Price has broken out and is now retesting my zone where I will be waiting for a 4H confirmation before shorting tis pair.
I have bought gold as it retested the broken triangle, I will have an open TP as I believe we could break the next trendline and head towards 1500...
This is my idea fora cadjpy short, tidy risk:reward of 7.34.
I am looking to go long on GBPUSD for 170 pips. The previous week closed as a bullish hammer rejecting off my weekly resistance showing a probable reversal. On daily price is as plenty bullish momentum as it approaches a resistance and descending trendline. Before entry I will be waiting for price to breakthrough and retest this zone. On 4H I can see price has...
I got in this trade too early last week and NFP took me out. Original analysis is on my page but I will be looking to reenter this pair with DXY showing signs of weakness and EUR showing strength. Before entering this trade I need price to break and retest 1.1270 and the TL before looking to go long for 160 pips risking only 40. My analysis tells me price is going...
After a bear spike taking out my previous cadjpy long trade at breakeven I have found a re-entry. Reasons for re-entry: Spike tested 4H 50ema which is currently a dynamic resistance. Retesting broken daily descending channel. 50% retracement from previous 4H swing low. 4H body closure above channel. The 1.618 fib also lines up perfectly with my previous take...
CADJPY has broken out of a daily descending channel and is retesting. It is also came for a third bounce on a 4H ascending trend line. Daily 50ema and 20ema have crossed giving further confluence of bullish pressure/trend change. My trade: BUY CADJPY @ 82.90 SL @ 82.70(20) TP1 @ 83.90 (100) 5:1 TP2 @ 85.25 (235) 12:1...
We are coming to the end of a correction wave, wave 4, and can now look for potential selling opportunities. There is strong resistance at 0.9900 which also happens to be a phycology level. The 61.8% retracement from the previous high is at 0.9893. Weekly 20 and 50 EMAs are closing in on each other and if they cross this will give us further confirmation. I will...
I believe price is at the end of a correction wave now resting at 61.8% retracement and daily 50EMA which was previously a dynamic resistance now turned support. This retracement lines perfectly with resistance at 1.1270 where I had a buy order placed. Sniped and straight into profit now running risk free.
EURUSD has broken and is now retesting a daily descending wedge chart pattern. The retest lines up nicely with an area of strong resistance, the neckline of a double bottom formation and the 61.8% re-tracement of the previous bull run. Target 1 is at the previous high 1.1330 (113 pips), target 2 is a daily resistance and 1.27 fib extension at around 1.1415 (195...
I believe we are forming an Elliot wave and will be looking for buys on USDCHF at around 0.9700. I will be placing an order and expecting a snipe trade straight into profit. If I was to be more conservative I would wait for a bullish candle on 4H. My analysis predicts we will have a corrective wave from 0.9700 to my highlighted zone between 0.5 and 0.618 fib...
EURUSD is forming a bullish doji on 4H after a retest of our broken daily descending wedge pattern. This retest lines up with a strong daily resistance, the neckline of a double bottom and 61.8% fib retracement. I am already in this trade with entry at 1.1226. There is high impact EUR news at 18.00 gmt so I will be moving my SL to break even nearer to the time.
As seen in a recent post of mine I am looking too short USDCHF. I did not enter the previous trade as I was waiting for a strong break and retest on daily before entry but I am still looking to short. We are now retesting a broken weekly TL and are forming a nice bearish inverted hammer on 4H and if this closes I will be shorting to 0.9900 for around 80 pips. SL...
EURAUD has struggled to close above weekly resistance at around 1.6240 since December 2009. I caught 100+ pips on its previous drop from this level and I'm watching closely to jump on it again. We have seen a recent break of the 4H trendline and now price is came back up to test its previous highs again, potentially creating a nice double top formation. I will be...
GBPUSD is oversold on daily and has broken out the 4H descending trendline. Im now waiting for pullback to 1.2668 before going long. The 4H 20EMA and 50 EMA have crossed over giving further confirmation for the change of trend direction. Target is almost 200pips, at the daily 50EMA which lines up nicely with the previous low swing, a strong resistance level and...
CADJPY had recently broken out of a descending channel and is currently re-testing this as well as the resistance level 80.67. Last week we closed with strong bearish momentum which I feel will carry on to reach our target at 78.45. I will be waiting for a daily close below 80.67 before entering short. All tips/comments welcome, I will update this as the trade plays out.
I am relatively new to the trading scene and recently have been studying techniques using raw price action. I am also trying to improve on my swing trading as this fits into my daily routines/lifestyle better. In this analysis I will be waiting for a break of key level 0.99 (also I believe to be a phycology level), before shorting this pair for around 300...