TheFxAce

TheFxAce

We have to go all the way back to 1980 to see the last time the CHFJPY was at current leveks which is pretty insane as have all yen cross pair moves this Year and picking tops is very risky hence waiting for the correct signal is important. Looking at the monthly charts we are now in a SUPPLY area from 1980 on daily charts we have broke out off a congested period...

TheFxAce

Just a quick update on the GBPUSD oosition I posted over the weekend it's going as expected yesterday dropping down to the 2020 low and rallinying from there, i entered this position @ 1.146 and will target the 1.175 area which is the last weekky low that was taken out in the current trend I expect a reaction there with price droppinf back below 1.16 then will see...

TheFxAce

On my previous USDJPY trade idea I said that if there was a clean break of 138 then we would move up to new highs this occurred last week and have now entered a HUGE untested SUPPLY/SELL zone with a nice 1,2,3 push topping formation on both the WEEKLY Chart and on the RSI showing this formation with the MACD also starting to show divergence. When these sort of...

TheFxAce

Time to BUY GBPUSD going off the Weekly charts as we approach the 1.14 2020 low I expect it to hit this level early next week. Can already see MACD divergemce appearing on the 4hr charts will hinting of a move up is around the corner given that are Approaching the key 1.14 support makes this a great trade. Will start building into a LONG position early next...

TheFxAce

We are now approaching a Weekly supply/sell zone starting at 0.975 where we had a huge sell off before. This is the first test/touch of this zone and given it has only taken 2 weeks to get back to this level from the last low we are highly likey to get a SELL off from here again. As you can see in the image above we have a small Daily SUPPLY/SELL zone between...

TheFxAce

We have reached Monthly low from 2015 when the depegging event happened though I have seen data on MT4 platforms where the spike down was a lot lower see the support level below. We can see price action getting very choppy around this level both on the weekly and daily charts and last weeks candle close looks very likely that we will get a move up from this...

TheFxAce

EURCAD has been dropping pretty heavy for nearly 2 years now and analyzing the MONTHLY and WEEKLY charts we have now entered a key long term demand/buy zone and at we touched a strong support level from 2011 this is all indicating that we have a potential 1200 pip BUYING opportunity back up to 1.40. As you can see on the chart above on the DAILY chart price has...

TheFxAce

Today's trading idea is a LONG setup on GBPAUD. Currently we have entered a Monthly demand zone from 2017 and approaching a weekly demand zone also from 2017 as pictured above. The weekly zone is untested the price range being from 1.691 - 1.664 it is highly likely price will drop down into this zone very soon as it's about to breach the 1.70. On the 4hr chart...

TheFxAce

Today I have got a fantastic R/R SELL trade on the AUD/NZD for both short term and for holding long term. We are now approaching again the top of a long term Monthly and Weekly range on the AUDNZD going back nearly 7 years. Also looking at the Monthly chart price has been rallying straight up to this area for 12 straight months/candles without much of a...

TheFxAce

Quick update on my BUY ideas from earlier price dropped down to 1.13 area and buy signal triggered on indicator. Entry 1.1307 Stop loss 1.124 Take profit 1.145 Already hit breakeven and stop moved to entry

TheFxAce

SELL Idea on GBPCHF this is a trend continuation trade going with the Weekly charts. GBPCHF has been dropping heavy as of late and looks like it is targeting weekly price zone between 1.125 -1.11 which are actually 2 weekly lows from 2020 at the beginning of COVID we had huge buying reaction here before and the way the market is dropping I suspect it will target...

TheFxAce

BUY trade idea on GBPCHF I have also posted a SELL idea on another thread. GBPCHF has been grinding down for a while now extremely oversold again yesterday it popped a new low below 1.13 which was last week's low and the retracing sharply back up towards 1.135. Price seems to be forming a bit of a support around 1.13 though zooming out to the weekly charts we can...

TheFxAce

Quick update on my EURUSD trade setup from earlier as per idea price has entered BUY/trigger zone and indicator give 15min BUY signal so trade entered. Stop loss @ 0.992 Take Profit @ 1.018 Breakeven @ 1.004 Trade is valid for 1-2 days max.

TheFxAce

Great setup the EURUSD as we approach the key 1.00 level, this is a short term trading setup that if triggered will be valid for 1 -2 trading days. We are approaching the 1.00 level which is were we got a nice rally from at the beginning of the month and price has been retracing back to this area for a first test we should see a reaction here again evident in...

TheFxAce

Higher Timeframes govern the Lower Timeframes so we must always know what is happening on the Monthly and Weekly charts as you will see me explain on this GBPCAD trade setup using a top down approach. On the Monthly charts we have now entered a key buying area and approaching a very strong ALL time support zone dating back over 12 years ago there has been several...

TheFxAce

USDJPY has now moved into the key selling area between 136.4 -137.4 this is the actual area that caused the huge sell off down to 130.5 at the start if this month. It was also the area that broke the weekly trend line . We have retraced back to this level pretty quickly meaning it's highly likely we will see large selling action around this area. I will wait for...

TheFxAce

Possible selling opportunity on GBPJPY that can last anywhere to 3 to 5 days though if the current level is respected has the possibility to turn into a monster of a trade that can bank 500 pips or more pretty fast. The way I approach trading is a top down approach where I look for key levels on the Monthly and Weekly charts and zoom into the lower timeframes...