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The808trader

CHF Comeback? - Ichimoku USD/CHF Short TradeThis pair has stalled out a little bit but zooming into the 1 hour chart we see some strong support sitting a little below our current price. If we can break that level then I'll look to get short. You'll notice some wicks around that level that I'm also watching to get broken. I've drawn out some partial profit targets on the way to my longer term target to aim for as well. If we fail to break down below those levels and form lower lows then this setup may become invalidated.
Short
by The808Trader
Aussie Decline? - GBP/AUD Ichimoku long trade setupThis is setting up to a week of drawback and trend continuation setups! We've broke above a strong level here with GBP/AUD, and I am looking for a drawback and a sign for a chance to buy. If we can get the drawback and price action present us with a good chance to enter, I'll get long with the targets I've drawn out. I am aiming for price structure highs as my overall target but I've drawn out several partial take profit levels along the way. If we fail to get a drawback or good price confirmation for entry, this setup may become invalidated.
Long
by The808Trader
2
Cad Weakness? - USD/CAD Ichimoku Long Trade SetupWe have a kumo breakout here with USD/CAD and I'm looking for a chance to hop into a bullish trend. We've gotten a little bit away from tenkan sen here which leads me to believe we'll probably get a drawback to the kumo or tenkan sen soon. I am looking for that drawback and support to hold for a chance to get back long. With the news of the Drone attacks on Saudi oil sites, this may gap down and get us a good entry to start off the week. I've drawn out my major Take Profit level at price structure highs, as well as several partial take profit levels to aim for along the way. If we fail to get a drawback or support doesn't hold, then this setup may become invalidated.
Long
by The808Trader
Pound the Kiwi? - GBP/NZD Ichimoku Long Trade This is one of my favorite types of setups! We had a strong break above some major price structure resistance. When this happens we typically get a drawback to that major level to test it as support. That is what I'm looking for with this setup is a drawback and price action to show support for a chance to get long. I've drawn out my major target as well as several smaller take profit levels along the way. If we fail to get the drawback or hold at support after a drawback, this setup may become invalidated.
Long
by The808Trader
Pound Bull Run Over - GBP/USD Ichimoku Drawback TradeWhile sitting bullish overall on the 4 hour, we've closed below tekan sen and the daily remains largely bearish. When we look at the 4 hour here we see a flat kijun sen, that combined with the close below tenkan sen leads me to believe we're due for a drawback as the market seeks to balance back out. We do have the on-going Brexit situation to be aware of here, but I don't see the pound gaining a ton of strength with the current economic display we've been seeing. Since this is a counter-trend trade I will take slightly less risk than a trend based trade. If we fail to break lower and trigger our sell entry, this setup may become invalidated.
Short
by The808Trader
2
More Euro Weakness - EUR/USD Ichimoku Short TradeFor this setup we're going to zoom out to the daily chart. We've had some good indecision and wick rejection candles. I am looking for a break of the previous candles low wick to enter my short. This is also combined with a look at the fundamentals of the EU as interest rates sit flat and not a lot of growth prospects. If this move doesn't play out right away I would still keep an eye on it as I see the USD gaining on the EUR over time. As long as we break that previous candle low I will enter my sell looking at previous price structure lows as my overall target, with a couple other price structure targets I've drawn out along the way. If we fail to break lower or if our bearish signs change, this setup may become invalidated.
Short
by The808Trader
Pound to end the weakness? - GBP/CHF Ichimoku Long Trade SetupThis is a second entry on a previous trade setup that we took a look at. We're already running in profit from the previous trade setup, but we've gotten a bullish TK cross and I'm watching for the pound to try and push higher. We have been consolidating a little bit here but especially if we can break up and above the first target line for the new trade, we should be able to get a big rise. We can try to entry right at market open or wait for an actual touch on tenkan sen for a confirmed buy entry. If we fail to hold support or climb higher, then this setup may become invalidated.
