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EURAUD +100 pip tradeConfluence We can clearly see a well-known head and shoulders formation. EUR pushed the price up to a structure level and will probably push it back to the neckline which is my target. COT reports We can also see at the reports that the hedge funds are opening up for more short positions. We have seen an increase of 16799. DISCLAIMER! I am not giving financial advice I am just showing how I am trading. Forex trading can be risky for new traders. Trading is at your own risk!
Short
by Mete_forex
USDCHF: Potential 100 pip tradeConfluence On the daily, we can clearly touch on a well-tested support area. Another thing we can see is the bearish divergence which could be a sign for a possible push to the upside. Another thing we can see is the head and shoulders pattern which might lead to a push to the upside. COT If we look at the COT reports we can clearly see a decrease in short positions and an increase in long positions. At this point, CHF is moving down but a push to the upside will not be a huge surprise because the USD is also getting weaker. CHF COT: tradingster.com USD COT: www.tradingster.com
Long
by Mete_forex
AUDNZD 28 Jan 2020AUDNZD is pretty interesting at this point in time. Right now, we are at a very strong support level and we are waiting for a rebound. We don’t have any confirmation yet. What does the black lines mean? We can clearly see that after the ”M formation” was done the currency pair retraced down to strong support (which we also can see on the weekly timeframe). After it retraced down it made a move to the upside but could not make it which we can see with the red wick and then push to the downside. It tried to break it again. But got rejected which we can see with the red wick. Confirmation and my thoughts? I personally think that we will see a push to the downside from line A to line B and then a push to the upside. That is where we need to be alert and look for a candlestick pattern, breakout and many more factors. COT reports NZD: tradingster.com AUD: tradingster.com AUD drastic fall in short positions from 69.975 to 34.130. This can indicate that the hedge funds are ready to open more long positions and make the AUD go higher.
Long
by Mete_forex
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