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Short On USD/CAD SELL SELL SELL !!!Reasons For -We are now down trending on the 4 hour chart -We always want to trade in the direction of the trend -We are making lower lows and lower highs -We are trading below key level at 1.4000 Which we broke with a strong downside move -If we put a Fib in from previous Lower high to the new Lower low price is reacting to the 0.618 Level -Sign of retrace Over ? -We have put in two dojis in on the 4 hour time frame -We have also come to our trend line that is acting as Res and also showing signs of bullish weakness So if we put all those together on the 4 Hour time frame we are extremely bearish If we look at the daily -We are also making new lows and currently in a new forming down trend The trend is your friend -The biggest confluence for me is we have broken the previous higher low on the daily when the uptrend was in affect we have come lower then the previous higher low Which also signifies a change of trend and direction -So after all the bullishness over the past couple years isit over ? well for now we are in full affect to make a new lower low in this current trend which is at 1.3500 Heads up Remember guys this pair is heavily influenced by Oil so it is a more risky pair to trade but in terms of technicals it is a great setup :) Also my entry is very aggressive id recommend waiting for a strong bearish candle on the 4 Hour time frame to confirm more confluence and be a strong selling setup as it confirms our momentum which is bearish So id Recommend waiting but if your a risk taker like me join me lol ;) Only 65 pips Risk well worth the risk with a great Risk Reward of 1:6 :) Trade safe My entry 1.38897
Short
by ARFXC
38
Long On AUD/USD BUY BUY BUY !!! (Risky) Reasons for -Firstly on the 4 Hour time frame we are up trending -There is a major trend line above us so therefore i believe that is prices next level before any bearish movement -We are making higher swings after coming down to our Trendline below price which is acting as support -We have clearly seen a reaction from this trend line acting as support as you can see we have bounced of with a very Bullish candle ! -We also trading above major key level of 0.7000 so best thing to do on the 4 hour is to buy Anyways like i said this trade is more risky simply because on the daily and higher time frames we are in a strong downtrend. Until we break the trend line to the upside then i will look for long term buying setups But i would be very careful of this setup guys as the best thing to do would be to sell but i will be looking to sell in the near future Also its a small stop loss of 30 pips which is extremely low risk :) My entry 0.70555 Trade safe guys good luck RISKY TRADE SETUP !
Long
by ARFXC
32
Long on EUR/USD BUY BUY BUY !!!Reasons for -Firstly as we can clearly see we are in a Triangle formation -We have had multiple bounces from the Bottom trend line which is now acting as Support -The previous Four hour candle was a doji on the trend line -Now this 4 hour candle stick is forming a nice big bullish candle which signifies Bullish momentum from Trend line acting as Support -We have also priced in Higher HIghs -Although waiting for a break of the triangle formation would be the best thing to do i am more then willing to take a risk and only give away 50 pips if its Stop loss and if it hits Takeprofit then we will make a nice gain of 140 pips Key risk management and risk reward is KEY :) Remember History repeats itself My ENTRY 1.08434 GoodLuck everyone ! Happy trading :)
Long
by ARFXC
30
Long on EUR/JPY BUY BUY BUY Reasons For -We formed a triangle formation having multipale bounces on either side -We broke to the upside -We have got our retest which is key in my strategy and has put in bullish movement -Price has put in bullish hammer and then followed by two strong bullish candle clearly showing momentum to the upside Daily -We can see 3 bullish candles we are in the direction of the momentum which is key -Todays candle is looking like it will form a bullish hammer (Sign of bullishness) -Lots of long wicks too the downside which signifies more buying pressure Weekly -Price 2 weeks ago put in a doji -Last week price put in a bullish engulfing -On weekly timeframes when a engulfing happens it is a strong confluence -All these signs identify for me a strong buy setup :) My entry 128.465
Long
by ARFXC
6
Short on Aud/Nzd SELL SELL SELL !!!Reaons for -Firstly we are forming a triangle -We have just bounced of the trend line with a bearish engulfing -Also a bearish hammer has been put in place -We also tested this area a on Thursday and rejected this zone there fore i believe it will do so again Price action leaves clue in structure :) If we go to the daily Timeframe we can see -Lots of long wicks to the upside suggesting more selling pressure -Price bouncing of trend line acting as Res This setup aint the best simply because we prefer setups that include breaks of trendlines or triangle formations etc but it will do as theres not alot going on in the market and lots of news about altho its a good setup just not as many confluences we would like our entry 1.07731 Happy trading :)
Short
by ARFXC
1
Short on USD/JPY SELL SELL SELL !!! (Risky) Reasons for - Clearly price is putting in lower lows and lower highs (Clear Downtrend) - Price broke key level at 120.00 A week back so we maybe heading to next key level ? - Price has put 3 touch on short term 4 Hour trend line - Price put in doji the a bearish engulfing and clearly bearish candle then another bull green candle then another gearish engulfing so clear sign the sellers are in control at the moment pushing price down - We are creating a type of right angle triangle with key structure level (Meaning a strong push of the breakout will occur) - Daily - Previous daily candle was a bearish hammer - On the daily we are clearly down trending so we are following the trend (The trend is your friend) - We are also making lower swings - Price is trading bellow previous key level before cleared on the daily and weekly (A sign that we are looking to go to lower level if enough momentum) So all these confluences clearly show more potential to the downside therefore i will be entering My ENTRIE WAS 117.216
Short
by ARFXC
2
USD/JPY drops to test 118 despite positive China openUSD/JPY upside capped by 5-DMA Currently, the USD/JPY pair trades 0.57% higher at 118.30, holding on the recovery above 118 handle. The major failed to sustain at higher levels and edged higher following a relief rally seen in the Asian indices, especially with a positive opening in China’s stock markets. The Chinese benchmark, the Shanghai Composite (SSEC) index jumps +2.23% while the Shenzhen’s CSI300 index also rallies +2.35% in opening trades. The USD/JPY pair moves-off highs post-Chinese open as markets had already priced-in a rebound in China stocks and the resulting risk-on sentiment sent the pair higher to daily highs at 118.58. Moreover, the spike in the major could be also attributed to the lower yuan fix by the PBOC today, which offered some respite to the USD bulls. Looking ahead, the sentiment on the global equities will continue to have major influence on USD/JPY. Besides, the US non-farm payrolls data is expected to emerge the main market mover in the NY session. USD/JPY Technical levels to watch In terms of technicals, the immediate resistance is located at 118.58/60 (daily high/ 5-DMA). A break above the last, the major could test 118.76 (1h 100-SMA). While to the downside, the immediate support is located at 117.78/77 (1h 20 & 10-SMA) below which 117/ 116.95 (psychological levels/ daily S1) would be tested.
Short
by Kiavash
Shorting EURCAD at important level and "Broken fang"The EURCAD has multiple times hit the important level of 1.463 (purple box) but has now finally broken through it. We look to short it when it retests this level as we then get what i call the "broken fang" setup meaning that price prints lower lows but equal highs. Our stops go above the resistance box and I'm hoping to catch a 1:3 on this one as price should come back down to at least 1.447. Moving my stops to breakeven when price hits 2/3 of profit. We can also see that we are currently in a downtrend (Lower highs and lows indicated by the blue lines). Good luck everyone and as usual, hold your thumbs!
Short
by TheSupportResistanceTrader