Long
by The808Trader
Yen to Fade? - USD/JPY Ichimoku Long TradeThis pair has been pretty flat over the last couple weeks as the fundamentals are starting to play out. This is a longer term swing trade setup I have on my radar. I am still going to wait for a breakout of the zone we've been stuck in to help confirm my longer term bias. If we can close above my entry level it should be all the confirmation we need to get a push to the upside. I've drawn out several partial profit levels on the way to my longer term target, which is at previous price structure resistance. If we fail to get our breakout and hold support, then this setup may become invalidated.
Long
by The808Trader
USD Strength back? - USD/CHF Ichimoku Long Trade SetupLast week finally allowed for this pair to break up and above previous major price structure resistance. I am now looking for that previous price structure to act as support. Ideally I am looking for a drawback and a good support candle to form to help confirm my bias for a long entry. With the last candle of the week, we may have started that drawback so we'll have to pay close attention here at the beginning of the week. We also have to remember it is a US holiday so things may be a little slow volume wise for our normal New York session. If we can get the drawback to price structure support and hold, I'll enter my long with the targets I have drawn out. As usual I will be taking partial profit at those levels on the way to my longer term target. I also leave some of my position running as long as the trend stays valid so our targets can extend well beyond what I've drawn out. If we fail to get a drawback or if support doesn't hold, this setup may become invalidated.
Long
by The808Trader
Easy Gold Zone TradeIf your a member of mine, these zone should look familiar, we've already grabbed a really nice buy of the bottom of the zone. Now that we've hit the top of the zone we have two ways this trade will likely progress. Looking at past history the most likely case would be a drop back down into the middle or bottom of the zone. Once price drops below our current candle we can look to sell. If we manage to break higher then I will be watching for a re-test of the top of the zone for a buy. So, either scenario shouldn't be too far away, we just need to watch how it progresses.
FX:XAUUSDShort
by The808Trader
More GBP Strength?! - Ichimoku GBP/USD Long TradeThis setup is a continuation on our trade from last week that is currently running in profit. I am looking for a new trade entry to present itself on a drawback to the wicks of previous price structure resistance. If we get that drawback and support holds, I'll enter my long with the same targets as our previous trade that is currently running. This drawback may not come right away, we may get a move up to test the line that is across the flat kumo. So, we'll need to be patient and see how it moves first. If we fail to get our drawback we can also trade a breakout buy upon a candle close above our flat kumo level at 1.2300. If either of these scenarios fail to play out, this setup may become invalidated.
Long
by The808Trader
More Swiss Power!? - EUR/CHF Second Swing EntryThis pair has been treating us very nicely on our swing trade from a couple weeks ago. I am looking to add to it on another break of price structure support. If we can break and close below the new entry level I've drawn out in yellow, then I'll enter my sell and aim for the same major price structure low we've been looking for from our first swing trade. In the scenario that we get a move up first instead, we can look for a kijun sen rejection as an alternative entry. If either of those scenarios fail to play out, this setup may become invalidated.
Short
by The808Trader
Pound Power? - GBP/CHF Ichimoku Long trade This pair got a nice rise at the end of last week, breaking through the kumo before eventually falling back down. We are now approaching tenkan sen in the kumo and I am watching to see if it will act as support for another kumo breakout. If we can get that breakout I've set my entry level at previous price structure resistance I want to see broken to help confirm my long bias. If we can break it, we should be able to climb higher and I've drawn out several partial take profit levels on the way to my overall swing target. If support doesn't hold or we can't break through the previous price resistance, this setup may become invalidated.
Long
by The808Trader
4
Aussie Comeback? - AUD/USD Ichimoku Long Trade SetupThe Aussie has been consolidating for a while now and is attempting to gain back some ground here soon. In order to validate a good entry I want to see the major resistance level broken where I've set my entry. If we can break and close above it, we may be climbing higher. I've drawn out a longer term swing target to aim for as well my usual levels to take partial profit at along the way. If we fail to break and hold about resistance, or if we break downward, this setup may become invalidated.
Long
by The808Trader
Pound to Fight Back? - GBP/USD Ichimoku Long TradeWhile I have a hard time seeing the Pound gaining much strength over the coming months, right now that is where the technicals are pointing me for the time being. We're above the kumo, we have a bullish kumo twist, and chikou span is above price. So, all the bullish confirmations are there that I need. I've set my entry level right above previous price resistance to act as a trigger. If we break that, we should be able springboard off it and climb higher.  I've drawn out a longer term swing target, and as always, lots of levels to aim for partial profit along the way. If we fail to break through resistance and climb higher, or if our bullish confirmations change, this setup may become invalidated.
