1. Trend line broken to the down side 2. Using the breakout candle as reason for entering short at market price 3. Stop loss just above the breakout candle 4. Take profit placed at the beginning of the small up trend
FX:AUDUSD 1. Breakout to the up side 2. Resistance being tested as support 3. Looking for buy signal to go long 4. If the support fails = no trade 5. More details to follow :)
FX:USDZAR 1. Lower highs formed 2. Resistance holding 3. Consolidation at resistance (bulls out of steam?) 4. 200ema broken 5. Targets from 14.11 to the 13.90's SL 14.63030 TP1 13.90285 TP2 13.60857 TP3 13.37187 Entered at market price 14.33650
FX:USDJPY 1. Price was unable to break the prominent 114 level 2. Up trend line broken to the down side 3. Trend line re tested from the under side Selling at market price 113.389 Targeting previous support/resistance levels SL 113.800 TP1 113.029 TP2 112.805 TP3 112.541
FOREXCOM:XAUUSD * Support level reached * Looking for a buy signal via price action on H4 * Note that the support COULD break in which case a short to 1175 would be favorable More details to follow!
FX:NZDUSD 1. Double top pattern emerging 2. Inverted hammer printing and needs to close as such to be a sell signal (without confirmation) 3. Note the sell signal is printing at resistance 4. Targeting short term support as tp1 at 0.67092 Aggressive entry is at market price 0.67693 Conservative entry will be a sell stop around 5 pips below the inverted...
FX:USDZAR 1. Lower highs formed 2. Resistance holding 3. Consolidation at resistance (bulls out of steam?) 4. Targets from 14.11 to the 13.90's Looking to short when the time is right, more details to follow...
FX:EURNZD 1. Price is approaching a major support level (last seen in Oct 2017) 2. Awaiting a buy signal to print 3. I will include conditions like price crossing 20ema if need be 4. This setup will offer a good risk to reward ratio 5. Watch out for a breakout or false breakout to the down side (the more times the level is tested the more likely it is to break)
FX:EURUSD Shorting at market price 1.12907 Stop loss at 1.13438 Take profit at support 1.12158 Classic support and resistance trade supported by rejected highs (see candle wick pinning resistance)
1. Resistance at 1.32091 2. Selling off the resistance of the rising wedge pattern, this level is pretty close to the major resistance level 3. Essentially a sell signal like a hanging man/bearish engulfing would be an ideal confirmation 4. Targeting the support of the rising wedge is a good first target in my opinion 5. 1.30000 would be my next stop IF price...
FX:USDCHF The bulls have been doing exceptionally well on this pair since the latter part of September to the point where the major resistance level has been reached and the inverse head and shoulder pattern has been completed with the exception of breaking the neckline - the current candle is above the neckline signalling the possibility of a bullish...
FX:USDZAR Ah, I have been watching this pair for a couple of days and it looks like we may just have a possible short setting up. * Price is currently in a down trend in the bigger picture * Hanging man (hammer at resistance) candle completed (sell signal) * Bearish candle currently printing (needs to close bearish for confirmation of sell signal) Should...
FX:USDZAR 1. Head and shoulder pattern 2. Neckline broken 3. Retest from underside 4. Looking for a sell signal to print then 5. Target 13.20 region More details to follow
FX:GBPJPY 1. Major resistance reached 2. Possible pullback to take place 3. Awaiting sell signal (like emerging bearish engulfing candle pattern) 4. 147.500 should be a good target More details to follow
FX:GBPNZD 1. Price looks to be bouncing off a trend line 2. Bullish engulfing candle pattern present (still needs to close as such) 3. Ideally a buy stop above the bullish engulfing 4. Downwards resistance level needs to be broken More details to follow
FX:USDCAD 1. Price is currently in a rising wedge pattern 2. Awaiting the support level to be broken 3. Be aware of FOMC news later on (could be the catalyst for the move or violate the setup) More details to follow once the setup has been validated.
USDCAD 1. The last retest off the trend line offered a great opportunity for a buy order so I am looking to possibly do the same again 2. Price is currently on the neck line of an inverse head and shoulder pattern (retest) 3. Retest of trend line taking place as we speak I will look for: 1. A buy signal to print 2. 50ema to be broken (area of value) 3....
XAUUSD I'm looking for price to return to a short term support level around 1220.78 1. A buy signal would need to print like a hammer or bullish engulfing pattern in order for the setup to be valid 2. No congestion (if there is it means the bulls are battling and the support may fail Note the support levels drawn with dotted lines. Like this idea to receive...