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Cable at a Crossroads: A Bearish Case for Selling GBP/USDHello Traders! 👨‍💻 Technical: Similar scenario to EURUSD we had a nice shooting star close on the 4h and a nice push exhaustion cycle near the moving averages, but is that enough? well we still have not broken the 1h MA's which would make this trade from good to great, so we need to be careful about that. We also have a strong area of support market with a red line. 🎯 For an ideal entry: Same as eurusd, you either enter now and risk the 1h moving averages will be broken, or wait until they do break, have a push exhaustion and enter short.
Short
by FX-TradingLions
1
Bearish Signals: EUR/USD Sell Opportunities Ahead?Hey Traders! 🔻Potential SELL setup for: EURUSD 👨‍💻Technical: Candlesticks are near moving averages, should be a good turning point for the trade, however the 1h has not yet crossed them, so you might want to wait for that to happen before you enter, we also broken daily trendline with a push exhaustion cycle finally complete, recent shooting star on the 4h does give more bearish bias. 🎯 For an ideal entry: You either enter now and risk the 1h moving averages will be broken, or wait until they do break, have a push exhaustion and enter short.
Short
by FX-TradingLions
1
Swiss Franc Strength Sparks EUR/CHF Selling OpportunitiesHey Traders! A nice push towards the downside broke past the moving averages and came back in, but typically this only means a push exhaustion scenario and a continuation push towards the downside, we already had a break off 200 ma on the 12hourly so likely the daily will follow, I believe this trade currently has around 30 pips profit gain, but once broken the major support level this trade can go much lower. Presidential Day for US & CAD - for fundamentals.
Short
by FX-TradingLions
1
GBP/JPY Short Opportunity: Capitalizing on Channel Structure andI have created this GBP/JPY short market idea due to the favorable technical setup observed in the chart. The currency pair has been trading within a downward channel and the previous high presents an ideal point of entry for a short position. The liquidity at the previous high, indicated by the volume profile, adds to the confluence of factors supporting this trade idea. The downward channel structure combined with the high liquidity at the previous high provides a strong basis for my decision to initiate a short position in the GBP/JPY market. Please note that this is not investment advice and past performance is not a guarantee of future results. Trading always carries risk and it's important to conduct thorough research and analysis before making any trading decisions. Thank you for your attention.
Short
by RobespierreDBeUnlimited
1
Characteristics of Currency PairsHey Guys! Here are some characteristics of currency pairs that I noticed over the years. Perhaps it'll help you find the pairs that best fit your trading style, or perhaps you can use this information as an add-on to your current strategy. Gbp/Usd - Tends to overshoot key levels. - Can use to get better risk/reward. Both on entries and targets. - Can expect many fake breakouts; where key higher time frame levels may be broken on the lower time frames but fail to break out on the higher time frames. Eur/Usd- Tends to accurately respond to key levels. - Can be used for tight stop loss placements for there is no need to add a couple pips for wiggle room on this pair. - Especially on this pair, remember to enter/exit without being greedy or scared. Due to the response accuracy at key levels, price will not give you a second chance to enter a trade or take profits. Usd/Jpy-Tends to have huge moves without price confirmation.In other words, price gets forced up or down by a higher power for months at a time. - Can use to ultimately enter counter the initial direction of the forced move; expecting price to return to fair value. - Can use this characteristic to ride this forced move while not requiring price confirmation for your entry. Usd/Chf- Tends to have false break outs. - Especially on this pair, remember to watch the lower time frame's price action to make sure the break out is legitimate. Eur/Jpy, Aud/Jpy, Gbp/Jpy tend to form trade set ups simultaneously. - If you notice a strong move occuring on the eur/jpy, pay attention to the aud/jpy and gbp/jpy for possible trade opportunities and visa versa. That's it! I hope this helps! Ken
Education
by TradingForexPriceAction
3
GoldViewFX - MARKET UPDATEHey Everyone, Another FANTASTIC day of trading!! We called the retracement yesterday to about 1927 and then targets to 1931, 1940 and 1944, which played out perfectly. We waited patiently for the drop and took the buys to a perfect EXIT at 1944 safely before the drop. Executed perfectly start to finish!! (SEE LINK TO RELATED POST BELOW) We are now sharing the 4h CHART, which highlights a candle body close below 1919 Goldturn, which opens another 1896 challenge. Although my overall direction and setups remain Bullish, I cannot ignore the gap below at 1896. Considering we have FOMC tomorrow, the potential momentum can break 1896 for deeper corrections and therefore we have moved the swing range down to 1875 to manager our risk. We will carefully consider taking BUY positions from deeper intraday support levels but again only take 20 to 30 pips at a time to allow safe exits. If we see negative pressure on Gold, I will only pick sells from re-tested resistance levels and again playing 20 to 30 pips at a time. The chart highlights a roadmap for the potential movement we will track. As always we will keep you updated with any changes to our setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
57