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GBPCAD POTENTIAL SHORT OPPORTUNITY (1H & 4H CHARTS) GBPCAD POTENTIAL SHORT I was doing my pre-market analysis for the week and something about this pair had caught my eye. I was looking at global correlation between the currency pairs and the market had showed me that the CAD gained a lot of strength last week across the market. Due to this it had led to a CAD strengthened market which has now led into some trading opportunities. If you look at this pair on the 4H timeframe you can see the market make an attempt to make a new high and come into structure around 1.71600. This had immediately been followed by a very strong seller momentum push to the downside; not only moving to the downside but breaking the recent structure and swing low on the 1H and 4H charts. Lets take a look at where the trading opportunity may be. 4H Chart: *on this timeframe chart you can see that the market had come into structure around 1.71600 and was immediately followed by a very strong seller push to the downside *when the market had been pushed to the downside it not only was very strong but it also had broken structure on the 1H and 4H charts (showing seller control) *the sellers are a lot stronger than the previous buyer in this case and therefore led to a potential short opportunity *watch for a weak re-test by the buyers into structure if we see one 1H Chart: * on the 1H timeframe look for a weak pullback by the buyers AS WELL AS a strong seller interest to show up again *we want to see that because it will show to us that the seller is still interested in taking prices lower *use this timeframe for a good risk/reward ration setup! PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE TRADE SETUPS! CHEERS!
Short
by JosePips
3
GBPJPY SHORT POST ANALYSIS (NY SESSION TRADE) GBPJPY NY SESSION TRADES I had been looking for some day trading opportunities during the New York session this morning and GBPJPY was showing some good potential short signals. When trading such a short timeframe the best way to approach it is to see what the VERY NEXT move the market is showing its trying to make is the one you have to capitalize on. This morning is was displaying a potential short. On the 15M-1H charts there was a very strong seller momentum push to the downside as you can see on the left hand side of the chart. The push had been a new low and the buyers had brought price all the way back up into the price level of 142.900 where the original move had started. This relief back into structure had been very weak compared to the downside push by the seller showing me that this was a 100% discount for the seller essentially. Which who wouldn't want a 100% discount ? ;) Let's take a look at this. 1H Chart: *on this time frame GBPJPY had been in a sellers trend for some time almost since the beginning of November. *watching the momentum it had showed mt that the sellers were still very interested in this pair to short 15M Chart: *during the NY session when I'm looking for a potential trade opportunity I look at 1H for bigger picture and 15M for the details of what it is trying to show me the next move will be *I had seen a very weak push to the upside and then a top started to form, showing seller interest again *risk/reward was fantastic and decided to take the trade for 100 pips profit REMEMBER TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT WHEN TRADING. STAY DISCIPLINED TO YOUR TRADING STYLE AND PROCESS. Please like and follow my page for more profitable trade setups as well as post-analysis ! Cheers!
Short
by JosePips
USDCHF POTENTIAL SHORT OPPORTUNITY 1D TIMEFRAME USDCHF POTENTIAL SHORT I had posted last week on USDCHF displaying how it is sitting at very significant structure. This last week the market had showed me a move that peaked my interest and that supported the short bias on this pair. On the daily timeframe this pair was recently moving to the upside, formed structure, then came crashing down failing to make a new high and breaking that newly formed structure level. The sellers came in with strong momentum and this led to my belief that the market is trying to tell me something. Remember to always let the market tell you what it wants to do rather than you telling the market. Follow who makes money and that is who moves the market (driving forces). This drop I think could be a lead in into a future potential downward move. Lets check it out. 1D Chart: * Price is sitting around the significant price area of 1.000 *The market attempted to make a new high after forming new structure and was immediately pulled down with seller strength *The seller showed strong interest in this price area not allowing it to go higher *watch for weak buyer pullback to display seller control/power 4H Chart: *on this timeframe look for a weak buyer pullback back into that recent significant structure *watch for strong seller interest again once price pulls back into the structure point *use this timeframe for better risk/reward on this pair REMEMBER TO ALWAYS USE PROPER RISK MANAGEMENT AND BE DISCIPLINED IN YOUR APPROACH. STICK TO YOUR TRADING PLAN. I UNDERSTAND NOT EVERYBODY IS GOING TO LIKE HOW I TRADE AND I AM NOT HERE TO APPEAL TO EVERYBODY. I AM HERE TO CHANGE AS MANY LIVES AS I CAN AND I UNDERSTAND ITS EASIER WHEN WE TRADE SIMILAR. BUT THE PRINCIPLES AND FOUNDATION ARE ALL THE SAME. Cheers! Please follow my page for more profitable trade setups !
