GBPUSD H4 - SHORTRising wedge pattern, indicating that the buyers are losing steam. We are looking for a breakdown off the wedge and support area for a potential SHORT if we get a retest onto previous structure.
Tradingstrategy
AUDCAD H4 - SHORTAn idea for the next trading week. Looking towards a breakdown retest formation. Look for a SHORT trading opportunity on the lower time frame to catch a good entry, with take profit at the next support zone area.
GBPJPY H4 - LONGGBPJPY H4 - LONG
Clear confirmation that prices broke a key resistance level, now turned support. We are looking for a pullback onto previous structure @142.300 level for a LONG position upon confirmation, towards the next resistance level.
A trade to take next week.
RSI Trendline StrategyHello, traders!
Last time we considered the topic about the technical indicator's types combinations to increase your profit. I promised you to show in details some strategy which applies combination of the indicators.
Let's consider the TREND + OSCILLATOR strategy which uses the EMA and RSI indicators.
First of all we should define the direction of a market trend. The price is above 200 EMA means that the market is in global uptrend. So, we are going to search bullish signs for RSI indicator.
Today we are going to use RSI in a non-standard way. We will search the RSI downtrend lines breakouts. You can see such line on the chart. When the RSI breaks through this line during the price is in the uptrend it is a buy signal. It is great to have another one confirmation. Here we can see that the price bounced off the 200 EMA and exactly after that there was a massive growth.
Why does it work? During the uptrend we often have the consolidation or correction phases. If the RSI is in the downtrend it means that the asset's oversold zone is upcoming, but the market is in the uptrend and bulls dominate. Thus, the money reaccumulates here and when the bear's activity become weak the bulls push the price above rapidly.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
EURNZD H4 - LONGEURNZD H4 - LONG
Initially, we have a bearish trend and it went into a consolidation period where prices are moving side ways, more of a falling channel/wedge pattern.
Current strength and momentum is bullish therefore, we are anticipating the breakout and retest confirmation for a LONG position
Drop down to the Lower Timeframe (LTF) for a BUY opportunity towards 1.72000 resistance area.
USDCAD H4 - LONGA downside move followed by a falling wedge (side ways, depletion of bullish momentum) and now a breakout with a series of higher swing highs and lows.
Potential LONG if we get a retest onto previous structure or support for a LONG position towards a key level @1.29100 area.
EURCHF H1 - SHORTImpulse bearish leg that broke support area, now coming back to test the broken structure.
Look for price action patterns at the reversal zone before taking the trade.
Be patient with your setups, follow the flow with the market. You can't control the market.
AUDCHF H4 - SHORTAUDCHF H4 - SHORT
Started of with bullish movement followed by side ways or consolidation and now, we are able to see a potential reversal of the bullish trend, made by a series of Lower Highs and Lower Lows.
Prices recently broke the support area and we are looking for a pullback onto previous structure for a SHORT position towards the support area.
EURNZD H1 - SHORTEURNZD H1 - SHORT
Bearish move breaking down the ascending trendline and now came back for a retest, with a strong bearish rejection candle, or pin bar. However, bullish momentum may still be strong given how prices moved up towards the trendline and we may need to look for further confirmation or wait for bullish momentum to die down.
NZDUSD H4 - LONGPush phase breaking out of trendline and now looking to pullback onto previous structure for a LONG position towards the next swing high or resistance area. Look for buying opportunities anytime now.
[AUDUSD Short] 27 Jan, 2021 - Roger V Trading IdeasAUDUSD Trading idea comment:
The previous AUDUSD trading idea provided on the 12th of November 2020 was expired after the breakout of the final SL resistance level of 0.736000.
The direction changed from bearish to bullish after the breakout.
Market during the first half of January in 2021 was very quiet and did not fluctuate much for most pairs.
However, I was looking around at the market on the 10th of Jan 2021 and saw some price action signal with the US Dollar index forming an earlier stage of reversal to a bullish direction.
