate between monthly bearish flag trend line and show at least one 4h long wick rejection = enter a sell
2.)As soon as market hits a 1:1 risk reward = move stop-loss to breakeven as we might see a consolidation and then a huge move lower (capital preservation is key)
MAGIC IF: 1.)If market does not show rejection for a short position, look for a bearish engulfing candle on a higher time frame (30min, 1h, 4h) and then enter
2.)If market does not consolidate (in anticipation for the next big move) and then push lower, expect a large bullish movement upwards and then a strong exhaustion and retracement
Reasons/ Confluences:
.Clear strong uptrend exhaustion = bearish flag on the Monthly timeframe
.Price has shown strong bullish move therefore the next must be a retracement or consolidation (because the market always moves in HH, LL and LL LH)
.Price is hitting strong Monthly and 4h resistance area
TIPS:
.Stocks are known for whiplash and false breakouts - therefore only take a trade when clear signs indicate an opportunity (in this case a break and retest and possible long wick rejection)
.us30 is known for its volatility, therefore take caution with this pair = do not overleverage/ risk what you cant afford to loose
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Will the channel bottom hold out?Nice and simple setup, but this means nothing until the channel bottom is taken out. Longterm my bias on this is still long, across the majority of EUR pairs. We are still long on EJ & this pair since May.
We could easily see another push to the channel top which would definitely give the targets a move with it. The targets are in no way concrete, especially if we do not see a break early this coming week.
Can USDCAD break the upper structure?here we have a nice descending and condensing structure. a quick look at the MACD shows us that this sell off looks to be tiring.
We have already seen a break of the larger structure, now we need to see that the smaller patterns bottom holds, and find a break of the upper structure to look for long opportunities. Smaller targets are potential for now and can easily move should this smaller correction continue to form. If we see a new low form, then the larger targets will move down a little in ratio to the new low. Fibs will show us this and i will reapply them should I need to.
CADJPY, we got a retest.Monitor this area closely on a lower time frame for a bearish entry once price continues to respect this support and resistance zone.
