Get started

Countertrendline

USD/JPY Trade IdeaHello and welcome to my Trade Idea of the currency pair USD/JPY. Lets start with the Top Down Analysis. Monthly: Monthly is ranging. But in the last few months, some huge bearish candles have been recorded. Weekly: On the weekly timeframe we see a bearish momentum. Daily: Daily is bearish too but we can see a small pullback after the long downtrend. H4: On the H4 timeframe we draw our counter trendline, and expect that the price forms new lows. Have a nice day.
Short
by Bullandbeartrading
15
NZD/CHF Trade IdeaHello and welcome to my Trade Idea of the currency pair NZD/CHF. Lets start with the Top Down Analysis. Monthly: Monthly is bearish although he has recovered the last 2 months. Weekly: Weekly was in a long downtrend but now he has been in a pullback for 4 weeks. And our target is small anyway and with in the pullback. Daily: If we're not zoom out too far, daily has been bullish for a while now. H4: On the H4 timeframe we see a counter trendline and expect a little push from 50 pips. Have a nice day.
Long
by Bullandbeartrading
23
CHF/JPY Trade IdeaHello and welcome to my Trade Idea of the currency pair CHF/JPY. Lets start with the Top Down Analysis. Monthly: On the monthly timeframe we see bearish momentum. Weekly: There is a huge bearish candle after the long bullish pullback. We are bearish from now on. Daily: I think the price will break the inner counter trendline and react to the outer counter trendline. As a result, he will retrace himself from the outer counter trendline and then he will break through the outer counter trend line.
Short
by Bullandbeartrading
9
AUD/JPY Trade IdeaHello and welcome to my Trade Idea of the currency pair AUD/JPY. Lets start with the Top Down Analysis. Monthly: The monthly view is bearish. Weekly: The weekly timeframe shows a downtrend as well, and now we're looking for short trades. Daily: We see a smaller correction of the long downtrend, and search for entrys. H4: We spot a counter trendline. On this timeframe we will find the entry point. We still have to see if the price will break the counter trendline. I'll keep you up to date as usual.
Short
by Bullandbeartrading
13
Favouring Shorts EUR/JPY 4HR Fib Retracement / Counter TrendlineAfter seeing big moves to the downside for the EUR/JPY Pair I do still currently favour more downside. We can see on my chart that we are currently In a consolidation area where the market cant decide where to go but is leaving us clues as to where the direction may be with the price action available to us. Starting at the Fib retracement level we can see we have found a good area of resistance at 38.2% as price has aggressively been moving away from this region when being tested. I have placed a counter trendline in I would not feel comfortable to enter this trade till we see a break of the counter trendline and a break of the consolidation area so please be patient on this pair and wait for the market to present its hand.
Short
by FXEntries
Potential XAU/USD Short 4HR Fib Retracement & Counter TrendlineAfter keeping a close eye on Gold prices recently we can see that we are in a obvious downtrend. I have drawn in my fibonnaci and we can see price is respecting the 50% retracement level acting as a very dynamic area of resistance with some clear bearish engulfing candles onces testing this area. Although the counter trendline has been broken I spotted a key daily area of support around (1280.000). For me to take this entry I would like to see a close below the 1280.000 region to confirm that shorts are in play and target the first Fib level (1254.439). Be patient with this entry as we never made clear lower lows previously on the 4HR.
OANDA:XAUUSDShort
by FXEntries
Potential GBP/USD 2HR Short Fib Retracement & Counter trendlineI have been monitoring this pair closely due to a head and shoulders pattern forming on the weekly GBP/USD as we can see price has tried to create higher movement but failed to do so many times. On the 2HR I have noticed a nice counter trendline forming and a fibonacci retracement forming. I would like to see price come up and tap one of the Fibonacci levels. I do believe price will reacted at 38.2% as you can see on the way down to this level price has respected many different fib levels. To confirm this move I would also like to see a break of the counter trendline with clear bearish bias.