In relation to this matter, AUDUSD is one of the major pairs that correlate with US Dollar Index.
If US dollar goes strong in its value, inversely AUDUSD goes in a bearish direction. Vice versa with US Dollar index going weak against with AUDUSD.
It took me 17 days from 10th January 2021 to 27th January 2021, to make a decision that AUDUSD can be one of the selected pairs in the list to go for its trading opportunity.
AUDUSD has been in a consolidation of its high and low between 0.769000 to 0.782000 (Still currently on-going with the consolidation.)
What is the reason to finally decided to trade AUDUSD?
It was a tough decision this morning to decide AUDUSD to confirm to have it be a part of the selected trading pairs.
Main factors I see that made my decision for AUDUSD:
1. Price Action
a. Upper shadow high for each candle is lowering each week, and no new highs is breaking up the highest one.
AUDUSD Weekly Chart
a. Descending Triangle pattern channeling
i. It is quite similar to the price action. However, the difference between descending triangle is that, it looks at the breakout of the triangle. If it breaks upwards, it means that the trend will go in a bullish. Vice versa, if breaks downwards then it will go in a bearish trend.
AUDUSD Daily Chart
3. US Dollar Index volatility strength
a. An in depth/ update about the US Dollar index is written in the follow articles
i. 12 Jan 2021 - US Dollar Index (Read more)
ii. 21 Jan 2021 - US Dollar Index (Read more)
Extra Notes:
Taking note that AUDUSD previous effective high happened in July 2017 going pass 0.78XXXX. (Please refer to the image below to see the chart.)
The high gone over 0.78XXX in 2021 is considered the only effective high comparing with the past 3 years.
When new highs are created, to be more conservative it is best to wait for more signals on the higher time frame until it gets more stable and then start after that to have a higher possible winning accuracy for the pair.
Right now, this trading idea is announced. Roger V will put this pair in list to try for its trading opportunity for AUDUSD.
Worst Case Scenario:
Two options:
1. Can wait or ask Roger V on Roger V Diamond Club, to see if the trend is actually true breakout or false break.
a. If true breakout - try to find a lower loss to stop loss.
b. If false breakout - hold it, and carefully look at the weakening signal from M15 to H4. (Same method as looking at the weakening signal candlestick combination taught in group.)
2. Can stop loss straight away at the final SL, if the loss amount has gone over your expectation. (This is to be known before you make any orders.)
Best Case Scenario:
Trend does not breakout final SL of 0.867000 support level.
Once reach target 1 0.895000 and gets resisted and goes in a retracement. Re-entries for long position will be available among the new re-entry trading idea.
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(Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.)
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Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
AUDCHF H1 - LONGDouble bottom onto support structure, making a push phase which broke the neckline resistance and turned into support. Classic breakout retest strategy over here and we can continue looking for BUY opportunities towards previous high.
EURGBP H4 - LONGInverse head and shoulders pattern. This setup will take awhile before it becomes valid. We will be monitoring it closely.
What we are looking for would be a strong H4 breakout and retest onto the neckline structure, followed by an entry on the hourly timeframe for a move upside towards our TP area.
EURCHF H1 - LONGDouble bottom onto a support structure with huge bullish momentum given the current candle, although yet to close.
If the resistance level and trendline gets broken, look for a pullback, retest or trend continuation pattern for a BUY entry towards previous swing high!
Plan your trade and trade your plan.
AUDCHF H4 - LONG & SHORTAUDCHF H4 - LONG
Potential double bottom formation at a support area. Look for bullish pressure to take a LONG position towards the upper trend.
Otherwise, wait for a strong breakdown and pullback for a SHORT position on the lower timeframe, take profit target at the next support area.
Twitter Ban over?Since the ban on Trump and many other people/organizations, Twitter has been an underperformer. There are a lot of reasons why investors would be hesitant given the uncertainty of potential regulation but from a technical standpoint, the stock seems poised for a mover higher. If twitter can clear the down trendline and hold range low levels at 44.00, the stock could reverse the recent down move and head back toward the 53.00 area.
