I will be looking to enter a short trade in the area depicted by the purple box. From a technical perspective, we can see that should price return to this level it will face overhead resistance from the third touch of the trend line. Furthermore, we have the added confluence of the 50 EMA aligning almost perfectly with the trend line, as well as the fact the MACD...
I will be looking to enter a long trade within the purple box which is a key daily zone that has previously acted as a resistance for price and we are now looking for it to act as support.
We have added confluence to this trade via the blue trend line which we can see has previously been well respected and therefore this increases confidence that this will serve...
The New Zealand dollar has received a boost following the central banks decision to hold interest rates constant. This was in line with the general market consensus, however the boost likely gained more traction as it was referenced that it is unlikely there will be more cuts in the foreseeable.
However, after a strong climb, price is now reaching an area which...
USD/CAD has recently reached an area of overhead resistance where we have previously seen price turn.
We can also see that there is hidden bearish divergence forming on the MACD which I am using as the basis for taking this trade as it tells me that the market is losing momentum - once the MACD crossover occurs I will entering the trade.
Looking for a long once price returns to the golden box. Although the market structure in the weekly and daily time-frames shows us a loss of momentum for the bulls in recent weeks the overall bias on this pair is still bullish when taking fundamentals in to account which suggest further growth for the pound as markets continue to react positively to movements...
Hi all,
Looking for a short in the area denoted by the purple box. I will be setting my stop just above the high of the wick of the green candle also in the purple box.
We can see that there has previously been a strong price response to this area and price has yet to return to it - this increases the odds in on favour.
We also have the fundamentals in our...
Hi all,
Looking for a short when price returns to the overhead trend line. My short term bias on this pair in bearish due to the fact we are now quickly approaching January 31st and uncertainty around the short-term outlook for the pound increases in light of Brexit - therefore I believe the fundamentals are in favour of this trade. We have further confluence...
Hi all,
Looking for a short on EUR/USD if price returns to the trend line in the zone marked with the red box.
When taking into account the weekly time-frame we can see that our overall bias is bearish. Although the market has made lower highs in the last ten weeks or so it has yet to break out of the overhead downward trend line.
The bias is also bearish on...
Looking to short once price returns to the trend line
Although the market has been making higher lows on the daily time frame the overall trend is still bearish when taking into account the bigger picture (daily & weekly). There has also been a strong reaction from where this trend line begins therefore we are looking to trade a continuation of this trend
