EURCAD Getting Ready to Break the July Highs😮Hey guys , Ideal on EURCAD is That We are Overall Bullish Starting From the Daily Timeframe Down to the H4 Timeframe Which Price is Now Pulling Back to Level 1.44537 on H4 Timeframe for a Buying Opportunity to Then Target the July High . Drop Your Comments on the Comments Section,
Trade Safe James.❤
Risk_reward
USDCAD ..A Very Big Decline Coming in on USDCADHello guys, My Idea on USDCAD is for a Big Push to the Downside , Which from the Daily Timeframe Down to the H4 Timeframe we are Overall Bearish and Which the H4 has Currently Switched Bearish and We are Expecting the Continuation Trend to the Downside for a Good Selling Opportunity from Level 1.36110 . Like and Drop your Comments ❤
Looking to Sell NZDCHF from here!!!Hello Friends, happy new week. NZDCHF's dominant trend on the HTF is downward so here on the 4hr timeframe, a reversal setup (what you have on this chart is the most simplified form of whychoff) has been printed to potentially continue the Overall bearish Trend that the market has been in Since... I'd be applying my entry/confirmation model within the red and blue marked zone if I find it... it will put probability on my side... Isn't that what we want as traders? to put probability on our side?? Note how its a reversal setup but we are aiming to continue the overall dominant trend... Focus your energy more on continuing the trend rather than trying to reverse it... you'd be right 99% of the time .. the only 1 time you'd be wrong is when the market finally reverses.. but if you're always on the side of reversal.. you'd be wrong 99 times and only right the 1 time that the market is ready to reverse... Your choice... chow
AUDUSD Long Stop Limit OrderAUDUSD is set up fundamentally to be a bullish trend, with AUD scored at +20 and USD at -20. On top of Technical Analysis Support that points towards a good limit order opportunity. the Risk reward on this opportunity is also very strong. the choice is to either have a limit order or wait for confirmation of resistance off this trend line
Great Risk reward structure tradeJust noticed this trade guys. I'm not taking it because it's not yet part of my plan but it looks promising so deemed it worthy of a share. The risk reward profile has the potential to be high.
Reasons: Big RSI divergence, Oversold RSI conditions, Doji reversal candle followed by good sized engulfing if current 15m candle remains as it is, Break of channel,we are at a strong resistance level, higher time frame trend is down.
USDJPY - Structure Trade+++ Don't forget to LIKE & Follow+++
I have my eyes on potential structure trade on 1H, USDJPY - looking for shorts.
If you look left you will see that price closed lower than PB (PullBack), confirming a bearish rotation in the market.
We can clearly see a kill zone(blue box) between previous PB and structure - and it should come as a surprise for you that price hit that kill zone and reversed.
I'm expecting price to test once again the that cycle top forming a Double Top with RSi being overbought on left top.
Stops will be based on that Double Top, for targets - retesting the NSL. We will get a little bit more than 1:2 Risk/Reward for that bearish rotation opportunity.
Good Luck!
-Alex
Professional Currency Trader & Owner of www.beaprofitabletrader.com
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USDCAD monthly bullish trend. Is it buy time?First of all, look green arrows in 1D time and Blue arrows in MN time.
This pair respects moving averages, it is a directional/trend pair. I think could be a good idea buy now, doing 1º target in the 21 exponential moving average (orange in my graph), since this pair respects averages, holding some orders in case the MN trend is "right"
GBPJPY - BEARISH CYPHER - BEARISH BAT PATTERN - 240M Hi All, I wanted to share this with you, we have setting up here a potential Cypher and Bat Pattern. I wouldnt normally post a pattern that hasn't completed its C leg But in noticing this Cypher I thought to also keep an eye open for this BAT. All Cypher Details in Blue, Bat details in Pink.
Blue Line Entry for Cypher which is 78.6% Retrace from X to C Leg if price moves towards X leg we simply move our T1 and T2 - 38.3% and 61.8% along with the D until it completes.
Stops I have set to just above a 113% Fib Ext - you may use your own ROE for any trade though.
Entries are just below the standard 78.6% and 88.6% so we make sure to get filled on the order
Targets are just above the 38.2% and 61.8% Retrace from C to D Leg - So we ensure to get targets hit.
We can see here that it is now testing previous structure level and will wait to see if it bounces of or will break through to the high side.
Entry for the Cypher is close to 186.00 even handle number
May be worth keeping an eye on in the next few days.
