AdetuRidwan

AdetuRidwan

With price congesting on the support area, coupled with an indecision candle on an area of value, a good entry point is set with the target at 1.11874. A long trade is viable.

AdetuRidwan

The USDCHF pair seems to be in on a remarkable reversal run after the preceding bullish trend on the formation of indecision candle on resistance area at 0.99397, with target and stop at 0.98843 0.99505 respectively, alongside a sound risk to reward ratio of 2.08.

AdetuRidwan

Earlier before market opening, i shared some trade setups, right now USDJPY is one of them and my entry price has been triggered with a target at 108.077 and stop-loss at 108.832 with a fair risk to reward ratio of 1.67

AdetuRidwan

The Newzealand Dollar pair smashed through the support level 0.66737 on the 25th of July, now approaching the support level 0.66026. Price reversed on this level on the 9th of July, should we expect the same ahead of market opening.

AdetuRidwan

Buyers are losing steam ahead of the resistance level 108.856. A reversal trade could be in play with target 1 at 108.054 because price stalled in that level for some while and target 2 should be just before the support area at 107.948

AdetuRidwan

Awaiting price to approach resistance level at 1.79825, on the formation of an indecision candle a short trade seems likely with targets just before the support level at 1.77583

AdetuRidwan

The EURUSD is slowing down at 1.11273 support level. Expecting a reversal towards the 1.11874 resistance level or a break of the 1.11273 support level while approaching for the 1.09949 level which seems unlikely...

AdetuRidwan

The EURUSD forms an indecision candle on support, the idea of going long is a viable one, with the drawing tool of long position, the entry price is few pips above the previous price high and stop loss below previous price low.

AdetuRidwan

Taking a soft look at the bigger picture on the daily time-frame, clear trend channels and Support & Resistance levels are drawn with the market structure identified as a ranging market. Also, series of test of both trend channel render it valid as good entry points for swing trading. However, take note of the zones between 0.74802 and 0.74456 when going short...

AdetuRidwan

All right, I am keeping this simple. The JPY is one of the weakest currency for the day, and with the USD bouncing upward with share force, the best trading direction is to follow the trend and take profit at the previous resistance level(Red horizontal line).

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The Dollar-Yen moving above the 20MA and 100MA but with the 200MA Still indicating sideways direction, the potential move is to go long i target of the red circled area(The 200MA) as a likely take profit if the 200MA does not correct towards the direction of the buyers. However, keeping track of the trend line in the chart and keeping a trailing stop loss just...

AdetuRidwan

In reference to my previous post, we now have a successful breakout of the channels and the bias is fully bearish, go short!

AdetuRidwan

With the NZDUSD pair crossing below the 100 MA and 200MA but consolidation within an upward channel(blue lines), with evident more pressure towards the breakout to a full bearish bias. Waiting for the market to play out of the channel will provide clearer insight as to its direction.

AdetuRidwan

With a bounce off on support at 1.12791, while trading within the zone at 1.12875 and 1.12791, a breakout of support could be foreseen or a test of resistance by buyers at 23.6% fib level (price 1.12977), keep holding and for new entries wait for the test at the 23.6% fib level before considering opening a position.

AdetuRidwan Updated 

With the EURUSD pair smashing through the 200-hour moving average and approaching key support level at label 2, there is a potential entry point to jump the trend if a break out occurs successfully. Approaching the 1.12720 support line, without any sign of buyers consolidating the sheer force of sellers in the market, paying attention to your RSI indicator...

AdetuRidwan

Following the trend analysis approach, with price crossing above the 100hour Moving Average at 81.360 with the red trend line serving as support, the bulls potentially have displayed a sheer force in staying far away from the 100hour Moving Average. However, are the bulls losing control or do we have a potential retest on the trend line which could serve as...

AdetuRidwan

The CAD/JPY pair has a similar price movement with EUR/USD, but following currency strength, the CAD/JPY seems viable. With the CAD/JPY approaching to test and break through previous resistance areas, there might be a bull run towards 81.118 if the pair breaks through the resistance at 80.992 taking the risk, I recommend a long position alongside trailing stop...

AdetuRidwan

From the chart above we've had a series of the ranging market, then a breakout by buyers which was followed by consolidation within the downward sloping trendline, with obvious indications on weakening buyers pressure. The bearish candlestick is testing the 200EMA, which could signal a possible breakout for going short on the 1hr chart.