GBPCAD SHORtOvernight during the London session price was able to test the major 4hr Ascending channel trendline and the minature 1hr ascending channel Trendline. After finding a break and retest of the trendline from the bullish rally to the trendline, on the m15 chart, I will be going short here and will be targeting the bottom of the channel. If price hault at a support zone while on the rally down I will take profit. But ultimately Im looking for a clean flood down of price to the bottom of the channel. Remeber to use RISK MANAGMENT. Lets see what the market does for us ladies and gents.
Breakandretest
USDCHF SEWe are currently in a descending channel here in USDCHF. Price has broken through the previous support and is now testing it as resistance. Price is also Having A big wick rejection at the support while also rejecting the moving averages ( 50 &20 EMA) and the trendline. I believe price will fall pretty heavily here to the next support level. Im shorting here.
Chf/jpy - Short Another set up was provided today. I took this trade on the retest of a 15m level after getting confirmation on the 1D, 4H and 1H.
Very simply, i waited for a key level to be broken on a clear trend and then went short once the retest of that key level started to show rejection.
If you can keep your strategy simple you can repeat it easily, and this is key to staying consistent.
My risk s 1% and i will be seeking 2x my risk, once the trade gets half way to my TP i will lock in stops at break even.
I hope this helps.
NZDUSDGang NZDUSD is looking very clear bearish move, price has broken and given a small pullback back to entry, perfect moment to enter. There's clear divergence between the RSI, and daily price action, we placed our trend under the highest high's pullback, Once broken trade is active. Head on over to my Signature on my Trading View Profile Page, Click & Follow Gang
GBPAUD Double topNice, simple & clean. Double top, neckline has already been broken, now we just need to look for the retrace - its always possible that this wont give a full retrace, or it may even over extend to the bodies of the candles on the neckline. nice drop off on the MACD across the peaks, and a trend break to vouch. Price action also looking very nice for the bears. I'm looking for this to push up a little, then short this pair. As always with these patterns, targets are fib extension - 1 & 1618 of the pattern itself.
I will be in the LTF's looking for confirmed short entries.
nice and clean short setupLooking good for shorts here if this candle can close below the neckline. Nice and simple. Trendline break, double top, Divergence on the peaks and bearish price action.
1.962 is the neckline. TP1 = 1.946 TP2 = 1.939
Targets are conservative fib targets for the break of the double top - this is only valid if this 4 hour candle breaks and closes below the neckline - simple break and retest.
GJ Break and RetestI recently closed my position on this setup it was a break and retest and price fell beautifully. My confirmations were the Fibonacci and also seeing my moving averages cross. I did enter as the candle was heading down, and it continued to fall in my favor. on the H4 the candle was a strong Bearish candle at a HH point in price action. All in all this was a nice setup the only thing that wouldve made it a bit better wouldve been for the engulfing on the H1 to actually Close.
DE30Index, possible sell coming.Germany30 has broken below a 4H support zone and has returned to this area. Monitor closely on a lower time frame to see if price decides to respect this zone or break above it. If price continues to reject this zone and we see a reversal pattern form, we can look for a bearish entry. However, if price breaks above this zone we can wait for a retest before looking for bullish trade setups.
USDCAD BUY (Signal #4)This is on the 4H chart, and we can see a strong support.
Take a look at the chart:
1. Price fails to break support
2. Fails again
3. Breaks support
4. Retest
It couldn't get simpler than this, a simple break and retest on the 4H chart for USDCAD, with great upside potential and R:R. The US election on November 3 could completely disregard our technical analysis and unexpected moves will happen. Due to that reason, I will not be taking this trade personally. In the event that Trump gets elected, this trade will hit TP almost certainly. If you decide to take this trade, use very low risk.
Entry Price: 1.32590
Take profit: 1.33557 (100)
Stop loss: 1.32058 (50)
Price Trap (USD/JPY) IDEA......Wait for break AND retest on the 1 hour TF
enter 15 min TF
CONFIRMATIONS OF 2 BULLISH or 2 BEARISH candles DEPENDING ON BREAK OF ZONE (FLOOR OR CEILING)
25 Pips TP
25 Pips SL
1;1 RISK/REWARD
EXAMPLE
0.01 per every £100 in account
0.02 = £200
0.03 = £300
0.04 = £400
0.10 = £1000
GBPAUD STOP HUNT SHORTPrice broke through clean highs taking out stops on two different levels, this will fuel a larger move to the downside. the movement back within and retest to the zone that was made before the clean highs were broken is my confluence for my sell. on a lower time frame its easier to see the swing failure pattern right into the zone. PRICE IS GUNNA DROP
USDCAD SHORT Clear break and retest with a lot of rejection here at this minute 15 zone. There are lots of rejection at the golden fibonacci zone. Price is also retesting my 20ema. I will be going short here. TP 1 is -27.00 extension and TP2 is -61.8. My SL is set above the highest wick rejection here. Lets let this baby play out