EJ IS IN AN ELLIOTR WAVE PATTERN. After completing 1,2,3,4,5 phase we might see the a,b,c pattern afterwards. confluencing with the channel as well as the minor resistance it broke through and is currently retesting, this trade could be a pretty good one.
USDCAD broke out of a trend-line that it had been respecting for a while and based on this, I think i think it is a good short opportunity of Risk to Reward 1:5. I had been waiting for this breakout for over 2 weeks and now with a good closure on the 4H we could see the price coming back down to 1.33000. The slop loss is just above the minor resistance that is...
I am currently in a LONG position for AUDUSD and believe it is going to be a double bottom trade. It is on a support level and with the stop loss just below that, its worth taking for a very good reward potential. In addition, with the wick filled in and the 4H ending in an indecision after such a long sell off, It is time for the bulls to buy in.
GBPJPY seems like a good short term buy due to a bounce off of the trendline that it is respecting. Also due to the high sell of of this pair that went for a while, it is oversold and thus needs a pullback before continuing it's momentum - REMEMBER THE RULE OF MARKETS - SUPPLY AND DEMAND. I am looking to take profit of 100 pips at around 140.7 though I will be...
USDCHF has come back up to retest the previously broken support and will now act as resistance. With the USD weakening, I believe that This pair will have the same confluence. I have a bearish bias on USDCHF and will short it once the price reaches 1.01200
GBPJPY has been in a huge downtrend for a long time. Since the past week, it has been very bearish, breaking the previous support and now stands at one of the daily support level. Historically, these kinds of huge bearish run without a retracement have been unsustainable which is why I am placing a buy order at this level for a reversal. The stop loss would be...
Looking at CrudeOil, it has been consolidating in a range for a while. While there were two fakeouts on this occassion, the price ultimately went back into the range as highlighted in the box below. With the US Dollar Weakening, I am looking for a breakout to the upside and a retest to confirm a buy order. A descending trendline has been broken already but the...
The picture provided shows EURJPY in a very interesting wedge scenario that we could take advantage of. There could be either of the scenarios playing out which I am ready to take buy or sell order on depending on the reaction of the price:
1. Either the price breaks of the wedge to the downside. I could either place a sell order below the support zone...
Gold is in an interesting spot right now (pun intended). With an overall bearish trend, I am looking to add it to my short position at 1286.28. After price recently broke through that level, i believe it will come back and retest that level. With the 14 EMA cross a reliable trend that has held up very well, this seems to be a promising trade.
GU has been in a long bearish movement for a long time on the weekly and I believe this will continue for a while. Price broke off from a wedge formation and after price reaches back to 1.3007, I will place a Short position which I will ride until 1.29078 and further down. With a tight stop loss and confluence with other USD Pairs, I believe this position will...
GU in a channel currently and sitting on a nice daily key level there. Very strong opportunity for it to head to the next level highlighted. Good for 30 to 40 pips LONG.
