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The808trader

Pound to weaken more? - Ichimoku EUR/GBP setupIf you're in the mentor membership this setup will look familiar. We've already capitalized on the move down as you can see from the completed trade on the left. No we'll be looking to capitalize on the move back up. We got a nice little rebound last week and are close to a kumo breakout. I am looking for support to hold at tenken sen to get in a long entry. If we see a good support candle or nice bounce off tenken sen and out of the kumo that will be enough of a final confirmation for me to enter. If we fail to hold support at tenken sen, we may get a better entry if kijun sen holds support and with a similar setup, we get a kumo breakout out of it. If we fail to hold support or get our kumo breakout, this setup will likely be invalidated.
Long
by The808Trader
Kiwi dominating the EU? Ichimoku EUR/NZD setupWe've been on a nice bearish breakout and we've broken previous price structure lows so I am expecting some more bearish movement with this pair. I am setting an entry as a break below our current candle, but as an alternative we can also look for a rise and rejection at tenken sen since we've been holding it so well on this bearish trend. I am targeting the flat kumo on the left side of the screen.  We may even push further than that, but its a good intermediate target to aim for. If we fail to form a lower low or find resistance at tenken sen then this setup may become invalidated.
Short
by The808Trader
The Kiwi Ripe? Ichimoku NZD/USD Long Trade SetupWith the fundamentals at play last week we saw some big movements across most pairs including the kiwi here. Due to how quick it climbed I'm expecting a nice drop to test our previous support level which is where I'm anticipating tenken sen being as well. If we can get that drawback and support hold with a good candle, I'll look to enter there to climb back to our structure highs. As an alternative, if we consolidate and move a little sideways here I will trade a break out of this current resistance level I've noted with a blue horizontal line. If we rise above that and either close or look strong, I'll enter a long that way. If either of those scenarios fail to take place, I'll consider this setup invalidated.
Long
by The808Trader
Pound the Swiss? Ichimoku GBP/CHF trade setupAnother GBP/CHF trade setup on my list this weekend! We've continued our bullish run with this pair and I am looking for trade it up to our major resistance level where we were rejected previously several weeks ago. Since we are so close to that resistance level I'm wanting to enter on a drawback to help limit risk. I think a breakout trade here just wouldn't quite give me the risk to reward entry I would want for the risk exposure I'm looking for with this pair. So I would really like to see a drop to tenken sen for price to hold with a good candle which is when an entry would be confirmed for me and I would enter. If we fail to get the drawback or hold support upon a drawback, this setup may become invalidated.
Long
by The808Trader
GBP/CHF - time for an early reversal?With this pair we've seen a big move down over all the fundamentals at play with EU and Brexit situations happening in Europe. We are still holding here at tenken sen so I am looking for a technical indication for a chance to get into this bearish trend. There are a couple ways I could approach an entry here but I am going to look to enter on a break below our previous candle low. I've laid out a longer term swing trade target in the image, but I will also take partial profit to reduce my risk if we break below the recent price structure low at .8768. I do see kijun sen flattening out a bit which is typically a sign momentum is slowing, but that my just be the case since we had a really big move with the news. Still, something to watch as a move back up kijun sen will invalidate this trade setup.
Short
by The808Trader
USD/JPY - Fundamentals and Technicals at workThis may look a little confusing but I've added a secondary entry on top of our original entry. We're already 80+ pips in profit from last week's setup, and I confirmed our entry in the trade room as well, so if you're a member you should have some profit rolling if you followed me into this position. There are a couple things to think about this week with this pair regarding fundamentals. We still have the government shutdown, the US markets will be partially closed Monday, and rumors about easing Chinese tariffs help perpetuate a strong dollar. So we need to be aware of those 3 things moving forward this week, especially the news about the tariffs. From a technical perspective I am looking to enter a buy off a good candle if support holds which is why my entry line is a little below current price. I've set my stop for this entry just below the previous price structure low, as a break of that area would invalidate this setup and trigger a good time to exit. If we fail to get a drop to support, or fail to hold that support, this setup may become invalidated.
