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Falsebreak

GBPCAD Updates And Follow UpPrice is currently pushing up and made the move to the zone where we wanted it and it reacted very nice from it. Conservative -Only after the blue trendline is broken start looking for buys with your favorite strategy. H1 - we have a classical Forex Libra Code setup - We have divergence (red) followed by higher highs (blue). What we can expect now is pullbacks and then go long. Aggressive entry - Already paying up good. We have alternative trend line along with divergence and the H1 false break (blue horizontal line): H4 - vVry strong action zone which is being respected so far. You can use Forex Crystal Ball strategy for confirmation.
Short
by VladimirRibakov
2
EURCHF Follow Up AnalysisIn the previous post last week, we said that we are after buys that will come immediately after corrections. There were two false breaks on the H1 chart. We already see H4 divergence and I expect a short term bearish correction. There are two possible trading scenarios now: * Short Term Sells * Longer Term Buys Final target for the sell positions will be around the 1.09 level. Of course watch out for bullish divergences. Basically once you start getting Forex Triple B or sRs Trend Rider sell alerts, you can try shorts. Next step would be to switch for buys. Once we start getting buy signals, at the levels where we have confirmations for the end of the correction, we will switch the trading direction and long the pair. Let's first of all focus on the sells now, and when the time comes, I will update you.
Short
by VladimirRibakov
USDCAD Follow Up and UpdatesWe said we are looking for pullbacks and then sell, in the previous post. However the market pushed lower towards the target zone and didn't provide us with such opportunity and it is now time to start looking for buys. D1 - Price reached the zone exactly where we expected it to reach. Also we have: * magnet zone * triple cycle * very strong horizontal support * ongoing bullish divergence H4 - bullish divergence is also present but there are no false breaks yet. We want to see false breaks to confirm the current bearish momentum is running out of steam, BUT be patient, follow the price action, wait for confirmations and signals from the strategy that you are using. Don't just jump into a trade because it looks "sexy" and tempting.
Short
by VladimirRibakov
GBPUSD Buy IdeaMy Long term view on this cable is buy. We are currently in a good place to look for buys. Bullish Scenario: Triple Cycle with Bullish divergence formed followed by False break. Until the last low holds we can expect the price to move up as the break below 1.2630 level was powerfully rejected. Bearish Scenario: I will be keeping an eye on the Daily uptrend line around 1.24-1.25. As it is still possible to see the price going down. If the current support doesn't holds, then we can look for sells only if we get confirmation and signals from the strategy that we use. Until then don't open a buy or sell trade. We can look for buys as long as last low at 1.2580 holds.
Short
by VladimirRibakov
NZDCHF Sell Idea UpdateUpdate for the Sell Idea that we are following from last week. On the H4 chart we will have a second false break if the current candle closes 0.7067. A break below the most recent trendline and the most recent low is what I am looking for on the H1 chart. Look for a small correction after the breakout and then enter to increase the risk reward ratio. Final Target 0.6920. Protection above last high which is currently at 0.7103 or so. Invalidation – break above 0.7103 before a triggered would invalidate this setup and we will look for entries higher.
Short
by VladimirRibakov
Shark886 within 1H consolidation zoneReading the chart After the French election the pair surged higher until it hit a "major" dynamic resistance (reprojected a channel aligned at the 2016-10-06). Now it consolidates awaiting the big news from the UK. As a pattern trader I look for patterns within consolidation with potential to break out. If I loose, I reset and wait for a retest of the broken consolidation zone. Measured from the latest highest low I saw two things: a Shark886 pattern and a Gartley pattern. Both completion points creates a nice potential reversal zone (PRZ) of 3 pips at the most recent higher low. Both patterns share the same stoploss, so it is more attractive to take the entry of the Shark pattern for a better risk:reward ratio. Setup Shark886 Entry: 0.8668 Stoploss: 0.8642 Target 1: 0.8706 (1:1.46) Target 2: 0.8729 (1:2.35) Target 3: 0.8794 (1:4.85)
Long
by Mikoxl.
Gold Bullish Intraday SetupBullish continuation is expected in Gold. It all starts from the H4 chart where the commodity broke above the most recent trend line and it looks like it is correcting itself at the moment. I believe this correction is near its end as we are pretty close to the trend line (re-test) and there is a strong support zone on the way. Hidden bullish divergence formed already and it is confirmed on the H1 chart. Now let’s drop to the intraday charts and see how exactly to join. In the M15 chart we are looking for a false break below 1320.45. This is the first step. Next we want to see the price breaking above the most recent down trend line (yellow). A small pullback and we can go long. Stop Loss – below last low (the one of the false break). Target 1 – 1330.80. Target 2 – 1347.45.
FX:XAUUSDLong
by VladimirRibakov