Price found some resistance on at Point D and I also can see some divergence on RSI. Went short on this one but I am keeping a close eye on it.
Trade active @0.720/0.726 TP-1 @0.710 TP-2 @0.713 (Just testing out the publish feature on trading view, feel free to take this at your own risk.)
RIDING THE WAVE UP... BUT THIS IS A B TO C ON THE DAILY TIME FRAME.
Great trade with RISK/REWARD Ratio: 2.5 - 1 FX:EURUSD Short at 1.0758 SL over 1.0883 Take Profit at 1.0439
So..!! What is EURUSD doing on 4 hours chart..? After a drastic fall to the new lows of the year, the pair found a support on thin air and pulling back. Now this pull back is evidently weak and is heading towards a minor sell level. How to engage...? Selling the pair at around 1.05210 region gives a really awesome Risk to Reward. It's always better to wait for...
As we saw trumps victory caused huge volatility yesterday , however we are still looking for a target zone of around the 1.23000 area possibly even lower. Im still very bullish on this pair as Im expecting a huge rebound to the upside once we are in the 1.23000 zone. but for now small short position. 100 pips or so.
The EURUSD pair was inside a downside trend (mid term, confirmed in daily charts). But on that general movement, we can notice on the 4h chart a bullish reversal construction taking place from the bounce at 1.08805 (Major support). The low and tops are getting higher, which is the basic definition of an upside trend. This change of dynamic in short term is...
if we look at daily and the weekly chart it is clear that there is a correction , buy after bullish momentum it is a good idea
USDCAD is looking to approach another sell area in its daily corrective move we have all been following so intently. There have been many setups on offer during this period and this short setup is by no means any different. Nevertheless I will touch on why, further down in this piece, this correction may be coming to an end! If price doesn't move into no mans...
DXY (4H): Price now at the upper trend line of the bull channel as well as at the 127.2% extension and previous resistance.
USDJPY (4H): After double bottoming (on Sept 27) at the 100.00 support zone, price moved sharply higher and is now back at previous resistance. Price has broken the rising wedge and has retested the bottom of the wedge as well as the 50 SMA. This is also the right shoulder of the head and shoulder pattern. My downside targets would be the 103.25 (Previous weekly...
USOIL (4H): After spiking higher oil is trading in a bull channel. It is currently approaching the highs of this bull channel. It has broken the high at $51.57. Will it hold above or will price rotate to the lows of the channel. Note that price is also at the 127.2% extension of a previous swing high. The trend is clearly bullish and I would only be looking for...
SPX500 (4H): Price bounced off support near 2100 and is currently trying to break through the resistance zone at 214x. This resistance is defined by previous support now resistance as well as the 50 SMA. Buyers who entered in the 212x zone could consider taking partial profits. Those looking to buy should wait for a strong break and retest of this resistance zone....
DXY (4H): Price is trading in a up channel after a sharp upward move. We are currently at the lower trend line of this bull channel. Price is clearly in a up trend. My upside targets are 98.1x (previous high) then 98.5x (upper measure move/previous high). I would not consider shorting until there is a strong breakdown of the up channel that brings price below the...
USDCAD (4H): After spiking higher off the 1.28000 zone, price is trading in a slight bull channel. Note however than in the short term we are still trading below the 20 SMA as well as the 50 SMA. We are currently at the lows of this channel. If the lower bull channel line holds my upward targets are 1.316x (previous high) then 1.328x (previous high), then finally...