Happy Trading
BEAR BAT BEAR CYPHER - EURAUD - 240M - D/T - 2618 Trade Hi All, we have a double top with RSI Divergence chance to get short - we could also see price continue upwards on this pair towards the Mad Monday Spike giving us an opportunity for a shorting position at AB=CD completion which puts us right inline with Previous Structure - however I have a feeling this might break that level exposing us to the next high which is the spike. If I was looking to enter a trade like this I would be more conservative and look for entry at the top side of the red box - which is almost exactly the 88.6% FIB. Happy Trading I will be watching to see how this plays out when we get to either levels.
EURUSD: Bull Gartley w/ Great Risk Reward*Just realized we have an ECB Press Conference Today at 8:30am NY. Be careful with this one up to that point* Great day of trading yesterday as I ended the day with a single win (usdcad) and a singles loss (eurjpy). For those familiar with those two trades, I'll take that any day of the week. For those looking for more information on yesterday's USDCAD trade make sure you subscribe to my youtube channel as I'll have a video up at some point today looking at it. (www.youtube.com)
Today's radar is thin, only the usdjpy, audusd and this eurusd trade (Dark Blue Gartley). This is a sloppy one (I'm watching it on the 4hr but wanted to show the bigger one as well) but it's a deep gartley pattern which if completed would provide an entry right near our X leg aka previous structure lows. Now, we know that FX data is often different depending on your broker so make sure you double check you "B" leg. Remember if it hits that 78.6 it's no longer a gartley pattern. Risk reward is great on this one 1:2 min for me and for some of you using less forgiving stops it's probably a lot more.
I've got some time before the Live Room kicks off so i'm going to do some reading and catch a little bit of the British Open before the opening bell. Good luck today traders and thanks again for all of the love shown yesterday.
Akil Stokes
Chief Currency Analyst
www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM /
Forex Weekend Review Videos: www.youtube.com
AUDNZD short tradeThis is a 0.5% risk trade I am currently in. the downward move looks impulsive to the downside and I guess there is still high probability to continue going down. And from looking at AUDUSD (still to go down) and NZDUSD (going up and currently finishing wave 2 down) this trade seems ideal :)
another "conservative"short entry could be entered after the price breaks the lowest point of wave D (1.1037) with SL @ the highest point of wave E (1.1089).
Technicals:
Wave E now is perfectly equal to 0.618 wave C.
Wave C is perfectly equal to 0.618 wave A.
Risk-reward ratio (2.4:1)
GBPUSD SKACAPITALAnalysing the weekly and daily time frame we have price hovering and being rejected at key level (61.8% Retracement) However looking at the daily time frame we have divergence and oversold on the RSI. Key Confluence for downside target of 1.157500:
- 200 EMA acting as magnetic support
- Key structure level
- Key retracement level.
If price breaks below the trend line the next downside targets would be 1.5200 then lower. If price breaks above 1.6000 then the next target would be 1.6500.
For day traders on the opening of the market price may reach 1.6000 so careful when setting up the trade. If you are a swing trader stop losses should be above 1.6000.
Nice Bat Completion USOILBeing in this chanel for some time now, having a nice Bat setup that's now completed. stop loss at channel level.
first target at 0,382, which also just above structure, second target could be placed at 0,618.
By any means, I think this is a nice set up. Let me know what you think!
NZDUSD: Measuring the Pullback for a Structure based ShortWe placed NZDUSD on our radar during yesterday's Live Room session and have been tracking it ever since. I apologize in advance, but the analysis that I did on this pair is somewhat advanced so I'm not going to attempt to duplicate what I shared with you in last night's Syndicate video. Honestly speaking it's a lot clearer on the 13 period range bar charts (as you can see in the link attached at the bottom).
Following the I.P.D.E. process that I shared with you guys on Monday, I've come to the conclusion that until shown otherwise, i want to get short Kiwi. The difficult part was determining where. Initially I had 3 killzones (with in the larger potential reversal zone) that sparked my interest but as this pair ebbs and flows, i'm starting to get a clearer idea of which zone is the one I want to keep my eye on and execute the trade if given the opportunity. To determine my killzones I've used a combination of Fibonacci retracements, extensions, inversions and harmonic moves.
I say given the opportunity because, having price action enter the zone or level isn't enough. I still need to find a reason for entry and I won't know if or when that will happen until we get there. For now all I can do is wait, watch and be ready to pull the trigger if it does.
Good luck in the markets today traders!
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