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USDJPY EXTENDED OUTLOOK (SHORT) USDJPY SHORT AS YOU CAN SEE ON THIS CHART I MORE SPECIFICALLY PAINT OUT A PICTURE THAT THE MARKET IS SHOWING ME ITS STARTING TO FORM. YOU CAN SEE THAT THE BIG PICTURE IS A SELLER THAT CAUSED A VERY SIGNIFICANT DROP IN PRICE FOR MONTHS. PRICE HAS BEEN RECOVERING IN A PULLBACK LONGER THAN IT TOOK TO DROP! MARKET HAD DISPLAYED A PEAK IN THE PULLBACK BY BUYERS DYING OUT AND SELLERS COMING IN. MARKET IS SHOWING A NOW LOWER HIGH (LH) AND LOWER LOW (LL) SEQUENCE. KEEP AN EYE ON THIS PAIR FOR WHAT THE NEAR FUTURE MAY HOLD!
Short
by JosePips
1
USDJPY POTENTIAL SHORT (1D CHART) IM NOT GOING TO PUT A FULL ANALYSIS ON THIS PAIR DUE TO THE FACT IT IS JUST SOMETHING I AM LOOKING AT AND JUST WANTED TO SHARE IT WITH THE COMMUNITY. BASED ON RECENT PORICE ACTION AS YOU CAN SEE THERE WAS A STRONG SELLER PUSH ON THE LEFT HAND SIDE OF THE SCREEN BACK FROM DEC. 2018 TO JANUARY OF 2019. THERE WAS A PULLBACK BY THE BUYERS FROM THE LOOKS OF IT WAS A LOT WEAKER THAN THE SELLER. NOW LOOKING AT PRICE ACTION ON THE DAILY CHARTS THE SELLER MOMENTUM HAS COME BACK IN AND BROKEN BUYER STRUCTURE IN THAT UPTREND. LOOKING FOR A PUSH DOWN INTO THE ZONES I HAVE POSTED. KEEP AN EYE OUT ! REMEMBER TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT IN YOUR TRADING. THESE SETUPS I POST ARE NOT GUARANTEED FOR SUCCESS. TRADE AT YOUR OWN DISCRETION! PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE SETUPS! CHEERS!
Short
by JosePips
EURCHF POTENTIAL SHORT (LONG TERM VISION) EURCHF POTENTIAL SHORT IF YOU TAKE A LOOK AT EURCHF YOU WILL SEE THAT ON THE LEFT HAND SIDE OF THE SCREEN YOU WILL SEE THE VERY DOMINANT SELLER PUSH TO THE DOWNSIDE BACK IN JANUARY OF 2015. SINCE THEN, THE BUYERS HAVE BEEN TRYING TO RECOVER THE PRICE OF THE EURO VS. THE CHF. IF YOU COMPARE HOW MANY BUYER ATTEMPTS IT HAS TAKEN TO TRY AND RECOVER THAT DROP IT TRULY SHOWS YOU HOW STRONG THAT SELLER REALLY WAS. IF YOU LOOK AT THE TOP OF THAT BUYER TREND THAT OCURED FOR 3/4 YEARS VERY RECENTLY IT HAD TOPPED OUT WITH OVER 100% RESTS FROM THE SELLERS WITH VERY STRONG MOMENTUM. THIS IS SHOWING ME THAT THE SELLER STILL HOLDS A VESTED INTEREST IN THIS PAIR AND THIS COULD LEAD TO A VERY GOOD PUSH TO THE DOWNSIDE FOR UPCOMING TIME. LETS TAKE A LOOK! 1W CHART: *IF YOU TAKE A LOOK AT THIS CHART YOU CAN SEE HOW THAT ONE SELLER CANDLE TAKES UP THE WHOLE LEFT HAND SIDE OF DATA *IT HAS TAKEN THE BUYERS HUNDREDS OF ATTEMPTS TO TRY AND RECOVER THAT GROUND FROM THE SELLER *AT THE TOP OF THE BUYER TREND THERE WAS A 100% REST DONE BY THE SELLERS AND EVENTUALLY BREAKING STRUCTURE TO START CREATING LOWER HIGHS AND LOWS 8THIS IS A SIGN OF A SELLER TREND NOW AS WELL WHICH SHOWS THAT THE SELLER HAS A VESTED INTEREST IN SHORTING THE EUR VS THE CHF. 1D CHART: * IF YOU TAKE A LOOK AT THIS CHART PRICE IS SITTING AT STRUCTURE LOWS FROM SEPTEMBER OF 2018 *WE WOULD WANT TO SEE A STRONG BREAK AND HOLD BENEATH THIS STRUCTURE POINT BEFORE LOOKING FOR POTENTIAL SHORT OPPORTUNITIES 4H CHART: *THIS CHART COULD BE USED FOR MORE PRECISE ENTRIES, EVEN THOUGH STILKL BEING A HIGHER TIMEFRAME CHART, WE ARE LOOKING AT WEEKLY AND DAILY CHARTS WHICH REPRESENTS A LOT OF DATA SO THEREFORE THE 4H WOULD BE GOOD FOR ACCURACY FOR THIS SWING TRADE REMEMBER TO ALWAYS IMPLEMENT PROPER RISK WHEN TRADING ON THE FOREX MARKETS. THESE SETUPS ARE BASED ON PERSONAL ANALYSIS AND HAVE NIO GUARANTEE OF GOING IN THE DIRECTION STATED ABOVE. ALWAYS USE YOUR OWN ANALYSIS AND PROPER RISK BEFORE TAKING ANY SETUPS. PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE SETUPS!
