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AUDCHF 1HR TREND CONTINUATIONAUDCHF is another market we have focused our attention on due to the CHF strength we are currently seeing in the market. AUD has seen some short-term weakness this week and could be set to re-test the key support of 0.7140 before longer-term buy opportunities come into play. Technically we have our moving averages in the right direction and if we see a break and close below the supporting trendline we will look for a short opportunity down to the support.
Short
by BlueberryMarkets
DXY POTENTIAL HEAD AND SHOULDERS AT KEY RESISTANCEWe have been looking for the USD to sell off this week due to FED Chairman Powell less hawkish position on the US economy and the false break of the $97.00 resistance. Looking at the daily chart here we can see that the market may be looking to re-test the $97.00 resistance and if we are to see the USD sell-off we should see this pattern complete. A break of the low around $96.00 will be enough to see the market form a daily lower low giving us a better idea of further downside.
TVC:DXYShort
by BlueberryMarkets
USDCHF DOWNSIDE CONTINUATIONWith the buying of safe havens we have seen a reprise in CHF strength which we saw slightly last month with no follow through. Technically we have taken out the supporting trendline from the daily timeframe and the 4hr is now forming lower lows and lower highs. This is a great market to look to trade now and we will be waiting for price to pullback into the moving averages for further downside. Make sure you follow the links below to be on top of trades we have taken.
Short
by BlueberryMarkets
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FOCUS REMAINS ON SAFE HAVEN BUYING- USDJPYAs political risk looks to be taking the spotlight again with President Trump re-iterating his stance on China and the current trade tariffs we have seen a shift from risk on to risk off and the buying of safe haven currencies. USDJPY looks set to continue its current downside after breaking through the supporting trendline after failing to break above the 114.00 level. Looking for further downside here on our trading timeframe with a pullback to the current minor resistance with 61.8 Fibonacci confluence. For added confirmation we have the moving averages pointing down and will look for these to be re-tested before looking to short.
Short
by BlueberryMarkets
USD ON THE MOVE THIS WEEKLast week we saw a sell of in the USD as FED Chairman Powell spoke with a less Hawkish tone. This may have spooked the market into thinking a December rate hike could be played down. If we look to the weekly chart the candlestick finished as a strong bearish close at the key resistance. This gives us the opportunity to potentially see further downside. We have a trendline offering support however if we were to see this break we could see the market head towards that $94.00 support.
TVC:DXYShort
by BlueberryMarkets
Gold Price Prediction!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Long Position OANDA:XAUUSD Chart Time frame - 4 Hourly Timeframe - Swing trade Actions on - A – Activating Event Gold was able to push from a higher low @ the 1200 level. Over the next week will see the commodity rise to at least the 1235 level. We may see a small pull back from here before pushing further north B – Beliefs Trade will move to next support line @1235 level. OANDA:XAUUSD Follow your Trading plan, remained disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FOREXCOM:XAUUSDLong
by SMPTrader
The phenomenal Successful Trading Plan 103 & 104SELF DEVELOPMENT/METHODOLGY/PSCHYOLGOY The phenomenal Successful Trading Plan 103/04 3. Trade Preparation By concentrating on getting ready, the exchanging plans for the higher time allotments, the cash administration will dependably keep the proportion altogether. Trade proportion is the quantity of pips one may make versus the quantity for which one has a chance. Trade proportions for swing exchanging the H4 time span can be around +3 to +5 to +1 positive, which is incredible. However, on the D1 and W1 time periods, it can be +5 to as high as +50 to 1 positive. 