Short
by JosePips
2
USDCAD POTENTIAL SHORT OPPORTUNITY (1H AND 4h CHARTS) USDCAD POTENTIAL SHORT OPPORTUNITY This setup is going to be similar to the GBPCAD setup that was posted this week as well. If you look at this pair you can see that recently the market had a very dominant seller move to the downside. The biggest tell if the selloff is legit or not is going to be the RE-TEST. The re-test is a huge tell sign of whether or not that move was legit or not. As traders we must trade high probable setups so that our potential of winning is greater than of losing. This is how we will become consistent over time and it takes strong discipline to do so. Let's take a look at this USDCAD setup. 4H Chart: * on this timeframe we can see that the market had come to a high point and was followed by a very strong seller push to the downside *you only want to sell the market at high point and sell at low points. This may sound very obvious for most people but that's not the problem. The problem is that most people do not apply it to their trading *look at this timeframe for a weak re-test by the buyers to confirm the seller is in control 1H Chart: *use this timeframe to watch the pullback on a more specific level *use this timeframe also to watch and see if seller interest comes back in on the re-test (if it doesn't we wont be looking to trade this currency pair) *make sure to have good risk/reward based on this timeframe MAKE SURE TO ALWAYS IMPLEMENT PROPER RISK. NO SETUP IS A GUARANTEE THAT IT WILL GO THAT WAY. WE ARE TRADING BASED ON PROBABILITY AND YOU SHOULD ALWAYS USE PROPER RISK MANAGEMENT. PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE TRADE SETUPS. CHEERS!
Short
by JosePips
AUDNZD LONGThis afternoon the Aussie released its monthly employment change which happen to be over 4 times greater than last month. This is a strong indication for short term spikes to the upside for Australian pairs. The technicals point towards a bullish engulfing candle on the 1 hour timeframe along with plenty of other factors ( too many to name) such as the recent double bottom around 1.0614 support on the 15 minute timeframe. I'll be looking to take this pair up as much as 500 pips in the longer term, but ill take my first profits once the short to intermediate term target is reached around 1.0900 resistance.
Long
by bajapips
AUDUSD POTENTIAL LONG OPPORTUNITY (TRADE UPDATE) AUDUSD TRADE UPDATE Okay so last week I had done analysis on the AUDUSD currency pair for a potential long opportunity. The market had showed me that this was a potential opportunity because on the daily timeframe the market failed to make a new low and that was followed by a strong momentum buyer strength. It had also broken structure on the 4H timeframe and based on the momentum it is showing me that it is a legit breakout above that structure. This opportunity seems to have more of a potential to go to the upside then it does to the downside, also leaving us with a better risk/reward ratio. Watch the daily timeframe and the 4H timeframe for a potential continued weak pullback into that structure zone down at .71400 area. If we see the continued weak re-test (showing buyer control) and we see strong buyer interest come back in after this pullback then we can look to take this pair to the upside up into .74400 Keep an eye out and always remember to let the market show you what it wants to do next! ALWAYS make sure to use proper risk with your trading setups as well and stay disciplined to your trading structure and habits. Lets see how it plays out! Cheers! Please like and follow my page for my trade ideas and profits !