Long
by The808Trader
GBP/AUD Bearish Trend Trade!This pair fell down below the kumo cloud right through a former kumo twist region. These are ideal areas to look for sell and I'm looking for that sell to continue. There's two ways we can enter into this trade with either a drawback and rejection at the entry I have drawn, or a sell stop below our current candles. We also are close to a bearish kumo twist to help confirm we are due for some further downside as well. If either of the two entry scenarios fail to play out, this setup may become invalidated.
Short
by The808Trader
1
GBP/JPY Bearish Swing Trade- Great Risk to Reward!The pound has been in a week state as Brexit concerns are still swinging their weight. Naturally the yen is going to be one of the safe havens that money will run to and I am looking for that flow to continue. I have two ways to enter this potential sell as I've shown it. Ideally we can look for a drawback and rejection at resistance to get a really good risk to reward for a bearish trend continuation. As an alternative we can set a sell stop below our current candle as we have it labeled and enter on a break of that support. I've drawn out major levels to take partial profit at and watch as we drop towards our overall target. If we fail to get our drawback and rejection, or a break below our alternative sell stop entry, this setup may become invalidated.
Short
by The808Trader
AUD/JPY Quick Bearish Move!This is a smaller move so I'll be risking a little less as far as percent goes for this one. I am looking for a break of the previous candle wick to get short and continue the bearish run we've been on. I've drawn out some partial take profit level to aim for along the way to the overall target. As long as the trend stays valid however, I will keep some of this trade running, beyond the final target of this setup. If we fail to break and hold lower, or if our bearish trend confirmations change, this setup may become invalidated.
Short
by The808Trader
2
USD Strength to come? Ichimoku USD/CAD Long Trade SetupThis pair has been holding it's bullish run, despite it being a bit slow to the upside. At the end of last week broke below tenken sen support so my eyes are now shifting to watch the price interaction at kijun sen. I am watching for a good support candle to form at or near kijun for a chance to get back long, aiming overall for previous price structure highs. I've drawn out some partial take profit levels along the way. If we fail to hold support at or near kijun sen, this setup may become invalidated.
Long
by The808Trader
Trade War Weakness? USD/CHF Ichimoku Short Trade SetupThis pair fell hard with the new tariff announcement from President Trump last week. We are now approaching some important price structure support levels. I am looking at a sell with 2 different ways to enter. The better scenario would be for a drawback back up to where I have my entry line drawn and see a good rejection candle form there to help confirm it's indeed time to sell. The second way would be to set a sell stop at the level I have marked on the chart, a break of that price structure support level should drive further downside action. I've drawn out multiple partial take profit levels to aim for on the way to my longer term target, assuming a bearish trend stays in-tact. If either of these two scenarios fail to play out, this setup may become invalidated.
Short
by The808Trader
Further Kiwi Weakness? NZD/USD Ichimoku Sell This one is a little smaller move than I typically go for, but the risk to reward is pretty solid if we get the entry I'm looking for. I am looking for a good rejection candle at tenken sen for a short term sell. I've drawn out partial take profit levels on the way to my main target. We'll have to be watching this pretty closely at the open as price may react pretty fast. If we fail to hold at tenken sen, then my focus will switch to looking for a rejection at kijun sen to the same targets. If either of these scenarios fail to play out, this setup may become invalidated.
Short
by The808Trader
Long Term Swing - Ichimoku AUD/CHF Trade SetupThis pair had been stuck in a zone for awhile but is now testing a major price structure support level. This is a pretty straight forward setup where I am looking for a break of price structure support for a chance to swing trade lower. I've set my long term target at major price structure lows you can see on the left side of the screen, but we have lots of levels to aim for as long this bearish trend stays valid. I've drawn out horizontal lines at a lot of these levels that I will use for partial take profit levels to aim for along the way. If we fail to break through this support level or continue on a bearish trend, this setup may become invalidated.
Short
by The808Trader