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Trendcontinuation

GBPJPY - Long - Daily Chart - MACD Continuation TradeEntering on a bullish MACD cross while ABOVE zero-line , signaling bullish continuation. Note that I use MACD ONLY for continuation and do not attempt to find reversals using the MACD as I do not find it to be very accurate in FX Trade is on the daily timeframe and has a 1 ATR stoploss (148 pips), 1ATR target 1 where I take 50% of my position off and move stop to breakeven, then I use a trailing stop following the other 50% of my position setting my stop at the low of each subsequent daily candle that continues higher. These trades can take many days to play out and I often hold over the weekends, do not take this trade if you struggle to control your risk or are uncomfortable holding for weeks at a time. I expect this setup to go against me over the next few days as this was already a strong move up and may need to cool off for a day or 2, I expect to hit profit targets sometime next week but don't trade based on time. It is also important to note that I normally allocate up to 1.5% account risk on continuation trades however I do not risk over 1% when I trade GBP (due to the fundamentals around Brexit). A similar trade to this could also be expressed by shorting EURGBP although that pair has not made a signal on the indicators yet and is most dramatically news driven. The historical probability of MACD continuations on the top 20 fx pairs (with my 1ATR parameters) is around 68%, please perform your own backtesting of this strategy as you can achieve higher or lower probability results using different stop losses and profit targets. Best of luck traders.
Long
by CT-Jaguar
1
EURUSD. Possible way is the Short Way.We have seen the price decline on the pair for over a week. Although the price has tested the Swing Lows on Daily Time Frame and failed to continue below, the Shorter Time Frame. Going down to 1 Hour, we see that the price has bounced back after testing the Higher Time Frame Support Levels. For majority, this might feel like there is a change in trend, I see that this is just a reaction to the obvious support zones visible on the chart. As the Price Bounced back, we see that it hasn't been able to crack the major bounce that came prior to the current one. In addition, the Price has seen a break below the visible Support Zones. This tells me that Price has maintained its behaviour a the lower levels while its failing to maintain the change in behavior at the the higher levels. This rejection of change in PA tells me that the pair is bound to fall back in trend at least till the lows are tested again. My idea is that a short in the zone marked keeps us on the right side of the trend. My strategy will have moved me into position already looking at the current Price Action. Lower Time Frames will be a good guide for Intraday Opportunities as well.
Short
by PavanKulkarni
NZDJPY SellNZDJPY had an aggressive sell on Dec 2018 from 1 to 2 it took 20 candles and it went down for almost 960 pips strong bearish candles and only few bullish candles in 2019 this pair was in retracement mode from 2 to 3 it took 23 candles to rise 670 pips very weak bull candles and many bearish candles this is telling us that sellers are still in control of market and they will push the price down finally it made a tight rising wedge to the 61% fibo level 6 Feb 2018 it printed a nice bearish breakout candles that engulfs 7 previous candles a sell stop few pips below the minor support 74.400 will be perfect for entry stop loss is above the 61% fibo level first target will be last low which gives 1.4 R on this trade second target will be 69.100 which is 6 years low
Short
by Ramin_N
BTC has to go down to keep up with trendHi guys, I am happy that my previous prediction played out very well. This is how I see where price is going from here onward. There is an obvious downtrend for BTC. By matching this period trend with previous period trend, we have to drop by about 9.35%. That is my target. If this target is achieved, we can confirm a descending triangle. Then we will see a retest of the upper resistance line of the triangle, before coming down. One advice from me: 200 MA works like a beast. It is a simple strategy to earn money. Just use it if you are struggling on consistency.
BITSTAMP:BTCUSDShort
by Kuaji