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Forextradingsnack

1/12/2020 EURUSD long ideaAnother Forex Trading Snack! The EUR has been trapped inside of a multi year wedge pattern ( indicated by the blue trend lines ) but once it broke out of this pattern it’s bias in my opinion is to the long side. Also recently the DXY index has formed a wedge like shorter term pattern and the exact inverse pattern of the DXY is the gray trend lines indicated on this chart. My idea is buying the dips. My red box is my buy zone as well the bottom of the box is my extreme stop placement. Should orders get filled I would expect the top of the gray pattern line as the first target zone, but secretly wanting a breakout to happen. As always all the best in your trading. A EURUSD landscape daily chart Always remember, Forex Trading is the hardest Easy money you’ll ever make!! Plan your trade, and trade your plan with your individual risk management.
Long
by PipsTradingClub
9-25-19 and CADJPY offers a clean EW 5 wave setupAnd here is another Forex Trading Snack. This pair is offering up one of the cleanest Elliott Wave 5 wave setups right now. I usually post this kind of setups as EW 5 wave. On the chart we have additionally a down sloping channel pattern that is slow in price movement and has over lapping price action forming the wave 3 down to wave 4 in the pattern. This kind of price action often breaks in the over all larger trend. Should that happen the 5 th wave could reach as high as 82.50 to 83.00 some 100 or more pips from current price. I’ve been tracking this pattern for days now, and trading it every time it hits the lower channel support— but as of now still no break higher. All I can say is I believe it coming and will break higher when most of us aren’t paying attention or looking for the break. Once again, my strategy is set a order accordingly to your trade plan. Then live life! When you get the chance check back in on it. Or better yet set an alarm around your order price, that way you will get an alert that a trade is about to go live. If you trade any idea, the risk of loss is all yours. In trading you either make dust or you will eat dust. All the best in your trades.
Long
by PipsTradingClub