AffluentTraders

AffluentTraders

Looking at the GBPUSD monthly rejection point also known as support and resistance lines or memory. GBPUSD was currently on a weekly low and moved very rapidly to the south with a strong rejection at 1.32551. This could signify a change in trend or a continuation of previous support or resistance pattern, I'm risking 20 pips on this trade with a 2/1 R/R. 2% Per...

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Looking at my chart, we have 6 blue hearts and 2 blue ones. I'm taking those as my Support and Resistance respectively for this setup. I'm risking 7 percent on 7X Margin 49%. I'll hold for at least 2 weeks and see what happens. Thanks, I'm also using rumors, most traders are saying the current bear market won't last for long so let's see If we can catch the very bottom.

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Looking at the 4-hour candlestick on GBPJPY. Price formed a falling wedge and broke above the resistance early this morning GMT+1. That's a signal for a change in trend from the downside to the upside. Looking at the 100,200 and 50 EMA. The price I well above and confirms the bull sentiment. The first hurdle will be around the 154.667 prices, that's Wednesday's...

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Looking at the monthly price chart. EURNZD is currently on monthly lows. The move that brought the price to recent lows was a big sell-off in October. My RSI is a bit oversold and My sentiment on NZD is Neutral. A positive Q3 GDP might start to add some strength to EUR and validate the support. Looking at the daily, the price is still at support. Looking for a...

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Good morning everyone, I am basing this trade on a few principles and I will state them below. 1) Transitional Turning Point: Prices don't just reverse a trend without a transitional moment. This means it's common to expect a ranging moment before a change in trend. 2) Channel Completion: The current market price action is a channel, we have created support below,...

AffluentTraders

GBP is currently on monthly support. GBP fundamentals are weak and I don't think this support will hold. Expecting further movement towards the south. If the price holds and closes today at current support then this setup is invalid.

AffluentTraders

Looks like AUD just approached Major support zones on most pairs. Expect a slow down in the seller's pressure and an increase with buyers. Targeting a 2% move to the upside within the course of the week. I'm In @1.03605, 0.2 Standard Lot. I'll swing on this and monitor the Fundamentals as we go. Remember Forex trading is tricky so Risk only what you are willing to loose.

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The AUDCHF is currently on support drawn by connecting the two lowest lows, on the 3 minutes. I drew a small circle on the chart, this serves as the presence of a fake-out or a spike. If the price breaks through(above) the descending angle, that will serve me as an indication of the change in trend. At least temporarily. My stop loss is on the purple line below...

AffluentTraders

The AUDCHF is currently on support drawn by connecting the two lowest lows, on the 3 minutes. I drew a small circle on the chart, this serves as the presence of a fake-out or a spike. If the price breaks through(above) the descending angle, that will serve me as an indication of the change in trend. At least temporarily. My stop loss is on the purple line below ...

AffluentTraders

I just got into a short trade on USDCAD 1.24072, 0.05 Standard. I got into this trade because of the huge sell-off on 24th October when the price approached the 100 EMA, the price is most likely to get at least a temporal sell-off at the current market price to retest the 50 EMA. If the price breaks and closes below the 50 EMA, well get a test on the weekly low @...

AffluentTraders

It all started from the monthly. Looking at the 1 Month chart, I Identified the support and resistance areas. I noticed the price broke above the monthly resistance and held for a while. I zoomed in to the weekly and drew my weekly resistance and support, the weekly resistance is the same as the monthly. Next, I moved to the daily and noticed the descending...