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Potential Long Position for GBP/USD_Trade Plan 2017.08.04 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still up with price holding above MA200. In H1, yesterday price pull back so deep to the major support area around 1.31060 - 1.31188 after GBP Interest Rate news released. For the last couple hours, price is moving sideways slightly above this area and just broken up minor Ascending Triangle pattern. Trade Plan: As a second chance entry, if price pull back to the support area once again and rejected up, long the market. With Stop Loss 35 pips and Target Profit 85 pips, the potential trade offers 2.43 Reward-to-Risk Ratio.
Long
by arieg1985
Potential Long Position for USD/CHF_Trade Plan 2017.08.04 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 shows the overall trend is still down with price holding above below MA200. However, for the last 1-2 weeks, price shows a great rejection from the bottom and bouncing up higher. Currently in H4 and H1, price is hold slightly above major daily support area around 0.96493 - 0.96827 and above MA200. Price seems consolidating between 0.96298 - 0.97219 for the last 1 week. Trade Plan: If price pull back to the confluences of support area around 0.96298 - 0.96430 (Price Structure, MA200, Fibo Ret 38.2%) and rejected up, long the market. With Stop Loss 30 pips and Target Profit 60 pips, the potential trade offers 2.00 Reward-to-Risk Ratio.
Long
by arieg1985
Potential Short Position for USD/JPY_Trade Plan 2017.08.04 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 show the market is quite consolidating with price moving around MA200 and forming Symmetrical Triangle pattern. In H4, the overall trend is still consistently down with price forming Lower High Lower Low formation and still hold below MA200. Yesterday, price has been rejected down from major resistance area 110.648 - 110.853 and breaks down previous low. Trade Plan: If price bounce back to the nearest confluences of resistance area around 110.231 - 110.375 (Price Structure, Fibo Ret 38.2%-50%, Down Trendline) and rejected down, short the market to follow the potential downtrend continuation. With Stop Loss 39 pips and Target Profit 110 pips, the potential trade offers 2.82 Reward-to-Risk Ratio.
Short
by arieg1985
Potential Short Position for USD/CAD_Trade Plan 2017.08.04 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still down with price hold below MA200. For the last 2 days, in H1, price shows some momentum to the upside after succeeded breaks up confluences of resistance area around 1.25301 - 1.25452 (Price Structure, MA200, Major Down Trendline). However, currently price also seems to form a Head & Shoulders Pattern above previous resistance area now turns to support. Trade Plan: If price break down the neckline and coming back down below the support, can consider to short the market to follow the overall downtrend. With Stop Loss 30 pips and Target Profit 90 pips, the potential trade offers 3.00 Reward-to-Risk Ratio.
Short
by arieg1985
Potential Long Position for USD/CAD_Trade Plan 2017.08.04 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still down with price hold below MA200. Currently in H1, for the last 2 days, price shows some momentum to the upside after succeeded breaks up confluences of resistance area around 1.25301 - 1.25452 (Price Structure, MA200, Major Down Trendline). Trade Plan: If price pull back to this area, re-test it, and rejectd up, long the market to follow the potential of trend reversal to the upside. With Stop Loss 30 pips and Target Profit 100 pips, the potential trade offers 3.33 Reward-to-Risk Ratio.
Long
by arieg1985
1
Potential Long Position for AUD/USD_Trade Plan 2017.08.03 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both show the overall trend is still up with price holding above MA200. Currently, price just broke down the confluences of support area around 0.79557 - 0.79696 (Price Structure, Up Trendline). Trade Plan: If price continues its pull back to the next confluences of support area around 0.78751 - 0.78899 (Price Structure, MA100, Fibo Ret 38.2%) and rejected up, long the market to follow the potential uptrend continuation. With Stop Loss 45 pips and Target Profit 135 pips, the potential trade offers 3.00 Reward-to-Risk Ratio. As an alternative, can utilize trailing stop to ride the trend continuation.
Long
by arieg1985
Potential Short Position for AUD/USD_Trade Plan 2017.08.03 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both show the overall trend is still up with price holding above MA200. Currently in H1, price just broke down the confluences of support area around 0.79557 - 0.79696 (Price Structure, MA200, Up Trendline). Trade Plan: If price bounce back to this area and rejected down, short the market to follow the short term downtrend. With Stop Loss 30 pips and Target Profit 65 pips, the potential trade offers 2.17 Reward-to-Risk Ratio. As an alternative, can add 50 pips more for the second target which offers the total of 3.83 Reward-to-Risk Ratio.
