Structure-trade
USDCHF IDEAUSDCHF has broken an ascending triangle structure on the monthly timeframe and we could potentially see price test the bottom of this structure at .71 level
On the Daily TF, price is creating LL and LH and has broken a daily support at 0.945 and came back to retest it as newfound resistence. With the Stoch RSI at the overbought end of the spectrum provides the icing on the cake and further confluence to support the trade. This could potentially be some massive moves.
EURNZD - ShortEURNZD
We can see that this pair approached a big resistance area and is a good place to take a short trade. The RSI is also overbought and I put the SL 30 pips above the high of the wig and the risk:rewar ratio is just insane on this one, so I am very comfortable to take this trade now before waiting for confirmation. You can wait for a break of the channel that I drew just for confirmation to take the trade. If it breaks to the upside it can go as far as the 1.8000 level.
Have a nice trading day :)
EURJPY - LongEUR/JPY
This pair just made a retracement to a previous area where we can find a lot of structure. It just violated the previous highs and also there is fibonacci confluence where the green box is. The Risk:Reward ratio is just a little more than 1:1 so it is a good trade in my eyes.
Have a great trading day!
GBPCHF - LongGBP/CHF
I took this trade a couple of hours ago and I really thought that I posted it, but well, here it is. You can still get into this trade right now if you are ok with the risk:reward ratio and if not, just wait for a pullback on the 15m chart to get in and you can also use a tighter SL, just bellow the 1.2955.
We can see there is some fibonacci confluence as well as previous structure on the left of where I drew the green box (area to enter the trade). I expect about 300 pips of profit on this trade :)
Take care everyone!
EURUSD - ShortEUR/USD
This pair recently broke its structure and is re-testing the previous support. The red box shows the area where is fibonacci confluence and it matches the previous support that is now to become resistance. The RSI also gives us another confirmation about where the price is looking to go on the mid-term. Personally I am waiting for a bearish signal to enter the trade and put my stops just above the bearish signal but you can also use the SL I put on the chart. With the SL and TP I put on the chart, we are looking for risking about 18o pips to a 190 pis reward.
Have a nice trading day!
Double Bottom OPPI took this Double Bottom at market price. I got in late I am relying on retracement to structural levels. Usually when there is a double touch of structure, it indicates that it may be strong in that area. RSI shows overbought conditions but not enough divergence. Let's see what unfolds.
EURUSD waiting for short entry with a potential of a 10:1 RR &Lookign at EURUSD we can see that price is moving lower. I am currently waiting for a rally then a L3C for a short entry to potentially take advantage of not only the 10:1 RR but a potential move of 125 pips lower. You will have to move up to the 1 hour and maybe the 4hr to see the structure level that was violated here on the 15m. Will we get down there to targets I have no Idea but shit for a 10:1 RR I will give it a shot. good luck and remember TRADING INVOLVES RISK.