Very good trade in terms of risk to reward. Usd/Cad has been on a strong down trend, we are now looking at a potential range trade down if trade follows according to rules. Follow for updates.
USD/CAD: Sell 1.31344 ---> 1.30600. - Established that buying momentum is over. - Incident ( BLUE CIRCLE) - Low risk trade. - (1:2) Ratio.
A/U Started to sell off and retraced back to 618 and TRIED to retest levels but was not successful. Price also broke horizontal support close to the 0.70600 area. Bearish crossover on DMI AND bearish MACD confirmation. Elders Force Index is not showing signs of bears backing away. Take profit at 0.69802
Price topped out it looks like, quick reversal will take place before price continues to be bullish. Looking for a retracement back to the 0.5 levels on fib where we see previous consolidation. DMI bears have also just crossed over the ADX and DMI bulls, this confirms that bears are in power right now. I would not enter until a little more confirmation to the down...
Eur/Aud showing continuation of uptrend... except it looks like the bulls are losing power on the hourly chart. MACD is showing strong divergance. This means that price shows higher highs but indicators such as MACD, RSI, Elders Force Index show lower lows. DMI is also showing that the bears are about to take power. I will wait to enter once DMI crosses and ADX is...
Eur/Aud getting ready for a nice short. Easy TP target. Stops really tight just in case i'm wrong and price keeps going up. Waiting on confirmation before I enter.
NZD/USD short on 4 hour chart. Looking for 618 target
Eur/Usd short soon. Easy tp destination
GBP/USD long to 1.32000. 4 hour chart