traderjuan1

traderjuan1

This pair is in a very long term bear market. The long term trend line could be the short term buy target, followed by a sell signal at the trend line . This is a very long term descending triangle pattern with a flat bottom. The breakout of the long term descending triangle will be to the south.

traderjuan1

A monthly missed pivot down at 119.526 makes my bias short. I will look for shorting only opportunities.

traderjuan1

With the daily TF candle closing above the 50 SMA my bias shifts to bullish on this pair. I see a possible reversal due to recent price action. The last swing down did not engulf the previous swing, and printed a bullish hammer candle. I’ll look for a place to get long if I can get a good R/R.

traderjuan1

This chart of the Dow Jones Inustrial Average does not bode well for the shot term future. Fact that it has dipped below its 50 day average , and the low close bar of February 8th continues to signal that this market wants to push further down. I don't want to be the doom and gloom guy, I just read it like I see it. Expect more bearish price action in the coming days.

traderjuan1

The USD index is definitely in selling territory. Now, looking at the USD/CAD pair, I see a possible short setting up. IMO, with the price being at or gelow the 50 SMA, a great candlestick with a long top wick, using your best equity management, I propose going short at 10 pips below the Friday Feb 9th low. SL would be at 1 ATR, TP at 100% of the range of the...

traderjuan1

This pair has formed a bearish head and shoulders formation on the 1hour time frame. It also shows bearish on the daily. Going short on a counter trend line break on the one hour chart, possibly around 1.5500.

traderjuan1 Updated 

From the monthly time frame we see this pair in a clear down trend. Therefore I would take only short trades on this one. Looking to go short when oversold, clear break of counter trend and maybe a high uturn candlestick pattern. Perhaps around 1.4440 Profit target would be weekly pivot at 1.4268 stop loss 15 pips above high of uturn at 1.4459 Reward: 170 pips

traderjuan1

Looking on the monthly time frame for this pair, I see it is in a clear uptrend therefore I would only take long trades. Using the weekly pivot point as a target I am going long on this pair however I'm waiting for a clear bottom before my entry.