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GBPUSD - will the pair hit 1.3300?Hey traders! Happy Saturday to everyone! Hope you are doing well! Let's remind our last week especially on GU. Zone 1.3000-1.3025 was very strong for me. My main target was pretty far and price didn't get that region. Anyway we were 2% profit (trailing stop) and I am happy with that. What do we have now? Our main support/resistance region was broken, and correction was already retested it. On the 4H timeframe I also see the inverse H&S pattern and the price is telling me that the uptrend should continue. Anyway when the market will open - we will react! Hope the price will get to 1.3300 region
Long
by Infinity_Limits_Trade
NZDCHF Daily S/R|Impulse Sell|Support Zone|Oversold Bounce| PAEvening Traders, Today’s Second Analysis – NZDCHF- breaking below Daily S/R with an impulse, an oversold bounce is probable. Points to consider, - Price Action Bearish - Supply Zone Target - Daily S/R Resistance - Oscillators Extended - Declining Volume NZDCHF’s immediate price action is bearish breaking key daily level; this allows us to have a bearish bias on the market. The initial target is the supply zone; a bounce here is probable as the base of the bullish engulfing resides in confluence. The Daily S/R is crucial resistance; a back test will confirm a bearish retest of the level. Both oscillators are approaching oversold conditions; this increases the probability of an oversold bounce. A volume influx will coincide with this as current volume is low. Overall, in my opinion, NZDCHF is a valid long with defined risk; price action is to be used upon discretion/ management of trade. Hope this analysis helps Thank you for following my work! And remember, “Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it's all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it's a mistake.” ― Yvan Byeajee
Long
by AzizKhanZamani
EURJPY - Sell now validEURJPY- sell position now valid. The entry price, SL and multiple TPs are shown on the chart. Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter. What is our strategy? Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term. The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc. This could be on your phone trading view app, or laptop of course. The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy... What does this mean? It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management. The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow. We just have to do what Percy does. Please see our related ideas below for more information to explain what we do and how it can help you.
Short
by pow_removetheguesswork
6
EURGBP Bearish Retest|Weekly S/R|Low Volume|Oscillators ExtendedEvening Traders, Today’s analysis – EURGBP respecting its .618 Fibonacci leading into an impulse move, price action is currently testing weekly S/R where a rejection is probable. Points to consider, - Macro trend range deviation - Bearish Retest (Weekly S/R) - Local S/R (immediate support) - Oscillators extended - Volume below average EURGBP has had a previous impulse that leads to a range deviation thus any back tests are considered a bearish retest. This allows us to have a bearish bias on the market. The Local S/R is the immediate support, holding this level will confirm an S/R Flip retest. Both oscillators are trading in overextended regions, this is indicative of the market getting overbought and that a reversion to the mean is probable. The volume profile is currently below average, it’s important to note that price rising on declining volume in usually bearish. Overall, in my opinion, EURGBP is a valid short with risk defined below weekly S/R. Price action is to be used upon management/ discretion of trade. Thank you for following my work! And remember, “Hope is bogus emotion that only costs you money.” – Jim Cramer
Short
by AzizKhanZamani
Bearish in USDCAD?Hey traders, perfect setup for me on USDCAD. On all timeframes we can see beautiful pressure from Bears on this currency. On 4H timeframe we got double top pattern, and from that point we see beautiful impulse to the downside! Right now we got a flat flag (continuation pattern) and nice support level on 1H timeframe. Actually we already broke that level so waiting for a pullback, and gonna try to open the order! So my target on this one 1.3000! What do you think...?
Short
by Infinity_Limits_Trade
EURUSD| Weekly S/R| RSI Wedge| Increasing Volume Evening Traders, Today’s analysis – EURUSD – impulsive break of weekly S/R, a retest will allow for a valid long. Points to consider, - Impulse bull move - Weekly S/R support confluence (200 WMA) - Local resistance holding - RSI wedge - Volume declining Price decisively broke weekly S/R, a bullish retest will solidify the level. This allows us to have a bullish bias on the market. Weekly S/R has technical confluence with the 200 WMA, this level has a high probability of holding true once the retest comes to fruition. Price action is currently respecting local resistance as the RSI wedges. A break down from this wedge will coincide with price retracing. The volume profile is noticeably increasing, must sustain for further upside momentum to be had. Overall, in my opinion, EURUSD is likely to retrace for a retest. This will allow for a risk defined long. Price action is to be used upon discretion/ management of trade. What are your thoughts? Thank you for following my work! And remember, “Trading effectively is about assessing probabilities, not certainties.” ― Yvan Byeajee
Long
by AzizKhanZamani
GBPUSD Buy!GBPUSD Entry price is shown @ 1.31175 SL @ 1.30901 (27 PIPS) TP @ 1.31725 (54 PIPS) GBPUSD M30 timeframe buy, as you can see from the strategy profitability settings at the foot of this idea - this is a great edge on GU M30. These are specific settings with a fixed 1:2 risk to reward that we have identified using our strategy. What does this mean? Well it means, for every 1% risk we aim for 2% reward.... Enter the trade with SL and TP and just let it play.
