EURUSD looks to be coming back up to retest 1.17500 to potentially then short from this level. However, if the pair does break through the high we need to be ready for a break and retest to buy up to the next relevant high.
Being a retail trader isn't so bad as long as we can utilise all of the tools in our belt correctly. (Trendlines)
EURUSD has been pushing up today, potentialy to create the weekly high to short further. If this is the case I am looking for the pair to retest one of the zones marked out to reverse and short down. Our 50% retracement level does sit nicely with the higher of the two zones.
After slight alteration and fine-tuning, the stop-loss was moved to a more appropriate level. This did increase the risk of the position from 3% to 3.5%. However, it seemed fitting for a more successful trade. Now that we look to be in the clear as a double top has to form, we could look for another entry on a break and retest of the neckline.
EURUSD has been pushing short for several days now and I have managed to scale in on a second entry. Using the group's four-hour break and retest strategy alongside institutional levels and session breaks.
I have entered a USDJPY long position after a break of august monthly low back inside the range on our four-hour charts. from this, we have seen a retest of the level 105.20 for the pair to potentially push up further.
ICI strategy. Being a retail trader isn't a bad thing!
USDCAD has pushed up through our level of "resistance" and now looks to be coming back down to retest as "support" form this we will be looking to scale in on another entry and ride it all the way up to our next swing high.
USDCAD has been pushing up nicely for the last several days and is currently on its way to our second take profit.
A second short entry is currently valid based on a break and retest of previous months low and flat level of 105.000. We have then seen a further push and then retracement to institutional levels.
USDCAD has pushed down to where I am looking to enter a long position. However, the trade has not been enter yet as we do not have the correct conformations. Price reaching our Fibonacci retracement levels is only half of our analysis. We need to be looking for price to reject from these levels and begin to turn back over, an example of this could be another...
Identifying price action and support and resistance to break down charts and their future moves.
USD JPY is currently trading in between August the previous month's range, with volume pushing down. What we can currently see is a small pullback, potentially to one of our Fibonacci retracement levels to then push down further and reach Augusts low.
USDCAD has pushed down a little further than expected and suggested in one of my previous posts. It has fallen past the neckline of the "double bottom" and is now sitting at a key level of support. If the pair is to break below this level, then we can expect to see the pair fall further, perhaps to a region near Augusts monthly low.
USDCAD has been pushing up from the level 1.29950 for several days now, creating bullish price action as it moves (higher highs/higher lows). The most recent move wicked above a previous high/area of resistance before pulling back to our 50% retracement level and forming a double bottom. From this, I anticipate the pair to push higher if what we can see now is a...