Trendcontinuation
SELL GBP/USDWe are in overall downtrend on W, D
there is nice bearish pinbar from Friday (for confirmation we need break and close below)
I used current level as retracement for short position and will add to this short if price will continue higher around 1.2970
Bearish Trend Continuation NZDUSD 1HR TFHi guys, what I'm looking for in NZDUSD is that of bearish trend continuation. As we have seen strong bearish momentum recently within this pair to which price action made a new structure low (NSL) at .6540's.
I believe that following the short term bullish relief we have seen from .6540's that as price action has now retraced into the most recent area of consolidation and levels of structure in the market at .65911 - .6622's, that we might see selling pressure being to enter this market once again due to it being an area of interest for sellers in the market.
I will then be looking to get short within the identified kill zone at .65911 - .6622's, as RSI has gone massively OB and so I will be looking for price action to print a valid LLLC candlestick and if fulfilled, I will short next bar entry in anticipation for one final retest of the lows down at .6540's.
However, if I do not see my rules fulfilled and buying pressure continues to increase and violates structure resistance OR) up at .6622's then this will invalidate my analysis for bearish TC.
Trade with confidence,
Henri.
** GBPUSD ** Short Order Pending Short Order pending at 1.28520
T1: 40 pips
T2: 80 pips
Stop loss is 40 pips
EURUSD - The $1.15 level Is Important To MeHey traders!
I've had a lot of request here on tradingview to provide an update on my $EURUSD outlook so here we go. However, before we get into that please understand that as a longterm swing trader, my views don't change too often. There are a handful of levels in the market that are important to me & most of what happens within those levels has no effect on my longer-term outlook.
On the chart above, you can see that price never pushed high enough to change my longer-term opinion. However, i would like to see some more confirmation before looking for ways to get short and that confirmation would be a violation of the $1.15 level.
As always I'm wishing you guys a great week of trading. I'm excited to be back in the markets just in time for the volatility spike. Good luck out there!
Akil
Trend continuation on the AUD-USDprice just failed to close above the resistance level 0.72122 and looking left the trend is down good opportunity for trend continuation
Going LONG on GBP-USDprice formed a descending triangle and reversed to the downside however there is a strong level at 1.29264 . At this level the market is likely to reverse.We can also see that the market is loosing momentum to the downside. When you plot a retracement you can see that the .618 perfectly aligns with the support level. This provides an entry signal to go long.
GBPUSD - Bull Flag Forming Yesterday I shared an idea on the GBPUSD talking about a potential move higher to the $1.31-$1.32 levels and there being 2 ways to attack that type of trade.
1) The pullback trade which was featured in yesterday's post and 2) A breakout trade which I'm featuring today.
Currently price action has come off of a high momentum Bullish move and is now in a period of short-term sideways consolidation. This particular pattern formation is called a Bullish Flag pattern and the prediction is that we will see a continued move higher from it. Essentially the market is has made a big move, and is taking a break before the continuation of that move.
Aside from the high and tight flag, breakout patterns don't necessarily offer the highest win percentage. But if you're like me, meaning you can care less about win percentage, you'll notice that the risk reward is often in your favor with these types of moves.
Akil
Excited for some College Football this weekend! and USA v. Brasil competing up the street from me!
AUDCAD Trendline Retracement - Fibonacci 61.80% BuyAUDCAD Trendline Retracement - Fibonacci 61.80% Buy
