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AUD/JPY, Long setup, Downtrend Channel breakoutAUD/JPY has been in a downtrend on the 4H chart for the last 3 weeks, the down channel being a corrective structure of a bigger uptrend. Now we are looking on the price breaking out of the channel, suggesting a changing in forces on the market towards bulls side. Long positions will be initiated if the price re-tests the downtrend channel or broken support line. Enter - at the test of suport line 77.6x Stop - below downtrend minimum 76.3x Take Profit - around Fib. 0.618 extension or the previous downtrend maximum 80.6x !Another TP can be considered around the Daily downtrend trendline 82.00 Looking for a risk/reward up to 1:3 Risk per trade 2% !The idea will be invalidated if the price comes back in the down channel.
Long
by MarcuDan
BTCUSD wedge breakout, continuation of the downtrendAfter the sharp move down, we see a rising wedge forming on H1/H4 charts. This type of wedge is usually a corrective structure, before continuation of the move (in this case a move down). Short positions could be initiated if the price breaks the bottom trend line (a good idea might be waiting for a confirmation of the break, by testing the broken trend line). Stop loss - above last weeks high Take profit - around the minimum of last week (as i think there is a big chance of price testing the 480 level again) Looking for a risk/rewart up to 1:5.
BITSTAMP:BTCUSDShort
by MarcuDan
2
Long on EUR/USD BUY BUY BUY !!!Reasons for -Firstly as we can clearly see we are in a Triangle formation -We have had multiple bounces from the Bottom trend line which is now acting as Support -The previous Four hour candle was a doji on the trend line -Now this 4 hour candle stick is forming a nice big bullish candle which signifies Bullish momentum from Trend line acting as Support -We have also priced in Higher HIghs -Although waiting for a break of the triangle formation would be the best thing to do i am more then willing to take a risk and only give away 50 pips if its Stop loss and if it hits Takeprofit then we will make a nice gain of 140 pips Key risk management and risk reward is KEY :) Remember History repeats itself My ENTRY 1.08434 GoodLuck everyone ! Happy trading :)
Long
by ARFXC
30