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GBP/AUD September Open Price Targeting 1.79100Hello Fellow Trader! Daily chart providing signals the September 3.5% rise since 11th of September has now met with the open price of the month forming extremely potent resistance. Provides a great reward to risk ratio to trade GBP/AUD for short – term downside. Key Points: - Daily – Price moving into resistance and September open price 1.18235 - Daily – Above 50 EMA – Watch for close below for first session. - Daily – Below 200 EMA - Price holding above the 200 EMA – 1.2% gap between price and 200 EMA - Price holding above the 50 EMA - Price at September open - Ending diagonal? - 61.8% Fibonacci for prior range - Divergence between RSI lower high and price higher high. Key Levels: Support - 1.80265, 50 EMA, 1.79100, 200 EMA Resistance – 1.81665, 1.81800 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 1.81350 Supporting Entry – 1.81150 Candle Reversals for entry - Bearish Shooting Star - Bearish Engulfing - Bearish Dark Cloud Cover The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks above 1.81825 level – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 1.81350 – Target 1 1.80265 = 2.2x Reward to Risk Optimal Entry 1.81350 – Target 2 1.79100 = 4.7x Reward to Risk Supporting Entry 1.81150 – Target 1 1.80265 = 1.2x Reward to Risk Supporting Entry 1.81150 – Target 2 1.79100 = 3x eward to Risk
Short
by tradetheday
1
CHF/JPY At Key Daily Support For UpsideHello Fellow Trader! CHF/JPY has made 114.000 a potent level for change in price behavior. It also collides with the 33 RSI band which since August has been the true oversold support level. The base of a wedge provides us defined entry focus and stop levels we can hawk and enter at a a superior reward to risk ratio. IF: CHF/JPY fails 114.000, the next support level on daily would be the 200 EMA. Key Points: - Daily – 33 RSI level seems extremely sensitive at any major drops. Indicates oversold region for CHF/JPY - Daily – 114.000 - 1 Hour - Price holding below the 200 EMA - Caution - 1 Hour - Price hugging below the 50 EMA – Watch to reclaim above - 61.8% Fibonacci support at current price using last major impulse. - Crossed 4 - Hour trend line - At wedge base – Wait for BULLISH CANDLE REVERSAL! Key Levels: Support – 114.000. 113.700 Resistance – 200 EMA, 115.150, 115.730 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – Base of wedge – 114.000 Supporting Entry – Break of wedge – 114.25 Candle Reversals for entry - Bullish Hammer - Bullish Engulfing - Bullish Piercing The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 113.68 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 114.000 – Target 1 115.150 = 3.6x Reward to Risk Optimal Entry 114.000 – Target 2 115.730 = 5.4x Reward to Risk Supporting Entry 114.25 – Target 1 115.150 = 1.6x Reward to Risk Supporting Entry 114.25 – Target 2 115.730 = 2.6x Reward to Risk
Long
by tradetheday
Intraday trading opportunities using liquidity gapsLiquidity gaps (price spikes) occur on the charts all the time and it doesn't matter what time frame you're looking at as you will find them everywhere. Now, not all liquidity gaps fill but depending on the market environment you're in, you can use these liquidity gaps to your favour to help discern where the market could go next sometimes with higher probability. What you have when you see a sharp spike in price are inefficient moves created in a direction where there is usually thinner liquidity present which is the reason for such a sharp drive in the first place, so when price starts to slow down after the move and show signs of weakness we can look for any topping or bottoming structures/patterns that may lead to price starting to fill the gap back to the original point where price took off from. As price starts to move back to the original position there is increased probability for price to fill the original drive higher or lower as there is not a lot of volume/transactions present in the price action to halt the move coming back towards the origin with great effect. Also, If price does fill back to the origin then there is a good chance that we could also see a bounce at this level again as this is where most of the order flow ignited the original spike higher/lower and additional volume could be present to help protect the original move. As you can see from the chart, we have shown 2 intraday moves on AUDUSD to show this natural movement in price that occurs very frequently both in a long and short example.
Education
by DavidVillagra
2
EURUSD Convergence sell for a higher probability trade set up EURUSD overnight set the stage for a high probability sell on the higher time frames. Although EURUSD has been in a uptrend of late we had a few factors that led us to believe we could see EURUSD move lower. These factors include the following. 1. We were looking at the 1.2000 big figure level for a while as this level in general could be a strong psychological level for price to respect. Also we can feel that there would be a higher buildup of order flow resting at this level which again could increase the probability for price to reject here lower. 2. What really caught our attention was the larger bearish 3 drive pattern that can be seen even on a Daily chart. The more participants in the market that can see the same structure the more the probability can increase for traders to take action when the pattern completes, especially the case when the pattern is seen on your higher time frames. 3. Convergence of factors - In trading, no one knows with 100% certainty where price will go next so as traders we have a responsibility to do our best analysis as possible to increase a potential profitable outcome. In this case both of the 2 factors above occurred at around the same point on the chart so when we saw price start to reject lower this opened the door for a sell. After the pattern completed, we always want to use a lower trend line (in the case for a sell, higher trend line in the case of a buy opportunity) and wait for this to break to the downside as this will help increase the strength of the pattern holding and also give you a precise point on your chart to execute an order. Stop loss can go just above the 3rd drive high.
by DavidVillagra
4
High probability 22R GBPNZD ShortsHello Traders, kindly like this idea if you love it and leave your thoughts in the comment section The Great British Pound/New Zealand Dollar, GBPNZD has hunted stops resting above old highs and broken market structure to the downside. Looking to short at the OB with a tight stop and good risk/reward ratio FOLLOW OUR IDEA UPDATES FOR MORE PRECISE ENTRY TRADES WITH ZERO DRAWDOWN OR I'LL ASK YOUR BROKER TO GIVE YOU A MARGIN CALL :-)
Short
by wallstreetcartel
XAUUSD - patience people...Gold... the one pair everyone loves to trade but probably the one they lose the most money on! Why? because they don't enter in the right place. This is our look on it. 1901.006 is a very interesting level we are about to reach.. if we reach it. It was our last daily strong level before it dropped. Now we could see price push to here and when it does we will look to sell it off this level (arrows to show) However, we can see on the stochastic that price is looking like it is running out of steam. In the instance that the Dollar starts to gain some strength we will wait for the break and then the retest of this bullish trend line and then we will sell. Do not sell on the break as price should come back to test the level before it has it's drop.
OANDA:XAUUSDShort
by True_Forex