TraderMozo

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PAIR IN FOCUS: GBPNZD ACTION: SHORT 2 possible routes for a Short plan: - First route would be a direct drop from current price. - Second route would be a further retrace higher and retest of the rising channel again before a drop. Price has broken down from a rising channel and retested the lower bound of the channel. Expecting price to continue its breakdown...

TraderMozo

PAIR IN FOCUS: AUDUSD ACTION: LONG Similar to AUDCAD analysis, there are conflicting RSI divergences on different time frames (i.e. H1 and Weekly). Overall, looking towards the weekly price action, which may take a longer time to reach TP because of the time frame used. On H1, there is BEARISH RSI divergence, while on the Weekly chart, there is BULLISH RSI...

TraderMozo

PAIR IN FOCUS: AUDCAD ACTION: LONG This is a WEEKLY trade and will require some patience. Currently, there are RSI divergence signals on H1 AND WEEKLY charting, with both having opposing views. On the H1 chart, there is BEARISH RSI divergence, while on the Weekly chart, there is BULLISH RSI divergence. I believe the case for WEEKLY is stronger as Bullish...

TraderMozo

PAIR IN FOCUS: USDJPY ACTION: SHORT A bearish engulfing candle on the Weekly serves as a Short trigger. Going down to shorter time frames, price seems to pause at my previous TP Zone. Expecting price to retrace higher into Fibonacci retracement + near support/resistance levels, which would also offer a better R:R on this trade. Observe for bearish price action...

TraderMozo

EDUCATIONAL PURPOSES: There are several indicators that one can employ during the course of analysis. One common indicator will be the Relative Strength Index. What can you draw from this indicator? Overbought and Oversold signals! However, one can also use this indicator to spot divergences in the price and the relative strength! Above are 3 examples of...

TraderMozo Updated 

PAIR IN FOCUS: USDJPY ACTION: SHORT Price has printed a bearish engulfing candle which serves as a short trigger. Price is currently at the bottom of the critical zone and formed a lower swing high. Expecting price to break down the trend line this coming week alongside a bearish bias on a few USD pairs in the near-term. The TP Zone and Stop Loss have been...

TraderMozo Updated 

PAIR IN FOCUS: EURUSD ACTION: LONG Price has formed an inverse H&S pattern which is a reversal pattern to the upside. Observe for a retest of the neckline OR the nearest support/resistance level, and also for BULLISH action before any entry. Educational purpose : The probability of success is higher for a H&S pattern at the peak of a bull wave. Vice versa,...

TraderMozo Updated 

PAIR IN FOCUS: USDCAD ACTION: SHORT After many days of retesting 1.32850 to 1.33000 range, price has shown a hint of bearish momentum by printing a bearish engulfing candle on the Daily charting. My previous bearish bias still stands for USDCAD. If TP 2 has been reached, we can observe for price to possibly play out a larger scale bearish trade. The TP Zones...

TraderMozo Updated 

PAIR IN FOCUS: EURJPY ACTION: LONG Price has retraced to the 61.8 Fibonacci retracement level and bounced off. Adding on, a bullish engulfing candle on the Daily and H4 charting serves as a bullish trigger. A continuation of a retracement of a larger wave could continue on from here. As usual, TP 2 is a medium-term view, and my near-term bullish bias on EURJPY...

TraderMozo Updated 

PAIR IN FOCUS: USDCHF ACTION: SHORT Price has retraced up and retested the recently broken rising trend channel. Expecting further bearish momentum after the retest and rejection. Looking for a small retrace on this pair for better R:R with a fairly tight Stop Loss at <50 pips (above the retest and rejection candles). This pair will be most influenced by the...

TraderMozo Updated 

PAIR IN FOCUS: GBPJPY ACTION: SHORT GBPJPY has printed a bearish engulfing candle on the Daily charting, giving a bearish signal for a short entry. Looking for a retrace into the entry zone for a better R:R ratio. Observe for bearish price action before any short entries. The GBP will be look towards the Brexit situation for any strength or weakness. The Entry...

TraderMozo Updated 

PAIR IN FOCUS: GBPAUD ACTION: SHORT GBPAUD has been moving in an upward trend channel and yet again touched the upper bound of the channel. This is a counter-trend trade, aiming to provide a good R:R ratio. Since this is a GBP pair, the float has to be larger compared to other currency pairs. TP 1 is the short-term target, while TP 2 at the lower bound will be...

TraderMozo

PAIR IN FOCUS: EURNZD ACTION: SHORT This is a counter-trend setup, and will take some time for it to play out. EURNZD has been in a rising wedge pattern for the past 3-4 months, constantly retesting the upper and lower bounds of the pattern. Waiting for price to once again reach the UPPER bound and retest it (Entry Zone), and expecting price to rebound from...

TraderMozo Updated 

PAIR IN FOCUS: EURJPY ACTION: LONG Price has printed a Bullish Engulfing candle on the weekly charting, signalling a long trade trigger. For this trade, looking for a retrace for a better R:R, with 2 TP areas, TP 2 being a longer-term outlook if TP 1 hits successfully. TP 2 fits nicely into a Fibonacci retracement level of a larger bearish wave. The Entry...

TraderMozo Updated 

PAIR IN FOCUS: NZDCHF ACTION: LONG The overall idea is a counter-trend trade - looking to enter a long position and TP at the trend line which has been broken previously. Price has broken up of a falling wedge, but still in part of a retracement of a larger bearish wave. Price has tested the 38.2 Fibonacci retracement level and slightly rejected it. The Entry...

TraderMozo Updated 

PAIR IN FOCUS: GBPUSD ACTION: LONG A weekly bullish engulfing has formed, providing a bullish trade trigger. Watching for price to either retrace to Entry Zone or continue the bullish momentum. Brexit negotiation and political situation in the UK will largely affect this pair as well. Any negative news will see a downward push, either to the Entry Zone or even...

TraderMozo Updated 

PAIR IN FOCUS: EURAUD ACTION: SHORT After waiting for a month, we now have a signal for a short trade. Price has printed a bearish engulfing candle on the weekly charting, and price has broken recent swing lows on Daily and H4 charting as well. Any dovish action by the ECB will aid the bears in pushing down the price to the TP Zone. Looking for a retrace in...

TraderMozo

PAIR IN FOCUS: USDCAD ACTION: SHORT Price has printed a Weekly Bearish engulfing candle, which is a trigger for a short trade. Price has been retesting the broken trend line for a couple of weeks and finally properly rejected it. Looking for a retrace up to the Entry Zone, before dipping back down. There are 2 TP areas for this trade, with TP 2 being a...