Long
by pow_removetheguesswork
COVID Long CZK/GBP: Long-Term Strength of Koruna, TA for EntryThe Czech Republic is poised to strengthen against the British Pound for the following reasons. The Czech Republic is uniquely positioned to recover better than the United Kingdom as an advanced manufacturing-oriented country, predominately producing cars, trains and engineering equipment. Following the one-time shock effect of the COVID-induced public health and ensued economic crisis, despite short-term decreases in the demand of personal automobiles, production of vehicles will be relatively intact, although the composition of types of vehicles may differ. Through the ECB's newest stimulus plan, Europe is subsidizing the purchases of new cars, particularly those that are more environmentally-friendly, furthering the effort to become greener. With regard to the outlook for a weaker pound following recent broad-based strengthening, we propose a two-year hold period because then talks for the Scottish quest for independence will rise to the forefront again. Scotland is one of the most valuable components of the United Kingdom and with an average polling of 54% of British citizens wanting to split from the UK, as of now, there is a tilt towards the likelihood of the split. In addition, Mr. Johnson's recent trip is likely to backfire and strengthen the desire to split, and given the Coronavirus pandemic there has been a surge towards the desire for independence, with polls increasing from 49% in March, making this the longest period over which yes votes outnumbered those for a no. Technically, time the trade by going long upon falling back to the resistance level, which we hold to be 0.034223, and holding through the British elections in two years. This resistance level also represents the 38.2% retracement from the last stark uptrend, a technically-significant level given the Fibonacci levels. See the chart for the previous testing, and strengthening, of the resistance. Fundamentally this trade is driven by the likely future increase in external demand following the coronavirus crisis. think.ing.com
Long
by LaurenTrading
NZD CAD Sell 700 Pip Opportunity NZDCAD currently in a downwards channel and top channel is holding. This pair will start to make its way back down towards the bottom of the channel. Entry: Wait for confirmation with a daily bear candle close under the up trend line. Indicators: 1. Pair currently trading in downwards channel acting as resistance. 2. Historically this channel has held so expectation is downwards movement. 2. Weekly RSI overbought bulls are weakening. TP levels at past support/pivot levels. As this pair breaks the trendline, take small profits of 40-50 pip ranges as movement may be slow. Otherwise this is a great trade for long term. Good luck trading! Charles V CVFX Management Trading made simple.
Short
by cvfxwealth
1
AUDCAD Sell +150 to 500 Pip Opportunity AUDCAD is overbought and looking for a large downward movement. Short-term we are looking at 150 Pips to the downside Long-term we are looking at 300 to 500 pips Indicators: Look left rule- If you look at history, the current area where this currency has been a strong pivotal point, dating a few years. This is now acting as Resistance. Daily and Weekly time frames are overbought (Larger time frames dictate main direction) Conditions to Enter: Close of daily candlestick under the current up trend line, this will confirm a break to the downside. Entry: 1. Bear candle close under up trendline 2. Retest of up trend line on the backside. TP1 at next support TP2 at main weekly support SL if prior high is broken Good luck trading! Charles V CVFX Management Trading made simple
Short
by cvfxwealth
EURAUD Buy Update 900 Pip OpportunityTrade currently up 75 pips from last week's entry. Today just closed with a very strong bull candlestick, confirmation of upwards movement. Indicators Recap: 1. Currently at bottom of weekly channel acting as support. 2. Stochastic RSI weekly and daily oversold and in the buy zone. 3. Upward Trend still dominant. 4. Bull candlestick close end of day 07/13/2020. Additional Entry or if you missed first entry: 1. Wait for short retrace on 2hr or 4hr time frame around 1.6300 Next small Resistance at 1.6540 for a TP target. TP 1 and TP 2 remains the same for longer term trade. Good luck trading! Charles V CVFX Management Trading made simple.
Long
by cvfxwealth