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AUDJPY Strong Trend Reversal Pattern.AUDJPY has given a good rally from its bottom and now it has given a good breakout from its rising wedge pattern, towards the downside. It has formed a complete head and shoulder pattern at the top, which is an indication of a trend reversal signal so, we might see a longer-term trend will be a downside. Target 1 is on the downside for AUDJPY will be supporting 1, at this point, it might be consolidated for now and then move for target 2, which is support 2 at the downside. IF You Like Idea Do Follow/Comment/Like For More Quick Update As Time Is Money. Note - Trade With Proper Risk Management System. Thanks.
Short
by Fx_Trader_ViSa
RISK 1:13 REWARD!!! NZDCHF LONGRISK 1:13 REWARD!!! What is my entry criteria for a NZDCHF LONG? Reason: Met my rules to confirm a Bullish Trend. This is my final chance entry to get long on this pair, with a high Reward to Risk this may not play out but overall it is a profitable strategy that I will continue to implement. Confluence: RSI We are not quite oversold on the daily as we are at 21 so its still low Major level of now structure and support, looking left we can see multiple tests Bullish Divergence on the 240 chart Entry: Double Bottom completion on the 60 chart Stops: Tight ATR below the low previous test, as we could just blow right through this stop and continue lower and breach my bullish trend rules (Hence the final chance entry) Targets: Target 1: High of the previous close Target 2: Depending how we get to target 1 if we get to target 1, I will either trail based on structure if there is enough volume and momentum or cut the trade. Long way to go before this happens – if this happens As always good luck in the markets, TradeEasy.
Long
by TradeEasy_Today
What is my entry criteria for a AUDUSD LONG?What is my entry criteria for a AUDUSD LONG? Reason: We have broken previous structure indicating a possible reversal in the bearish trend We have already completed a three point move that broke the previous bearish structure. This is my final entry for going long on this pair hence the tight stop as it is possible we could be in a complex pull back and continue lower Confluence: (Use callout on the fave tool bar to make note and point) RSI is not currently oversold but is hovering around 27 Double bottom was my entry for the long 10EMA is above the 50 on the daily Entry: Market order Stops: 1 ATR below the low of the double bottom Giving us a nice risk reward of 2.8 Targets: Target 1: H4 Highest candle close Target 2: Trail based on structure if we continue higher As always good luck in the markets, TradeEasy.
Long
by TradeEasy_Today
Why am I looking to trade NZDCHF LONG?Why am I looking to trade NZDCHF LONG? Reason: We have an extreme peirce candle outside of the Bollinger band. Looking left on the daily chart we are in a solid area of support and resistance (blue and red boxes) price has respected these areas before. Some traders may consider the Bollinger break candle on the 60 min chart as a valid double bottom reversal Entry: 5 pips buy stop above the current pin bar Stops: 5 pips below the previous extreme candle Targets: Target 1: 1:1 – 0.6544 Target 2: 4 pips below daily high As always good luck in the markets, TradeEasy.
Long
by TradeEasy_Today
What is my entry criteria for a GBPJPY LONG?What is my entry criteria for a GBPJPY LONG? My Reason: A possible Cypher patter is setting up. However, we are currently 70ish pips from an aggressive completion. Entry: Aggressive D completion 136.922 Stops: Below X swing Inverted 141 Fib Targets: Target 1: 382 Fib Target 2: 618 Fib Other ways to get involved A more conservative entry could be to wait for price action to come near our D completion and wait for a Double bottom or other reversal sign, 3 bar reversal with oversold. As always good luck in the markets, TradeEasy.
Long
by TradeEasy_Today
2
EURUSD Long Idea!My first consideration to long is that the RSI level is at the bottom and unclear DMI but with blue line on the low. Then I see it looks like a H&S pattern, but it's not i think. As the support level holds after we have a short term double top price action with higher high, my tendency towards bullish is bigger than bearish. For those who scalping you got 33.8 points to get percentage @ 0.30% from the current level and for kinda swing trade, I will let it open till it achieve 363.7 point or 3.19% from the current level @1.17531 price. Stop loss if it breaks the red line @ 1.13015
Long
by blockchaindedi
EURJPY reversing strongly below area of resistanceWe’re seeing major resistance below 132.85 (Multiple 50% Fibonacci retracements, horizontal overlap resistance, bearish price action) and a strong reaction could occur at this level. Our next major level of resistance is at 133.21 (61.8% Fibonacci retracement, horizontal pullback resistance) and our next major level of support is at 132.05 (swing low support) before 131.73 (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is reversing nicely below 96% resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
NZDUSD profit target reached again, prepare to sell once againSell below 0.7292. Stop loss at 0.7314. Take profit at 0.7244. Reason for the trading strategy (technically): Price has reached our profit target yesterday and bounced up nicely. We prepare to sell once again below major resistance at 0.7292 (Fibonacci extension, horizontal resistance, Fibonacci retracement, channel resistance) for a push down to at least 0.7244 support (Fibonacci extension, horizontal swing low support, channel support). Stochastic (34,5,3) is seeing strong resistance below 93% where we expect a drop from.
Short
by MEX_Exchange
EURUSD right on major resistance, time to sellSell below 1.1425. Stop loss at 1.1450. Take profit at 1.1369. Reason for the trading strategy (technically): We look to sell below major resistance at 1.1425 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance) for a push down to at least 1.1369 support (Fibonacci retracement, horizontal pullback support, Elliott wave theory). Stochastic (34,5,3) is seeing major resistance below 96% where we expect a drop from. Traders Dynamic Index is making a bearish crossover signalling that a reversal is in motion and we can expect a drop from here. Correlation analysis: EURUSD and USDCHF are strongly negatively correlated. Hence it is good that we expect a bounce on USDCHF and a drop on EURUSD as this shows that they are moving in tandem.
Short
by MEX_Exchange
USDCAD bouncing nicely, remain bullishBuy above 1.3221. Stop loss at 1.3154. Take profit at 1.3387. Reason for the trading strategy (technically): Price has bounced off nicely from our buying area yesterday. We remain bullish above 1.3221 support (horizontal swing low support, horizontal overlap support, fake bearish breakout) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (89,5,3) is seeing strong support above 0.18% where we’re starting to see a nice bounce up from.
Long
by MEX_Exchange
AUDJPY dropping perfectly towards profit target, remain bearishSell below 84.70. Stop loss at 85.71. Take profit at 83.90. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and is fast approaching our profit target. We remain bearish below 84.70 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 83.90 support (Fibonacci retracement, horizontal pullback support). Stochastic (89,5,3) is seeing strong resistance below 90% where we expect a further drop from.
Short
by MEX_Exchange