Swingtrader
NZDCAD - Swing Trading Set UpPrice is currently in a descending channel testing the channel support and resistance multiple times. However, price is now testing channel resistance as well as a resistance level (which was previously support but now is a key resistance in the market). Price action is stating three rejections and now has formed three 'Shooting Star' Japanese candlesticks which is a strong indicator of bearish pressure holding price below this resistance level. This set up is providing strong evidence of a reversal in the market to go short.
POSSIBLE LONG-TERM BULLISH TRAD IDEA ON USDNOKPrice broke out of the ABC correction counter trend line which is also the neckline of a double bottom pattern.
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Price has the potential to move towards the resistance level after it broken out of the correction with an impulsive wave 1-5 and retested the broken structure with an ABC zigzag pattern.
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Considering that the price has broken out if the ABC zigzag CTL, we will just have to let the market decide it's move.
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Best of luck on the chart!
GBPJPY : LONG : DAILY #FREEMONEY #EVERYTIME #LETSRUNITBACKDaddy has been doing this for a while, you can trust me. I haven't completely left forex or anything, I just had to lose my entire life savings in cryptocurrency in order to realize there is no gateway to heaven for an extended amount of time. When crypto opens those legs again I will be there <3 In the meantime GJ is looking too good for me to miss out. If we break this area that we're currently testing we'll be heading to 140 zone, otherwise lets ride this to 150. (Beware of congestion) When you hit profit remember who put you on
AUDUSD - BULLISH CONTINUATION TRADE SETUP (SECOND ENTRY)I'm revisiting the AUDUSD bullish trend continuation trade setup. After the first setup I posted earlier shy few pips from our 1:4.1 TP zone, we had a slight pullback to the broken daily swing level. Since the price has made a decent retracement to our confluence level and gives us an excellent Counter Trend Line placement, we have the potential to see a further leg up after the proper break of our CTL.
Find the link to the previous analysis below.
Thanks for reading.
CHFJPY H4 - TREND REVERSAL TRADE SETUPIn the CHFJPY H4 chart above, the price made a strong down move followed by an inverted Head & Shoulder pattern.
Price reversed from the weekly support level as well as 78.6 Fib ratio to complete the right shoulder of the H&S pattern, and it broke out of Counter Trend Line (CTL).
Price made a double bottom on the support level before the breakout of CTL which indicate that the market has the potential to complete the head and shoulder reversal setup.
Since we have a confirmation entry on this, we just have to be patient and give it time to play out as planned.
Thanks for reading!
A CLEAR BREAK AND RETEST CONTINUATION TRADE ON AUDNZDAfter the break of range zone, price retraced back and retest the broken level which is also aligned with dynamic resistance (mean value), 50.0 Fib, and weekly resistance. Our goal is to look for continuation trade after the breakout of the counter trend line (CTL). Now we have the break and retest of the bearish CTL, we give a shot for short. Entry, Stop Loss and Target are clearly defined on chart.
Trading levels for 10/18/2018The market is struggling to make HH's in the 2H chart, regardless I would like to see a rally to the structure resistance around 7420 to start some shorts, my sweet spot would be R3, but we will have to see if the bulls have what it takes. In the other hand, i don't think i will be looking to start a long position, i think that a break of the short-term ascending trendline can change things rapidly.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.
Salt has pumped and you better not chase it yet and waitSalt has pumped that is nice. People will take profit. You need to calm down before you can get in. Looking for entry around 850 sats below and looking to sell around 9xx sats - 1059 sats.
Long on QQQ The market has been very choppy lately with lots uncertainty. The qqq was unable to make new highs on the previous move up. although this may be true, we can still see a potential trade to the upside with a reasonable stop loss below. The qqq has pulled back to the 61.8 Fibonacci retracement level. also it has some support which was respected twice last week. For this trade, I will go long at the end of the day on a bullish close and strong volume for a risk reward ration of about 1 to 2.
The MACD is also showing signs that there may be a trend reversal in the near future. So I will take a small position in SQQQ to protect against any large moves to the downside.