Short
by arieg1985
Potential Long Position for NZD/USD_Trade Plan 2017.08.03 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both show the overall trend is still up with price holding above MA200. However, currently price pull backs from the high for the last 5 days. Trade Plan: If price continue pull back to the confluences of support area around 0.73146 - 0.73451 (Daily Support Area, Fibo Ret 61.8%, MA200) and rejected up, long the market to follow the overall uptrend. With Stop Loss 45 pips and minimum Target Profit 110 pips, the potential trade offers a minimum 2.44 Reward-to-Risk Ratio. As an alternative, can utilize a trailing stop once price breaks down MA20-MA50 in M15.
Long
by arieg1985
Potential Short Position for NZD/USD_Trade Plan 2017.08.03 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both show the overall trend is still up with price holding above MA200. However, in H1, yesterday price breaks down both support area 0.74562 - 0.74654 and MA200, re-test it, and rejected down. Currently, price also continues breaking down the nearest support area 0.74028 - 0.74141. Trade Plan: If price bounce back to this area (which confluencing with the nearest down trendline) and rejected down, short the market to follow the short term down trend. With Stop Loss 30 pips and Target Profit 60 pips, the potential trade offers 2.00 Reward-to-Risk Ratio.
Short
by arieg1985
Potential Short Position for USD/CHF_Trade Plan 2017.06.30 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1, H4, and H1 are all showing the overall trend is still Down trend with price is hold below long-term MA (MA120) and major D1 previous support turns to resistance 0.96403 - 0.96695. Currently, price is bounce back from the bottom slightly above next major D1 support area 0.95227 - 0.95502. To follow the overall downtrend, there are 2 potential entry. Trade Plan 1: If price continues bounce back to the nearest confluence of resistance area around 0.95901 - 0.95961 (Price Structure, Fibo Ret 23.6%) and rejected down, can consider to short the market. With Stop Loss 20 pips and Target Profit 40 pips, the potential trade offers 2.00 Reward-To-Risk Ratio. Trade Plan 2: If price continues bounce back higher to the confluence of resistance area around 0.96169 - 0.96253 (Price Structure, MA120, Fibo Ret 38.2%) and rejected down, can consider to short the market. With Stop Loss 20 pips and Target Profit 60 pips, the potential trade offers 3.00 Reward-To-Risk Ratio.
Short
by arieg1985
Potential Long Position for GBP/AUD_Trade Plan 2017.06.29 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still down with price still moving below MA200. However, for the last 2 days, price bounce back up after rejected from major D1 support area 1.66845 - 1.67683. In H1, price starts to form Higher High and Higher Low formation, the initiation of possible uptrend. Trade Plan 1: If price pull back to the confluences of support area around 1.68992 - 1.69240 (previous resistance turns to support, Fibo Ret 50% - 61.8%) and rejected up, can consider to long the market to follow the potential trend reversal to the upside. With Stop Loss 49 pips and Target Profit 130 pips, the potential trade offers 2.65 Reward-To-Risk Ratio. Since the major trend is still down in higher timeframe, keep in alert if price reversing back down below support area 1.68992 - 1.69240 massively, this Trade Setup may be invalidated.
Long
by arieg1985
Potential Long Position for EUR/GBP_Trade Plan 2017.06.28 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still up with price is holding above MA200 and major D1 support area 0.87353 - 0.87874. For the last 1-2 weeks, price is moving and forming Rising Price Channel with currently in H1 price is moving down slightly below this channel lower line. Trade Plan 1: If price pull back to the confluences of support area 0.87607 - 0.87763 (H1 nearest support area, D1 support, Price Channel Lower Line) and rejected back up, can consider to long the market to follow the major uptrend. With Stop Loss 29 pips and Target Profit 58 pips, the potential trade offers 2.00 Reward-To-Risk Ratio. As an alternative, if price is still moving up with good momentum, Target Profit can be expanded to 85 pips offering 2.93 Reward-To-Risk Ratio. Keep in alert if price continue moving back down below D1 support area 0.87353 - 0.87874 massively, this Trade Setup will be invalidated.
Long
by arieg1985
Potential Long Position for USD/JPY_Trade Plan 2017.06.28 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1, H4, and H1 are all showing the current market bias is up with price moving up above MA200 in all timeframes and try to break above major D1 resistance area (now may turns to support) 111.623 - 112.201. Currently in H1, price is forming Symmetrical Triangle Pattern around this area. Trade Plan 1: If price pull back to the confluences of support area 111.937 - 112.075 (Daily Price Structure, Hourly Price Structure, Symmetrical Triangle Upper Line) and rejected up, can consider to long the market to follow the overall uptrend. With Stop Loss 30 pips and Target Profit 135 pips, the potential trade offers 4.50 Reward-To-Risk Ratio. Keep in alert if price reversing back down below D1 support area massively, this Trade Setup may be invalidated. Trade Plan 2: If price breaks out Symmetrical Triangle Pattern pattern to the upside, can consider to long the market to follow the uptrend continuation. With Stop Loss 30 pips and Target Profit 90 pips, the potential trade offers 3.00 Reward-To-Risk Ratio. Keep in alert if price reversing back down below Symmetrical Triangle Pattern massively, this Trade Setup may be invalidated.
