TraderXR

TraderXR

Will go long if price breaks the blue colored support

TraderXR

Hey guys! sorry was inactive the past week. Got really busy with personal matters but now I am back! And here is my analysis for EURCAD. On the 4H chart, we can see the ccy pair trading in an uptrend channel but seems to have hit a strong resistance. This resistance has been retested many times now and failed to close above. Hence, my guess is that price will be...

TraderXR

Possible rising wedge. Will go short if the price breaks the previous low.

TraderXR

The EURUSD broke the channel and now came back into the channel. I am expecting a retracement down to the support of the channel before continuing its bullish trend. Thus I will wait and buy on retracement - to observe further on the 1H timeframe

TraderXR

Possible retracement back up. Will observe the 1H timeframe to see when does the next 1H candlestick closes before determining my course of action. 1. If price closes below 1.31259, possible that price will continue its downtrend all the way to the channel's resistance. 2. If price closes above 1.31674, possible that it is a reversal, will go long and target...

TraderXR

Currently as we can see on the daily timeframe, the ccy pair is in an upward channel and has reached the support level of the channel. In addition, if we look at the 4H RSI, it is in the oversold region already. We can expect the price to retrace back to the resistance for now. After that, we will need to see again if the resistance holds on. If price breaks the...

TraderXR

As seen, the ccy pair is in an uptrend channel and is now bearish. If we look at the RSI, it is oversold and therefore we can expect a retracement anytime. To support this move, we can also see the candlestick, the wick is being rejected from the 0.5 fib ratio hence might indicate a retracement. To be honest, I will not enter the market now but rather wait for...

TraderXR

Will go short if price breaks the strong resistance (which also happens to be the 61.8% of the fib retracement) Do drop me a like and share with me your analysis too!

TraderXR

2 possible scenarios: 1. Price will breakout from the uptrend channel as seen on the daily chart. Breakout to confirm again if price breaks the 1926.05 support line and shall go short on retest 2. We can see a descending triangle forming as well - possible for the price to reverse back up. We can also use the DXY chart for further analysis. Do drop me a like and...

TraderXR

Ccy pair seems to be in an uptrend channel now and likely to continue its bullish divergence since touching the channel's support. Will only go long if the 1H candlestick closes above the mentioned resistance. Will also watch out if the 1H candlestick breaks the channel support and closes beyond the previous lowest low

TraderXR

2 possible scenarios; 1. If currency pair breaks out from the uptrend channel and breaks the strong support region then will initiate a short position upon retest 2. If currency pair stays within the uptrend channel and start a bullish momentum What I will do now is to wait and check the 1H timeframe to determine my course of action. Please drop me a like and...

TraderXR

currently We can expect 2 possible scenarios from this ccy pair 1. As seen on the 1H timeframe, we can see a double bottom to be formed (which can be confirmed if the uptrend continues and breaks the neckline + channel support - then we can confirm a trend reversal) 2. The downtrend might continue if price breaks the 61.8% fib retracement of 141.357 A downtrend...

TraderXR

Set up as such if price breaks through the uptrend channel; Shall hold now and check the 1H candlestick to see where does it closes. Set up will be deemed as invalid if price remains within the uptrend channel - in which we can go long and target the channel's resistance. Do drop me a like and share with me your analysis!

TraderXR

For this ccy pair, I would consider the long term view/trend to still be bullish given that on the monthly timeframe it actually has a strong bullish candle closing above the strong resistance hence likely for this trend to continue. However, if we look at the 4H timeframe, we should be expecting a retracement first to the resistance before continuing its uptrend....

TraderXR

1. Based on the previous post on this ccy pair, it hit the channel resistance as per expectation and now we can expect a retracement - this is because, on the 1H timeframe there are actually 2 strong bullish candles formed already. 2. Second scenario on what could happen is that the price will retrace back to previous high and go higher, breaking the channel...

TraderXR

Possible trend reversal - ccy pair has hit the strong support level. Will probably wait for another 1H candlestick to confirm its bullish momentum before going long. To then take profit at 50% of fib retracement which also happens to be a strong resistance zone

TraderXR

Possible short retracement for this ccy pair before continuing its bullish trend. I would say it is a bullish trend because currently it is in an upward channel as seen on the 4H timeframe. If we choose to enter a long position now, possible to see a nice 2+ RR. Else can wait for the retracement to end to enter the market.

TraderXR

If we look at the 4H timeframe, we can see that this ccy pair has reached the daily support level; In addition, we can also see it being caught in a descending triangle on the 4H timeframe. I will go long if price on the 1H timeframe closes above 0.89598 (which was the previous high contested on the 10 Jul - similar situation as what we are facing now), will...