Long
by The808Trader
Lower High to form? EUR/CHF Ichimoku Trade SetupI know a lot of my recent setups have been on the swing trading side of things so for this one I'm going to look for a little shorter of a move. This pair has fallen down to kijun sen and is holding support there currently. I am looking for a move back up to grab some brief profit. It's worth noting that I am setting my TP at a level that I see us forming a lower high at. I do not believe at the moment that will will get any higher than the last price structure high. We may not reach as high as my final TP but I'll be adjusting my stop loss regularly every 25 pips or so if we enter and go into profit. If we fail to break higher or hold kijun sen support, this setup will become invalidated.
Long
by The808Trader
Yen finally Stabilizing? USD/JPY Ichimoku trade setupThis setup will probably be a little bit slower to complete if we do indeed get the move back up to the levels I want to see. We are still recovering after the flash cash so price is still trying to stabilize. It is still a little early to tell but it looks like we may have finally found some solid ground. We have the kumo breakout and bullish kumo twist, but I really want to see a bullish TK cross complete, which should line up with a break above resistance where we've been held previously. That's where I've set my potential entry, but like I said, I want to see the breakout coincide with the bullish TK cross to act as my final confirmation as a buy entry. I've also drawn out a few partial Take Profit levels in blue horizontal lines where I'll look to minimize my risk and take some money off the table, assuming we get the move up and confirmations. If we fail to hold support, get the TK cross, or breakout above my entry and resistance area, this setup may become invalidated.
Long
by The808Trader
Pound done taking a pounding? - GBP/USD Ichimoku SetupThe Pound has been slowly regaining some ground against the USD amidst Brexit and concerns over the US Government shutdown that is still in effect. Since the big move up we have been holding support while forming higher highs and higher lows.  Adding to this the ichimoku confirmations that we currently have, I currently have a bias to the upside. I am looking for a good entry to get long which would coincide with a drop to tenken/kijun support, with a bounce up. So, I'll be watching for a good support candle to hold there to act a springboard for a further move up. I've drawn out my stop loss and longer term TP assuming I find a good entry and support candle, and I've also drawn out some horizontal lines at areas I'll look to take partial profit to minimize my risk. If we fail to hold support or climb higher, this setup may become invalidated.
Long
by The808Trader
GBP/CHF - Time to Play the Zone ?This is going to be a zone play, which is outside our typical ichimoku setups. When pairs stop trending it gets a little harder to trade with ichimoku unless you are on a really small time frame, so instead we'll be look to trade the consolidation zone. I am watching for a rise back p to the top of this zone, and a good rejection candle there to take a short. I've drawn out partial take profit levels for us to aim for as we then look to ride it back to the bottom of the zone. Since we are in consolidation this one may take a little longer to develop. If we fail to get a good rejection at the top of the zone or we break out of this larger zone, this setup may become invalidated.
Short
by The808Trader
EUR/AUD Bearish Run to Continue? - Swing Trade SetupWe had a big move down after the flash crash but this bearish momentum has continued to hold sway. Based on how fast we moved last week we will probably get a drawback first, but I am looking for a strong bearish breakout to stay below  the kumo and break the support line I've drawn for entry. I've drawn several targets including my long term one as our final swing Take Profit level. We do have a bearish kumo twist already and chikou span is below price and clear, but it would be helpful if chikou span can get below the cloud as well. If we fail to move lower or break our support line for entry, this setup may become invalidated.
Short
by The808Trader
Oil Bearish Run Ending? - WTI Crude Oil Swing SetupOil finally found some footing after supply was cut. There is still some lingering doubt whether more cuts will be made or not, but for now we are on the bullish side of the kumo. We had a bullish kumo twist, a bullish TK cross, and chikou span is above price. I am looking for a drop to tenken sen for a buy entry. I want to see a good support candle form there to help confirm it is indeed time to buy and not a fake out. I'm setting my stop loss pretty tight, just a few pips below kijun sen since I don't want to be caught on the wrong side of this trade. I've also drawn out some other partial Take Profit level on the way to my medium term target here. If we fail to hold support or climb higher, this setup may become invalidated.