Short
by FXEntries
AUD/USD Potential Short Entry 4HR Counter Trendline Fib RetraceAfter doing some techincal analysis on this pair and monitoring the movement. Last week we broke a key area of monthly support now resistance (0.70500). The buyer tried to retest this area with a huge engulfing candle but couldnt get enought momentum as price has moved downwards ever since and also tapped the 78.6% retracement. We can see a clear counter trendline forming and a slight head and shoulders formation. Not a perfect head and shoulders but a good enough confluence that this pair could see more downside. I would be waiting for a clear 4 hour break and close of this trendline with clear bearish price action and an EMA crossover. Waiting to see what the market does next.
Short
by FXEntries
GBP/USD 1HR Bullish Counter Trendline / Fib Retracement Entry I have been doing some analysis on the GBP/USD pair which we can see since last week we have seen a clear reversal of the market to the upside which is presenting some nice fibonnaci retracement entries. I have drawn in a counter trendline which has been created from the retracement of the latest bullish pullup. I do believe there is still room for this pair to go further to the upside. We can see price has reacted to the 50% retracement level which suggests that suggests price could move fast if the counter trendline is broken. I do believe because this pair is moving aggressively to the upside I would only wait for a clear break of the counter trendline before entering not for a pullback. Always wait for the market to present its hand so be patient.
Long
by FXEntries
2
Potential Downside EUR/USD - 1HR Counter Trendline EntryDoing some analysis of the EUR/USD pair and we can see that weare making a retracement to the upside from some heavy downside movement over the past week or two. I do believe that we have some more room to move to the downside after the rejection last week of the 61.8% Fib level. I would not feel comfortable taking this entry until the counter trendline is clearly broken. We should then see a retest of the counter trendline or the daily Support/Resistance level I have drawn in blue. If we see clear rejection then price should drop and create new lower lows. Be patient and wait for the market to present its hand.
Short
by FXEntries
Potential AUD/USD 4HR Short Fib Retracement / Trendline EntryAfter looking at the AUD/USD pair I could see that we have just come from a big bearish move and started to see price pull back up to this very significant monthly area of support turned resistance creating an A B C formation on the Fib Tool. As we can see both counter trend line and trend line are being respected price made a lower low and a lower high which almost touched the 38.2% but not quite which would suggest when this price moves it will be an aggessive move to the downside I believe. To confirm this we need a clear break of the counter trendline on the 4HR. If we see this I believe that the first target of 0.69300 will be very achievable.
Short
by FXEntries
EURUSD - New Lows Over The Horizon So, starting with the fundamentals, we see no major news at the start of the week. However, there is volatile EUR news on Wednesday, with the main refinancing rate being released as well as the Monetary Policy Statement at 12:45 GMT. The Monetary Policy is crucial to understand data on interest rates and inflation. On to the technicals and starting on the daily timeframe, we can see a clear downtrend with a range of lower highs and lower lows. We have a descending trend line that was respected, however we saw one spike/false break-out by +/- 50 pips above the trend line. We then saw price snap back lower from this region of resistance met. At this current moment in time it is clear we are currently consolidating within a +/- 70 pip range. We are also sitting at an interesting daily key level where I see two scenarios playing out. We can either treat this daily key level as support and spike back up to test the descending trendline, as well as the 61.8% Fibonacci level marked in a red rectangular strip, create a reversal pattern, a lower high and in turn a new leg to the downside. OR, what I see having more potential is price falling from its current position. Reason being, We can see this triangle chart pattern and a flat base on the daily key. We've had 3 drives into this area of support. The first drive to the low was Mid-November, second drive early-March and now we currently testing it for the third time. We have reached the base and we have not seen a bounce or any buying pressure. Hence, my thoughts of going short sooner than later. If we put the EMA's on, we can see a clear bearish trend as well as we have rejected the blue MA, with price trading below both EMA's. Dropping down to the 4HR timeframe, I have a counter trend line drawn, which price broke below on the 3rd touch as well as it closed below. A retest and bounce back lower is expected. Drawing out a Fibonacci on the most recent High to Low, we can maybe see a retracement of 30 pips before going lower after seeing a rejection of resistance, the counter trend line, EMA's as well as the Fibonacci, all giving us confluence to go short. Ultimately, I'd like to see price come back down to the 1.0800 price region as price gapped in April 2017 and we haven't seen this correction in the market as of yet. However, my first take profit will be the weekly key level of 1.10900. As always traders, have a great trading week, ensure you are using correct and suitable risk/money management as well as ensuring your psychology is 100%.
Short
by KeownArcher