mrrosstrader

mrrosstrader Updated 

AUDCAD The RSI is oversold on the daily chart and we can see that the market made a retest of the current level several times. It gives us a good chance for taking a long trade and get around 190 pips of profit, risking just a little more than 90 pips. Have a nice trading day ;)

mrrosstrader

I am keeping an eye on this pair as there is a chance for a cypher pattern completion at around 1.0119. The goal here is to take profit at the 1.0033 level and I strongly think it could even go lower.

mrrosstrader

There is a Cypher Pattern completion in the EURUSD chart. I am looking to partially take profits at the 1.1206 Level but I am expecting it to go as low as 1.1175. Good luck and good trading everyone

mrrosstrader

There is a Cypher pattern completion on the EURUSD. I am looking for taking profit at the 1.1206 Level. Good luck and good trading everyone!

mrrosstrader

Watch out for the formation of a Gartley Pattern in the 1H chart. It is very likely that the GBPJPY continues to go down after the retracement.

mrrosstrader

Look for completion of the Bat Pattern at arround 1.4355 level in the next couple of days. TP1 is at the 382 Fibs level and the TP2 at the 618 level.

mrrosstrader

In this chart we can see that it has reached the 618 Fibonacci Level and retested that level. I am selling at 92.30 looking for a profit arround 117 pips in the following days. TP1 is placed where I found a good support area and the TP2 is placed just above a 618 retracement f the recent big movement.

mrrosstrader

The bullish divergence in the RSI helps us to confirm the double bottom formation. It is a good opportunity to make a 2618 trade. I suggest to go long at the 618 of the Fibonacci Retracement. My SL goes 10 pips bellow the lowest low and my TP goes right at the higher close of the candle.

mrrosstrader

I have identified a previous support level on the 1D chart that could become our next resistance. The reason why I believe it is very probable to see a downside movement is because the RSI is overbought and there is also a 786 Fibonacci Level on the current price. For me that level is a deeper retracement area. Our Risk/Reward ratio is very good so I am taking a...

mrrosstrader

We see that the market is in a bearish trend and has being creating lower lows the last hours. I think it is a good idea to short the market because there is not a meaningful resistance level where the price should bounce. Using the Fibonacci Retracement I identified a possible shorting area that would create a 1:1 Risk/Reward chance for us and is also on the...

mrrosstrader

We see a very strong support ( sorry I wrote Resistance on the chart) on the left side and as the chart violated that level, it is most probable that we see a retracement at around the same area. With the Fibonacci Tool I also identified a 0.5 level in the same zone and if we add that the RSI is showing that the market is currently overbought, we have very good...

mrrosstrader

There is a double top formation with a high probability of a downside move. We can also add that there exists a bearish divergence on the RSI and if we see closer, there is a well established resistance on the left side of the double top. For me it is great chance to short. I put the stops 10pips above the wick of the candlestick and my target is just on the...

mrrosstrader

As we can see using the Fibonacci tool, the retracement area that I am looking for is between the 382 and the 618. The risk/reward is 1 to 1 and the target is around 123.75 or the previous resistance level on the left.

mrrosstrader

We can see that there is a double top formation on the 1H chart. In addition the RSI show us a bearish divergence, which means that the market is most likely to go down in the next hours. I am looking for targets at around 1.0380 on a previous resistance level.

mrrosstrader

There is a double top formation on the GBP/USD 1H chart. We can also see a bearish divergence on the RSI, so there is a big chance that we see a big downside move in the next hours. For me is a great selling chance.