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Forexpositive

HKDEUR descending triangleA nice descending triangle with 7 touch points. My backtesting has shown me that often the oscillations get closer as the triangle gets closer to its apex, and we see here that this behaviour is very strong. The key here will be the open of next weeks trading, where we will see whether it will break above the descending line and ruin the triangle or if the market will start in a downtrend and move towards the support line. If there is another move towards the support line I expect a break and will go short. (I am currently testing profit-taking at previous structural forms.)
Short
by olly_price
7
TRYGBP bearish Gartely supported by long term resistanceCD leg with a 1:1 ratio with the XA leg falls into the blue region shown on the graph (which is also a confluence of the 0.786 retracement and 1.272 extension, so will look for this as an entry point . Stop loss is based on previous structure support as shown by the horizontal red line. Not only is this a nice Gartely, but we also have the entrance point on the line of long term resistance , as shown by the black line (zoom out to see more). For this reason, we may see a much larger drop than the initial price targets. RSI is nearing an overbought state.
Short
by olly_price
Short On AUD/USD SELL SELL SELL !!!(Change of heart after break)Reasons for -We have broken our 4 Hour trend line to the downside -Therefore we have broken structure and i 100% believe that after the break we are headed down -We are going to get a impulse wave and this is a strong setup - after all the long term trend is bearish ! Yes weve had two small losses but we are going to make it back on this one ;) Also this is an aggressive entry you may want to wait for the pull back :) On the daily we have put in a bearish engulfing also the previous daily candle was huge bearish candle ! on the daily we can also price making Higher lows ! so we are headed down now i believe My entry 0.70430
Short
by ARFXC
15
Long On AUD/USD BUY BUY BUY !!!Reasons for -Firstly we are up trending on the 4 hour -We are making higher highs so to signify uptrend -We cleared key level of 0.7000 -We are trading above the Key Level -We are due for a new higher high and a impulse move to the upside -We also have come to the trend line and has show Strong level of support -Also on the trend line we have reacted and put in a Bullish engulfing -We are showing bullish momentum Also on the daily we are making waves and impulse moves We can clearly see a uptrend All this Put together we are bullish My entry 0.70950
Long
by ARFXC
23
CHFGBP bullish falling wedgeI have posted a bearish trade on this same pair from a descending triangle (see link), the profit target of which is outlined here as the lower green line. If this wedge breaks out at 7 then the other trade will be closed out and I will have to hope for a win on this trade to make up for that loss. If the market hits the support line before the profit is met then I will manually close the trade at a profit and wait for the falling wedge to break and enter this trade. This trade The profit target is set at lovely previous structure. Due to the large number of hit points and converging wedge edges a break out is imminent.
Long
by olly_price
2
Short On EUR/JPY SELL SELL SELL Reasons for On the 4 Hour -We have been bearish since the trend line putting in nice big bearish candles -We have broken our counter trend line -We also have nice long wicks on the upside -This shows me there is more selling pressure On the daily -Firstly this is a long term trade -We can see price is down trending on the lower time frames Always go with the trend -Price has come to our major trend line and bounced of as trend line is acting as Resistance -Price put in a doji almost right on the trend line then a nice big bearish engulfing -This clearly signifies to me there is alot of selling pressure at this level -Also we have been putting in lower lows and lower highs (Clear down trend formation) Price has always reacted from this trend line so i dont see why it wont again also following the trend this is a setup i like nice and high probability So is it possible to put a new lower low ? and make it all the way down too next key level off 125.00 My entry 131.045
Short
by ARFXC
26
Long on EUR/USD BUY BUY BUY !!!Reasons for -Firstly as we can clearly see we are in a Triangle formation -We have had multiple bounces from the Bottom trend line which is now acting as Support -The previous Four hour candle was a doji on the trend line -Now this 4 hour candle stick is forming a nice big bullish candle which signifies Bullish momentum from Trend line acting as Support -We have also priced in Higher HIghs -Although waiting for a break of the triangle formation would be the best thing to do i am more then willing to take a risk and only give away 50 pips if its Stop loss and if it hits Takeprofit then we will make a nice gain of 140 pips Key risk management and risk reward is KEY :) Remember History repeats itself My ENTRY 1.08434 GoodLuck everyone ! Happy trading :)
Long
by ARFXC
30
Short On EUR/AUD SELL SELL SELL !!! Reasons For -Firstly after bouncing of 1.6000(Our key level) we have been very bearish as you can see -Also we have been putting in Lower Lows and Lower Highs -We have also cleared our key level at 1.55000 and have been putting in bearish movement -Now we are trading below 1.5500 the only smart thing to do is to sell as we can clearly see strength to the downside -The previous 4 Hour candle was a bearish hammer with a nice long wick showing us more sellers then Buyers -This candle which is just closing now is a big bearish candle which gives us more confidence that we are favouring the downside -On the four hour we are clearly downtrending so we will do the smart thing and go with the trend ... The Trend is your Friend ;) -We are also formed a head and shoulders and now we have broken the neck line this just adds to our confluences :) -We also have lots of long wicks to the upside which is a nice to help with which way price wants to go and whos in control Bears or Bulls and in this case the Bears are in control (Sellers) This pair on the 4 hour time frame is very bearish in my opinion On the daily Timeframe -We have a clear down trend forming Of our key level 1.6000 -the previous day candle stick was a nice big bearish candle -Todays candle is froming a nice long wicked bearish hammer :) And we can see clear waves being implemented -And the weekly we have had 3 non stop weeks of bearishness -Also on the weekly we have nice long wicks to the upside which is a nice little confluence :) All these factors put my bias at bearish My entry is 1.53056 GoodLuck to all trading this pair with me :) P.S I MAY CLOSE EARLY BEFORE THE NEWS AT 3;30 AM GMT !
Short
by ARFXC
25
Long on GBP/USD BUY BUY BUY !!!Reasons for -Firstly on 4 hour chart we clearly see a down trend which has been broken -We can also see price has broken major trend line which acted as RES -Since we made the low of around 1.41000 we have put in Higher highs and lower high -This signifies a possible new trend forming -Also if we look at the Trend line acting as Support we have had our second bounce On the daily we have been bullish for 4 days before a bearish candle was put in this may have been because of the FOMC meeting which took place Altho we do not have many confluence as id like i do believe its going to go long and my bias will remain bullish till we take out the previous lower high :) Trade safe and maintain a good Risk management strategy My entry 1.24500
Long
by ARFXC
16
Short on Aud/Nzd SELL SELL SELL !!!Reaons for -Firstly we are forming a triangle -We have just bounced of the trend line with a bearish engulfing -Also a bearish hammer has been put in place -We also tested this area a on Thursday and rejected this zone there fore i believe it will do so again Price action leaves clue in structure :) If we go to the daily Timeframe we can see -Lots of long wicks to the upside suggesting more selling pressure -Price bouncing of trend line acting as Res This setup aint the best simply because we prefer setups that include breaks of trendlines or triangle formations etc but it will do as theres not alot going on in the market and lots of news about altho its a good setup just not as many confluences we would like our entry 1.07731 Happy trading :)
Short
by ARFXC
1