AUDUSD Short Good area of previous resistance, we have had a 0.618 fib and a few failed attempts to break this level.
I'm aiming for the 0.7800 level
2:1 rr
618retracement
EURUSD Shorts ready for Interest rates decision tomorrowLooking to short FX_IDC:EURUSD tomorrow.
Scenario 1:
EURUSD testing last candle at 1.9800 and a 0.618 fib and falls short from there.
Scenario 2:
EURUSD pops up to 1.2050 from GDP Results tomorrow and then shorts come into play from Interest rate decision.
Will need to be careful with this trade as EURO GDP results may provide a false breakout to test the highs of 1.2050 and could see shorts come into play thereafter. That would be my preferred move as this will fall nicely into trend I have created from these lines.
Apologise that this chart is quite messy and it may be hard to see the price action, but it works for me ;)
I will be watching this pair like a hawk, until then I can't see any reason to trade this pair at the moment.
EURUSD to Bounce at 1.0600 then continue the uptrendWatch 1.06511 (61.8) once broken enter a Long Position above, or wait for price to get near 1.0600 before placing a Long Position. Stop is at 1.05993
What's structure telling us? (EURAUD Analysis)Hi guys,
this time i want to share with you a simple structure trade, in order to let you understand how i analyze markets so that i can find the best opportunities.
I utilized two charts in this case for you have to get the reasons behind this thought process.
In the left hand side of your screen, there's the 4HR chart, and you can see price has created two consecutive new structure high, that is the definition of an uptrend.
Now, in order to get on the trend we must wait for price to come at our comfortable zones (where we can exploit the market): in an uptrend there are two levels to be careful of, the first is the broken resistance that could become support, the second is the previous support.
Right now price is sitting right in the previous support zone and it seems to be forming a double bottom (with RSI divergence) that could give us a nice trading opportunity.
Also, notice that there's the 618 retracement and a psychological number lining up in this yellow box.
Definitely keep an eye on that.
I'll update you in case of entry.
If you have any question, or you want to share your viewpoint, feel free to comment below.
Otherwise, see you in the next chart!
AUDNZD look at this scenario!Hi guys,
i want to explain to you why i'm going to short this pair if price pulls back a little bit more. As you may know audnzd has been moving upward without interruption: both in the daily and 4hr chart Rsi is in overbought condition, and this tells us that market is overextended and there's maybe some room to retrace and let the trend breath.
Obviously i don't trade based off of only RSI, but it gives me a good indication of what the market could do. In this case we have different clues pointing in the same direction.
First, we have structure at the black line level, together with a psychological threshold (1,0900): at this level you can see price has created a shooting star and then a nice engulfing candle.
Also, there's a 618 retracement of the bigger daily leg that happens to be right at this level.
With all those clues together i think there's no doubt.
I'm going to short at the 1,09 level, with stops above the highs, and target1 at a 1,25:1 RR. Target2 to be determined more accurately.
Good trading!
Feel free to comment below for any kind of questions or if you want to share your view.
Otherwise, see you in the next chart!
2618 trade on EURUSDHey guys,
after banking some pips over the night on the AUDCAD trade (see attachment) i want to share with you a 2618 trade that's forming on EURUSD.
For those of you who aren't familiar with this formation it basically consists on selling/buying the .618 retracement of the leg that breaks the double top/bottom's neckline. You can see the visual illustration above.
All the entry and exit levels are displayed on the chart.
Good luck!
If you have any question, feel free to write below.
Otherwise, see you in the next chart!
AAL sell set upHi guys,
This will be a nice sell set up when it breaks the daily uptrend. It will either consolidate and break or retest the double top before breakout. Looking for a sell set using your trading strategy is probably a good idea.
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Thank you for your support.
CAD/JPY, H1 LongNice rally of price on D1 chart, small correction, and now after removed last peak on H1 chart I see possibility to go 'long'. I will place buy order around FIBO61.8 retracement with TP on 2:1.
USD/HUF, H1 LongNext one USD pair with potential to form another one wave up. I will wait around FIBO 61.8 retracement to open Long position with R/R 2:1.
4 REASONS TO SELL GBPUSD!!!I am shorting GBPUSD in the 1.28-1.29 zone because of 4 technical reasons.
1. It broke out of the Brexit channel in October and now is close to testing the previous support of the channel (the red line and green arrows)
2. This zone is also an 618 retracement of the impulse move marked as "1 to 2"
3. The RSI/7 will most likely be overbought once it hits this level (now at 78)
4. And last but not least the it marks the "C" point of a potential Cypher giving it Fibonacci confluence with the 618 rtr.
I am not looking for an aggressive sell in the zone but I will watch the price action for a short opportunity.
NZDUSD - Short Setup at 61.8% retracement with engulfing barSince venturing below the established trend line set this year, NZDUSD had retraced to 61.8% of it's last down swing. To add confidence to this trade yesterday formed an bearish engulfing bar that move price quite a bit lower.
Suggested SL is above the recent high and profit targets are in the 1.272 - 1.618 Fibonacci extension area.