Short
by JosePips
XAUUSD POTENTIAL SHORT OPPORTUNITY (1D&4H) XAUUSD POTENTIAL SHORT OPPORTUNITY I had been long in XAUUSD a few weeks ago after a decent buyer momentum move was shown to the upside on the daily time frame. After letting this momentum play out I was watching this commodity and its price seeing the buyers slowing down on the 1D timeframe chart and noticed that some seller strength was coming in. The market was showing me that the buyers were dying out and that seller interest and momentum was stepping in. After watching a price squeeze (AKA WEDGE PATTERN) on the daily timeframe play out and break to the downside it confirmed my bearish thoughts on this pair. Let's dive into it. 1D CHART: * on this timeframe price was at market highs and was showing signs it was overextended * the buyers had been slowing down and seller momentum started to kick in *there was a break of the squeeze of price action to the downside, market confirming a possible bearish move *price is overextended and showing it is more likely to make a move to the downside then to the upside 4H CHART: * use this timeframe to get a more specific glance at what the market is trying to show us *make sure price holds beneath the wedge on the timeframe so it is not a fakeout *use this timeframe for good risk/reward setup as well as precise entry and exits MAKE SURE TO ALWAYS USE PROPER RISK MANAGEMENT WHEN TRADING. NOT EVERY TRADE IS GUARANTEED TO SUCCEED AND IT IS IMPORTANT TO BE PREPARED FOR THE WORST CASE SCENARIO. NEVER RISK MORE THAN 2% OF YOUR WORKING CAPITAL PER TRADE TO PREVENT BLOWING YOUR ACCT. AND BEING ABLE TO TRADE MORE LONG TERM. CHEERS!
FX:XAUUSDShort
by JosePips
GBPCAD POTENTIAL SHORT OPPORTUNITY (1H & 4H CHARTS) GBPCAD POTENTIAL SHORT I was doing my pre-market analysis for the week and something about this pair had caught my eye. I was looking at global correlation between the currency pairs and the market had showed me that the CAD gained a lot of strength last week across the market. Due to this it had led to a CAD strengthened market which has now led into some trading opportunities. If you look at this pair on the 4H timeframe you can see the market make an attempt to make a new high and come into structure around 1.71600. This had immediately been followed by a very strong seller momentum push to the downside; not only moving to the downside but breaking the recent structure and swing low on the 1H and 4H charts. Lets take a look at where the trading opportunity may be. 4H Chart: *on this timeframe chart you can see that the market had come into structure around 1.71600 and was immediately followed by a very strong seller push to the downside *when the market had been pushed to the downside it not only was very strong but it also had broken structure on the 1H and 4H charts (showing seller control) *the sellers are a lot stronger than the previous buyer in this case and therefore led to a potential short opportunity *watch for a weak re-test by the buyers into structure if we see one 1H Chart: * on the 1H timeframe look for a weak pullback by the buyers AS WELL AS a strong seller interest to show up again *we want to see that because it will show to us that the seller is still interested in taking prices lower *use this timeframe for a good risk/reward ration setup! PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE TRADE SETUPS! CHEERS!
