Analysis is the same as the previous trade although the entry is different due to current circumstances. Although there was a whipsaw following the US NFP/CA Unemployment data, the price action has continued to the downside. According to my strategy, I am entering an intraday trade. Note I was previously in a scalp trade, so I adjusted my profit targets of...
USDCAD failed to break the HTF bearish structure and had an impulse to the downside due to weakening DXY and strengthening CAD. Entry pending at Key Level to take the trade down to around TP2 /TP3. I have doubts it will go to targets. This trade will be exited prior to NFP data release.
Based on my strategy, I will be entering a long on EURJPY. EURJPY just had an impulse that broke the bearish structure. I set an entry at the key level, if we get a retest.
Due to bearish DXY , entering a trade based on my strategy. The price appears to have bottomed out and created a LTF order block with the assumption of breaking up above the bearish structure and continuing to the upside. More details included in the chart.
Pre-NY, I took this trade. Unfortunately, it happened so fast, I didn't have a chance to post prior to entering. But I wanted to keep a record for my journal. Note, I also entered GBPUSD but after hitting TP2, I set SL at 30 pips and it stopped out. Details of what triggered the move are included in the chart.
I was in a long on USDCAD and when I saw my trade was stopped out after taking profits, I was examining the chart and realized that it broke the bullish structure. I am now looking to enter a short now. Break of LTF bullish structure. Overall HTF structure is still bearish. The previous impulse rejected at the intraday highs. CAD is relatively...
LTF order block is creating structure at the key level support & bullish structure. High risk trade as this trade was entered prior to the break of the structure. There is a possibility of a rejection at this level. But as DXY and JPY is gaining strength and, EUR has been weak, I am taking a risk to enter now because I have a feeling that the it may create an...
Similar setup as the trade yesterday. - DXY is starting to show strength again. - The price came to the bottom of the channel and looks to have rejected to push up.
Entered a EURJPY trade after the break and retest of Key Level / Bearish Structure. Unfortunately a little late. As my strategy says to enter, I took the trade regardless. I can see EUR strengthening although DXY is slowly recovering, while JPY is weakening. Expecting a continuation to the top of the channel around my TP3. Depends alot on what DXY is going to do...
I would feel more confident in this trade if DXY would choose a direction. It is a little choppy creating this 25 pip range. Details in the chart.
Details in the chart. In my opinion quite risky due to how bullish GBP has been. But need to follow my strategy.
Details included in the chart
Details included in chart
Details explained on the chart But please note the risk involved with this trade as GBP is extremely bullish. Ensure to monitor the price action and ensure you get confirmation before entering. DO NOT ENTER WITHOUT CLEAR REJECTION! In addition, keep an eye on DXY as the success of this trade will depend heavily on the USD strength.
Details explained in the chart. Just a note, I entered this trade last night while the DXY was strong. Since then drawdown overnight but as DXY is starting to gain strength, pushing USDJPY up. For late entries, look for pullbacks, set a low risk with large SL to take into account any DXY weakness. This trade has room to ride.
BTC has broke the trendline support as well as broke the current structure on lower timeframes. This could be the start of a correction to the bottom of the channel. But considering BTC is bullish on higher timeframes, this could just be a fakeout & consolidation that pushes to new ATHs. Similar to the last push up last week. As of right now, I am slightly...
After breaking the H trendline, EURUSD continued up as expected. The move did not reach the strong resistance zone but instead rejected with a double top at the previous high. I would like to see a corrective wave back to the .382 level and potentially below. Thanks for taking the time to read this idea. If you found it interesting, please support my efforts...