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USDNOK setup for short positionIt is set-up for short position based on the following : - recent bearish trend - ABC pattern where C stopped at 0.786 which is bearish sign - Pair is trading below 200 EMA - These blue rectangles are showing GAP's from weekly time interval Things which are suggesting that this trade is risky: - for the last 4 years this pair is in bullish trend - on daily chart it bounced from 200 ema Decide for U'rself if this one is worth the risk. R/R is not decent but it is alright If U'r MM is on decent level I assume it is worth a risk but if U don;t have solid MM then I would suggest to avoid this trade as it can wipe U'r account out.
Short
by Krystiannwk
MXNUSD Mexican peso nice set-up for short positionMexican peso is bearish for the last year. I pointed out most important places. - exact 50% of previous wave - H&S formation followed by recent trend - pair is trading below 200 ema on Daily CHart - GAP support/resistance area is fairly respected by market plus bonus which tells me that it is rather good entry Mexican interests rates which are very high in comparison to other countries world wide, of maybe except Turkey:) Money tend to favor currency which has highest interests rates I believe it is called carry trading. R/R ratio is reasonable well above 2 with low risk. I will update it if market will tell otherwise or if I will close position before reaching TP.
Short
by Krystiannwk
XAUUSD/Gold short position with quite reasonable TP ans SL Blue and greenish rectangle are representing weekly GAP. These are very often creating very strong resistance/support areas. Gold for at least 3 years is bearish so this trade definitely is following trend which is good news. TP area is set close to previous lowest low. On 4H chart pair is trading below 200EMA which indicates further losses against dollar. I'm pretty sure that the pair will go south in medium term and it may or may not continue trend in long term. It is good place to enter and if something will change in my opinion I will update chart when I will close position. TP = 1181 SL = 1215
FOREXCOM:XAUUSDShort
by Krystiannwk
GBPUSD FURTHER UPSIDE EXPECTED ABOVE 1.3235The British pound has regained bullish momentum against the US dollar, after US President Donald Trump’s speech with British Prime Minister Theresa May reaffirmed the two countries commitment to a future trade deal. The GBP/USD pair has now moved back above the key 1.3205 level and is currently testing the 200 period moving average on the four hour time frame. If the GBPUSD pair starts to trade above the 1.3235 level, buyers will likely target the 1.3255 and 1.3300 resistance levels. The GBPUSD pair is only bearish while trading below the 1.3205 level, key technical support is found at the 1.3170 and 1.3133 levels.
by OctaFX_Official
EURUSD ONLY BULLISH ABOVE 1.1681 LEVELThe euro currency has once again recovered upside momentum against the US dollar, after the US dollar index failed to hold onto gains above the 95.00 level during the US trading session on Friday. The EURUSD pair is now trading above its 200 period moving average on the four hour timeframe, whilst the MACD indicator on the four hour timeframe is currently pointing to further upside. The EURUSD pair is bullish while trading above the 1.1681 level, key resistance is now found at the 1.1700 and 1.1750 levels. If the EURUSD pair moves below the 1.1681 level, key technical support is found at the 1.1650 and 1.1630 levels.
by OctaFX_Official
Bitcoin - Stuck in a channel between McGinley Dynamic and 200EMAAfter repetitive attempts to rise upwards through the 200EMA, BTC is now using the (2017) 0.382 Fibonacci green zone as support which strengthening by aligning with the (Current) 0.236 Fibonacci and the McGinley Dynamic, A persistent strong price level that always shown to be quite resilient in the previous attempts. The McGinley Dynamic has proven to be useful in the current trading environment as to avoid spikes in volatility/price separation while also becoming a "layer" of support which Buy Positions are obviously placed behind (last two breaks have been rebounded sharply with volume). Knowing that, places BTC within a channel support of the McGinley Dynamic (no one wants their $$$ doing the hard work to break through support/resistance's lined with buy points) and the consistent resistance of the 200EMA (No catalyst to sustain price above this level), so we have a stalemate, at least for the time being. Aggressive trading may change that. What the above graph shows is that traders are primary using the Daily, Fibonacci and EMA for long term direction, McGinley Dynamic for Buy Positions along with MACD, RSI for trend and volume along with the Ichimoku Cloud, in which Senkou B rejects any entry, quite strongly to be precise. If your looking for entry/exit points, either side of these indicators (McGinley/200EMA) would be great place to start, but usually in times of indecision... where the Lion's in play, watching is safer then playing. Will keep updating in regards to the exit of this channel, in which could provide possible future direction, as a break in either indicator will effect a significant shift in the overall trend direction. CerealTrader BTC is seeing some tough times , so I should write this: ***Education Purposes only***
BITFINEX:BTCUSD
by CerealTrader
EURAUD will bullish trend continue ?We can see here 3 GAPS from daily chart(lime rectangles). Look how nice this pair bounced from the latest daily GAP. It also created upside-down head and shoulders formation( not fully developed yet) which is clearly saying that the pair will most likely move higher. I had some problems with setting up TP but I think 1.6222 is very reasonable with R/R close to 3.6. 200 EMA should help pair move higher if it will consolidate for a longer time.
Long
by Krystiannwk