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Nakedforex

bat pattern fails to deliver an extended shortOn a fundamental basis, the US economy has shown relative strength to its developed peers. Specifically, in the comparison vs Japan, US GDP has shown a growth of 1.9% vs the last reported number for Japan of -0.3%, confirming long term trend of weakness of yen vs us dollar and the uptrend of USDJPY. Technically we seem to be on a consolidation area, exasperated by a disappointing GDP number on Friday, although it failed to signal a trend reversal even when when a bat pattern was signaled. Possible longs at 115.40 and new shorts at 114.704. --- Sources I've used to study technicals Naked Trading Part 1: How to Trade Price Action Trends www.youtube.com 7 Characteristics of Consistently Profitable Traders www.youtube.com Harmonic Trading Scanner www.shamanforeignexchange.trade Harmonic Trading Volume 1 by Scott Carney www.forexfactory.com
by iSummer
Possible short on GBPUSDSince the USD has seen stronger gains last week, and the long term macroeconomic outlook for the US is of further growth and therefore strength of the USD, we could be seeing a generalized comeback to the uptrend in the USD and the downtrend in GBPUSD. Im biased to a short on the GBPUSD specially since the UK is growing at 0.6% and the US at 1.9%. --- Sources I've used to study technicals Naked Trading Part 1: How to Trade Price Action Trends www.youtube.com 7 Characteristics of Consistently Profitable Traders www.youtube.com Harmonic Trading Scanner www.shamanforeignexchange.trade Harmonic Trading Volume 1 by Scott Carney www.forexfactory.com
Short
by iSummer
EURUSD 1D Naked Forex TradingEURUSD is currently trading within a Potential Reversal Zone (Major support level). We expect price to turn bullish in the near-term before hitting our TP 1, which is a resistance level. If price was to break further through the green trend line, we would expect it to move towards TP 2. If price does not break TP 1, we expect it to continue on its downtrend towards Potential Reversal Zone 2, where another bounce may occur back to Zone 1. A break through Potential Reversal Zone 1 would open up a short play towards Potential Reversal Zone 2.
Long
by Elemont
EUR/USD - Strong Bearish Engulfing Candle Signaling BreakoutA very powerful bearish engulfing candle formed today on EUR/USD. There seems to be an overall bearish sentiment forming on all Euro pairs. This signal looks nice forming below resistance at (1.4400) and being significantly more powerful then any of the consolidation we have seen over the past week or so. Looking for a tight 1:2 RR if possible, but playing this conservatively considering we are currently range bound in the big picture
Short
by themikewwfx
Weak Corrective Pullback Hints at Continued DownsideSince late January, USDCAD has seen a significant counter-trend move to the downside after a sizable bullish run. On it's way down, price briefly found support at the 1.3390 handle (the first blue box) before breaking through it shortly after. After breaking through to the downside, this level got retested twice (the next 2 blue boxes) and met significant selling pressure which had formed a new low. Since then, we have seen a bullish corrective move slowly drifting back toward that major level. This recent strong impulsive bearish move and the lack of any real buying pressure hints at another potential bearish continuation. An ideal place to sell weak corrective moves is the 1.3390 handle. However, given the significance of this level, if volatility increases and this level is broken, this would also be a solid level to buy on retests. And be cautious of spikes in volatility around NFP. If you agree with this analysis, hit the thumbs up. If you want more content like this, follow me. Message me with any questions you have or comment. Happy Trading, Nazar.
by NBent
AUDNZD - Weekly Tweezer TopsJust checking up on my charts for the week and after the close for the weekend before we got a tidy set of tweezer tops on some strong resistance on 1.3000. I'm only going to look for a 1:1 RR on this trade because I'm going counter trend on this as we've just had a breakout past the long term bearish trend line shown. Looking for price to retrace back down to my bullish trend line and support at 0.0925 and go long on a proper price action set up. (yellow zone)
Short
by themikewwfx
1
AUDNZD - Weekly Tweezer TopsJust checking up on my charts for the week and after the close for the weekend before we got a tidy set of tweezer tops on some strong resistance on 1.3000. I'm only going to look for a 1:1 RR on this trade because I'm going counter trend on this as we've just had a breakout past the long term bearish trend line shown. Looking for price to retrace back down to my bullish trend line and support at 0.0925 and go long on a proper price action set up. (yellow zone)
Short
by themikewwfx