Long
by JosePips
USD/CAD, Daily Chart Analysis 10/12 Technical Analysis and Outlook Current steady to lower momentum and failure to close above vital Mean Resistance 1.3068 will be signaling lower prices in interim and drop to Mean Support 1.2951 (Stage 2). If the currency pair extends the descend by closing below Mean Support 1.2951 , this would confirm that a mid to long-term bearishness. On the contrary, closure above Mean Resistance 1.3068 will advance the price action (Stage 3) to Mean Resistance 1.3185 and 1.3268 respectively, while Key Resistance 1.3139 as well as completed Currency Rally 1.3342 outcome needs to be retested.
by TradingSig
NZD/USD, Daily Chart Analysis 10/12Technical Analysis and Outlook Current steady to lower sentiment and failure to close below vital Key Support 0.6413 is a signal advocating mildly higher prices in the interim. Mean Resistance 0.6593 will be a probable target (Stage 2), while Key Resistance 0.6684 is an open target for the bulls. Drop to Key Support 0.6413 (Stage 3) will send the currency pair lower causing the descend to fulfill the law of probabilities of Currency Dip 0.319 .
by TradingSig
USD/CHF, Daily Chart Analysis 10/12Technical Analysis and Outlook Mildly bullish momentum signaling that sideways to higher prices are possible interim. If the currency pair extends the ascend by closing above Mean Resistance 0.9927 , this would confirm that a short-term bullishness has been positioned. The next upside target is Mean Resistance 0.9968 , and revisit the Key Resistance 1.0048 along with completed Currency Rally 1.0055 . On the downside, the first support is Mean Support at 0.9840 (Stage 2), second Mean Support is crossing at 0.9724, while Key Support is looming at 0.9586.
by TradingSig
GBPjpy: False Breakout OpportunitiesFOREXCOM:GBPJPY -0.11% Been in a range the past 3+ weeks and its about time this pair breaks out ... but first the false break as I fully expect the pair to rise up through the top end of the range, hit some resistance; maybe see a pull back; but ultimately achieve the 150+ price level (see red zone), showing yet another false breakout. Once there will look for patterns for a shorting opportunity, down through the previous range to new LO's (see green zone). However, should today's gap down open continue its decent, I am looking for buying opportunities (green zone) up through the previous ranges to new HI's. These are some very large zones and of course many pips can be made between the above scenario. If other opportunities present for smaller swing/day trades, I will post them if/when I see them as well. For now, I like this setup for potentially a 300-500 pip move. Will update as the week unfolds.
Long
by ProSTrades
Ripple Looks Perfect For Yet Another Short After making the bold (and nearly 100% accurate) claim that Ripple would backslide by nearly 20% in value, this article shall serve as a follow-up of sorts to that claim in order to attest to its veracity (or lack thereof). The claim in specific has been successfully archived on TradingView here: Thus far, Ripple is down 14% from the price that it was when this original price analysis (advocating for an aggressive short position) was originally crafted. There is a R/R on the trade that describes the exact targets and S/L for the trade here as well. The purpose of this analysis will also be to see whether there needs to be any adjustment in the trading strategy that was prescribed in this article in order to preserve maximum security for consumer funds. Ripple Price Analysis From the very first picture, the strong and demonstrable downtrend on the H1 chart (1-hour time frame) should be fairly obvious. Each translucent blue box in the picture above represents another instance where the price failed to break above the overhead diagonal downtrend resistance. As credible trading theory dictates, the repeated testing and failure to break above the diagonal downtrend resistance should be seen as a reinforcement of the overhead downtrend resistance as an increasingly strong entity. Again, it is worth noting that this formation has taken place on the H1 chart. Brief Look at Chart Formations Let’s Scroll Out to Larger Chart Resolutions Below is the Zero_n0ncense Reversion Ribbon V2 on the H4 : In the picture above, there are a few things of note: 1. The ZN Reversion Ribbon V2 has been applied to the chart. This is a custom indicator (i.e., you cannot add this to your TV chart without my express permission at this point in time; give it another day or so). 2. This indicator essentially acts as an indicator and an EMA reversion in one. 3. The fact that the last three candles have a heavy green fill in with a red outside (showing that the red candles have been candled), means that there is strongly waning buy pressure (if any at this point). 