AUDJPY SELL IDEAAs we get a rising wedge formation and a double top formation, it should be cool to go short on this pair.
Priceactionstrategy
USDCHF SHORT IDEAAs price broke out of the rising channel, it should be cool going short on this pair.
USDCAD: TO 1.45000!USDCAD: broke below 1.39750 key psychological and snapped back above support (fake out). Price managed to close off a strong daily candlestick which engulfed six days of daily price action (notice the size of the daily engulfing).
Scaling down to the 4hr time frame we can see price ranging between 1.39500-1.45000. Also notice how price broke above this down trend and is on the way to retest support, the trendline, 61.8% fib retracement, and 1.39750 quarterly psychological zone. If price shows any signs of rejection or manages to maintain above this zone, then look to buy USDCAD to 1.45000 key psychological zone. However, if we violate this zone then we must reevaluate price action. Due to uncertainty of market fluidity, risk management is highly recommended.
USDJPY: Longs To 109.000!Daily Time Frame: We can see price creating a double bottom formation at 107.000 key psychological support. Also notice on the second bounce how price created a morning star reversal formation.
Scaling down to the 4hr time frame, we can see that this market has been ranging between 107.000-109.000 key psychological. If price comes down one more time to 107.000 support and show some signs of rejection, then we can look to buy this up to 109.000 resistance. However, if price violates this support and close below, we must reevaluate price action. Due to uncertainty of market fluidity, risk management is highly recommended.
CABLE WEEKLY POSSIBILITIES.FX:GBPUSD
If Cable gets to 1.25 it might fall and retest 1.19 before a possible upside to 1.30.
300+ pips short on GBPUSDLast week the pound has been consolidating against the greenback until the breakout of friday as economical news made the dollar gain which led the breakout.
Long on EURGBPAs today we got rejection on 0.87528 to 0.87401 zone, Clear double bottom and bullish momentum started.
CABLE PROBABILITIES/PREDICTIONSPrice needs to get to 1.99 before we can have a clear prediction because a rising wedge calls for a possible fall to 1.88 before a long positions are considered.
Would you go long, short or no trade on this chart? (Nov. 26, 2018)
This is a good opportunity to practice your price action skills. Before moving the chart forward, answer the following questions:
1. Would you go long, short, or no trade...right now on the chart above?
2. Reasons for trading or not trading?
3. If you would trade, call out your stop loss and take profit.
Then scroll the chart forward to see how you would have done! Leave your results below...
Would You Go Long, Short or No Trade on $AUDUSD Here? (Oct. 5 2017, Daily)
This is good practice to recognize price action setups. If you would trade this chart, before you hit the play button on this chart, leave a comment below and let me know:
1. Why would you go long or short?
2. Where would you place your stop loss?
3. Where would you place your take profit?
If you wouldn't trade this chart, then simply say "no trade."
Then hit play to see how your trade would have worked out. If you like these exercises, let me know and I'll create more.
GOLDTrade setup for Gold in the 15 min timeframe. Price is expected to fall prior to the long term price dip. Large time frame showing a clear double top chart pattern.
USDCAD 8 MARCH 2020, THE BEST OPPORTUNITY TO LONG TERM SELLAs you see on the chart, the price will make an ascending channel on 1 hour, but on daily perspective its been on the top of structure.
EURJPY TRADEActually forgot to post this trade.
But it was a winner, great trade. Lets see how long this winner streak lasts... this is the point of having a good R:R 2:1 or 3:1 ... even at a 50% winning strategy. You can Still make $$ money..... just do the math 5 winners - 5 losers you are 50% winning percentage, but you are still profitable. Think about it....
Buyer attempting 2nd breakthroughFX:USDJPY ; Seller likely waiting to enter trade once buyer breakthrough and cannot sustain price level.
NAS WILL TEST US POSSIBILITY: AS MARKET IS STILL BULLISH ON DAILY AND WEEKLY AND EVEN MONTHLY MARKET MUST BREAK AND RESPECT 8580 TO GO LONG TILL T1: 8625 T2: 8665
PROBABILITY: TO FORM A PERFECT AND RESPECTFUL H&S ON H2 H1 WE WILL WAIT FOR IT TO RETEST ON 8580 THEN BREAK AND CLOSE BELOW 8560 THEN WE GO SHORT TILL T1: 8520 T2: 8430
*SO ALL WE HAVE TO DO NOW IS WAIT FOR MARKET TO GIVE US OPPORTUNITY ITSELF RATHER THEN BEING AGGRESSIVE TOWARDS IT*
