Forex-analysis
AUD/JPY BREAK OUT OF 2 YEAR TRENDLINE AUD/JPY BREAK OUT OF 2 YEAR TRENDLINE RESISTANCE & ASCENDING TRIANGLE
We can see the AUD/JPY pair close above the trend line resistance, after having a failed breakout previously, we are coming
back to attempt another breakout.
Looking closer, it is also playing towards the end of an ascending triangle, a potential retest of the trendline resistance turned support will
open up the entry to the long side.
V4 introduction .... lots of new additions!Improvements set below;
Trend filter using ADX
Specific parameters set into the code - detects the pair and TF to shown them automatically - our method has been solid YOY growth based on a fixed 0.01 lot size to gain consistent yearly consistent results
Trade volumes substantially reduced with a much higher win rate
No pull down menu when flicking between instruments - all done automatically
More TP options for testing
Smaller labels showing entry, SL and TP, etc
Lot sizes fixed
Filter for days of the week - some pairs hate specific days!
Back testing on all instruments
Filter for trading sessions
Great editions here, we hope you agree - please have a watch.
Regards
Darren
I bet you are selling here right? EURUSDWe no longer use technical analysis in our trades, this is shown as an example.
If this analysis is proven correct and the sell off occurs from here, then we will get a sell signal confirmed with our strategy - therefore we have no need to spend time analysing and plotting on our charts.
Currently however, we have our strategy aligned in a buy position that is already running nicely blue.
If you aren't in this trade, sit on your hands now and wait for the market to show its hand, lets look for a break out to the upside or rejection from here.
The initial rejection already fooled some traders (shown by the wick of the candle) and shown below on LTF.
We just trust and follow our strategy which is supported by our back testing data.
Regards
Darren
EURUSD - stop trying to catch the top!So many traders are trying to catch the tops of these moves - they are relentless - don't do it!
Our strategy will catch any reversals when they are relevant - at the minute we are not showing any signs of being close to a sell trade.
Keep watching our profile for WHEN they do become valid.
Regards
Darren
USDZAR Waiting on Monthly Structure (Yearly Bearish Sentiment)Please support this idea with LIKE if you find it useful...
USDZAR
MONTHLY FX:USDZAR
Huge Bearish divergence in the monthly time frame. Previous month closed as a sell signal hence we expecting huge sells this month.. Our initial 1st Target has been hit with patience we moving on to the next target 16.33390.
Price line in monthly has crossed below volatility bands indicating a change in trend and we expecting a further cross of the Priceline and blood which will confirm strong Bearish presence in markets. If this cross happens long term Target will be Priceline touching Liquid 50 and also price coming back to the open of the year .
WEEKLY
Priceline is currently crossing below liquid 50. A perfect indication that sells are coming into markets . Patience it’s still too early. We are still within the first week of the month which is term as the open.
DAILY
Current daily Candle looks like a sell signal. Also Priceline appears it wants to cross back below bloodline. Waiting on Daily Close.
For perfect sells kindly wait for OHLC in H4 . Also remember it’s the first week of the month of June .. trade with caution ..
* Waiting to determine Monthly Structure
* Yearly Structure is still OHLC (Sells)
PATIENCE
USDCAD Potential ShortPotential Short on USDCAD incoming:
Broke a strong support level, and waiting for a retest.
Fundamentally, the US has been hit pretty hard with the coronavirus and the GDP is coming out tomorrow which will probably not be good. As for the CAD, prices of Oil are slowly starting to rise which is good for the CAD, thus why I find USDCAD as a short has great potential.
GBPAUD - All targets hit +300 pips - and its still going!For more information on our strategy please view our 'Scripts' page on our Trading view profile.
Our V2 strategy shows the SL and multiple TPs on the chart too - these are customisable based on the ATR of each pair.
We have set these so that TP1 is 1:1 TP2 is 1:2 TP3 is 1:3 RR.
There are infinite ways to manage your trades to suit your mindset and time.
Works on all instruments
Directly onto your own personal trading view - all devices work
Non repainting
Please follow us to keep up to speed with our trading ideas, live streams (coming soon) and weekly recaps using our strategy.
We are continually marking some tweaks and marginal gain improvements to continue to make this easier for our trades and even more profitable. All updates are given to our members and previous purchasers FOC .
Regards
Darren
Blue FX