Short
by JosePips
3
GBPJPY SHORT POST ANALYSIS (NY SESSION TRADE) GBPJPY NY SESSION TRADES I had been looking for some day trading opportunities during the New York session this morning and GBPJPY was showing some good potential short signals. When trading such a short timeframe the best way to approach it is to see what the VERY NEXT move the market is showing its trying to make is the one you have to capitalize on. This morning is was displaying a potential short. On the 15M-1H charts there was a very strong seller momentum push to the downside as you can see on the left hand side of the chart. The push had been a new low and the buyers had brought price all the way back up into the price level of 142.900 where the original move had started. This relief back into structure had been very weak compared to the downside push by the seller showing me that this was a 100% discount for the seller essentially. Which who wouldn't want a 100% discount ? ;) Let's take a look at this. 1H Chart: *on this time frame GBPJPY had been in a sellers trend for some time almost since the beginning of November. *watching the momentum it had showed mt that the sellers were still very interested in this pair to short 15M Chart: *during the NY session when I'm looking for a potential trade opportunity I look at 1H for bigger picture and 15M for the details of what it is trying to show me the next move will be *I had seen a very weak push to the upside and then a top started to form, showing seller interest again *risk/reward was fantastic and decided to take the trade for 100 pips profit REMEMBER TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT WHEN TRADING. STAY DISCIPLINED TO YOUR TRADING STYLE AND PROCESS. Please like and follow my page for more profitable trade setups as well as post-analysis ! Cheers!
Short
by JosePips
USDCHF POTENTIAL SHORT OPPORTUNITY 1D TIMEFRAME USDCHF POTENTIAL SHORT I had posted last week on USDCHF displaying how it is sitting at very significant structure. This last week the market had showed me a move that peaked my interest and that supported the short bias on this pair. On the daily timeframe this pair was recently moving to the upside, formed structure, then came crashing down failing to make a new high and breaking that newly formed structure level. The sellers came in with strong momentum and this led to my belief that the market is trying to tell me something. Remember to always let the market tell you what it wants to do rather than you telling the market. Follow who makes money and that is who moves the market (driving forces). This drop I think could be a lead in into a future potential downward move. Lets check it out. 1D Chart: * Price is sitting around the significant price area of 1.000 *The market attempted to make a new high after forming new structure and was immediately pulled down with seller strength *The seller showed strong interest in this price area not allowing it to go higher *watch for weak buyer pullback to display seller control/power 4H Chart: *on this timeframe look for a weak buyer pullback back into that recent significant structure *watch for strong seller interest again once price pulls back into the structure point *use this timeframe for better risk/reward on this pair REMEMBER TO ALWAYS USE PROPER RISK MANAGEMENT AND BE DISCIPLINED IN YOUR APPROACH. STICK TO YOUR TRADING PLAN. I UNDERSTAND NOT EVERYBODY IS GOING TO LIKE HOW I TRADE AND I AM NOT HERE TO APPEAL TO EVERYBODY. I AM HERE TO CHANGE AS MANY LIVES AS I CAN AND I UNDERSTAND ITS EASIER WHEN WE TRADE SIMILAR. BUT THE PRINCIPLES AND FOUNDATION ARE ALL THE SAME. Cheers! Please follow my page for more profitable trade setups !