4. In addition, there seems to be a slight convergence of the Histogram, which would corroborate the assumption that the gains that are being experienced in the markets at this current point in time are larger temporary in nature and not an indicative of a general ‘bottom’ in the market (although there are numerous accurate contemporary examples that can be made). To wrap it up, the indicator is still flashing off bearish signals. However, here’s a potentially bullish indicator that can be spotted on the daily charts for $XRP. Zero_n0ncense Balance of Power RSI (14) On its face, you read this indicator the exact same way that you read the regular RSI, but with a twist. With this indicator: 1. The purpose of this line is to track the underlying momentum of the Balance of Power indicator. 2. The Balance of Power indicator is designed to track buy and sell pressure, not necessarily price action (the normal RSI can track price action). 3. Thus, the Balance of Power RSI provides a means of tracking the momentum of a cryptocurrency’s underlying buy and sell pressure by smoothing the data from the basis Balance of Power indicator, then subsequently and accurately plotting its momentum by using past price data. What is noteworthy about this indicator is that what the line is literally telling us is that there is still no relief in the underlying buy pressure for $XRP. Now, let’s check out the line on a smaller time frame than the daily to see if we can detect any individuals beginning to accumulate $XRP at some of the levels that it has been over the last couple of days or so while the price action has stabilized. The picture above shows the Balance of Power RSI on the H6 chart. From the data above, it is hard to conclude that there is any underlying trend in the price that can be biased toward buying or selling. Volatility RSI The volatility RSI is yet another custom indicator was designed with volatility as its basis, rather than the price. Thus, as the line nears the bottom, so does volatility. The theory behind this is that volatility generally increases substantially as the price increases (in this bear market), and, as such, when the line is headed upward, so is the general price of the underlying asset that this indicator is tracking volatility for. Thus, from what we can see in the picture above for the H6, the volatility may be very close to ‘bottoming out’ in a short-term sense. As can be seen in the picture above, the RSI(14) gives us no information that is useful for us to work with on the H6, so let’s pan down to a lower time frame. The same can be said of the H3 as well. Overall, however, the RSI(14) is reflecting a bearish trend that is yet to be broken on the H3 and above, which is still very bearish overall. Aggressive Moving Average Indicator (Custom) In situations like these where there appear to be no indicators on the chart that are capable of assisting with the rendering of a predictive analysis, I tend to rely on the ‘fastest ‘ indicators that I have. In this instance, that would be the aggressive MA, which is a custom indicator that is infused with a plethora of mathematical calculations and price signals with the purpose of curating the fastest signal. As one can see from the chart above, this ‘super fast’ indicator has provided a sell signal. Support/Resistance Points The most obvious sighting can be spotted directly on the chart itself: Above, the overhead resistance that is shown was actually formerly a major point of support. Therefore, the theory that I have is this: It seems as though the price of Ripple is merely re-testing the overhead resistance point before it continues downward. I say this because: 1. There is nothing in the underlying indicators to suggest that this is a true reversal. 2. The failure of the price to actually break above this overhead resistance which, once again, was a major point of support in numerous instances prior is another major red flag. Conclusion Now, the inherent danger here is obvious: What if this is not a re-test and the price continues to rise? This is a valid fear that most traders have when it comes to making such an assumption because a failure to recognize the difference between a re-test and an ascension toward a higher price point may = dramatic losses in question. However, in this instance, there does not appear to be anything that signifies the price will go up. However, in order to hedge onself, the following R/R is advocated for this trade (if one has consolidated the profits from their short already and is looking to re-enter in with another short position): The ‘stop’ for this trade is placed slightly below the next overhead resistance point in order to provide greater assurance for traders that the S/L will be successfully triggered (the close one is to a resistance/support point, the more likely it is that the S/L will not trigger in the event that there is a massive switch in sentiment/price action spontaneously) The ‘reward’ / take profit portion of the trade is placed at the same spot that we placed our last reward spot in the preceding price analysis because it is the next reliable support point that can be identified on the chart.
BITSTAMP:XRPUSDShort
by librehash