GBPNZD H1 - SHORTGBPNZD H1 - SHORT
Triangle break out, with a bearish impulse move. We are looking for a retest onto previous structure for a SHORT position towards the next support level.
We will place a SELL LIMIT ORDER here.
EURCHF H1 - SHORTRejections can be seen at our resistance area, failing to break through and eventually forming multiple tops. Our entry criteria here, would be to wait for a strong bearish breakdown move followed by a pullback or retracement towards a minor resistance level to consider taking a SHORT position.
Plan your trade, trade your plan. Do NOT let your emotions rule your trades.
EURAUD H4 - LONGEURAUD H4 - LONG
Double bottom formation, and now broke out of it's neckline as well as descending trendline for a potential reversal.
We are looking for a pullback onto previous structure for a LONG position towards the next resistance area.
CHFJPY H1 - LONGConsolidation phase going on now. Clearly looking for a breakout for a directional bias, leaning towards an upside breakout for trend continuation. With a strong breakout, we could look for a retest onto previous structure for a BUY entry.
Review of CADCHF last week two out of three hit target 🎯💲🏦Hello Traders
Hope Sunday and the much needed rest is treating you all well.
I spend parts of my Sunday looking back at the prior trading week. In doing so I've decided to share some ideas on completed trades and the methods I trade our script.
Going forward during the week I'll look to post more live ideas as our script present them on the charts. At weekends I'll use time to review trades I've enter in order to shed more light on my methods.
Here we are working the 30M time on CADCHF.
I have the strategy in use set to a risk reward ratio of just over 1:2. Last week we had three trades of which two hit the take profit target set.
As you will see from the chart I simply enter the trades that present on the chart and get on with rest of my day! I have a TradingView alert set to inform me of a new trade.
These trades took me minutes to place, the two trades played out over a 32 hour period banking 57 pips! I simply wait for the next alert now which might be some time next week.
Our strategy is a trend following strategy, can be used on any instrument and time frame.
When all confluences are met the strategy presents the trade on the chart. I am alerted to this by a TradingView alert.
I simply enter the trade and all of the trade data is printed next to the alert. Take profit and stop loss are set and I simply follow the trades outcome.
The script runs on your TradingView charts and can be used on forex pairs,indices, stocks and crypto. The script can also be adapted to run on the charts to suit how you trade.
The script removes all need for manual trading analysis freeing up so much more time.
One of the most valuable tools the script possesses is the built in strategy tester.
Once I have selected an instrument and time frame to work. I adjust the strategy settings and back test those settings until I find the best settings to then go and place trades on the market.
For the pair in question here the back test data can be found at the foot of this idea. I started trading CADCHF in this manner back in July. The back tester data shown is from January 2020.
This level of data allows our traders to build robust trading plans and strategies. No one can predict the future but this data does help with confidence and removes negative emotions we have all suffered while trading.
Working to rigid planned trading strategies removes all uncertainty around entering trades. For this pair I know the pair has a ROI of 63% and a win rate of 44% based on 109 trades of data, risking 1% a trade on £1000 starting capital.
When I enter trades I simply let them run knowing the back test data backs up this method of trading works. The old me would of regretted the last trade seeing an initial 15 pip gain disappear on the retrace into a negative.
But having a roust proven strategy to stick too I know let trades run and in this case to a take profit hit. The old me would of dipped out and lost out on that profit.
This mechanical way of trading doesn't even see me looking at the charts much other that to place trades and write ideas! Make 2021 the year you spend less time at the charts!
To learn more on the methods discussed please drop me a message.
AUDNZD H1 - SHORTStrong bearish momentum can be seen here as we are looking for a retracement or a pullback onto the support turned resistance level. Look for price action confirmation before taking a SELL position with your target profit at 1.07406
CADCHF H1 - LONGPrices made a bullish rally and now came back for a retest onto a support area. We are waiting for rejections and confirmation on this zone before taking a LONG position towards the previous high.