Short
by JosePips
2
USDCAD POTENTIAL SHORT OPPORTUNITY (1H AND 4h CHARTS) USDCAD POTENTIAL SHORT OPPORTUNITY This setup is going to be similar to the GBPCAD setup that was posted this week as well. If you look at this pair you can see that recently the market had a very dominant seller move to the downside. The biggest tell if the selloff is legit or not is going to be the RE-TEST. The re-test is a huge tell sign of whether or not that move was legit or not. As traders we must trade high probable setups so that our potential of winning is greater than of losing. This is how we will become consistent over time and it takes strong discipline to do so. Let's take a look at this USDCAD setup. 4H Chart: * on this timeframe we can see that the market had come to a high point and was followed by a very strong seller push to the downside *you only want to sell the market at high point and sell at low points. This may sound very obvious for most people but that's not the problem. The problem is that most people do not apply it to their trading *look at this timeframe for a weak re-test by the buyers to confirm the seller is in control 1H Chart: *use this timeframe to watch the pullback on a more specific level *use this timeframe also to watch and see if seller interest comes back in on the re-test (if it doesn't we wont be looking to trade this currency pair) *make sure to have good risk/reward based on this timeframe MAKE SURE TO ALWAYS IMPLEMENT PROPER RISK. NO SETUP IS A GUARANTEE THAT IT WILL GO THAT WAY. WE ARE TRADING BASED ON PROBABILITY AND YOU SHOULD ALWAYS USE PROPER RISK MANAGEMENT. PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE TRADE SETUPS. CHEERS!
Short
by JosePips
USDJPY POTENTIAL SHORT OPPORTUNITY USDJPY POTENTIAL SHORT USDJPY is starting too display signs that the buyers may be dying out and that it may be time for a pullback/reversal on this pair. We have seen an uptrend in this pair since beginning of October at least and on the 4H it is displaying some signs on seller momentum and buyers weakening. USDJPY is also sitting in the area of multi-year highs and now starting to see some seller momentum come in. Remember we always let the market show us what it wants to do next so that we can analyze and go with the players that are actually moving the market. Lets take a look at it. 1D Chart: *on this timeframe you can see that price of USDJPY is sitting at multi-year highs *this is a significant area to watch and see how the market reacts in this are and if the sellers have enough control to have price hold at these levels or not *watch for lower low lower close on this timeframe as well as stronger seller momentum 4H Chart: *if you take a look at this chart you can see that the buyers are dying out and it looks like a top is being formed around 114.00 handle *sellers are coming in stronger than the buyers which is displaying good seller control and it may be a matter of time before they pull this market to the downside for some relief or a reversal 1H Chart: *use this timeframe to be really precise of a break and hold of the structure forming at this top for a possible potential downside move *also use this timeframe to obtain a more precise entry/exit for this pair REMEMBER TO ALWAYS IMPLEMENT PROPER RISK MANAGEMENT WITH YOUR TRADES. ALWAYS STAY DISCIPLINED TO YOUR TRADING PLAN AND NEVER RISK MORE THEN 2% OF YOUR TRADING CAPITAL. IT'S NOT ABOUT MAKING MONEY ITS ABOUT PRESERVING MORE SO. Cheers! Please follow my page for more trades!
Short
by JosePips
2
USDCHF STRONG STRUCTURE ZONE (WATCH THIS PAIR) USDCHF STRONG STRUCTURE ZONE I don't only want to post trades on here for you guys I also want to be able to post market outlooks and analysis as well. As you can see USDCHF is just starting to come into a very strong structure zone. Back in January of 2015 you can see that this market had a 16%+ drop in a matter of a week. THAT IS HUGE and as you can see it's something the market hasn't forgotten about and has been struggling to recover ever since. Market prices have not been able to break above this zone in years and this leads me to the fact that it is more probable that it will not any time soon. Now I could be wrong, but I let the market tell me what it wants to do and by the past few years it had shown me it can't break above that January 2015 high. Keep an eye out on price in this zone in the upcoming months to watch and see how this pair plays out and if we can potentially capitalize on what the market tries to show us. Keep and eye out and keep it on your watch list because it is a really significant zone based on the data it is showing us from the past market conditions. Cheers! Please like and follow my profile for more posts of trades, analysis, and big profits! Cheers!
