USD/SGD - NO IT'S NOT A H&S PATTERN - MERRY CHRISTMAS ALL :)The shoulders are sitting way too low in order for it to qualify as a H&S pattern according to my plan. As a matter of fact there are a lot of signs showing bullish momentum.
1) Weekly Bullish Divergence
2) Soon to be completed double bottoms
3) Flat Correction complete from the most recent impulse
Merry Christmas to you all and wishing you a profitable 2018! :)
My personal details:
Long @ Entry: 1.3350, SL: 1.3270, TP: TBD
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Long-setup
USD/SEK - DON'T BE FOOLED BY THE BREAKOUTThe pair is currently still correcting and we could get one more strong move to the upside. Bear in mind though that in the bigger picture (Monthly chart - which i will post as an update) we are still within a Zig-Zag correction (wave 4 to be exact) therefore I would be very cautious and lock in profits as soon as possible. Note how leg C looks like it's carrying a lot of momentum, but so did leg A before turning. In addition we are seeing an ending diagonal form which is a very common occurrence for the leg C of a Flat & Zig-Zag correction.
My personal details:
Long @ Entry: 8.2677, SL: 8.2565, TP: 8.5180, RR:22.34
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
USD/JPY, 1 STEP AHEAD OF USD/ZAR? As highlighted on the chart it seems as though USD/JPY is 1 step ahead of USD/ZAR. If this is indeed the case then we can expect a monster move up from USD/ZAR. A similar case occurs with the CAD/JPY + CHF/JPY and I have already made a post for those who want to check it out. (see related ideas seciton). As of now there is no clear buy setup for USD/ZAR therefore I'm not interested in buying at the moment and therefore I will not include any details in this post. Stay tuned for updates.
GBP/CHF - ONE MORE WAVE UP OR READY FOR THE DROP?The pair is currently forming an Ending Diagonal . Ending Diagonals tend to form 5 actionary waves, but this is of course not the always the case as they also sometimes form just 3. As of now 3 waves have been completed so the pair will either drop now or will complete the 5th and final wave and drop after breaking/retesting the 1.3400 level. We have no clear signs for a buy nor a sell at the moment therefore it's wiser to see what signs the market gives us (price action) and act upon them.
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
GBP/CAD - +1000 PIP TARGET ALMOST COMPLETE - SEE RELATED IDEASOn the 19th of October I posted a chart on this pair, calling a potential +1000 pip target. Since then the pair has moved 800 pips towards the primary target. What the pair is showing now is a sign that we could be getting one last push up and reach the final target. Triangle corrections tend to precede the final actionary wave and this is exactly what we're seeing form right now now, an almost perfect contracting triangle.
Check out the Related Ideas section to view my last post concerning the pair.
My personal details:
Long @ Entry: 1.7200, SL: 1.7100, TP: 1.7700, RR: 5
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
NZDUSD Accumulation - Potential Buy SetupFX:NZDUSD Accumulation Range Forming - Poential Buy Setup incoming
I'm going to use 2 buy limit for this trade ( one conservative and one more aggressive )
1) Buy limit @ 0.68295
CONSERVATIVE ENTRY - LOW RISK
tp: 0.70603 (230,8pips)
sl: 0.67580 (71,5pips)
Risk:Reward = 1 : 3.23
2) 0.50 buy limit @ 0.67880
AGGRESSIVE ENTRY - STANDARD RISK
tp: 0.70603 (272,3pips)
sl: 0.67580 (30pips)
Risk:Reward = 1 : 9.08
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Spanish Index 7 to 1 shot: IBEX Break above 10470 =11180 targetIBEX Index: Woes over Catalonia haven't really damaged this index at all. Because it ain't going to happen. They have no currency. End of. Anyway, whatever happens there, charts don't lie (more than politicians anyway).
This index has been making a classic 6 month continuation pattern before it bursts higher again. Don't want to get sucked in too early but that's the way it's looking so far...if pattern completes as it should, get ready (set alert) to go long on a break above 10470 for a 700 point rally to 11180, using a stop placed about 50 points under the upper parallel, or as per comment
USDCAD long setupThe USDCAD pair has been in an uptrend in the medium-term direction. Recently this pair has been retracing since the 6th of October. This retracement falls right into the round 1.2500 level, together with a 61.8% retracement off the impulsleg and a forming AB=CD pattern this creates a solid buy setup.
Targets will be taken @1.2586
Stoploss beneath the entry point @1.2480
Happy banking!
USD/CAD - BULLISH BIAS BUILDING UPWe can see that the pair is at the bottom of the channel, and both from the Price Action and the Bullish Divergence (on 12H, DAILY AND WEEKLY TFs) itself we can easily assume that bullish momentum is building up which is why I'd be considering a long position to the top of the channel and when and if the price reaches that point we can then start looking into the next possible move.
Trade safe and do your own due diligence before executing a trade.
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GBPCAD: New Long Entry SetupI recently posted last weekend that GBPCAD can continue higher. If formed an inverted head and shoulder, but havent been showing a strong move that a head and shoulder pattern tend to. We can possibly see this setup come into play. If we do, it will be the best long entry we can imagine for the GBPCAD. I am currently long with my previous post, but if it fails, then I will be following this setup.
Trade with care.