NZDCAD
Daily timeframe, clear corrective structure => we are expecting a Bearish impulse
4H, Impulse move from the outer structure from Daily?
1H, Corrective retracement move towards the 61.8% Fib Level from the 4H Bearish Swing
15Min, Evidently, we can see a Double Top formation at Confluence area
Everything is pointing nicely for a Bearish move. But how sure...
CHFJPY remains to be bearish as overall structure is still prepared for another big Bear push.
Note that this recent bullish run is rather corrective and weak in nature, not impulsive. and if compared it to the previous bearish swing, i believe that this is just a retracement of that.
now we can see a potential double top formation on the top of the bullish...
Price is at great Short value at this point. its at a Daily Descending Channel Resistance and price is testing this level in a very corrective manner. As we look closer into the smaller timeframe, we can see a Ascending Channel and within this Ascending Channel, we may have a potential Double Arc Top at the top of the Daily Outer Structure.
Perfect time to try...
the 4H structure is evidently in a corrective structure => we can expect at least another impulse towards the downside
from 1H timeframe, we can see a mini flag forming at the Support of the 4H structure support.
therefore, i think that EURCAD is gearing up for an impulse move down. But i must say, the Daily timeframe structure is not looking fantastic. so this...
Again, USDCHF, the previous trade idea was right with the direction of the trend. The bears are still in charge just that the flag didnt work out as what we expected.
Same kind of setup again, Bearish Flag Continuation pattern spotted here. 2 ways for me to enter this trade. Both are shown. but no pending order set for 2nd trade entry because i will need to see...
NZDJPY is in a corrective structure and has been testing the resistance. tihs is the 3rd test and i think it will act as a resistance again because on the lower timeframe, we can clearly see a corrective flag structure forming after a bearish impulse.
at the very least, we should be expecting another bearish swing, just that we dont know how far it will...
I am anticipating a formation of expanding flag from the Daily Timeframe. not the best value we can get since it is still 2nd test of Expanding Flag Support. But there is alot of profit potential if this truly plays out.
from the lower timeframe we can see a impulse follow by a Bullish Flag. its no doubt price will soar higher from here but how high will remain...
Its very obvious that USDSGD is at a top of the structure and a significant resistance.
We want to short, breakout entry triggered in my sleep!
Looking at this new structure, it can form a corrective structure, not quite yet impulsive. But we will see. targetting the Daily timeframe significant support.
USDCHF is in a overall Corrective Structure from the HTF perspective.
Price is now at a top of the outer structure and a possible double top formation
Looking deeper, prices approach the outer structure via a Ascending Channel on the 4H (sign of Reversal)
and now we can see a good flag consolidation which means most likely we can expect price to continue towards...
From this 1hr timeframe, we can see that price pattern within a pattern.
Bigger price pattern is Double Bototm while the pattern within is a Corrective Descending Channel, these patterns give us an additional confluence that price may be ready to go up.
on the 15M chart, we can see a tight bull flag forming. its a great sign that sellers are still on the...
hasnt been great since the start of the year. havent win a single trade. AUDSGD got trail stopped and then moved in my direction. only open trade is EURJPY that is about breakeven. When you dont do well, doubt begin to take over. But great traders faces large drawdown too, they are great because they believe in their systems and rules!
Keep calm and trust...
I really don't like to trade on the 1H timeframe because its so volatile. but EURCAD setup has meet my rules pretty well, the bearish swings are so clear. Hoping it will push 1 more swing down. Just a 2R trade.
this year, i will try to expand my trading timeframe to include 1H also. Edge = More trades, More results = More Profit eventually. (potentially more...
Not sure what happened to AUD, must be some news. But good Bullish Momentum coming off an area of confluence.
Similar setup for EURAUD but thats on the Bearish side.
Now I have 3 pending trades. Each 0.5% risk exposure because there are alot of correlated pairs. Unfortunately, my AUDSGD Short trade has to be closed off before SL was hit to save abit of money....
Last 2 trade hasnt make much progress. Overall, alot of pairs are somewhat boring. GBPNZD printed a familiar setup for me this time. Hopefully there is enough bullish power behind it for another swing.
lets see lets see.
As i mentioned earlier in the AUDJPY idea that EURJPY is printing a similar setup. Yesterday candle close perfectly to set me up for a trade. But to be honest, the price action does meet my setup rules but its still somewhat questionable.
The retracement towards 20EMA is too shallow, the structure that its leaning on...is good but not great. the impulse wave is...
Most of the Yen pairs are at a good confluence level for the Bear to make another move towards the downside. Especially for AUDJPY and EURJPY has formed good setup based on my own trading rules. But still, i decided to not enter the trade.
Reasons,
1. AUDJPY, I am already in a AUDSGD short trade so I decided not to "top up" my position since the AUDSGD trade is...