Short
by JosePips
FIAT CHRYSLER AUTOMOBILES POTENTIAL SHORT (STOCK) FCA POTENTIAL SHORT Most of my analysis and setups are going to be in the FOREX markets but from time to time I see potential opportunity in other markets as well so I want to post them so that everyone following me, regardless of the market you like to trade, can potentially benefit from these setups. I had been looking through certain automobile stocks and I had come across this stock and based on the recent breakdown, head & shoulders pattern, and momentum I couldn't pass up the idea of posting it on Trading View. I like using this resource as a tool to also keep me accountable for my trades and use it as a tool to stay disciplined and only trade setups that are within my guidelines and making sure every trade is a strategic business move with a high probable setup. 1D Chart: *This chart had displayed a very strong break of recent significant structure around $15.50 price area *Following this strong break of structure since July 26th there has been a weak pullback by the buyers back into that recent structure level ***I also like calling structure (activity levels) ; it is a good tool for me to see where the last activity was occurring and how the market is usually drawn back to those points *Wait for strong seller momentum to come back in, if we see any, on this re-test before looking to short; we need to build just a little bit more of a case before shorting 4H Chart: *use this chart for more specifics on price and watch for that early tell of seller momentum to kick in *look for a good risk/reward using this time frame as well Remember to always have a trading plan when approaching the markets. You always want to make sure each decision is a business decision an in order to grow your business you must make strategic moves with a good risk/reward ratio and a strong risk management strategy; for me its never risking more than 2% of trading capital. Keep an eye out ! Cheers!
FShort
by JosePips
GBPJPY POTENTIAL SHORT (1D & 4H) GBPJPY POTENTIAL SHORT When I had done my pre-market analysis this weekend I wasn't seeing anything that had showed me it could be a high probable trading setup. After watching some liquidity come into the market GBPJPY had caught my attention. GBPJPY is at structure highs on the 1D timeframe and has been showing strong signs of buyer exhaustion and seller strength/control. If you look at the 4H timeframe you can see every push up by the buyer is followed by a very strong push down by the seller. This indicates that the buyers are dying out and the sellers are taking control. It is failing to make new highs and is being followed by strong seller momentum. By the market doing so it shows me that the sellers are interested in selling price and the buyers are dying out. REMEMBER TO ALWAYS LET TO MARKET TELL YOU WHAT IT WANTS TO DO, NEVER TELL THE MARKET. At the end of the day if you want to be trading profitable, and probable setups you have to flow with what the market is telling you. So lets dive into this. 1D Chart: *price is sitting at very significant structure around the 148.00 handle *buyers have attempted to re-test highs but sellers smack down price with strength (showing control) *buyer is dying out (bearish engulfing candle) 4H Chart: *on this timeframe chart at the highs buyers are followed by stronger seller momentum (control) *watch for a break and hold beneath the 4H ascending trend-line, so that all participants are on the same page (equating to larger move) *watch for slight small weak reaction at trend line, break beneath, and a small re-test before dropping (if it does) 1H Chart: *use this chart for precise entry based on momentum, structure, and good risk/reward Keep an eye out! Cheers! Please like and follow my page for more high probable trade setups!
Short
by JosePips
EURUSD WATCH THIS PAIR (1D Chart) EURUSD WATCH THIS PAIR I wanted to make a post on this pair because EURUSD has been in an interesting spot lately, or I should say a few spots. The market was displaying to me that it was due to the fact that many different people had their outlooks on this pair therefore it led to indecisiveness in this currency pair. If you look at this daily time frame here the 1.15500 handle has been very significant level for price action on this pair. Since May of 2018 (this year) price has been holding above those levels. On August 10th of this year it attempted to break those levels but price ran right back above structure showing us a fake out. This is where the market started showing signs of indecisiveness and hasn't been able to break above the 1.17500-1.17800 price area. THEN recently price dropped from the 1.17800 area down UNDER the 1.15500 level. SO based on what the market has recently been showing me is that price has come down BELOW the significant 1.15500 handle that it had been holding above and HAS NOT ran right back up yet. I want everyone to keep an eye on this pair because it's in a significant spot right now and if price holds beneath this level and shows us some strong seller interest then we may see a more long term drop on this pair. Keep an eye out on this pair and I will to continue giving updates throughout the week on it. Cheers! Please follow and like my page for more trades on TradingView!
