UnknownUnicorn772665
For those that follow me... I have been heavily trading USDCAD on the buy side recently. Intraday and swing trade entries have been showing up but the lower timeframes have been choppy. Here is what I believe to be a solid swing trade set up based off the daily timeframe. With a conservative 60 pip stop loss and target profit at previous daily/weekly highs, there...
NZDJPY has shown signs of a reversal at this level for a while now. The daily resistance zone @ 76.500 is holding strong and we finally have a break of the 1hr bullish trendline with a lower low being made. Price has now pulled back a little and is rejecting the 1hr 50ema from below. Price is also below the daily pivot level so that is a another potential...
Simple trend continuation short trade on EURNZD FX currency pair. Price has been making lower highs on the 4hr for some time now. I am looking to take advantage of this and go short on the next rejection and lower high at the bearish trendline. Fib 0.786 retracement level sits in that region as well. 1.66500 key level sits here and there is previous...
Here is my simple USDCAD long entry based off the current 1hr chart. The bearish counter trendline was broken on Friday with a higher high being made. Price has now pulled back to retest the trendline and the fib 0.786 level. I am looking to add to my current long position on USDCAD that I entered at the beginning of the month. Profit target 1 is at the...
I am now shorting the EURJPY FX currency pair based on the 4hr and 1hr timeframe analysis. Confluences for taking this trade are as follows: - 4hr lower high - Multiple rejections of 0.618 Fibonacci Retracement level - 1hr bullish trendline broken with lower high - Daily timeframe showing tweezer top formation I have placed a conservative stop loss which is 50...
Here is a simple short set up on AUDJPY. Price seems to be making a lower high and rejecting the Fib 0.786 Retracement level. There has been a lot of price action at this level previously so there is potential for good liquidity to be located in this zone. Decent R:R of over 5:1 if we target the previous lows and the 77.500 support region. I would place my stop...
I am currently in a short position on NZDJPY based on the rejection retest of the broken trendline but this is another opportunity to short this FX currency using my simple day trade method. 15minute flag pattern forming 3rd touch of top TL rejecting daily pivot Lower high on the 15min chart Rejection of fib 0.618 SL is 10 pips above the current high. I have 2...
I have recently had a lot of success trading the weekend market gaps forming on a few major FX currency pairs so I thought I would show you another example and explain it in more detail. Market gaps most commonly occur when price moves quicker than the market or, in the case of weekends, when the market is closed. Things happen in the market over the weekend so...
I have been waiting for a decent long term short entry on NZDJPY for some time. Since the original sell off at the end of last year, price as been correcting and forming a large bearish wedge continuation pattern on the daily/4hr chart. We have now seen this wedge broken out of to the downside with a 4hr lower low made. I am now looking to enter on the next 4hr...
There is now another opportunity to enter short on the EURUSD currency pair. I am still holding my short position from 1.14 because price made a lower low last week and it is now forming another lower high so my bias is still bearish. - Lower Lows & Lower Highs - Double top rejection of Fib 0.5 retracement level - Price is rejecting 1.13 intraday resistance...
Here is another example of a very simple yet effective day trade that can be learnt and used on almost any financial instrument, not just FX Currencies. This strategy relies on the ability to spot a trending market in the current timeframe and then utilises a few key trading tools to identify a high probability trade entry. You will need: RSI Trendline...
US Oil rejecting the key resistance zone at $57.50 which is a 3rd touch at this zone. Nice deceleration on the 1hr timeframe By simply buying low and selling high, this set up seems pretty simple. We did see a 4hr lower low on Friday so excluding any complications, Oil may continue to drop off in to the low 50's over the week. Stop loss is comfortably above the...
The 4hr wedge was broken last week and the bottom trendline has now been retested. Although there is no real Fibonacci Retracement level here, there is a lot of structure to the left and I believe the overall bearish trend should continue. Stop loss is above previous highs to be safe.
GBPUSD Long opportunity by utilising the weekend gap down on open. The rest of the analysis for a long bias is the bullish trendline, fib 0.618 retracement and the structure zone at this level on the chart. Stop loss = 50pips I will move my stop loss to breakeven when the gap is closed.
I still have a bearish bias on US Oil with price failing to break higher than its current level for the past few weeks. Last Friday we saw heavy bearish momentum create new 4hr lows before sharply reversing in the afternoon/evening of the UK GMT timezones. Price is now retesting a longer term broken trendline and is back in my liquidity zone marked on by the...
Here is a fairly high Reward:Risk trade set up for next week. GBPUSD is approaching the outer bullish trendline for a 3rd touch and this also coincides with the Fibonacci 0.618 retracement zone. This is a very simple trend continuation set up with a target price of 1.35 achieving a high reward ratio. However! - It takes 3 touches of a trendline to confirm it. So...
Basic short trade. 3rd attempt at short after 2 breakeven trades.
Potential for GBPUSD to bounce from the support zone at 1.31. Lots of price reactions at this zone and we also have the daily S2 level here. Targeting the 15min / 1hr bearish trendline which is a simple and nice 2:1 RR