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4hour

Ascending Triangle on EUR/AUD @ H4The ascending triangle on the 4-hour chart of EUR/AUD presents a bullish breakout trade opportunity. The triangle's borders are marked with the yellow lines. My potential entry point is marked with the cyan line. My potential take-profit level is shown with the green line. I will set the stop-loss order to the low of the breakout bar (not shown). More information, chart template, and a free expert advisor to automatically trade this pattern - on www.earnforex.com
Long
by AndriyMoraru
USDJPY potential SHORTLooking at a potential trend continuation around the 111.000 area. Daily chart indicates we are bearish with downsides towards 106.000 area. This indicates we have room to hop on the downtrend we are currently in. Recently the 111.000 area has held strong support on 3 occasions. There is a good probability it could hold as resistance if price gets there again. Furthermore, we have a 1.618 extension landing bang on for confluence. Just shy of the 111.000 we have confluence of a 50% retracement of the last down leg and a 1.414 extension of the last up leg. We need to wait to see if price gets up into that level and wait for potential entry signals and also examine the potential risk to reward before we can enter.
Short
by Maani_Sayah
USDCAD - 4 Hourly Analysis Looking at the 4 Hour chart USDCAD is in a clear downtrend and is currently breaking out of the downward channel to the downside for the 3/4 time. But these moves to the downside have so far been halted for a number of reasons. Namely because any attempt to move away from the 61.8 Fibonacci level (purple @ 1.29705) is entering, strong weekly support and now daily support has also formed. If USDCAD is to see more upside and potential reversal then I would expect buyers to come in around the two 61.8%% levels (black and purple). But be in now doubt that at the moment sellers are in full control with lower highs being consistently made on previous moves higher, followed by lower lows being posted. So be wary of how long a bounce higher could last for. Happy Trading :)
by ForexPinnacle
GBPJPY - 4 Hourly AnalysisGBPJPY has recently broken out of the wedge and price has seen a clear lower from the 4 Hourly resistance. Next sellers could look at 61.8% Fibonacci level and the 4 Hourly support as a good area to take some profit. Likewise spectators might see this area, as a good place to buy (placing stops below the 61.8% on a test and bounce). So watch out for a bounce at the 61.8% level, if the support area and 61.8% does eventually break then I would expect a lot more bears to enter this market. Have a successful week of trading :)
by ForexPinnacle
EURUSD 4 Hour Pin BarI'm going short on the EURUSD because of a 4 Hour pin bar that formed and met my rules analysis. The pin bar formed and then the next 4H candle moved up to touch the R2 pivot line which coincided with the fib retracement lines that I drew on the fib line itself. My entry price is 1.1335. My stop loss is a few pips above the pin bar high at 1.1377. I've set my take profit as the fib 1.618 extension which is 1.1263. If I'm correct, I can see the EURUSD falling further than my take profit level and into the 1.200 area.
Short
by GaryEvans