Short
by JosePips
GBPUSD POTENTIAL SHORT OPPORTUNITY GBPUSD POTENTIAL SHORT I had recently became aware that across the board the GBP currency dominant pairs had seen a sharp, heavy volume seller interest across the board. When we see correlation in the market it shows us that there is interest globally in that specific currency and in this case its displaying interest in a short for the GBP. I had seen that overall this pair had been in a downtrend and then when I had looked at the weekly time frame graph I had seen the huge wick to the upside displaying that the buyers tried taking price to the upside but were very aggressive shut down by the sellers, showing me who is in true control at the moment. Remember trading is all about probability so you always want to let the market show you what it wants to do rather than you trying to tell the market, trust me it makes a huge difference. So here is my analysis on GBPUSD. 1W Chart: * on this timeframe you can see how price tried coming up to the 1.3300 price handle but had been smashed down by the seller *the weekly timeframe candle had shown the attempt by the buyers and very strong rejection by the sellers 1D Chart: *On this timeframe you can see that the buyers had tried creating a new high and was suddenly followed by very strong push by the seller *the overwhelmingly strong seller strength bias on the daily is showing me that the seller is very interested in taking price lower against the USD * look for a weak re-test by the buyers, to get better price and to confirm that the seller is in control 4H Chart: *use this timeframe for more specifics on the pullback and look for strong seller interest back in the structure levels around 1.31500 handle *use this timeframe for good risk/reward setup trade entry as well Always make sure you allow the market to show you what it wants to do. Not the other way around. It allows you to stay in the flow of the market movement and allows you to keep an open perspective on where the market is heading next, without what we believe. At the end of the day it doesn't matter what we think, we aren't what moves the market, let the market (big boy) tell US what it wants! Keep an eye on this pair! Cheers! p.s. please like and follow me on TradingView for more trade setups!!
Short
by JosePips
EURAUD POTENTIAL SHORT EURAUD POTENTIAL SHORT 1D Chart: *on the daily chart price is showing signs of being over-extended based on seller momentum coming in *price had been rejected at the previous highs leaving a lower low lower close candle for 9/18/18 4H Chart: * on this time frame chart we have seen that the sellers had come in and caused a large drop in the EURAUD pair *price has now breached/broken structure at the 1.61500 price area, showing a initial impulse move *momentum of the seller seems to be stronger than the buyer that is attempting to pull price back into recent significant structure *watch for strong seller interest at that significant price area on the potential re-test and re-visit of that structure level; this will show us the seller is still interested in this pair and we can look for a decent move to the downside on this pair Make sure to always have a trading plan when approaching the Forex markets. It can be a game changer when you see your results based on having a strategic business decision versus a hobby like mentality. It is what will take your trading to the next level. Make sure to always implement proper risk management with every trade setup as well. Never risk more than 2% of trading capital per trade. Keep an eye on this pair! Cheers!
