TrueNorthTradingFX

TrueNorthTradingFX

AUDNZD is currently sitting about 4hr 50ema and is also respecting old structure and key fib regions. I’m looking for bullish confluences to add positions on this pair.

TrueNorthTradingFX

After the first trade hit TP for 100 pips. we are now putting another 35 pips at stake for potential 140 more pips. Price closed lower than our target zone and has now pulled up and shown rejection off that area giving me confidence to take another short trade. This pair has room to fall so the next target is well within reach.

TrueNorthTradingFX

Seen a nice retest of old resistance now support. Waiting for 15m timeframe bullish confirmation to take the long trade. Other confluences are key fib levels and 3rd tap of ascending trendline. Will update when entering into trade

TrueNorthTradingFX

We have seen a nice bearish push off the key fib levels and old support on 4H timeframe. I have taken this trade at the given level and placed stop loss 30 pips above. Trade at your own risk!

TrueNorthTradingFX

Waiting to see how price reacts under this current support test in line with the 78.6 fib level. Price has broken out of current uptrend market giving us confluences to take a short trade. Awaiting candle stick confirmation over coming hours to see whether this trade is valid. I’ll keep you updated when I enter

TrueNorthTradingFX

EURCAD is looking nice for a long trade off a third touch of this ascending trendline. Waiting for this hourly close for candlestick confirmation to take the long. Also have multiple confluences of 61.8 fib retracement, trendline confirmation. Monitoring this trade for a potential candlestick price action entry.

TrueNorthTradingFX Updated 

Head and shoulders pattern followed by nice 1 hour price action candle sticks next to ascending trendline. Heading for neckline to make risk free followed by a further 30 pip decline to TP

TrueNorthTradingFX

Looking at potential long set ups with multiple confluences in our favour regarding this pair. Awaiting more price action on smaller time frames for an entry but right now its looking promising. We have a new and final impulse on a elliots wave to complete so target will be 0.27% fib extension and SL at 78.6 region. I will post an update if i enter.

TrueNorthTradingFX Updated 

Just like AUDUSD, NU now looks ready to fall with its counterpart. We are seeing a rejection for a right shoulder on 4H timeframe and also clear rejection of that 60400 level. Correction has also rejected 78.6 fib level. Targeting -0.27 extension. This one looks ready to fire now. lets see how it plays out. lets go traders!

TrueNorthTradingFX Updated 

Like in my previous post of NU short. NZD is also showing weakening against JPY and after originally waiting for this trade last week when it broke out the trendline and area we wanted to short from. Since then we had small correction and got the entry to take an even better short. We have formed a right shoulder and showed rejection of 78.6 fib level aligning...

TrueNorthTradingFX Updated 

We have had two 4hr shooting star candles off a key resistance and rejection of descending trendline. Also tested the 78.6 fib retracement with taps back into below resistance. Dropping down on to 1hr time frame for entry on a solid bearish engulfing candle at 22:00 BST which also starts the new trading month. 50 pip SL and 215 pip TP at -0.27% fib extension

TrueNorthTradingFX Updated 

Correction phase looks to of completed its course as we look to head down for the next impulsive move. Seen 4hr rejection of key blue level and we have also broken out of 1hr support trendline and price action is saying short with nice engulfing candle close. Looking to break through 4hr support trendline then targeting 1st point of that. Stop loss around 30 pips,...

TrueNorthTradingFX Updated 

NZDUSD has broke key resistance and had a strong bullish engulfing candle close for 7th May 2020. The technicals are pointing out long positions for the remainder of this wave as we are now well in the next impulsive move. Waiting for 1hr candle stick retest and rejection of key support now to secure the long positions.

TrueNorthTradingFX

We look like we could continue our swing down into 0.60000 after a few days of correction. Market has held structure firm in around the 61.8 and 78.6 fib levels. Want a break and retest of 63250 before i look to enter this position so keep your eyes peeled on this pair.

TrueNorthTradingFX

After sitting patiently for a week after an initial break of the descending trendline, we have now had the retest of key resistance and rejection on 4H timeframe. Looking to short into take profit key support zone. Lets see how this plays over the coming weeks.

TrueNorthTradingFX

AUDUSD carried its surge off the last post with an extra 150 pip gain. We now finally look like the bulls have run out of steam and are sitting nicely in between the 61.8 and 78.6 fib retracement levels. We are also starting to see a bearish head and shoulder pattern form on the 1h timeframe giving us confluences to take a short. I would personally like to see...

TrueNorthTradingFX

AUDUSD looks to now be rejecting strong resistance and psychological level of 0.62000. After last weeks bear run on USD strength we have seen a correction back to the 61.8 fibonacci retracement which has lined up with resistance. We are now currently getting bearish signals that this pair is ready for its next impulsive wave down. 4 hour bearish candle looks like...

TrueNorthTradingFX

Looking to short this pair as its hit key daily resistance of 67.500. We are currently on the verge of completing a evening star on 4hr time frame and showing us bears are starting to take control on lower timeframes. This pair is due a pullback so targeting 38.20 fibonacci as first target of around 60 pips then hopefully down to the 61.8 which would be about 120...