Still not in a short position but was expecting to see this push down. Just thought id break it down and show the next couple areas I'm interested in, long term I see the trend continuing but ill be looking for longs on the retracement just in case.. always remember to trade with a plan and stick to it!
Price on USDCAD is struggling to break above the resistance of 1.38000, with price looking weak again on the forth rejection. This is creating a right shoulder for a head and shoulders on the 4hr and daily chart. Strength coming back into the USD but the Canadian dollar holding ground for now. Ill be entering shorts with stops tight above the last few rejections...
Sometimes its best to just stay away when we have news events, data releases or any other big fundamentals that can cause havoc in the market. I like to find a position and be in profit before any other influential impacts hit the market, if you siting in a trade near entry and something dramatically changes you can be left in huge drawdown or in a big loss, even...
As always make sure stops are at break even if you took buy trades, price is in an area of 2 key levels as highlighted and can do anything from here... (create a right shoulder for a short) or ( continue long term continuation to the upside). I believe price will be slow and will be waiting for a reaction to the fundamentals before giving a clear direction!
Hey guys just thought id share a possible situation on gold! I'm looking to see if we can create a right shoulder move for a nice push to the upside off and around $1680. Price can either push further down to continue long term down trend or we may see a rejection to create a long term reversal pattern. This is one of my favourite patterns so I've decided to add...
Without going into to much detail I've got 2 areas that I like the support from... major area of 12000 which was the high of 2019s bull run and the area we are currently struggling to break through at 20k which was the high in 2018. I like the idea of short term positions from 20k but I do believe we may make one last push down before bringing the bulls back in...
Looking for price to make a continuation hopefully off the back of some USD strength, as I've covered fundamentals can change things very quick but if you can get a position before anything affects the market you can give yourself the opportunity to catch huge moves! Trade smart and keep on top of your risk management! good luck
Looking to see if price is going to fail its next attempt to push higher, if we do see a rejection and right shoulder ill be taking shorts. Remember we have fundamentals at the end of the week that can change things very quick so make sure you have stops set and if price gets to wild its probably best to just stay out!
Looking for shorts but still holding off for now, price struggling around the resistance but also giving no real direction. Ill be waiting for a better move and if you are taking shorts now I would be keeping stops nice and tight! Never forget the overall directions!!
This one playing out exactly as explained earlier as well as the other USD pairs I was looking at. I didn't take entry's on all pairs cause that would be exposing my account to to much risk from the same currency (USD). Price has now pushed down between consolidation range so I expect the support of 0.64500 to be tapped at the least (taking 30% profit on...
Waiting for a bit of strength out of DXY to continue the overall direction on AUDUSD as AUSSIE dollar is showing no signs of life just yet. As you can see I've highlighted an area ill be looking for entry's off the resistance of 0.65. Price should make a move down even if its short term but hopefully we can catch the long term trend continuation!
Looking for the larger move so position myself at the resistance of 1.15 to try and catch shorts.. even if we dont get a big move from here we should see a small move down at the least to respect short term structure.
Just wanted to share a little insight into identifying trends and positioning yourself in the market for minimising risk and maximising profit! Its import to identify trends both short and long term to understand which direction price is heading and possibly reversal points. Top down analysis mixed with key levels and trend patterns is how I look at the market...
Just a bit of a breakdown on EURUSD.. We are still in a long term downtrend so my radar is still on short positions! I want to see what price does where it is at the moment and see if I can get given the opportunity for another short. We should get a big move down if price action respects this long term downtrend. RISK MANAGMENT personally I never risk more then...
Just monitoring price at the moment to see if this is going to reject off support to also support my other trade ideas or are we going to push lower. Pick bottoms or tops is hard so sometimes its best to just wait for confirmation off some candle stick reversal patterns.
Price rejecting the resistance of 142.000, so I'm looking for a push down to continue a downtrend. Don't really respect trendlines, its just there to give you and idea of the current direction... Always remember to risk manage first and leave your emotions aside, If price doesn't show rejection from the highlighted zone do not take entry's!!!
EURUSD I'm expecting to see another longer term push down to 0.95600 to continue long term trend as DXY bulls still in full control. Another failed push into my sell zone will be confirmation for me to enter shorts to at least take out 0.975 but hopefully back down to long term support at 0.956.
Looking for a right shoulder rejection to either give us a opportunity for a long term short or at least just tap into the support of 0.09. Personally ill be waiting for that initial push down and look for that confirmation fail back up before taking entry's.. but I can see some huge profit potential if price can move in our favour. Just remember DXY is very...