EURNZD SetupTrend: Bullish
Structure: Wedge / Support and Resistance
Plan: There are multiple ways to view this trade and I would wait for a definitive move either way before entering.
We can either wait for price to break to the downside out of the wedge then trade it as a parallel channel
or we can expect price to bounce of the lower trend line and continue the wedge pattern to upper resistance at this point we then look for a breakout to the upside and a continuation.
Popular
CADJPY Long SetupTrend: Bullish
Structure: Parallel Channel & Support and Resistance
Plan: We identify a parallel channel and a buy zone, we look for either price to respect lower channel line and bounce to previous high or fall further to the buy zone then move up.
We need CCI and RSI confirmation people entry.
AUDJPY Short SetupTrend: Bullish (ranging on 1hr)
Structure: Head and Shoulders with Bearish Divergence on the MACD
wedge play also possible
Plan:
We identify a head and shoulders pattern on the 4hr timeframe, however this could also be seen as a wedge.
However taking the head and shoulders we have extra confirmation by bearish divergence on the MACD
ideally we would wait until neckline has been broken before entering the trade
CHFJPY Short TradeTrend: bearish
Structure: Breakout/ support & resistance trade
Plan:
We look for price to rebound of previous low (support level) or confirm the breakout of trend then move down to prior lows.
looking at the chart currently it is looking like price will bounce off support and moving average and continue to move down now.
USD CHF Buy SetupTrend: Bullish/ Ranging
Structure: Support and resistance
plan: We look for price to bounce off of previous low / support level and move back to previous highs (upper green line)
We need price to confirm the respect of support as it could quite easily break out to the downside.
Will update trade once/if it confirms.