EURUSD Short 1 Hr Chart 190 Pips Potential EURUSD currently in a strong downtrend and retracing like the dollar is retracing from its strong uptrend, with an 88% chance of a rate hike this month i believe we will continue to see the value of the euro fall against the dollar, i am entering this trade at the 0.5 fib and covering stops for the 61.8 and the 78.6 just to be cautious, we are now approaching overbought on the RSI so i feel this is a good time to enter this short.
Short-trade
AUDUSD Daily Chart 200 Pips +This is my trade of the week due to the fact the AUD keeps attacking resistance and cant hold as you can see in the blue box above, the green line shows a strong area of support and resistance and the red is a support level that we have seen over the last few days giving us a strong uptrend. I believe with recent bullish news from the US we can take a trade that is going to give us a strong 200 pip profit with a small stop loss.
EURUSD Short 4 Hr Chart We still have a strong downward trend on the EURUSD and with a bullish trump speech i believe we are going to reach January resistance level 1.047
over the last few weeks we have seen a lot of buyers at 1.05 so this is an area you will need to be careful of and i will be looking to take partial profit here as i have been in since 1.065.
EURUSD Short 4 Hr Chart We have seen weakness on the dollar index over the last few days giving the euro strength, after looking at the dollar index i believe its starting to form a sideways channel, in the chart you can see the EURUSD is forming a rising wedge in a downtrend on the 4hr chart which is considered incredibly bearish, i believe we are going to see a strong sell off.
NZDUSD Short 1 Hr Chart Recent rally due to the weakening of the dollar, dollar index now testing support so i expect to see a pull back from the NZD and continuation up or a fall to support levels at 0.7130, either way i will continue to monitor the dollar index on this trade before deciding whether to stick with it or execute the position.
USD/JPY GOLDEN 4H SIMPLE STRATEGY/ VERY ACCURATE Along side my trend channels and range trading, I like to use this set up for some extra pips and when back tested works very well over most months (Will probably move to only this strategy when I can guarantee consolidation is not taking place) It cuts all emotions out of trading when I use it with the right money management.
Everyone should know that moving averages will indicate direction of price and wether you should be buying or selling with the trend.
Gold stars indicate correct setup. Arrows are entry. Red line is SL movement.
STRATEGY: SMA CROSS & BOUNCE
TIMEFRAME: 4H (Will give traders time to enjoy their life and trades can be made simply from mobiles on the go)
CHARTS: USD/JPY GBP/JPY (Works the best because of high volatility)
INDICATORS: MA (50/200) BB (20)
RULES: BUY ENTRY
1. BB (MA20) must be above MA (50)
2. Price must cross above both BB (MA20) & MA (50)
3. Price must test BB (MA20) as support while above MA (50)
4. Bullish conformation candle from support
5. Buy/Long Entry is made.
RULES: SELL ENTRY
1. BB (MA20) must be below MA (50)
2. Price must cross below both BB (MA20) & MA (50)
3. Price must test BB (MA20) as resistance while below MA (50)
4. Bearish conformation candle from resistance
5. Sell/Short Entry is made
RULES: SL AND HOW TO PLAY IT
1. SL Placed at bottom/top wick of conformation candle depending on buy/sell
2. Allow price to move in trade direction
3. When price retests MA(20) SL is moved to top/bottom wick of candle
4. repeat until price no longer stays above/below MA(20) and hits SL.
I have given 2 previous example of how this strategy works in the past few weeks, I hope you all enjoy it and would love some feedback and some helpful information to combat consolidation periods.
Current signal for Long order highlighted.
Please use strategy with your own judgement.