DaneelDouglas

DaneelDouglas

trend continuation at 38% fib level

DaneelDouglas

We like to take a contrarian view on retail trader market sentiment, with most retail traders being strongly bullish on this pair we are thus looking to go short. Going short at this area is very plausible because the trend is down. Furthermore, there is evidence that this will be a powerful rejection because these two currencies' strengths are different...

DaneelDouglas

We like to take a contrarian view on retail trader market sentiment, with most retail traders being strongly bullish on this pair we are thus looking to go short. Going short at this area is very plausible because the trend is down. Furthermore, there is evidence that this will be a powerful rejection because these two currencies' strengths are different and...

DaneelDouglas

We like to take a contrarian view on retail trader market sentiment, with most retail traders selling on this pair we are looking to buy from this area. Going long at this area is very plausible because the medium trend is up. Furthermore, because this is a medium trend setup we do not expect AUD to be completely stronger than CHF in time frames over the...

DaneelDouglas

We like to take a contrarian view on retail trader market sentiment, most retail traders are shorting this pair, but i will explain why i am also consider shorting further in this comment or when the trade develops more. Going short in this area is very plausible because the trend is down, it also makes me feel comfortable shorting with other retail traders...

DaneelDouglas

We like to take a contrarian view on retail trader market sentiment, with most retail traders being 50/50 on this pair we are looking a large break out at this area. Going long at this area is very plausible because the trend is up. Furthermore, there is evidence that this will be a powerful rejection because these two currencies are both weak and converging...

DaneelDouglas

We like to take a contrarian view on retail trader market sentiment , with most retail traders going long USDJPY we want to go short since we all know 90% of traders lose. This also lines up well with the fact that the trend for USDJPY is down on all timeframes up until the monthly. Furthermore, there is evidence that this will be a powerful rejection because...

DaneelDouglas

A potential triangle is forming on GBPUSD. The medium and long term trend reflects a bearish momentum. Leading me to have a short bias. Currently, this is exactly the moment in a currencies cycle when a triangle is formed. Buyers and Sellers for this pair are neck and neck each holding nearly 50% long and 50% short positions, a perfect time for a breakout trend...

DaneelDouglas Updated 

Because AUDJPY and AUDNZD are both hitting this high probability zone at about the same time, we are looking to go long. I would however need to wait for aud to show some more strength compared to other currencies to confirm this area. Although the correlation rate is 15% between these pairs, having both hit such a area could lead to a mean continuation to the upside.

DaneelDouglas

Because we dont know if price will ever reach this area. We connot put our limit orders there just yet. This is a trend continuation setup and we are looking for AUD to show strength and for a good correlation setup.

DaneelDouglas Updated 

Because of the momentum shooting through this area due to news there is a lot of pressure that will push price to upside once touched. It also helps that this area is very small meaning i do not have to wait for price action but put a limit order that will get an immediate bounce on touch. It also helps that this trade lines correlates and lines up with other...

DaneelDouglas Updated 

The reason i am taking this trade is because it agrees with correlation and currency strength. It does not contradict with the direction of other currencies i am trading. It is at a great area of support and resistance. This is a more riskier trade and based on momentum of rejection determines if i take profit at 1:1 or 1:2.

DaneelDouglas Updated 

Eur and Aud are both strong currencies but because they are both strong we are looking for a huge move to separate them. Currencies do not like to share the same level of strength, one must be the strongest. This is a powerful trade because it takes into account correlation, strenght divergance, and support and resistance. Although i am entering for a 1:2 R:R...

DaneelDouglas Updated 

This is a high probability trend setup. it takes into account currency strength, correlation, and trader incentive. Furthur back you can see a high volume support/resistance area making this an area where a direction will be chosen, which is most likely down in the direction of the dominant trend.

DaneelDouglas Updated 

This is a trend continuation trade. It takes into account the strength of each currency with Cad currently being stronger than aud. This is a 1 risk 2 reward trade setup. ADX has crossed into selling zone on the hourly.

DaneelDouglas Updated 

This is a trend following setup. I identified the previous day's resistance which we hope will now be used as support. We see a bounce and c confirmation from that area with an engulfing candle on the 4 hour. Stop: 82.365 and tp: 83.300