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Retest-structure

Possible Retest & Long Position - GBPCHF - 7.68% R:R Hi All! Hope you're keeping well and having a great weekend! Just wanted to share a personal analysis I've made on GBPCHF! Please feel free to comment below any questions you may have! With GBPCHF, I would personally like to see some movement to the downside towards the marked 4hr structure, to retest it as a support for price then to move back and follow the price trend to the upside. As you may not know, the Bank of England has a speech tomorrow which will greatly affect the pound - if the speech is 'hawkish' then we could see some strength for GBP which will support this long position. You may notice that the fib retracement isn't on the highest wick, which is something I've personally done because I feel that maybe the last two candles on Friday could be very sketchy to work off, especially towards the market close. By doing this though it's lining up perfectly with the structure, and would be nice to get a long from that position. We're also above the 40EMA which I personally work with on minor pairs which will support this - also this could count towards a touch on the ascending trendline (subjective) which could also show support. I have chosen to have my stoploss at 20pips + 3pips for spreads, and I will be risking 1% of my capital for this trade. Confluences: Trendline Structure 40EMA Fib Retracement Conformation "Pending" 😉 Obviously please do your own analysis, so please don't take this as gospel and please ensure that you use the correct risk management for this trade. Let me know your guys thoughts! Cheers Daniel Instagram: @DanielJamesFX Twitter: @DanielJamesFX
Long
by danieljamesfx
3
EURJPY 120.703 - 0.55% LONG IDEAGood Day Everyone Here's an idea on the EURJPY pair, we just broke above the descending channel overbought on multiple indicators which may signal a correction or retest of the structure then continuation to the upside. looking for long entries on the pair should everything be satisfied. _____________________________________________________________________________________________________________________ RISK-MANAGEMENT ENTRY & SL - FOLLOW YOUR RULES PERIOD - DAY TRADE TARGET1 - 121.098 TARGET2 - 122.098 ________________________________________________________________________________________________________________________ If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section. APPRECIATE IT
Long
by PULEMokhothu
EURUSD SHORTS FROM FRIDAY's HIGH' Good Evening Wzr. ahh...People! After the Setup from today morning failed and we retested the Friday High's on EURUSD i think we will get the best entry now possible. Market retested the High which is also between the 61.8% and the 71.5% FIB REGION which i really prefer. Stops are 15 Pips above the 72% fib level. Risk reward 1:3 Thanks for reading. just educational purpose, no advise. in love, tradingpurpose. Go EU, i want that datejust.
Short
by Forexbasis
POSSIBLE LONG OPPORTUNITY Hello traders! Just an update on this pair. We shorted the market from the previous idea and all targets were satisfied. We now see a re-entry to this downward channel and we know that this pair has been in a strong trend upward. This is why we believe we can see a rally to previous structure as the retest already happened. But can we get a chance for another long position entry? If we get a retest at 73.350 we could see a bullish reaction to 74.000-74.500. Monitor for trading opportunities. This is an idea not a signal, shared for educational purposes. Trade smart don’t gamble. -Rum
Long
by PipTips