Get started

Forextradingzones

GBPNZD short trade on the move ↘️✅📉Hello traders. Before I logged off for the day I just had to get this idea out for GBPNZD short trade which has made the right move so far. This pair got me an editors pick on a previous idea and as a results holds good vibes for me. That idea can be found in the link at the bottom of this. We are working the 45M chart here using our strategy is set to a 1:1.7 risk reward ratio. The strategy in use simply sits in your TradingView and can be set to how you want to trade. The strategy is a trend follow strategy and we simply enter trades when they are alerted to us. In this case I am working to a take profit target of 113 pips and have a stop loss set at 60 pips. How do I know this method of trading employed works on the pair in question? The strategy we use comes complete with a built in back tester. The way I have the strategy set up to trade this pair I know from the back test data the pairs past performance trading in this manner. That data can be found at the foot of this idea. Data is based on £2000 starting capital with 2% risked. The data tested is a full years worth of data but can go back further. Having the data of 83% profit and 48% win rate based on 86 previous trades gives me great confidence to go and execute trades in the market place using the strategy I have applied. I don't recommend jumping on random trades found on TradingView as that is no clear trading plan and consistent results wont be achieved. Instead take the time to press the sub menus on the data show below and noticed how every trade is also logged and accounted for by the tester. It's this level of clarity and having a robust trading plan that gives consistent results. For any more information on the strategy in use please feel free to drop me a message.
Short
by RichScott
Game Plan #forexThe Chart: price has entered back into the weekly range into the near term support area. As long as price stays above 0.7080 the trend is still to the upside. Below that level the low end of the range (0.7000) will be in play. The Narrative: The stimulus plan has been outlined and recent inflation numbers and retail sales have been announced. The short dollar trade is nothing new so there hasn't been much of a reaction to the recent news/data. The FED has been adamant about letting inflation run hot. Unless there is a more risk off tone to the equity market, we have to assume the downtrend in the dollar will continue even if it is sideways in the days and weeks to come.
by IngenuityTrading
2
Game Plan #forexEUR/GBP has been in a range for months now but is starting to show some weakness on a near term basis. If we can close below the weekly range low the 0.8932 area and remain below the downtrend line then the next stop should be the lows from November 0.8850. Given all the headline news about COVID and the UK it would appear to be negative for the currency but price is telling a different story for now. We have also seen a pick in the rate of change to the downside which may also be a sign of more selling to come. If we clear the downtrend line to the upside then the short play would be invalidated.
Short
by IngenuityTrading
2
LONG OPPORTUNITY IN AUD/USDReasons- 1) Weekly & Daily trend is bullish as per 200 ema & Ichimoku cloud. 2) Price continuously making higher highs and higher lows on daily. 3) Previous resistance acting as support shows the conviction of the market participants. 4) Bullish divergence on 15 minutes (rsi). 5) Liquidity/stop gunt took place on H1 timeframe signalling that institutions and banks are also entering. 6) Possible reward much higher than the risk taken. Kindly trade at your own risk. Good Luck ^_^
Long
by noobieYETpro
5
LONG OPPORTUNITY IN AUD/JPYReasons- 1) Weekly & daily trend is up as per 200 ema and ichimoku cloud. 2) Inverse head & shoulders decisively changed the market structure from lower low to higher lows and highs. 3) On faster timeframes, price taking support on previous resistance actint as support showing conviction of the market participants. 4) Successful break & restest of trendline on H4. 5) Buying with small risk and big profit potential. Kindly trade at your own risk. Good Luck 😃
Long
by noobieYETpro
1
LONG OPPORTUNITY IN USD/CHFReasons- 1) Recent downside breakout making the noob traders open short positions. 2) Bank likely to book profits there and creating huge demand. 3) Stop losses of the bears getting triggered will also fuel the rally. 4) Monthly support is far important than daily support. 5) Buying long near the lower Bollinger band itself brings more odds in our favour 6) Bullish divergence on weekly (rsi) 7) Small stop loss and big reward capacity trade. Kindly trade at your own risk. Good Luck ^_^
Long
by noobieYETpro
USDCAD Descending Triangle - Long PositionUSDCAD Long Position Entry: $1.26671 TP & RR: $1.27938 (2.25) Stop Loss: $1.26107 REASONS FOR THE TRADE Clear descending triangle with an increase in buying volume. Not much to say here, it is either going to go up in an explosive move or it will completely break down. I don't feel confident opening a short though. My long is very conservative with a Stop Loss below the recent low. The RR is somewhat decent, but I would definitely not rush to close my position once we are out of the triangle.
Long
by Quant_