BayonetMarkets

BayonetMarkets

80$ presents a very strong ceiling for Crude Oil. On the 4hr and Daily we have seen many failed attempts. Fundamentally, oil has higher projections, but the technicals don't lie. I am now short Crude Oil based on the obvious rejection of this 80$ zone. However, i may come out of the trade if we fail to break through the red circle - That 4hr trendline has been...

BayonetMarkets

NZDUSD has taken advantage of the weak US Dollar and has pushed through its bearish resistance trendline. This is the first break since early August, so this represents a big shift in sentiment. There are several key zones can use as the take profit targets.

BayonetMarkets

Price has been respecting its 4 hour bullish trend line. We have had two selling off phases which have resulted in another leg higher. Providing this trend line is not broken, we can look to trade this pair to the key level of 118.55 which was the last turning point on the Daily Chart. This is a case of follow the trend. 1% risk and 4% return.

BayonetMarkets

Price has been trending to the upside, following a very clear parallel channel. Price is now reaching its exhaustion phase and we can see bearish rejection candles forming at the resistance zone. Stops well above the channel, which if triggered will invalidate this trade and a long opportunity will be assessed. 1% captial risk and 6% potential returns.

BayonetMarkets

Price is now breaking a very important bullish trendline. Price has been forming lower highs, and we are trading below the 50MA Stops are above the 12th October high and behind the 0.2360 level. Two target levels are previous supply and demand zones where there has been a lot of price consolidation.

BayonetMarkets

I am not particularly keen on being net long across Pound positions, but EURGBP has formed a lovely break and re-test. There is a clear selling zone which i am using as protection for my stop. Continued lower highs forming on the 4hour chart suggest a push lower.

BayonetMarkets

The 4 hour and the Daily charts show a very simple and clear support zone where buyers are entering the market. There is no denying that this could be the last uptrend, before another leg lower, possibly breaking past this key support zone. I will be entering shorts at the 67.50 mark, unless we see a break above.

BayonetMarkets

The huge pin bar caught my attention, as a wave of sellers entered the market around the trendline. The direction is in our favour, and there are two key downside targets noted in the short positions. Another trade with simple technicals and a good risk to reward ratio.

BayonetMarkets

Since Cable's reversal at 1.28, we have formed a perfectly clear support line. Fundamental risks are both very real - The USD could suffer or gain from Tariff action. The Pound's make or break outlook is hinged on the UK/EU deal which is being brokered. Until we break this support line, there is a good probability we continue to push higher. Targets at 50% retracement

BayonetMarkets

EURUSD has a clear resistance line which cuts through 1.17 The pair is still forming lower highs on the 4 hour chart. Further tariff commentary has sparked Euro buyers to seek refuse in the single block currency. Once we have broken the 30 minute support line (lighter blue line), I will consider layer more shorts in. There is a triple bottom support line at 1.1532

BayonetMarkets

There is a very strong zone at 1.84 We have seen several attempts to break through it rejected. Moving Average may provide some short term support The EU/UK Brexit deal which is gathering more press may well blow this trade out of the water, but i like the risk reward. The bearish candles suggest sellers are acknowledging the zone.

BayonetMarkets

Trade War tension is heating up again which prompted me to look at USDCHF. The 1 hour chart showed a clear structure, which has now broken and re-tested. The next technical zone which we can use as support is the supply and demand zone at 0.9442 Momentum is on our side.