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Possible trend shift in USDCAD – going shortThe Tidal Shift Strategy has just sold USDCAD at 1.32045. The system recommends entering this trade at any price between 1.31876 and 1.32214. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at -1.05027, which suggests that the USDCAD could be trending downwards.The 14-period Average True Range on a daily chart is 0.00135, so the stop loss has been set at 1.3272. This stop loss order is a trailing stop that will move down as the market moves down. There is no profit target for this strategy. We expect to be closed by the stop loss.Tidal Shift is a trend trading strategy that aims to catch shifts in trend using trader sentiment as an indicator. The strategy looks to buy when the Speculative Sentiment Index reaches its lowest value for the past 145 trading hours, and looks to short when it reaches its highest value for the past 145 trading hours. Signal ID: 61442 Time Issued: Monday, 28 January 2019 04:00:17 GMT Status: open Entry: 1.31876 - 1.32214 Limit: N/A Stop Loss: 1.32720 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.58% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Short
by FXCM
Morning Technical Newsletter EUR/USDWeekly Gain/Loss: -1.23% Weekly Close: 1.1602 Weekly perspective: Last week candle formed as BEOB – engulfing bar at resistance as it means that on 1.1800 a lot of sellers jump in the short positions. On Monday this week price just ranging from the H4 resistance at 1.1622 to the H4 support at 1.1570. Daily perspective: If we zoom to the daily chart we can see that we have daily BEOB engulfing bar at resistance too, so the trend is really strong and we can expect that price will continue to the downside, as the first target we can have support at 1.1540. If we break below this strong support 1.1540 we can expect fast price fall to the next support level 1.1430. Areas of consideration: For intraday position, we can wait for the triple top retest of H4 resistance 1.1622 and jump in short position with the very small amount of pips to risk. We can look for a short position on the first two resistance mentioned below: Resistance 1: 1.1620 Resistance 2: 1.1700 For the targets we can use the first two supports mentioned below: Support 1: 1.1540 Support 2: 1.1430
Short
by GroundStoneHoldings
GBPCHF Signal: 30min Classic Breakout EntryThe strong gains that took place in GBP were triggered by remarks from EU Barnier. Barnier stated that the EU is willing to offer the UK a trade deal that has not been offered to any country yet. These comments neutralized Theresa May's comments when asked about brexit, saying that 'it will no be the end of the world' which weakened GBP earlier. In GBPCHF 30min chart there has been a 30min breakout as the support (in green) gave way. The strategy would be to wait for a 30min close above the resistance (in green, former support), which may pave the way for further gains, targeting 1.2660. Although the following may be less relevant for GBP but more for CHF, Canada's deadline to reach a trade deal (NAFTA) with the US is tomorrow (Friday).
Long
by DDMARKETS
EURUSD approaching strong support, prepare to buyBuy above 1.1712. Stop loss at 1.1633. Take profit at 1.1811. Reason for the trading strategy (technically): Price has been dropping strongly from last week. We look to buy above major support at 1.1712 (Fibonacci retracement, horizontal swing low support, Fibonacci extension area) for a push up to at least 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (55,3,1) is seeing strong support above 1.8% and has good upside potential.
Long
by MEX_Exchange
AUDJPY still on our buying entry, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price continues to test our buying area. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
A SOLID LONG TRADE ON EURCHF CONFIRMED BY ADVANCED PATTERNS!Hello traders,i hope everything is running according to your trading plan. Without time to waste let's see the high propability long trades on EURCHF pair. First of all we can easily see through the daily chart that we are in an uptrend especially when the euro attack started. Lately we can see the Swiss Franc gainning a little room exploiting the recent relief rally that Euro has. TECHNICAL OBSERVATIONS 1.We can see at the daily chart that we have a deep retracement to previous resistance that now is a support. 2.On the daily we have also an RSI indicator approaching 50 level which acted as support level a lot of times at this pair. 3.Now on 1H chart we have two bullish advanced patterns,first one is a bullish Gartley pattern and the second is a bullish Bat pattern. 4.On 1H chart we have RSI on oversold levels ready for a pullback. 5.We have also the Stochastics on oversold levels pointing a possible pullback. 6.We have previous price structure that agrees with the advanced patterns. 7.Price at the daily chart is above 200EMA favoring the long trades. 8.We also have the two bullish advanced patterns completions inside the resistance zone based on previous structure that makes this zone even more significant for a pullback. 9.Second targets (T2) of the two advanced bullish patterns coincide with the 200EMA of the 1H chart which usually acts as a magnet on those timeframes giving us one more confirmation for our trades set-ups. POSSIBLE LONG TRADES BULLISH GARTLEY FORMATION ENTRY PRICE 1.1580 STOP LOSS AT 1.15615 FIRST TARGET T1 AT 1.16070 SECOND TARGET T2 AT 1.16220 BULLISH BAT PATTERN ENTRY PRICE AT 1.15720 STOP LOSS AT 1.15615 FIRST TARGET T1 AT 1.1600 SECOND TARGET T2 AT 1.16180 THANKS FOR THE SUPPORT AND THE POSITIVE FEEDBACK!! KEEP FOLLOWING FOR MORE PROFITS!! HAPPY TRADING GUYS!!
Long
by The_Greek_Trader
USD/NOK viewI suggest that traders short the Norwegian Krone against the USD for the following reasons: /dx has broken out of its ~2yr consolidation pattern amid Trump's fiscal stimulus promises and subsequent repricing of the Fed's hiking cycle in anticipation of higher US growth and inflation. NOK remains highly vulnerable to /cl as >50% of Norway's exports are energy-related (34% = crude petroleum and 25% = petroleum gases). Potential OPEC-inspired oil volatility and vulnerability (if a strong cut, or any cut at all, fails to materalise, which is my personal base case given recent rhetoric from Saudi Arabia; namely words to the effect of, "balancing can occur without cuts") will weigh heavily on NOK, sending this pair much higher. On a more long-term level, oil and gas companies in Norway have drastically cut spending forecasts for 2017, deepening what was already a record reduction in offshore investment. Main risk to the trade is OPEC cutting production significantly (or at least creating that perception to markets). In this case, I would use the opportunity to buy USDNOK at lower levels as any material increase in oil prices (to around $55-$60 on a 'strong cut') will enable US shale producers to "come online" (with lag, of course), aiding supply and sending /cl to near current levels again. It is very difficult to envisage a world in which oil comfortably sustains above $60 under current conditions. A token OPEC cut will not change this, I do not believe. $DB is gunning for 9.05000 by Q2 '17; $GS and $MS also want around 9.00000 with time. I personally look to buy this pair on dips.
Long
by jamiegleave