Short
by JosePips
1
EURUSD WATCH THIS PAIR (POTENTIAL FUTURE SHORT) EURUSD WATCH THIS PAIR So I have been dealing/battling with this pair for the past month or so, as I think many traders have been. EURUSD on the daily timeframe keeps attempting to break to the upside above structure around 1.17200 but last couple times has been slammed down by the sellers resulting in a fakeout above structure on the 4H around price handle of 1.16500. This pair definitely hasn't been easy to trade but I wanted to post analysis on this for future reference for a future potential short trade opportunity. Based on the fact that the sellers keep pulling it back down in price it's showing me that the sellers do have some interest in shorting this pair. Keep an eye on this pair for a test of 1.16500 recent significant structure and BEFORE we look to sell I'm going to say wait for a break/breach and hold beneath significant structure around the 1.15400 area. This is due to the fact that structure here has been holding very well with good interest from the buyers around this point, so if we're looking to go short we should wait for a break and hold beneath this structure point (so that we have higher probability) on this trade if we have a chance to take it. I just wanted to post this so everyone can keep their eye out on it and see my outlook for it as well. I have a few other setups I may be posting about this week I just need a little more data to see to be able to make a business decision based on a probable setup. I will keep everyone updated! Please like and follow me here on TradingView for more trade posts! Cheers!
Short
by JosePips
1
NZDUSD SHORT TRADE POST ANALYSIS (1H)NZDUSD SHORT POST ANALYSIS I never posted this trade on TradingView but I wanted to make a post on it so you guys can see what an ideal trade may look like. I don't post every single one of my trades on this source due to the fact that it is a free source. BUT I want to be posting my trades on here for educational purposes as well. So for this trade setup I was watching this pair and had seen that NZDUSD had been down trending for a good period of time. On the 1H time frame I saw a very strong push down by the seller into recent structure/trend lows and then a very weak reaction by the buyers at the structure low. Most people would be looking to buy this pair at the low but since I use momentum to allow the MARKET to show ME a trade opportunity I saw a good fit here. On the 1H chart as you can see in the image I annotated I waited for price to come into the .66000 handle and waited for seller momentum to come back in at that level, to show me they were still interested. We had got that and EVEN got another weak re-test by the buyers giving us a good entry opportunity with good risk/reward. This trade setup was a success. Hope you learned something new! Cheers!
Short
by JosePips
2
EURUSD POTENTIAL SHORT OPPORTUNITY EURUSD POTENTIAL SHORT OPPORTUNITY I have been watching EURUSD closely for the past couple weeks. This pair has been in an interesting spot for awhile and not until recently has it really caught my interest for a potential short opportunity. If you look on the 1W time frame, which I usually wont go to that large of a time frame, but it actually shows that EU had been in a Head and Shoulder structure and had broke the neck line. Now to go down to more recently whats been happening if you take a look at the 1D (daily) time frame it displays that EU has been making lower highs with a descending trend line its holding, as well as lower lows, without a true market rollover yet. Or impulse move however you want to look at it. There was a point in time on August 28th that we had seen EURUSD was attempting to break that descending trend-line to the upside. BUT there was something I saw that I didn't like, it was very WEAK. Especially for being a daily time frame respected level/trend line that would cause for a high volume break, and we just didn't see that. After a couple days of weak movement up price ran back down with strength by the sellers! Causing that to become a fakeout! NOW I was interested. I waited for the re-test to make sure the buyers were weaker and sure enough the sellers smashed it back down again. Now we're here and I'm looking to go short because the sellers are showing me they are interested in shorting this market, the reason doesn't matter as much as you think! So lets check it out. 1D Chart: *On this timeframe EURUSD had a fakeout below a descending trend line that has been holding since June/July *on the re-test the seller had come back in and smashed price action down showing strong seller momentum *the market had created a lower low lower close candle now on the daily timeframe with STRENGTH 4H Chart: *we are going to use this chart to get more of the specifics *price action is now sitting at a recent significant structure area on the 4H timeframe so lets wait for a reaction for better price entry (if we get one) *we want to look for a weak re-test into the 1.15900-1.16200 area and wait to see strong seller interest at this level Remember to ALWAYS stay disciplined to your trading plan and risk management. It is very crucial to formulate a disciplined and consistent approach in the markets. If you are not prepared they will get the best of you and you will never be profitable unless you implement that discipline. Think of every trade like this, a STRATEGIC BUSINESS DECISION. It will allow you to truly wait for probability to be on your side as well as help you formulate a business plan for each trade. Remember never to risk more than 2% of your trading capital per trade. Keep an eye out on this trade! Cheers!
Short
by JosePips
2