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Forex-currency

EUR/CAD Ichimoku Edge to Edge TradeI have started using Ichimoku along with Heiken Ashi Candles to get a sense of the trend. I will be using the fractals and just below the kijun as stop losses. In this strategy, the cloud and price relative to the cloud give the big picture of the trend and the Tenkan and Kijun lines are a picture of trend in the moment. I am not totally sure whether to involve the Chinkou span in my trading strategy yet so I am doing some research on it to find the success rate of using it vs not. The Chinkou Span gives insight on price compared with somewhat recent price (30 periods in my case). The edge to edge trade is essentially playing a possibly ranging market where no clear trend is defined. For me to enter the trade I need to see a bullish TK cross and a green candle close inside the cloud. In this instance the CHinkou Span is also above price which is an added bonus bullish sign. The target is the box at the top of the cloud and the SL is at the fractal level circled. I will manually exit this trade if there is a gold candle close or if price closes below the kijun.
Long
by schuck15
EUR/USD Trade Opportunity Spotted 7-2-18Hello Friends, as we can see, the Euro has recently halted its decline relative to the dollar at the 0.5 retrace from long-term support and is building a small descending triangle at this important support level. As always, it is impossible to know for sure which way price will move when it resumes trending, however, this is a descending triangle in a downtrend at a crucial support level. Plus a Bloomberg TV speaker declared today that there is the potential for a shakeout since players are still net long the Euro. It seems to me, therefore, that potential for an explosive move is on the downside. However, a break upwards is always possible especially as the dollar appears to be topping out. Such an upwards break, however, may be suspect and I would trade this more as a short-term move due to the potential for the formation of a right shoulder, which if completed would indicate a head and shoulders pattern which would, once again, put us on downside alert.
by Ian_Carsen
GBP/USD Currency Pair Chart 5/10 1. Bounce momentum likely to go from here as Pound is coming from Currency Dip completion of 1.34960. 2. Price action is continually confirming the value of the intermediate-term Mean Resistance $1.37630. 3. The violation of the intermediate-term Currency Dip will undoubtedly bring serious of the short-term bearish implications, having downside targets to next Currency Dip $1.31910, while Key Support of $1.30540 lays directly underneath. 4. Current bullish/bearish bias is 60/40
Long
by TradingSig
GBPJPY -- 200 down, 400 to go!We saw the reversal at the 150 handle, as projected before and during the FED and BoE rate releases. We're down 200 pips...the projection is to 144 so we have another 400 pip decline ahead of us. That said, will be looking for were to jump in (or add) to current shorts. Based on Friday's close, the only areas at the moment where I'm looking for a pivot and continuation down is at 149.20 and back at the 150 area (yellow boxed zones). I did mark the 146 level as an area, pending price action, that would cause me to shift short term to a BUYing bias and to re-evaluate new levels for shorting once again. Will update during the week...
Short
by ProSTrades
Euro/USD ready to head southThe pair formed a clear double top at the 1.25 area. Look for the continuation of the move south to the 1.22 area. If price breaks that area look for a play towards the trendline. Zoom in on price action to see the double top more clearly. Always have a plan. Idea becomes invalid if price breaks north above the 1.255 area and holds. Remember always make your own choices and do your own due diligence when it comes to trading. No one can protect your money better than you. Good luck Traders.
by YourForexMan
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