GBPAUD - BROADENING WEDGEI WOULD ADVISE TO BE CAREFUL OF YOUR STOP LOSSES IF WE DON'T YET BREAK UP AS WE COULD BE COMING BACK DOWN FURTHER. IF WE DO COME DOWN THIS COULD GIVE US ANOTHER GOOD OPPORTUNITY TO GET IN LONG.
Broadening Wedge
Long AUDUSD : Trading within Broadening wedge & TrendlinesWe have simple trendline setup and after retest of lower trendline of broadening wedge , Audusd went bullish breaking trendline. Audusd retested support zones around 0.7650's thrice and moving up withing broadening wedge ( ascending wedge), so with proper stops we can initiate longs.
Feel free to leave your comments / opinions...
USDCAD : Corrective Broadening Wedge Pattern !USDCAD provides us 3 scenarios to trade. As mentioned in the chart above, we can have breakout in any direction, but broadening wedge ideally results in Upside breakout. If USDCAD decides to go on opposite direction, we can short USDCAD with proper stops.
The 3rd scenario is we have retested the previous support @ 1.3130's in USDCAD, so on Bullish confirmation we can enter long positions with proper stops below the support area. Before taking any type of trade either Pullback entry or Breakout, check your rules and risk-reward.
Happy Trading !
AUDNZD Long Setup: Large Gartley Complete, Expanding WedgeHey Traders! AUDNZD has completed an expanding wedge at trendline support. The support also marks the completion of a larger Gartley pattern on the Weekly chart. Happy trading!
GM
Long and Short PossibilityFor this trading I'm looking for this broadening pattern to break out by 30 pips in either direction. It looks like this support level has already become resistance but I will be waiting for a breakout to get in on it. Target 1 in is at roughly the price range of the beginning of the wedge. The second Tp is at 30 pips less than the range from the lowest candle in the wedge to the highest. I put it 30 pips before the range because I'm waiting for a 30 pip breakout to enter the trade. Stop loss is 50 pips due to my account and position size.
Stop Losses : 137.91
Take Profit 1 : 135.81
Take Profit 2 : 136.31
GBPNZD Long: Potential Triangle/Channel BreakoutPrice is in the potential reversal zone for a weekly bullish bat and at point E of an expanding wedge. If price breaks out of the ascending triangle (usually a continuation pattern and sometimes a reversal pattern) it may act as a catalyst to break out of the ascending channel as well. This could mark a large reversal toward the top of the expanding wedge. Keep an eye out for price action if the triangle is broken!
GM
USDJPY Long: Potential Expanding Triangle, Bat, Missed PivotsHey traders! USDJPY is approaching a potential reversal zone that could spark a large bullish move. A bullish bat is nearing completion near the descending trendline. Missed weekly and unhit weekly pivots sit above price. The .382 fib is also confluent with the missed pivot from last week which may signify a nice supply zone. Movement past the 1.272 mark could mean further bearish movement so that's where I put the SL. Targets at the nearest weekly pivot and the missed pivot from last week. Entry near point X of the bat should price reach those levels. This entry is also confluent with the short-term descending channel shown in gray.
AUDNZD Long: Expanding Wedge Complete at Critical LevelGreetings traders! AUDNZD has reached an important level. The 4H shows a nice expanding triangle that may add support near a potential point E. On the daily chart, there is strong support from a parallel channel. In addition to this, we have two precisely confluent fib levels (1.272AB=CD and 1.5AB extension). Since I'm seeing some pin rejection at the base of the channel, a tight stop may be placed below the pins. If price makes new lows, it is time to re-evaluate. If not, it may be possible to catch a larger move toward the missed monthly pivot for June which would mean major pippage and a trade with great R/R.
Bullish Confluence:
Expanding wedge support
1D Parallel channel support
RSI Oversold
3 missed pivots above price, including an unhit pivot for June
Happy trading!
USDCHF BROADENING WEDGE ON H4USDCHF has developed an ascending broadening wedge pattern on H4 so we look for a short after it breaks below, with 0.98000 being our first potential first profit target. Any comment is deeply appreciated and good luck with your trades!
