Piphunters
Short $NZDUSD opportunity emergingSymmetrical triangle formed on the 15 minute chart. High probability of bearish breakout.
Nice bounce trade setup forming on AUDUSDPrice is Ranging and we can we can
expect a bounce from the Demand Zone.
If Zone holdes
We will time entry to go LONG on 1H
chart after first Heikin closing green.
Target 1: 0.76
Target 2 0.775
Target 3: Weekley trend line
Set stop loss at 0.758.
AUDUSD demand zone crossroad AUDUSD is corrently trading in a nice downtrend, and as piphunters we then look for SHORTS.
But currently price is trading an a close proximity to a string demand zone. So if you are already short you can stay long. But we can not enter short until we see a Norse setup BELOW demand zone.
If price fails to bread demandzone, then we can start considering LONG if we
Short term long if price break 1H trendline
Midterm Long if we get a Norse setup above daily EMA36
Today we spooled our review down to youtube, if you are interested in a more in detail description.
www.youtube.com
GBPAUD, wait for price to bounce of trendlineGBPAUD is a very bullish pair currently, piphunters will wait for price to bounce from trendline and timing entry on 4H or 1H chart depending on volatility.
Daytraders could take this retracement as an opportunity to go short, but piphunters are conservative and we will trade in the direction of the trend :)
If price break daily trend line we must look for short entries!! Using the A-B-C approach
EURGBP Bounce trader with breakout possibility EURGBP have been ranging since Mars, we are currently trading the upper level close to resistance (EMA633 4H/Supply zone)
This is a nice (School book) setup for a bounce back down.
Since we also see a bearish flag there is a good possibility that the pattern will breakout south.
Piphunters will enter SHORT on this trade after close of ONE significant red Heikin candle on the 4H chart.
If you miss this entry you can time or add position on next lower high in 1H chart.
GBPJPY backdown before trend continuationGBPJPY are retracing back down to the daily support line.
You can take this as a counter trend trade and a bounce trade, back DOWN to the daily support area..
When hitting daily support line, we look to long entry according to Norse trading rules (see previous posts).
Be aware of the week double top forming, so we need to keep that in mind if something doesn't go as planned.
Rember:
1)Entry Rules
2)Money Management
3)Position Sizing
4)Exit Rules
5)Having Fun in the chats /forums and even with your IRL friends
Happy pipin'
Continuation on the ever lasting uptrend?NZDCAD has been in a weekly uptrend since its market intruduction, will the trend line be intact?
For restrictive swingers we do NOT look to go long until we break 4H trendline with a Norse style(EMA12/36 cross over and new higher low) confirmation.
Intraday traders can look to enter in smaller time frame (M5-M15) to find Norse Style entries.
Rember:
1)Entry Rules
2)Money Management
3)Position Sizing
4)Exit Rules
5)Having Fun in the chats /forums and even with your IRL friends.
GBPNZD at a decision point break up or bounce backGBPNZD are trading in what i choose to see a bearish expanding channel.
And we are currently at the roof of that channel.
Piphunters are looking to short if we see intraday trendchange with the intention of turning this intraday day trade to a nice(we hope) swing trade. With a target at almost 2000 pips ( in the best of worlds :))
We are looking to short when M10 shows a reversal, Norse style (EMA12/36 crossover and a new lower high)
We are entering 3*lotsize with SL at previous support level +5-10 pips
TP1:Same size as SL
TP2:2*SL
TP3: keep as a swing.
We could add position when we see a 4H trend change (also Norse style)
That is The Hunters view of this trade.
Happy pipin'
Rookie logicSaw a similar image somewhere, so I tried to mimic it :)
Anyway this is pretty much my logic when I started trading 15 years ago.
Any one recognizing them self :)
Bounce trade EURCAD ~300Pips targetPrice has broken upper daily trend line and the 4H lower trend line seems to be intact.
Entries can be timed on the 4H chart or the 1H chart.
we missed the 1H sweet spot, but Piphunters will enter long at close at current 4H candle, IF it is a bullish candle of considerable size.
Long:
SL @ previous candle low (~1.3430) TP1:85 TP2:170Pips. Last lot leave as a runner r TP3:300 Pips. and don't forget to move SL to entry price!
