Sr
USDCAD BuyPrice looks to bounce off major Support zone and eventually move back into the pitchfork channel. Short term movement also indicate upwards momentum. Likely meaning the USD fundamental data is good. At around 7:30pm (GMT+7) when news hits, this should boost this pair up a bit.
Be careful for the possible volatile swings though (always unpredictable!)
Good trading everyone!
GBPUSD Reversal ShortMassive sell off move just occurred, the 12 hour candle will close with quite a long wick that would indicate further down movement. It's likely to go towards the median. Enter with a tight stop for a good RR of 1:8. Protect potential losses if it does decide to swing up again at intermediate SR zones.
Good trading!
USDCAD Long if price breaks strong SRPrice has to break through tough resistance, third bounce is likely to break through. There are two strong buying rejection candles shown on the 12 hour. Confirmation of this SR break if price makes that higher high past the SR zone. Go long for a 1:2.2 RR trade.
Good trading all!
EURUSD back to short trend?The bearish trend from last week can continue if there's a break of SR thus confirming the downward channel. Price can move all the way to the next major SR zone at around 1.122 level.
Enter as indicated to get a good 1:3.2 RR ratio trade.
Comments, idea's, let me know below :)
Good trading this week!
GBPUSD Short to major SR zoneThe 12 hour candle at the moment shows significant buying rejection coupled with a convincing selling run behind it. It looks like it will continue the sell run all the way down to the major SR zone around 1.41
If price makes that lower low, enter this trade for a good 1:2.8 RR trade
Idea's, comments, let me know below!
Thanks for reading and good trading :)
GBPCHF 6H chart, short on lower lowsGeneral trend has been bearish for many months. The pitchfork indicates the trend and the mean of this trend (the red line). The mean is where price is likely to reverse towards. At the moment it's moving around a strong SR zone (a channel and SR zone as indicated by the blue horizontal line).
When it does start making lower lows, there's a good entry here for a reversal to the median line.
Let's see how it develops the next couple of hours.
Comments or idea's, let me know.
Good trading!
NZDCHF Short to medianThe main trend on the daily chart has a bearish bias as shown by the pitchfork setup. Price at the moment is near SR and the median parallel line, There's a high probability for a short towards the median line (in red on the left). Price needs to make clear bearish moves first.
When price makes those lower lows, there's an entry possible for a 1:3.2 RR ratio trade.
Comments or idea's, let me know below.
Thanks and good trading!
AUDCAD H1 Short based on S/R zoneTrade based on S/R zone. Pinkish seems being stronger, however I am not very patient guy, so splitted trade into 2 - one already entered, another is limit order. SL the same for both, TP the same as well. This way I am feeding my unpatient nature :) Hah, Forex is a great lessons of itself understanding... ;)