The USDCHF is setting for e SHORT trade up on the lower time frames. After breaking the Daily Support Area, price has retraced and retested that area now becoming a Daily Resistance area. This move coincides with a Strong Daily Downtrend as well as a 61.8 Fib Retracement. Indecision bars are forming on the 4hr charts indicating a potential turn for a Short Trade.
The USD has had some movement and against the CAD has provided two cycles of cyclicity and good price action setup to enter in a short position. Im entering if a new low is created on the daily charts and have my stop positioned above the 8hr indecision bar. For this trade I am looking for a 1:1.7 trade.
The CHFJPY looks primed to go LONG. After retracing back to a nice Horizontal and Trendline Support area, it sits in waiting eager to return to that uptrend.....
A cnie setup on the USDJPY. Bouncing off a horizontal support as well as an uptrend Trendline. Yesterdays Daily bar was a nice low test bar (reversal bar). The uptrend also identifies good cyclicity.
Price has stalled on a strong Support level and provided a 12hr indecision bar. Stochastics and MacD have each identified Bullish reversal divergence on various time frames from the Daily down. I will utilise the Indecision bar to place a LONG trade a few pips above and place my Stop a few pips below. I have identified my Target level as an area of previous...
On Friday last week the NZDUSD commenced a potential reversal. After re-opening on Monday the pair has pulled back towards Support which looks like a retest to go long. I am utilising a 78.6 Fibonacci Level to gain my entry on a limit BUY. Should the pair pullback that far, the Trade will trigger to go LONG. I am looking at a split trade for this move. If Price...
After stalling on Resistance the USDCAD -0.06% has provided a 12hr indecision bar that I will use as my Entry for a SHORT Trade. I will set two profit levels consistent with lower time frame Support Levels. My Entry and Stop will be taken a few pips either side of the 12hr Indecision Bar. Fridays High Test Bar should be considered when placing your Stop. That...
After a preceding bearish trend (inside a range) on the AUDJPY (Daily), indecision has formed on Support. This provides a potential reversal trade. I am looking at a 1:3.2 LONG position with this trade. My entry and stop are positioned a few pips either side of yesterdays DAILY Indecision bar (Green bar). You may also like to add your spread to those positions.
After a preceding bearish trend on the NZDUSD (6hr) indecision has formed on Support. This provides a potential reversal trade. I am looking at a 1:1.8 Long position with this trade.
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After a preceding bullish trend on the US Dollar Index (Daily) indecision has formed on Resistance. This provides a potential reversal trade. I am looking at a 1:2 Short position with this trade.
If price stalls on the support level identified as ‘Profit Level 1’ I will take 50% of my profits and bring my Stop Loss to a Break Even position to see out the...
