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GBPUSD, 4hr tf, sell on confluence of resistanceHello my friends, Today we are going to sell GBPUSD as i think price pretty much overbought and looks like bulls start to exhausted. If we do an Elliott Wave count, we found that we are at the end of Wave-5 and pretty much we will see an ABC correction soon. Price also moving inside this upwards channel respecting it for the last 4 weeks. Finally it come to meet an area of confluence resistance at 1.3485 and was rejected from it twice already. With this second rejection at this resistance then i am convinced we could try selling GBPUSD now. Sell GBPUPSD 1.3475 Stop loss 1.3520 Take profit 1.3295 (4R) RR ratio 1 : 4 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
2
EURJPY, daily tf, sell on strong resistanceHello my friends, As you can see there is an inverted head and shoulders pattern in this pair. Price broken above the neckline and continue to shoot up without retesting those neckline. In my opinion, this impulsive movement will soon exhaust and get a correction because price just shoot above the neckline without retesting it. After marking our horizontal level support and resistance, we could start trading between those zones. Right now i think, price pretty much overbought and exhausted. It is shown by previous daily candle which was rejected from 126.45-126.75 resistance area. I think it is about time price retrace to retest those neckline at 125.00 area. I am going to sell this pair in order to capitalize this retracement. Sell EURJPY 126.45 Stop loss 126.85 Take profit 125.05 (3.5R) RR ratio 1 : 3.5 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
GBPCHF SHORTOn the daily chart, you can see the wick of the previous candle has touched my monthly level and a following extremely bearish daily candle suggests price will continue to fall from here. I believe it is in the process of retesting although I'm not sure where it will retest to so waiting for a short opportunity. I have plotted my fib levels on the daily timeframe. This could be the start of a downtrend but I wouldn't take the short until a strong bearish rejection off one of the fib levels. You can see a downtrend on the 4hr timeframe more clearly. If this goes in favour of a short, I'd expect it to at least reach 1.19315. I'm a beginner so please point out any tips or flaws in my thinking!
Short
by UnknownUnicorn8813949
GBPUSD, 4hr tf, sell on conlfuence of resistanceHello my friends, I hoped you all are doing well with your trading. I myself am having a bad week as some positions hit stop loss. This week alone i got 4 positions hit stop loss and got 8% loss banked. Each trade was using 2% risk so in total it was 8%. Well thats not a problem because everybody will have a bad week or months in trading. Nothing to be a shamed of. For today i am gonna trade lightly and i already got some positions in mind which looks very interesting. First is GBPUSD pair. As you can see, price still moving inside the ascending channel which could be a potential bearish flag in the future. Price currently moving into an area of confluences which is the meeting point of ascending channel and horizontal weekly resitance. In my opinion, we could see sellers step in to hold this area and a rotation to the lower side is likely to happen. Sell GBPUSD 1.3265 Stop loss 1.3300 Take profit 1.3160 (3R) RR ratio 1 : 3 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
Waiting for Retest of Bullish Engulfing To CompleteWe're going to be trading off the results of the bullish uptick and the partial retracement from last week. It is actually a bullish engulfing on the daily timeframe. If we go back down, he may bounce from the daily zone of 1.71798, then head to the weekly level at 1.70366. Otherwise, we'll continue to go bullish once the retracement is complete as soon as we pass the daily level. BULL TPS: • 1.71684 • 1.72830 • 1.73672 BEAR TPS: • 1.70968 • 1.70498 • 1.69885 only if the retest of the engulfing candle on the higher timeframe fails and we pass through the weekly level.
by NikaJourney
CADCHF - NEXT MOVE - COT REPORT - SEASONAL Hello, traders! As we can see we have some obvious bearish pressure from the CADCHF pair for some time now. This is due to an increase in long orders for the CHF as investors move their money into safe bonds and currencies with Low-interest rates during a global pandemic. We can see an increase in CAD short orders and an Increase in CHF long orders from last week's COT report showing us that we could have a high possibility of a move to the downside.
Short
by CQRFX
2020-10-12 XAUUSD OutlookThis morning during NY Session, a small ranged zone formed allowing excellent scalping opportunities. The current holiday halted momentum leaving price in a consolidation block that has yet to break. I'm personally bullish on this break. I would like to see us test the daily green at ~1916 and then move to break the previous high and test at the weekly. My bearish scenario would be failing through ~1916, failing to come back up and riding price down to ~1898. Please give me a follow and leave a comment below if you agree or have any insight!
FX_IDC:XAUUSDLong
by pipdrifter
7.10.2020 - Monero (XMR / USD)Hi Traders! Today we will look at the well-known cryptocurrency - Monero. If you compare Monero chart with the charts of other cryptocurrencies, you can observe one absolutely fundamental difference. What is that? Monero is currently at its peak since the March declines. If you look at other cryptocurrencies, for example, DeFi projects have generally fallen by more than 60%. Other altcoins have also fallen by about 50% since the last high. Examples are DOT, LINK, ADA, or XTZ. Monero is even above the strong psychological threshold of USD 100. Looking at RSI, it is clear that we are following the trendline, but we also see divergences. The chart also holds the trendline, but it has a fairly sharp angle. We have strong resistance at USD 121.43. We doubt that we would be able to breakthrough in this trend. The first thing we will watch is the fall of the trendline on the RSI and then on the chart - then there will be a decline. May the crypto be with you!
XShort
by DolleroTechnology
2
2020-10-02 USDJPYI'm viewing USDJPY from a bearish perspective. We fell from a previous zone and crossed through the 200EMA. We are now under the cloud testing the 200 EMA. I think we could be forming a rising wedge. I think over the weekend, we'll head down and see a possible reversal when the market opens back up on Sunday. I'll be looking to enter the reversal. We are approaching a cloud of resistance on the 4h that could cause the price to bounce around. We could potentially find support on the cloud and head up, but I'm anticipating the TVC:DXY will lose strength.
Short
by pipdrifter