Our USDCAD long trade was finally taken out at 1.29500 after being long from 1.27900. We were looking for a move of 350-450 Pips but the reversal happened prior to hitting our minimum target of 1.31400. The pair traded back down to the EMA while our MACD began to close. In hindsight we should've taken the higher profit instead of being greedy for an extra 50 Pips.
EURCAD is attempting to setup for our 3 step scalp MACD trade. Strategy details are listed below: 3 Step Scalp MACD Bullish: 1) Look for a trend to develop to the upside in conjunction with a bullish MACD. 2) Wait for a close below the EMA in conjunction with a bullish MACD. 3) After a close back above the EMA in conjunction with a bullish MACD take a long...
We will be watching USDJPY for a 3 step scalp MACD trade this evening. Strategy details listed below: 3 Step Scalp MACD Bullish: 1) Look for a trend to develop to the upside in conjunction with a bullish MACD. 2) Wait for a close below the EMA in conjunction with a bullish MACD. 3) After a close back above the EMA in conjunction with a bullish MACD take a...
Keep your eyes on AUDUSD for a 3 step scalp MACD trade. Trade strategy listed below: 3 Step Scalp MACD Bullish: 1) Look for a trend to develop to the upside in conjunction with a bullish MACD. 2) Wait for a close below the EMA in conjunction with a bullish MACD. 3) After a close back above the EMA in conjunction with a bullish MACD take a long...
Watch GBPCHF the rest of this evening for a trade off the 1H chart. The trading rules are listed below. 3 Step Scalp MACD Bullish: 1) Look for a trend to develop to the upside in conjunction with a bullish MACD. 2) Wait for a close below the EMA in conjunction with a bullish MACD. 3) After a close back above the EMA in conjunction with a bullish MACD take a...
One to watch the rest of this evening is USDCHF for a trade based off the 1H chart. Below are the trading rules: 3 Step Scalp MACD Bullish: 1) Look for a trend to develop to the upside in conjunction with a bullish MACD. 2) Wait for a close below the EMA in conjunction with a bullish MACD. 3) After a close back above the EMA in conjunction with a bullish MACD...
We had a nice long scalp trade on AUDJPY earlier this evening, which was given ahead of time on Periscope and Meerkat. We are now stalking this pair for a short scalp. We need to see the MACD turn bearish with AUDJPY trending to the downside. The following setup would then need to be seen. The pair will need to have a pop and close above the EMA while the...
We will be stalking AUDJPY for scalping opportunities. Watch the MACD to trend bullish or bearish, wait for the pair to close above or below the trendline before taking action. On a short you want it to close above and then back below the trendline while MACD remains bearish, vise versa for a long trade. If you can add volume on your MT4 your will want to see...
We will be stalking EURJPY for a possible long scalp on the 5 Min chart. The 15 Min chart is seeing a push higher while attempting to break out of a wedge. The 5 min just saw the pair close below the EMA while still maintaining a bullish MACD, if we can get a close back above the EMA and the MACD remains positive we should have a green light for a long trade.
The NZDJPY short scalp worked out nicely. We were watching both the 5 and 15 Min which were contradicting each other. The 15 Min was in a downtrend but showing a possible long which made us turn our attention to the 5 Min chart which was indicating a possible short trade. Once the pair closed back below the EMA and the MACD stayed in negative territory we had...
Please see our other analysis on EURJPY on the 5 min as we inadvertently sent this chart to be published.
NZDJPY is setting up nicely for a scalp trade on the 15 Min chart. If we can get a close above the EMA while the MACD is still in positive territory it will give us the all clear to take this pair long. Our stop will be 81.800 to 81.700 wherever you feel comfortable.
GBPUSD is forming a nice wedge pattern on the 15 Min chart. It is setting up nicely for a scalp trade which could be triggered in the next few hours. On a break of the wedge keep in mind you want the pair to break any support or resistance which may lie within the wedge. Since there is no telling which way GBPUSD will break you will have to be prepared for a...
*Update: This pattern has failed to complete formation therefore cancelling the trade idea. USDJPY is in the process of forming an ABCD pattern on the 30 Min chart. Although this pair has been in an uptrend over the past year we can expect this pattern to play out, and if proven correct it will present a nice short scalp opportunity. Prices should stall...
Update: This pair has failed to complete formation of the pattern, therefore cancelling the trade idea. EURNZD is in the process of forming a Gartley pattern on the 1 hour chart. This pair could be setting up nicely for a scalp trade if prices rise up near point D. The projection of point D forming near the figure of 1.66000 which will also be a tough price...
Keep an eye on USD/JPY over the coming weeks. Point D should hold if we get a sell-off, obviously give or take some pips around point D. We could see a very solid rebound from the 120.000 level.
A Gartly pattern is forming on EURJPY as shown on this daily chart. Gartley patterns are to be traded on point D but with the latest Greek deal and our algorithm giving a long signal we will take a long position and trade this pair while the Gartly pattern is being formed.
GBPUSD has held the trendline on the 4 hour chart over the past 3 1/2 months. Buyers are firmly in control at this stage of the game. We would like to see GBPUSD trade above our moving averages before initiating a position. W will be buyers above 1.56400, stop set at1.55200. Target are 1.57550 - 1.58000.