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EURCHF: Update & Bearish Outlook 🇪🇺🇨🇭 This week we spotted a bearish breakout of a key level on EURCHF pair. I was patiently waiting for a retest of the broken structure to look for shorting opportunities. Today I finally spotted one. The price formed a double top formation with a lower high on an hourly time frame. Its neckline breakout confirms a coming bearish move. Initial target - 1.01 ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
17
NZDCHF: Potential Trend-Following Trade Explained 🇳🇿🇨🇭 NZDCHF is trading in a bullish trend since the beginning of the year. After the price set a new high around 0.6515 level, the market retraced to key structure support. On that, I spotted a double bottom formation on 4H. To buy the market with a confirmation, let the price break 0.642 - 0.6436 its horizontal neckline. You need 4H candle close above that to confirm the breakout. Goals will be 0.64 / 0.65 If the price breaks the underlined yellow structure to the downside the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Long
by VasilyTrader
9
AUDUSD, Gartley Buy. AUDUSD has just hit the 78.6% Fib level also completing a Gartley. This is where you get the low risk trades with great risk/reward. I traded the C-D leg down as this was a completed smaller Gartley pattern. Now the plan is to either go long to the 0.7280-0.7300 area which would set up a 135 Pattern to sell or we are heading back up to 0.7500 completion of the bigger ABCD. Yesterday was a down day on lower volume which is why im looking for a bounce today. AI also to follow. I hope this helps. Send me a comment with your thoughts agree or disagree.👍👍
Long
by L_F
10
USDCAD: Potential Pullback Trade 🇺🇸🇨🇦 USDCAD is consolidating within a narrow horizontal trading range on an hourly time frame. To buy the pair with a confirmation wait for a bullish breakout of the resistance of the range. You need an hourly candle close above that to confirm the breakout. They buy aggressively or on a retest. Your goal will be 1.2668 In case the price breaks the support of the range, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Long
by VasilyTrader
12
EURUSD: Classic Trend-Following Trading Setup 🇪🇺🇺🇸 Hey traders, As you know I am very bearish biased on EURUSD. I was patiently waiting for a retest of a recently broken key structure. Yesterday the price finally approached that. On hourly time frame, the pair formed a double top formation and then broke its neckline. Now I have my sell limit order on a retest. Bearish trend continuation is expected. Local goals: 1.0945 1.086 ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
5
USD/JPY Symmetric patternI have been looking at this Symmetrical Triangle for quite a while now (that can be glimpsed by checking the disparity in the indexed pictures) and knowing Yen as a safe haven and one of my favorite currency pairs. I am anticipating a potential breakout/breakdown from either the upper or lower diagonal trendline would be a birth of new momentum. Here, patience is the key, there might be no "too late entry" in this setup, but there is definitely a "too early entry point". And that could trigger the psychology of chasing after the price which could eventually lead to loss. Like I said, patience needs to be exercised here. #currency #psychology #fx #fxtrading
by Adefxc
Have we broken the trend ?So i read Andy Constan tweeted his short position on euro yesterday. Before i go in with my money should do my own analysis. Dude is a legend of course but i will have to stick to my rules and do the due diligence. On weekly chart here. Clearly see the downtrend is broken. Currently back testing the upper line of channel. If we make a new local high i will be very confident that trend has changed. But it could be a liquidity trap and we are going down in the near future as this EV count suggests so. A WXY in progress. The Zigzag as W A leading Diagonal as an A of a zigzag but 5th failed to make a lower low. Truncation in diagonals are more common than impulses. B was spot on .50 of lowest point of A ( Zigzag Guideline Met) C of the zigzag was sharp and quick ( Alteration is present) The X wave as a connector was A as a Diagonal B as a WXY C a 5 wave Impluse to end the Expanded Flat correction very near to 1.618 of A Y is in progress. Its looking more like a flat at the moment but we have to see how it unfolds. RSI at .50 in a downtrend looks good for a short. MACD is below the Zero line and moving averages are contracted also suggests a good entry. Bollinger Bands showing price been travelling up and down between median and lower line since june 2021. I think its due for a major expansion soon. No Investment Advice.
by UnknownUnicorn10209036