Long
by arieg1985
Potential Long Position for AUD/USD_Trade Plan 2017.06.27 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still up with price is still moving above MA200 and major D1 support area 0.74921 - 0.75145. Currently, in H1, price coming back up above MA200 and breaks above resistance area 0.75649 - 0.7576. Thus, the overall market bias is up in all the above timeframes. Trade Plan 1: If price pull back to previous resistance area turns to support 0.75649 - 0.7576 (confluenced with MA200 and area between Fibo Ret 38.2% - 50%) and rejected up, long the market. With Stop Loss 15 pips and Target Profit 45 pips, the potential trade offers 3.00 Reward-To-Risk Ratio. Keep in alert if price going back down below MA200 massively, the trade setup would be invalidated.
Long
by arieg1985
Potential Short Position for GBP/AUD_Trade Plan 2017.06.26 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still down with price holding far below MA200. However, in D1, price seems hold and currently rejected up with Bullish Engulfing pattern from major D1 support area 1.66845 - 1.67683. In H1, for the last 1 week, price is moving within Rising Wedge Pattern and hovering around its MA200. Trade Plan 1: If price breaks down the confluences of support area around 1.67918 - 1.68075 (Price Structure, Rising Wedge Pattern) with great momentum to the downside, can consider to short the market to follow the downtrend momentum. Since price is slightly above major D1 support, it may be better to wait for the first bounce back after the breaks down before entry. For aggressive approach, can enter right at the break out level. With Stop Loss 45 pips and Target Profit 140 pips, the potential trade offers 3.11 Reward-To-Risk Ratio.
Short
by arieg1985
Potential Short Position for GBP/JPY_Trade Plan 2017.06.26 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level For the majority trend in D1 and H4, the current market bias is still down with price is holding slightly below MA200. However, in H1, price is forming Higher High and Higher Low formation since last Thursday. Currently, it is bouncing back within major H1 resistance area 142.135 - 142.554. Look for further price action and take relevant action accordingly. Trade Plan 1: To follow the majority of downtrend, these 3 conditions should be in place: 1. Price forms false break out of resistance area 142.135 - 142.554 and reverses back down to the downside 2. Price continue breaks down nearest uptrend line 3. Price bounces back up and starts to form Lower High If the above conditions are met, it means the downtrend is still intact and can consider to short the market. With Stop Loss 40 pips and Target Profit 140 pips, the potential trade offers 3.50 Reward-To-Risk Ratio.
Short
by arieg1985
Potential Long Position for EUR/JPY_Trade Plan 2017.06.26 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level Since price formed false break out to the upside from major D1 support area 122.807 - 123.638 on June 15, 2017, currently price is moving up above MA200 in all D1, H4, and H1 timeframe. On last Friday, price also breaks out to the upside from the congestion area in form of Symmetrical Triangle Pattern. Thus, the market bias is still up. To follow the overall uptrend, wait for pull back to previous resistance area now turns to support 124.355 - 124.471. If price shows some rejection to the upside from this area, can consider to long the market. With Stop Loss 35 pips and Target Profit 70 pips, the potential trade offers 2.00 Reward-To-Risk Ratio. As the second target, next resistance area 125.565 - 125.816 would be an alternative, with Target Profit 100 pips, Reward-To-Risk Ratio increases to 2.86.
Long
by arieg1985
Potential Short Position for USD/CHF_Trade Plan 2017.06.25 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1, H4, and H1 are all showing the overall trend is still Downtrend with price is holding down below MA200. However, price also still hold above major D1 support area 0.96403 - 0.96809. Currently in H1, price seems losing its steam and break down nearest Up Trend Line with a good momentum. Trade Plan 1: If price bounce back to nearest resistance area 0.96993 - 0.97077 and rejected down, can consider to short the market to follow the overall down trend. With Stop Loss 20 pips and Target Profit 45 pips, the potential trade offers 2.25 Reward-To-Risk Ratio. Trade Plan 2: If price bounce back higher to previous support area turns to resistance 0.97178 - 0.97291 and rejected down, can consider to short the market to follow the overall down trend. With Stop Loss 20 pips and Target Profit 65 pips, the potential trade offers 3.25 Reward-To-Risk Ratio. Since there are so many Support and Resistance Area close each other, keep in alert for any immediate turning point around these areas.