4. Trading Rules As with any business, money management, or in the case of trading, trade management, is a crucial element that needs to be addressed in your trading plan. Having a robust trading plan with predetermined trading rules will allow you to act subjectively in response to market changes. Trading is not about winning all the time; it is about effectively managing your trades, whether they are winners or losers. Unfortunately, many come to trading with a gambling mentality and do not exploit the advantages available when managing trades. Do not risk one cent on the market until you have clearly defined each of your trade management rules. Following are seven trading rules, which you must determine for each and every trade you make and some potential considerations for each: 1. Entry 2. Initial Stop Loss 3. Position Size 4. Re-entry 5. Trailing Stop Loss 6. Adding (Position Building) 7. Profit Taking Exit Strategies For each one of these rules, you must have a pre-defined trading plan. You must know when you will enter the trade and execute your entry when the criteria are met. You must know your initial risk for each trade as determined by your initial stop loss before you risk any money on the market. You must plan when you will add to your winning positions and how you plan to exit your winning trades. It is not effective to determine your trading plan while in the trade. Emotional and psychological factors will influence your judgement and affect your decisions FOLLOW YOUR TRADING PLAN, REMAIN DISCIPLINED AND KEEP LEARNING :) More elements will follow... Like, share, Comment and follow us to keep updated on our professional trading ideas and education :)
NASDAQ:AAPLEducation
by SMPTrader
GBPCHF CONTINUATION SHORTWe have refrained from trading GBP these past couple of weeks due to the volatility however GBPCHF technically setting up as are other GBP Markets for further downside. As we have seen this week although PM May had her agreement passed however, her cabinet are now resigning showing a lack of support for the draft agreement. This has led to downside for the GBP and we expect this to continue as the country is so divided over BREXIT and the terms on which the UK leaves the EU we can only see downside in the near term. Technically the market is testing structure resistance and the moving averages and could see further downside here into the key support of 1.2640.
Short
by BlueberryMarkets
SAFE HAVEN BUYING? TAKE A LOOK AT USDJPYWith the recent turmoil in the UK and Europe we are seeing a buying of safe havens currently this includes precious metals such as Gold and Silver. JPY is also the currency safe haven and as we can see currently the JPY is getting stronger after breaking our of the daily supporting trendline. If investors feel the need to buy the safe haven currency we could see prices here decline further back into the key support of 111.75. We are keeping an eye on the 4hr charts for pullbacks to previous lows to get involved.
Short
by BlueberryMarkets
GBPUSD...BREXIT WEIGHS HEAVYIn today's video we discuss the current situation with GBPUSD and how BREXIT talks have been affecting the market. We see further downside here as resignations from Prime Minister Mays Cabinet start to appear. The resignations show a lack of support for the current agreements and could force Prime Minister May to fight for her position. Technically the large bearish engulfing on the 4hr could be ideal to look for lower timeframe short trades down to the key support of 1.2700. If you are to trade this market do so at a reduced risk due to the swings in the GBP and the uncertainty surrounding it.
Short
by BlueberryMarkets
OIL SHORTS CONTINUE We have had some great trades on OIL as spoken about before we have been short from $86.00 and we see more downside to come out of the OIL markets. The first weekly support comes in at $62.37 and could rally from here back into the key resistance of $70.44. Looking for short opportunities to the key support and then waiting for a re-test of the resistance before looking for any further shorts. If we see a weekly downtrend form here we could see lows of $30.00 and the 2016 lows.
TVC:UKOILShort
by BlueberryMarkets
EURUSD SHORT AS USD STRENGTH CONTINUESEURUSD has been pushed lower of recent due to USD strength but also the weight of Italy and more importantly BREXIT is still heavy here adding pressure to the currency. Technically the market has just tested key resistance and previous structure lows around 1.13100. We have seen the 1hr chart change cycles and we are now looking for the market to push higher and re-test 1hr structure resistance before continuing to look for downside. Targets will come in at the previous 4hr and daily lows at 1.1219.
Short
by BlueberryMarkets
CHFJPY DOWNTREND CONTINUATIONCHFJPY higher timeframe downtrend looks set to continue as the 4hr chart technically has moved back into a downtrend with price forming lower lows and lower highs. If the market continues to downtrend we should see a continuation of this market formation down to the key support of 111.85. Applying our fibs we can see 38.2 fib retracement lines sits slightly above the key lows at 112.96. Looking for the market to retrace to the resistance before continuing lower.
Short
by BlueberryMarkets