5PMTrader

5PMTrader

Friday's price action rejected a key support/resistance level. I'd like to see an authoritative bearish bar on Monday to confirm the down move.

5PMTrader

As can be seen, the pair made a double top. If you collapse the chart further or switch to a weekly chart, you will see that this level has been respected many times in the past so I am expecting some sort of reaction at this level. I'd wait for the price to retrace a little before entering so as to get a better risk - reward profile. Looking for a 3 to 1 RR...

5PMTrader

NZDUSD is showing signs of its upward trend continuation. After pullback, it bounced from a support level and also from 21 EMA. Looks like it is all set to rock!

5PMTrader

Weekly chart is bouncing of a major resistance zone. From the looks of it, seems like the price has made a double top. If the resistance holds, we may see a downward push over the next several weeks. I will be looking for a short entry setups on daily chart.

5PMTrader

Price has reacted nicely at a level that has reacted as a support as well as a resistance zone in the past. This could provide a nice high probability short entry opportunity with a about 3 to 1 Reward to Risk. I am hoping price would retrace a little to fill my limit order and then will drop to re-test recent low.

5PMTrader

Price rejected a support level. I am thinking it will bounce and at-least retest the recent high. This could be a nice long entry opportunity with about 2.5 to 1 Reward to Risk Good luck :)

5PMTrader

Price closed below a support level yesterday but immediately snapped back above it. Looks like price has created a nice little trading range and if today's move suggest any bullishness, we could see price heading towards the resistance zone as marked on the chart. Let's see if this holds true :)

5PMTrader

Nice trend continuation trade is setting up in EURGBP. Price has been heading down for past few weeks and made a nice big bearish engulfing bar today. If price retraces a little, it could provide a nice risk-reward trade opportunity. Target should be around 2014 low...

5PMTrader

I have a slightly short bias but I am not ready to short yet. I will be following the price action closely in the coming days for any sign of failure to break to the upside.

5PMTrader

Price strongly rejected a resistance level. We may see price moving lower, at least to re-test the recent low.

5PMTrader

Looks like a potential short is setting up in AUDCHF. After a strong rejection of resistance level, looks like price is ready to run towards the other side of the trading range...

5PMTrader

This pair is in a downtrend for a while now. A recent side-ways movement and then a confirming bearish price action signal (a strong rejection of a resistance zone) could mean that the price is ready to make another move to the down side. Please note a long term support level at 0.8600 level (clearly visible on weekly chart). Looks like price is making a push...

5PMTrader

Price is bouncing of a minor support zone. CAD remains one of the weakest currencies out there so this could provide a nice long trade opportunity with a tight stop just under today's bar. CAD weakened further today. I anticipate further upside in this pair. However, if I see price action failing at 1.86 level, I'd take my trade off the table or at the very...

5PMTrader

The price action of this last bar could provide a nice low risk entry in the direction of overall trend. Also notice a clear support zone price bounced off a couple of days ago.. looks like it is ready to break down to a new low..

5PMTrader

Very bullish bounce from a clear support zone. We can also see that the price has made an engulfing bar. A long trade could be possible with stop loss just below the support zone and next resistance zone as possible target.

5PMTrader

Support level is holding nicely. I am looking for long trade on this pair.

5PMTrader

This pair made a bearish engulfing bar. Price could head lower towards the next obvious support zone.

5PMTrader

Nice rejection of a resistance zone. Price could head lower from here.