Downwards sloping trend line causing a wedge to form, if this plays out a break out and re-test trade can also be made
On the smaller time frames, namely 1H an earlier entry could have been achieved for a shorter term position also.
We've seen a double top and now appear to have sen a higher low and lower high form. Looking to play down from support turned resistance to above the next support level. Very good RR on this trade, however as NFP was on Friday price could chop around on 06/07 August, but for the RR the trade is worthwhile for me.
Long on AUDNZD, coming into a wedge, with a large upwards sloping trend line acting as support to boost for a break out to the upside
Long on the 60m time frame from strong short-term support
Long on AUDCAD on a re-test of the upwards sloping trend line
Long if we get a re-test on the bullish sentiment currently on NZD.
Short on GBPAUD here with some continued GBP weakness I'm bearish GBP still and this looks set to play down to another key support level which is my target.
Short on this pair down to the support of the downward sloping channel, looking to risk 1.5% on this at a nice 4:1 RR. Using the 4H for this mainly, however agrees to the 1D and 1H also.
Bullish bias from the upwards sloping trend line after the higher high being created. Looking to form the lower low around the the upwards sloping trend line and then long up to next key weekly and monthly resistance. This is a good R:R trade for me over a longer term.
Bullish on crude from a double bottom potentially alongside the upwards sloping trend line. Large stop at 159 pips due to the bearish action these last 2 weeks, so giving chance to consolidate slightly before a drive up.
If the downwards sloping trend line is respected I'll wait to see if a bullish or bearish bias is generated and enter accordingly. At present when not at the charts I've got this short in from two key levels, however due to the UK general election risk is half and if price consolidates or moves slowly i'll take the order out accordingly.
Longer term trade for this using the weekly, however looks to be some rejection from the downwards sloping trend line so looking to fade it down here.
Long on USDCAD, very bearish drop this week, however around key support so going to see if this can hold as position was entered as pending last week so going to sit and wait
Looking for a rejection of resistance inline with some GBP strength, however lots of fundamentals chopping around so only half risk on this position, or looking to cancel depending on how price plays out
Long bias on GBPUSD however looking for a slight pull-back or some consolidation before entry