GBPAUD 4H SHORT TRADEPrice is in between 50 sma and 100 sma.
Price fell half way to 100 sma and returned to 50 sma
Price should fall toward 100 sma
Price at 100 sma will either cross below 100 sma or consolidate sideways
Sell stop below 100 sma @ 1.7795
Take Profit @ 1.7728
SL as shown
If price crosses above 50 sma trade void
Sl
Trade the Fibonacci BounceUSDCAD was not able to break through the 61.8 fib level.
A possible trade on this setup is to open 2 small positions, both with the SL above the test of the 61.8 fib level. TP1 at the 50 fib level and TP2 at the support level showed in the graph. If TP1 is hit, move SL on the remaining positon to entry level.
If you have any questions or feedback on this analysis, feel free to share!
Happy Trading!
EUR/CAD PART 4 SL HIT Today but did not lose due to moving stop past entry point. Overall I feel like this is a winning trade, mentally due to sticking to all my rules and trading plan . I personally believe that defence is 10X more important than offence. I am still sticking to my analysis and will be looking for another entry.
EUR AUD on the rise i think. WEEKLY FRAMEWell, strong up trend has been continuing for some time met with some overbuying resulting some downtrend lately. This weeks inverted hammer candle shows a bullish reversal along with the 1.480 level of resistance shows bullish jumps with past price analysis shown with the green rectangle. Price has touched the 20 EMA (red) line and is just below the 50 EMA too (blue)
SHORT the DAX at 10250 using a pending order.FX:GER30
Short the dax when it reaches the 10250 Highs, profiting on the back on the support level when it drops down again. Only a matter of time when it corrects itself. The stochastic shows alot of choppiness so this bullish wave will come to an end soon.
A Head and Shoulders pattern targets below 1.26I believe to have found a H&S pattern on the daily chart in UsdCad
I am selling below the neckline - SL at 1.36, target of the H&S is around 1.2550
UsdCad put in new lows on Friday, after the data releases (and bad number on earnings)
Also Crude Oil is on the way up again - next target 38-40
The combination of these two will probably bring Usd down more the coming week(s)
I am hoping to sell a bounce back towards the neckline around 1.34 - 1.35
because these pattern do not work a lot of the time
If it does work and neckline holds, then I will be looking at a 8-1 RR ratio
This a long term trade and could take a number of months to play out