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AUDUSD: possible short opportunityCandlestick close on 1h time frame doesn't look too promising and it's possible to see a move lower from the resistance line shown on the chart.
Keep in mind that the main driver will be the move in equities.
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Make your own analysis before entering position.
Feel free to share your opinion/position via comment and follow me to stay updated + support my work by hitting like.)
How to approach a pair during its consolidation period!-When there is a consolidation happening on a pair, this would be an excellent opportunity to look for a breakout and a reversal of the support/resistance of the consolidation box.
-For these types of setups we need be patient and see how price will move to either the upside or downside.
-Once we see a breakout of the consolidation box then it is essential to wait for a retest and enter when we see a strong candle stick confirmation depending on which way price breakout the box.
-Make sure to do loads of backtesting and forward testing this strategy to become more confident in the strategy.
-Make sure to journal all the trades to see how well you perform and look back to see what you can improve on.
If you need any more advice, support or mentoring then give me a message to see how best I can help you.
Please make sure to follow, leave a like and a comment on your opinion/ideas on how to approach these types of strategy.
In the near future, I will be hoping to post more educational posts to help my followers or anyone who wants to learn and get a better understanding on how to approach markets.
USDCAD: possible long opportunityUSDCAD is breaking the trendline formed since the beginning of this week.
On the chart you can see some support/resistance areas + RSI divergence + price above all moving averages and not too far away...
Stocks and oil are under pressure, thus risk-off is favorable for USD bulls.
Another USD long already opened.
Entering the position around 1.3560 (current level) with 1.3780 T/P and 1.35 S/L provides decent R:R=3.
Wait for confirmation and relevant price action on the lower time-frame before entering the position.
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Make your own analysis before entering position.
Feel free to share your opinion/position via comment and follow me to stay updated + support my work by hitting like.)
EURUSD: possible short scenarioThe main fundamental risk is continuation of the risk-on in equities, otherwise we can expect another strengthening of the dollar, which proved to be a risk-off instrument.
From techincal POV:
-H&S chart pattern
-RSI divergence
Joining EURUSD bears from around 1.1262 price with S/L above 1.1360 and T/P around 1.1000 level provides decent R:R.
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Make your own analysis before entering position.
Feel free to share your opinion/position via comment and follow me to stay updated + support my work by hitting like.)
AAP Signaled multiple times with a target price of $146+Bought in AAP here. 1st target price is $146+ based on my proprietary signals I coded into pine editor. Candlestick patterns are indicating a run up. Typically the patterns can take up to 45 days, but usually a lot sooner. I don't mind tho. Gives me opportunity to accumulate.
Keep an eye on this one. Second target is $148
I have my call options and I'm ready to go!
NYSE:AAP
GBP/NZDFirst bit of profit on this trade, looking good so far. i took this trade because it has tested a key area of weekly support meaning its likely to change trend. i am naked trader and only use support and resistance and price action! Thats all trading needs to be, simple and easy to repeat!
If you want to learn how i trade, please drop me a message on here or on Instagram: saxonpooley!
(I currently have a 50% offer on my 1:1 video coaching)
USD/CAD Support and resistance short trade.Hey, I am back with another of my Forex trade idea.
I've decided today to share another simple Support and resistance trade.
As you may know, USDCAD is in a daily downtrend, and we want trade with the trend, so we will be looking for a short position in the resistance area.
Let me know what you think about UC in the comments.
Don't forget to follow me, to not miss out on a good trade opportunities😉
Each Like is very much appreciated! 🙌