PengyTrades

PengyTrades

this is an update to yesterdays analysis. since there was an OB cross on the stochastics indicator and a rejection of the 50% (equilibrium) zone the I hopped onto the trade at market order hoping to ride the wave down

PengyTrades

1. price created a double top near the premium zone 2. price moved down and broke the bullish trendline and closed below it 3. Created a new bearish trendline with multiple touches confirming that that the bullish move has ended Entry idea: will wait for price to pullback into the 50% zone fora limit order or alternatively wait for price to be overbought with...

PengyTrades

Price is oversold in the h4 time frame according to the stochastic indicator which mean it is most likely going to pullback into the sell order block or liquidity zone then potentially travel down. safe entry idea: wait till price enters the liquidity zone (sell orderblock) and wait for the stochastic indicator to be overbought then enter. or you could set a...

PengyTrades

Earlier this week we had this USDJPY sell setup where price perfectly pulled back into our entry price and even though it's been ranging the trade is now running in profit so if you did take this trade move the stop-loss to break-even (to the entry level) & watch it play out till it hits take profit or you can manually close the trade in profit.

PengyTrades

All major time frames indicate this pair will keep going down. 3 point confluences: 1. Created lower highs in both long term & short term tend failing to break the trendlines 2. We've just got a CHoCH (change in character) 3. Sell order block has formed after going sideways for a couple of days which means price is most likely to revisit it before exploding...

PengyTrades

If you took this trade two days as planned congrats because you are now in profit. With high impact news in a few hours you can Trail stop the trade or manually close the trade half an hr or 15mins before the high impact news. Lets hope it hit TP before high impact news.

PengyTrades

Our trade from yesterday is playing out as I predicted with price pulling back into the orderblock and rejecting it to move downwards. We are currently winning this trade. Feel free to move stop loss to breakeven.

PengyTrades

Here's my 3 point confluence analysis.. I could be wrong so any additional tips on the comments are welcomed 1. USDCAD was on a small uptrend until it broke the trendline then consolidated sideways. 2. After breaking the trendline a reversal pin bar has formed indicating a downward but this wasn't enough to support the idea 3. after a sell order block formed...

PengyTrades

My last idea on this pair did move up & hit TP1 as I predicated. An order block was previously on the same level as TP1 from last week is now gone indicating that this price might move back up. As this is a long term trade it might take a few days to play out so my prediction is that it move down to retest the green oderblock then bounce up. I would exit at TP1...

PengyTrades

With the recent push down of the US index there is a high probably of buying momentum in the Aussie dollar due to weaker US data yesterday. With the SMC indicator in the 4hr time frame we can see a rejection of price to the downside while breaking thought the PML. In my opinion it will race towards TP1 which is a good place to exit since there is an orderblock...

PengyTrades

Following up from our trade idea yesterday we've just hit TP1 Now we wait to see if price break above orderblock & if it does will wait for a pullback & a rejection to enter again for TP2

PengyTrades

After a sharp move up form the discount zone and now consolidating on a FAG there is a strong indication that pair will move up before turning down to follow the overall down trend. Suggestion is wait for a further confirmation by letting the pair break past the PWL level & enter on the pullback & trail stop it to TP1 If price breaks past TP1 level wait for a...

PengyTrades

After an impulsive move up form the discount zone & followed by a bounce off a bullish orderblock with COCH & BOS, strong signs suggest this pair may be moving up. You can take profit at the equilibrium area of TP1 or the upper orderblock at TP2 If you need further confluence wait till price breaks through the current bearish orderblocks below TP1

PengyTrades

GBPUSD is bearish on all higher time frames and looks like it still has a long way down towards the discount zone. Since this will take a couple of days to play out, its best to play it safe and enter on an obvious pullback on the lower time frames such as 1hr time frame to give you a tighter stop loss.

PengyTrades

GBPUSD is bearish on all higher time frames and looks like it still has a long way down towards the discount zone. Since this will take a couple of days to play out, its best to play it safe and enter on an obvious pullback on the lower time frames such as 1hr time frame to give you a tighter stop loss.

PengyTrades

After consolidating around the discount zone without any BOS to the downside we get a COCH to the upside further confirmed by a retest & rejection of the discount zone. This indicated that price could travel up in the next few days heading upto 0.65601 For further confirmation we could wait for the price to break through the bearish order blocks above it or when...

PengyTrades

Despite an overall bearish trend which I think will still continue in the long term, EURUSD has been consolidating the last two or 3 days since reading the discount zone with no break of structure to the downside. All Daily, H4 & 1H chart shows its oversold. Its very possible it might go up and retest the the previous structure/orderblock

PengyTrades

H4 shows it's prepped for a downswing but from the 1h chart it seems like price has to move up to retest the previous highs on the H4 and consolidate before shooting down. I predict that price might have to rise to 155.522 or 156.427 trail stopping every hour would be safe in case it swings back down