Short
by arieg1985
Potential Long Position for EUR/USD_Trade Plan 2017.06.25 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1, H4 and H1 are all showing the overall trend is still up with price is holding above MA200 and major D1 support area 1.11044 - 1.11400. Currently in H1, price starts to forming Higher Low and Higher High formation, indicating the first initiation of an uptrend. Trade Plan 1: If price pull back to previous resistance area turns to support 1.11603 - 1.11691 (confluence with MA200) and rejected up, can consider to long the market to follow the potential trend continuation to the upside. With Stop Loss 33 pips and Target Profit 99 pips, the potential trade offers 3.00 Reward-To-Risk Ratio. Trade Plan 2: If price pull back deeper to major support area 1.11322 - 1.11432 and rejected up, can consider to long the market to follow the overall uptrend. With Stop Loss 33 pips and Target Profit 125 pips, the potential trade offers 3.79 Reward-To-Risk Ratio.
Long
by arieg1985
Potential Long Position for EUR/USD_Trade Plan 2017.06.20 D1 and H4 are both showing the overall trend is still up with price holding up above MA200 and major D1 support area 1.11044-1.11400. Currently, price is trapped below the current down trend line. Trade Plan 1: If price continues pull back into D1 support area (even better if it forms false break out to the upside), rejected up, and close back above it, long the market. Wait for the first pull back before entry to confirm the rejection to the upside. With Stop Loss 40 pips and Target Profit 120 pips, the potential trade offers 3.00 Reward-To-Risk Ratio.
Long
by arieg1985
Potential Long Position for USD/CAD_Trade Plan 2017.06.22 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still down with price holding below MA200. However, in D1, price seems hold and currently rejected up from major D1 support area 1.31883-1.32497. In H1, currently price is forming a Rising Price Channel slightly above major D1 support area. Before news event of Canadian Core Retail Sales announced, price successfully break out 3 resistance levels (major down trendline, MA200, and resistance area 1.32806-1.32979). Since the news have Bullish bias for Canadian, USD/CAD is going down. Trade Plan: If price pull back to the lowerline of price channel and rejected up, can consider to long the market to swing the consolidation range. With Stop Loss 45 pips and Target Profit 115 pips, the potential trade offers 2.56 Reward-To-Risk Ratio. Keep in alert if the downtrend continuation is going massive since the major trend is still down.
Long
by arieg1985
Potential Long Position for GBP/AUD_Trade Plan 2017.06.22 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both showing the overall trend is still down with price holding far below MA200. However, in D1, price seems hold and currently rejected up with Bullish Engulfing pattern from major D1 support area 1.66845-1.67683. In H1, for the last 1-2 weeks, price is forming a major Falling Price Channel slightly above major D1 support area. Currently, price is just hovering around price channel upper line and slightly below MA200. It looks like the price is building some momentum. Trade Plan: If price break out the confluences of resistance area (Channel, Price Structure, MA200) with great momentum to the upside, can consider to long the market to follow the trend reversal. Since the major trend is still down, maybe it is better to wait for the first pull back before entry. For aggressive traders, can enter right at the break out level. With Stop Loss 57 pips and Target Profit 117 pips, the potential trade offers 2.05 Reward-To-Risk Ratio. As an alternative, if the momentum is still good when price reaches next resistance area 1.69240-1.69597 and continue breaks it up, Target Profit can be expanded to total 263 pips which offers 4.61 Reward-To-Risk Ratio. Keep in alert if the downtrend continuation is going massive since the major trend is still down.
Long
by arieg1985
Potential Long Position for USD/JPY_Trade Plan 2017.06.22 Legend for price level, trend line, and rectangle: Dark Gray > Weekly Level Blue > Daily Level Red > H4 / H1 Level Green > M15 / M5 Level Yellow > M1 Level D1 and H4 are both show the current trend is still unclear with price trapped between MA200 and major D1 resistance area 111.623-112.201 (psychological level 112.000). However, currently price is holding up above MA200 in all D1, H4, and H1 timeframes. Thus, for the current market bias, momentum to the upside is still intact. Trade Plan: If price pull back to previous resistance area turns to support 110.648-110.771 and rejected up, long the market to follow the short term uptrend. With Stop Loss 27 pips and Target Profit 64 pips, the potential trade offers 2.37 Reward-To-Risk Ratio. As an alternative, the Target Profit could be expanded to 82 pips (if the momentum is still good) and offers 3.04 Reward-To-Risk Ratio.
Long
by arieg1985