UnknownUnicorn8360477

UnknownUnicorn8360477

Hi Traders, Last week NZD started a strong bullish move from Monday to Thursday. This was followed by a strong bearish move on Friday. After seeing this, I recalled that another trader said in the forex group chat few months ago that 4 green candles in the week will be followed by the red candle at the end of the week and vice versa. So I scroll through the...

UnknownUnicorn8360477

Hi Traders, This is a short setup for GBPCAD. Price strongly rejected the 0.328 fib level which is also daily resistance. It broke the trend line and resistance and retested it. What are your thoughts do you expect price to continue downwards or not? Remember do your own trade analysis, use proper risk management and be mindful of the spread at market open.

UnknownUnicorn8360477

Hi Traders, There are two possible entries for short opportunities on CADCHF. One, if price bounces off of the support and touches the 4HR trendline. Alternatively, if price breaks below the daily support the second entry will be after a slight pullback. Let me know your thoughts. Remember do your own trade analysis and use proper risk management.

UnknownUnicorn8360477

Hi Traders, AUDJPY is at a key level. Price can easily bounce off this level; however there seem to be a shift from a bullish to a bearish momentum. In order to confirm the change to a bearish condition, I will wait a break below the level. Then, we can look for a slight pullback on the lower timeframe for an entry. Take profit level will be at the next support....

UnknownUnicorn8360477

Hi Traders, AUDNZD is a bullish environment, it is currently above monthly, weekly and daily support. In the most recent price action, price tested the neckline of the W formation, which aligns with the 0.5 fib level. Price bounced off this support and we can expect price to reach the 0.27 fib level. What are your thoughts? Remember to do your own trade...

UnknownUnicorn8360477

Hi Traders, This is a long setup for USDJPY. A simple impulse, retracement to 0.50 fib and a continuation to the 0.27 fib level. But is this move to obvious? I feel that setups may fail just because its "blatant" to all retail traders. Does anyone else have this feeling? Comment below. As always do your own trade analysis and risk only money you can afford to lose.

UnknownUnicorn8360477

Hi Traders, This looks a nice setup for a short opportunity on EURGBP. Price retraced to the 0.50 fib level which aligns with the daily resistance. The strong bearish candle on the 4HR timeframe confirms that price wants to continue downward. I will be looking for an entry on the minor 1HR resistance, perhaps after market open. Share your thoughts. Remember...

UnknownUnicorn8360477

Hi Traders, This is a setup for 16.05.21 once spread calms down at market open. It looks like an impulse, retracement to the neckline of the W formation that aligns with the 0.50 fib level and continuation to the 0.27 fib level. Like and comment below. Remember to do your own trade analysis and use proper risk management.

UnknownUnicorn8360477

Hi Traders, This can be the much anticipated CAD weakness. Entry, stop loss and target areas identified. What are your thoughts? Is this move just the result of news or can we expect continued CAD weakness? Do your own trade analysis and use proper risk management.

UnknownUnicorn8360477

Hi Traders, We can look for short opportunity after a slight pull back to the support level turn resistance. Anticipate tat price will test the neckline of the W formation. Other confluence is the over bought RSI. Let me know what you think. Do your own trade analysis and use proper risk management.

UnknownUnicorn8360477

Hi Traders, This is the first setup for next week. Looking for a long opportunity on AUDCAD, there are two areas of focus where we will look for entry depending how market open tomorrow. The target will be the neckline of the M formation and stop loss will be protected by 4HR structure. Have you spotted any setups for tomorrow? Comment the pair and direction...

UnknownUnicorn8360477

Hi Traders, I think the analysis part of trading is the easy bit. By that I mean most traders usually have the correct direction in mind but timing is difficult. AUDJPY is a classic example. The analysis was simple. Price broke about daily resistance, retested it and I was looking for continuation. I entered the trade but price came back and took me out for a...

UnknownUnicorn8360477

Hi Traders, I post an idea for long opportunity of USDCHF last week (see below). The idea was to wait for break above the daily resistance enter and hold the long position to the neckline of the M formation. Going into the week I was super confident about this move for the many reasons I outlined. In an effort not to miss the move, I tried to long after the 4HR...

UnknownUnicorn8360477

Hi Traders, Price has broken out of the range on the upside and we can expect continuation in that direction. Target will be 0.27 level of weekly impulse. Personally, I will be cautious taking this trade because of NFP tomorrow. As always do your own trade analysis and use proper risk management. If you have any questions about trading, please feel to reach...

UnknownUnicorn8360477 Updated 

Hi Traders, Potential long setup on NZDCAD. Entry at 4HR support if price closes above the daily resistance, then retraces to the level. Target levels are the 0.328 fib level and neckline of M formation. Additional confluence is bullish divergence on the 4HR and 1HR timeframes. Let me know what you think in the comments. Do your own trade analysis and use...

UnknownUnicorn8360477

Hi Traders, My bias for this pair is long. Simply because it has not retrace to at least the 0.328 fib level on the monthly timeframe. So we can look for a long opportunity if the daily candle closes above the trendline. What is your bias, comment below. Do your own trade analysis and use proper risk management.

UnknownUnicorn8360477

Hi Traders, Price has tested the neckline of the M formation and formed a triple top at the area. Additionally, we have seen CAD weakness across all pairs today. We can look for potential short opportunity to the daily support level. (Enter now or wait till market reopen and spread calms down.) What are your thoughts? Do your own trade analysis and use proper...

UnknownUnicorn8360477

Hi Traders, Here is a long opportunity for GBPNZD. If price goes above the 4HR trendline and resistance level around 1.932, we can look for a long opportunity after a slight pull back. I do want to acknowledge that price may test the weekly support at 1.91 before making the move to the upside. So trade with caution. What are your thoughts? Do your own trade...