ClearEdgeFX

ClearEdgeFX

This looks like a solid set up on EURUSD daily with a number of possible scenarios that one could take advantage of. Firstly, this is probably a good time to go short with a SL at 1.1330 and target of 1.1100. Secondly, one could wait to see if the price will reach the bottom side of the triangle instead of taking the short pin bar set up. If it does then it'll...

ClearEdgeFX

Excellent triangle break opportunity on the 1H time frame. We're looking at 40-50 pip target in either direction and a move down could bring even more. This one has been volatile lately so it could reverse quickly.

ClearEdgeFX

EURGBP is showing a nice upward move on the 4H time frame. We've had three solid bounces off the trendline and we expect for price action to gravitate for one more touch around the 0.7300 level. We're approximately 150 pips away from resistance so it would be sensible to take that into consideration. A downward break of the trendline on the other hand could...

ClearEdgeFX

Looks like a good short-term opportunity to grab 30-50 pips. The upward trend line on 30M has been broken but it's close to support. Only a break of 0.7750 would suggest decent downward momentum. Another way to play it is to go long after a bounce off the support right up to the trend line. A break of the top of the triangle would likely mean that the overall...

ClearEdgeFX

Looks like AUDCAD is quickly approaching a major inflection point. It'll either forcefully break through the trend line or it'll bounce back. 100 pips in either direction.

ClearEdgeFX

For those of you trading the Asian and European session this might be worth keeping an eye on. On the hourly chart GBPAUD is approaching the downward trendline. Strong bearish rejection will be a good opportunity to short, a clear break of the trendline on the other hand will present a good long opportunity of around 30-50 pips on an intraday basis.

ClearEdgeFX

One of the best ways to improve one's trading is to take a look at multiple time frames for a given currency to get a better handle on how price action might unfold. Higher time frames filter out a lot of short-term, random noise and often can give us a better sense of clarity in terms of the overall market structure. In this particular case we see that a triangle...

ClearEdgeFX

For those who enjoy intraday trading this set up should give around 20-30 pips at 1:1 RR. Look for a bullish candle above the triangle or a bearish one below. This pair tends to move well even during the NY afternoon session so it shouldn't take long for this set up to trigger. Remember, patience is everything in trading.

ClearEdgeFX

This has the potential to be a solid breakout after the four touches of the trendline. The stop loss can be at 1.5210 or 1.5175 to give the trade a bit more breathing room. Our first target is at 1.5380 and the second target is at 1.5425. *PLEASE ZOOM IN ON THE CHART*

ClearEdgeFX

For those of you who like to trade news on an intraday basis we thought we'd demonstrate how to do it properly in five easy steps. Of course it doesn't always look this clean and easy but this is generally the approach that we take when it comes to news trading. We look at calendar to see what's coming up, then we scan the various pairs on 5M charts to see if...

ClearEdgeFX

This pair moved an incredible 2,000 pips since the last week of April (six weeks ago). As we can see not surprisingly the momentum is beginning to slow down and we could be entering a consolidation zone in the near future. Should we see a break of the trendline then we'd likely go short targeting the 2.10 level. That said, any bullish bounces from the trendline...

ClearEdgeFX

Since mid-May USDCAD has moved 600 pips and it looks like it's about to retest the recent April highs around 1.2650. As we can see the trendline is quite steep and breaks of trendlines with this level of steepness can be risky due to volatility. That said, if we see a solid rejection candle of the resistance zone in confluence with a trendline break then we'd...

ClearEdgeFX

This is shaping up to be a good opportunity to short if the lower trendline were to break. We should be looking at 200-300 pips with relatively modest risk. On the other hand, a strong bullish candle off the lower trendline would suggest a potential retest of the 1.4670 level. This is definitely a set up we'll be keeping an eye on this week.

ClearEdgeFX

Worth keeping an eye on this downward trendline. Should it break it'll likely test the upper trendline that was recently broken, if not, then we want to be looking at strong rejection of the trendline in order to go short.

ClearEdgeFX

There are two ways to play this classic triangle scenario. For experienced intraday traders one could go short targeting the bottom of the triangle with a SL above 132.10. The more potentially profitable scenario is to wait for the break of the triangle on either side. We should aim for about 100 pips risking around 70 (depending on where the break takes the place...

ClearEdgeFX

This has been an excellent pair to trade in these past few months. The question now remains how far up will it go. After the recent impulsive moves that resulted in 1,000 pips it seems like it's ready to attack the 2.00 level with lots of strength. We definitely want to be keeping an eye on the trendline that's relatively steep. A retracement is a given and we...

ClearEdgeFX

A fairly steep trendline going up on USDJPY 15M timeframe. Should the trendline break we probably wouldn't go short until the price clears the 1.2411 level with a strong bearish candle aiming for a target of around 1.2370 or at least the trendline just above it. The overall bias for this pair is long though so that should be kept in mind.

ClearEdgeFX

Great triangle just formed on USDCAD 15M timeframe. A re-test around 1.2530 is a very likely scenario with a good RR ratio. The trendline is a little bit steep so I would be looking for a very clean break and a bullish candle to go long. Of course we could also see a move downward testing recent lows around 1.2415.