Magentzone
AUDJPY Sell IdeaD1 - Triple cycle down and price respecting downtrend line.
H4 - Magnet zone formed with 38.2 fibo retrace of the triple cycle, 100 fibo extension of the double cycle and the downtrend line.
Potential bearish divergence forming and if the price moves higher and reaches this magnet zone, we can look for bearish reversal and join the bears.
Note: As we are nearing the end of December and we are trading the Daily + H4 combination please be careful with this trade as we might get stuck here during the holiday period. The closer we get to the end of December our trading is going to become shorter term like H1, M15 etc…
EURAUD Buy IdeaD1 - We have big uptrend line and price is being respected.
H4 - We have a big cycle and magnet zone. Potential bullish divergence forming.
H1 - Price reached magnet zone and has now moving higher breaking the downtrend line.
The uptrend line and magnet zone on this H4 chart should hold in order for us to look for buy opportunities.
AUDCAD Sell IdeaW1 - Price moving inside a channel.
D1 - Triple cycle completed and we may expect the price to reach 50 Fibo retracement and a reversal to happen from there.
H4 Scenario 1 - We may expect a small correction and after that the price to reach the magnet zone and a reversal to happen from there.
H4 Scenario 2 - We may expect a reversal to happen from the zone where the price currently is.
It is always recommended to look for confirmations before we jump into a trade.
EURNZD Sell UpdateH1 - Magnet zone broken up and holding at the moment.
Setup is not valid until the price is above this zone.
If the price gets back inside the zone, then our plan is valid.