FX:USOILLong
by The808Trader
GBP/AUD - Ichimoku Trade Setup- Time to regain ground?This pair has held support but I am still watching for a break of resistance to enter a short term buy trade. I've drawn out my entry and TP lines on the chart. If you notice for the setup on this one, I'm actually placing my TP and SL slightly off of my lines to get things a little room to breathe since this is such a tight trade. As soon as we break into that zone and hold I'll be getting long and may even hold past this TP level with a partial position. I'll have to be careful with this one due to the Brexit madness that is going on right now so I will only be risking 1.5% of my capital on this setup to be pretty conservative. If we fail to break into that zone or hold bullish confirmations, this setup may become invalidated.
Long
by The808Trader
4
USD/CHF- Ichimoku Chance to get Long!We got a bullish kumo breakout and twist towards the end of last week with this pair. I am now watching for a tenken sen bounce trade entry for a chance to get long. I want to see a good drop to tenken sen and support hold to help confirm the bullish bias we're seeing right now. I set my TP at a previous resistance level if you look left of where price is at currently. If we fail to hold support or break higher, this setup may become invalidated.
Long
by The808Trader
1
Crude Oil - Ichimoku and Fundamental Longterm SwingOil has fallen along way since our rise to $70. We are now holding in consolidation going sideways. I am waiting for an entry into a possible long term swing trade back to the upside. Fundamentally OPEC will probably cut supply again soon which will raise prices. This will coincide with a breaking of the resistance line I drew at our entry level. As soon as we break above that line it will confirm my bullish bias, and I'll enter a long position. I've drawn out this TP as a short to medium term target, but I see the potential for a much larger swing trade to be in play soon. If I enter this setup I will hold onto a good portion of it for that long term swing back up to the $65 to $70 level. If we fail to break higher or hold bullish confirmations, this setup may become invalid.
FX:USOILLong
by The808Trader
4
AUD/JPY - Ichimoku Breakout Sell TradeWe got a big bearish move last week followed by a drawback and textbook tenken sen bounce trade. I am looking to hop on that trend with a move further to the downside. I've placed my entry below the candle of previous support and I've set my TP at an area of past support if you look left of current price. It may push on from there so I will only close partial position if we hit this TP, and let the rest roll, adjusting my stop loss periodically. If we fail to break lower or hold our bearish confirmations, this setup may become invalidated.
Short
by The808Trader
1
USD/CHF - Ichimoku Bearish SetupWe finally got a break below support in the channel we had been following for a while and now I am looking to take advantage of the bearish sentiment we're seeing. I'm going to use a move below our current candle as an entry with my TP at a previous major level of resistance to the left of current price. As an alternative I may wait for a rise and rejection at tenken sen for a better risk to reward ratio on my entry. If either of these two scenarios fail to play out, this setup may become invalided.
Short
by The808Trader
1
USD/CHF - Ichimoku Long Breakout Trade SetupWe found support twice but have been moving within a pretty narrow band as we've moved sideways. With the good economic data the US has been getting combined with the news that China and the US are putting their trade war on hold, I'm expecting a move up here. I'm looking for a kumo breakout to enter since we already have a bullish kumo twist and bullish TK cross. We may get a slight drop first but as soon as we get that breakout I'll get long. 
Long
by The808Trader
EUR/NZD - Ichimoku Daily Drawback SetupYou can see the play from last week to the left of this setup. It went really well for us and I announced in the members area where I was getting out of most of the position. We were able to snag 100 pips or so and I'm looking for an even bigger drawback based on the daily chart, looking here on the 4 hour for entry. I've drawn out the first major level of resistance on the daily, but we may be able to expand far past that depending on if we see a rejection there or not. We do have the bullish kumo twist and I'm looking for a bullish kumo breakout to help confirm an entry. Remember that this setup is a drawback based on the daily, being such is inherently higher risk. Since it is higher risk, I'll be taking 2% risk on this position should a good entry present it self. If we fail to breakout bullishly or form new higher highs and lows, this setup may become invalidated.
Long
by The808Trader