Breakofstructure
Determine Trend Reversal Using RSI Indicator With Price Action1. Price created lower low and RSI higher low (tight divergence - oversold).
2. Reversed on demand zone with candlestick pattern.
3. Broke down trend structure with retest as confirmation.
4. Price went above 200 EMA and used it as support.
Sell set up. Our analysis on USDCHF. Add this to your watch list. We suggest you trade this pair only if it satisfies your strategy.
USD/CAD LONG Looking for a intraday/swing to the projection of 134.800. It is NFP week so markets tend to bounce however it wants to bounce. We haven't broken structure to the change the sentiment of the overall trend as of yet so this would be my counter. Project lines up with a QP and resistance area on the daily chart.
EURAUD - BEARISHA break of this mini support level will validate a continuation towards the downside
CJ trade idea on daily chartCj trade idea... waiting to see how price action reacts to the broken support
there are two possiblities on audnzd there are two posiblties i think there is wyckoff pattern forming and once the level is broken to take the long
USD/JPY - Are the Bulls Back?Today was a significant day for the USD/JPY pair as we finally broke out of the 12-day period of consolidation. It is noteworthy that the consolidation phase was very tight giving us a 30-40 pip trading range for the whole period except some attempts to push upwards and downwards. While this period wasn't the best for trading as the price action was choppy and indecisive, that apparently formed us a descending trend-channel.
The macroeconomic data out of the US has recently shown that the economy is currently performing well better than its major counterpart European. That has been clearly seen in the top currency pairs in the past few days. So given the current USD strength, the area around the 112.846 level seems to be the next target for bulls. Although, the Yen might soon become more favorable if the Bank of Japan keeps its monetary policy unchanged.
The reasons for the continuation of the uptrend:
1. break of round nr - 112.000
2. the continuation of the smaller uptrend from 25th of March on the 1D timeframe (a continuation of higher highs and higher lows)
3. the price is above the 50, 100 and 200 EMA on the 1D timeframe
4. break of the 0.618 Fibonacci level
There will be important macroeconomic data out of the US and Japan on Thursday and Friday so you should keep an eye on that as well. There remains a slight bearish case to the downside.
This is my first post so let me know what do think of it.
Cheers
USDJPY - Is The Dollar In Trouble ? After seeing a series of higher highs and higher lows in a corrective ascending channel, we've now seen a lower high made which could potentially break structure. This was also the 3rd touch off the descending trend line around the 78.6% Fibonacci level. We then saw a break & retest of the ascending channel off the 61.8% Fibonacci level giving us the perfect entry for a sell.
I have an entry and will be looking for more retracements to enter on this pair. News may also play a role as we have the FOMC Press Conference, announcing economic projections and Federal Funds Rate, as well as the first quarterly GDP statistics. These are volatile news events so take note of the date and time. There is also plenty more data coming out for the USD so I believe we can see the Japanese Yen being treated as a safe haven.
As always, trade with risk management and have a great trading week !
Instagram: keownarcher
EU Sell Next week Based on StructureEURUSD has recently made a strong push downward past the Previous low on the Daily. I predicted a retest at the new resistance created by the previous low then another strong push downward. Ill have to wait until next week, probably Monday for the move.
AudJpy Short IdeaFairly simple setup. Fully reversed bullish trend breaking past former higher lows. Pullback to 61.8% in alignment with psychological number 79.00. I suspect this correction is over and the 61.8% fib a valid level to take our shorts. Tp1 @ 76.80 Tp2@ monthly support in alignment with -0.61% fib extension at 76.00. Lets go.
NZDUSD Ready for Bearish MomentumBased on timeframe analysis, this a intraday short trade centered around :
Break of Structure on the H4, H1 and M15
Test of a strong daily resistance level
Bearish engulfing candlesticks showing a change in trend momentum
Retest of the break of structure before continuation of new trend
I also showed my projected stop loss and take profit areas. Be sure to use proper money management when trading, its the most important part.
Happy Trading.
- Delroy
CHFJPY Sell opportunity CHFJPY Daily Chart
Pending Sell stop order- Swing trading.
Looking for a trend-line breakout & Support breakdown.
let's see how it goes.
Good Luck!
EURJPY - Breakout of Descending TrendlineWaiting for a minor retrace that should lend to a nice buy opportunity on EJ. Support on previous descending trendline, new ascending trendline, psych level of 128.50, 50% retracement and a strong daily support/resistance area.
POSSIBLE SHORT OPPORTUNITY ON USD/JPYI'm waiting for price to break these two red support lines and then create a higher low for structure and then a bearish engulfing for a short entry.
Confluence waiting for one more confirmation.We have a possible long setup for Aud/usd
One. We have a break of structure in previous low in the bearish trend which now makes it Bullish.
Two: We have a possible retest in a supply Zone
Three: The supply zone is in the 61.8 however it can bounce off the 38.2
Four: Macd is Crossing
Five: waiting for Bullish candle stick variation
Long trade based on confluence of factorsWe are in this position because of the break above a previous structure and retracement back into a resistance come support zone. The pinbar candle signalled the entry, We have a 2360 fib level from a previous swing and we are trading in the short term trend direction. Probability suggests we will lose this trade but the risk reward makes it worthwhile.
EURJPY BREAK OF TRENDEURJPY broke the support that's been in place for more than a month so it is highly likely to start a bearish trend.
There is a important structural level at 126.72 which coincides with 0.5 Fib so I assume that EURJPY will jump up to that level and go down again. Now it is in a relief rally up to 0.5 Fib.
I would suggest a short position at that level.
Good luck!
TRADE WHAT YOU SEE: Overall Expectation for next week on EURUSDTRADE WHAT YOU SEE
During my Top-Down-Analysis which means for me that I am starting on the Daily timeframe, I thought this kind of process would be quite interesting to share.
1st: I identified the broken structure to the downside
2nd: I anticipated the outside return into previous strc. resistance, which completed last night during the asia session.
3rd: Now I am expecting further decline .
With this overall plan I move down to lower timeframes to get involved in potential shorting opportunities.
-Have a great week of trading. -Felix