Forexpower confirmes a long buy
Still a few pips downside on the EURUSD We can expect more downside on the EURUSD before we can start thinking on going LONG.
We can expect a retrace to 4H trend line, but price has do drop to at least the demand zone seen in the 4H chart.
Technically if we get a daily confirmation(new higher low) it looks as if EU is change trend.
But fundamentally nothing is clear when it comes to the Euro, Greece and Mario always seems to make things complicated.
GBPCAD hitting channel bottom on 4H and 1H in a strong W uptrendWhile trading in a strong uptrend price now hits 4H and 1H trend channel bottom and look very interesting to take as a bounce trade.
We will be looking for a nice confirmation candle to enter LONG.
Piphunters are looking for a major EB as an entry signal @ ~1.9035/1.9040 with a stop loss at 1.8970 (below 4H 36 EMA)
Forexpower in this pair is GBP:-1 and CAD:1. Not saying much for this pair
Short term SHORTAccording to our forexpower calculation We should be looking to shor EURUSD in the short term.
Currently the EU is at a descition point eaither to break down och bounce up and then backdown.
watch price closely if it breaks the Demand zone(green) then we could have continuation on the friday south movement.
But beeing Monday and most major EURO banks beeing closed, a bounce back up to the supply zone is also very possible, we have to watch and see. But I expect very low volatility on Monday EURO session.
I'm waiting for one of the two setups described above to go SHORT.
Forexpower Week 22 (May 25-May29) SHORT:EURUSDLast week was a killer week for USD and EUR, Where USD was killer strong and EUR was weak toward ALL other currencies. My Forepower algorithm (described earlier) gives us this as a winner pair.
So the week to come use your favorite setup and go short term: SHORT on EURUSD
Badly formated currency matrix.
EUR USD GBP JPY CAD AUD NZD CHF TOTAL
EUR -1 -1 -1 -1 -1 -1 -1 -7
USD 1 1 1 1 1 1 1 7
GBP 1 -1 -1 -1 1 -1 1 -1
JPY 1 -1 1 1 1 -1 1 3
CAD 1 -1 1 -1 1 -1 1 1
AUD 1 -1 -1 -1 -1 -1 0 -4
NZD 1 -1 1 1 1 1 1 5
CHF 1 -1 -1 -1 -1 0 -1 -4
One other pair I will keep an extra eye on this week is AUDNZD and looking for short there as well
More downside on the GBPUSD to come.More downdise before we can see some reversal on the GBPUSD pair, since we just passed Demand zone on both weekly and daily.
On weekly we broke DZ @ ~1.50, and then broke daily DZ @ ~1.48.
Enter short at retracement on H4 SupplyZone (1.4675-1.4700) Try to time entry on H1 (or M30)
Target on this trade is ~1.40. But i recommend to take 2/3 of your lots if we hit next DZ @ ~1.4450
AUDNZD short at trend top/EMA36 in the supply zone!Wait for price to hit upper trend line/EMA36 in the supply zone. And enter SHORT. Time entry on H4 and H1
This i due to happen in end of week 16.
Wait for GJ to reverse and go north in weekly channelWait fore price to go down to B andthen go long at the corrective wave B. This wave looks to be the begning of the new uptrend in the major channel.
Enter LONG at 4h retracement in DZ close to regression channel @ B. Add lot at first (and mabye second) ROSS hook confirmation pattern (1-2-3 wave).
Set first target to Regression Line center, Set second target to channel top.
Final move down to DZ? Before weekly correction?Major divergence going on MACD this is an indication that we have a dead trend. As I see it the DZ @0.7465 is the start of the new trend. This new trend seems to be a corrective wave on weekly chart.
Strategy on this trade:
Aggressive:
Place one BUY and on SELL order at reversal going on right now (check H1 for reversal pattern). Sell the long position at new reversal(~0.7693) Keep the short position run until target @ 0.7450
Moderate:
Go short after reversal @ ~0.7693 set target for 0.7450
ModerateLow:
Go short after reversal @ ~0.7693. sell 2/3 of postion on 0.7650, set target for 0.7450 for remaining 1/3.
