EURCAD BC-CorrectionNext Entry - EURCAD short.
If this yellow line won't break, here is my next entry. Here it started a greate bearish sequence. Will be my next entry.
Could be also a good hedge to AUDCAD
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Sk
Bears on USDCAD Hey guys I wanna come up with another market: USDCAD.
Unfortunately I'm still not able to make larger analysis, because I can't post any kind of pictures.
Anyways, we are looking at the 4 Hour Chart of USDCAD. If I could only show you the bigger picture, you would probably understand it easier. But I will try to explain it with my words.
The green line at the high is the 1.618 of a target zone resulting of a bullish sequence. At that point the price were also in a bigger correction level (black square which you barely can see).
The market reacted very good and activated a bearish sequence in blue. Looking kinda ugly, but as you can see we are in a valid bearish correction level, therefore picturing a nice sell oppurtunity.
In your 30min chart, you can recognize a little bearish sequence starting in this sell blue sell area, which already got finished and even triggered us peeeeerfectly at the 0.5 correction level of this whole move.
This market is definitely a nice one to sell.
We have enough space to reach the green correction level of the previous mentioned bullish sequence which slightly overlaps with the blue target area. (0.667 of green perfectly lines up with the 0.5 of blue)
That was a fast one, but I just felt like posting this and I hope it was easy to understand for you guys.
Have a nice week.
System learned by Stefan Kassing!
This is not an investment recommendation!
Further drop for EURCAD?Above you can see the daily chart of EURCAD with an activated big bullish sequence (blue).
Since it's a bullish sequence and the chart looks pretty cheap overall (Monthly chart), we would like to see some possible buy areas!
After the first correction to point B we were able to define a new high (number 1). If the market comes down after the previous scenario, we can draw the BC correction level which I named "Previous BC Correction Level" because it is not the current right one.
The market slightly over-extended but created a new higher low (number 2) which led to nearly a same high like point 1. (Nevertheless it's a little bit higher, which led to a new BC-correction level).
Of course this whole move doesn't look like there were enough bulls in the market to push the market further to the top.
EURCAD started a bearish sequence from up there (black) which has its target area right around the point B from blue. We need to remember that every low and every high is a liquidity zone.
As you can remember the low at point 2 gained not enough power from the bullish perspective. The following green bearish sequence seems like it was just drawn right in the middle of the chart. Unfortunately I'm not able to show you more pictures especially from the lower timeframes. I am missing reputationpoints haha. You could see that this sequence started after a consolidation phase which therefore is a valid opportunity to define a new sequence.
The green BC correction level worked very good. The next very attractive buy area is obvious. The green target zone slightly overlaps with the 0.667 line from blue. Since we are still in a valid buy area from the daily chart, this is a nice buy chance we need to consider. Another reason is the price area around point 2, which defines a nice liquidity area. Maybe it just needs to catch a few more buyers to reach new highs.
In perspective of price action it is also possible that it will even go further down towards the black target, to offer a cheaper price which can lead to a gain of a lot of buyers.
Conclusion: I'm looking for buys, especially at the overlapping area of green and blue. If the market is able to build some bullish structure before reaching the previous mentioned area, I will risk buys aswell, since the big blue BC correction level has more supremacy.
Kiwis vs. LooniesThis chart is a little more ... in depth.
First of all, we do not short the market, eventhough we want it to reach the green box, where we are looking for long entries.
Why are we not shorting the market? -> there is no valid structure for us.
We want to buy that market, and enter at either one of the 4 relevant green levels.
Lets take a look at the big picture first!
In the weekly chart, we are in the bullish BC correction area right now:
As you can see, nearly every correction level gave us good entrys. Even in the weekly. As I dont trade the weekly, lets have a look on the daily, where we found the red sequence, to bring price into the blue correction area.
Daily Chart:
from the last high in the weekly trend, a sequence was formed. Our first entry is the correction level of the B to C move. Everything prior is gambling.
and finally we look at what we could do right now:
So lets wait for price hitting our buy area, and enter the trade. Happy Pips!
If you have questions, regarding this system, let me know!
Europe vs New ZeelandWe do have a great possibility right at our hands!
This is a setup with a great RR of 4.17!
The pair is moving sideways in the area where we want it to change direction. In case this first entry should not last, we would still have a "backup entry" with an RR of 11 (!!!).
I am excited to see what will happen here.
Trade safe!
Europe vs USAIn this pair, we have a good chance to see a long move.
Drawn with the long position tool, is the maximum potential we have, not the actual trade I will take.
I do look in the lower timeframes for a similar structure to get a better entry and will only trade an RR of 1:3 and then look for another possible entry.
Here is a possible, hypothetical Setup in the M30, I would trade:
Let's see what the price tells us to do.
Great Britain vs KangaroosAfter a look at this chart, it seems the Kingdom is losing a battle against its former colony :-D
Right now, we do have a nice entry and we could surf all the pips, all the way down(under).
In this case, the bigger picture is important, as it shows us why this trad is valid and has a good chance of giving us heaps of profits:
The yellow sequence gave us 4 (!!) entries to gain profits. This shows us that the sequence is doing what it should and works just fine. If it continues to work this way, we should hit the TP with no doubt. Let's see what happens next!
Great Britain vs. KiwisRight here, we do have a short Chance!
This chart built up piece by piece and offers us a relatively save short entry. All former sequences reacted just as we want to see them react, that is what gives this possible sell entry a good chance.
What if the price doesn't rise, but fall without giving us a sell entry?
-> no problem, as we can buy the price in the target area and go long! Have a look at this possible buy trade:
If you take a close look at the above chart, you'll see that the whole move started with the blue sequence. It retraced into our correction area and started a new sequence, the purple one. this purple one might now be on its way, to give us a new buy entry, and we can take this chance to participate in the down move.
Australia vs. JapanRight here, we do have a long entry. BUT this one is a bit sketchy, so we should use a smaller position.
In the bigger picture, we just finished a Sequence the second time, and so we activated an even bigger sequence, which now could retrace into its B-C Correction level.
All in all, its a bit complicated, but could work. Me personally, I will take a trade, but with minimal risk.
Happy Trading!
PS I will wait for some structure in the M30 to time my entry. I want a small sequence to form. If that does not happen, I will not enter a trade!
Lets have a close look on this one... AGAIN!As mentioned before, now comes the entry!
It was quite a long wait, but now its finally there!
The setup can be found if you click on the link to the previous idea, below!
Another nice thing, about this system: you can count on it ;-)
Have fun with it and trade safe!
Maple Sirup vs ShushiThis pair right here does exactly what I want it to do. So far.
Let's see if it continues in doing so.
According to the plan, this pair should soon start to raise.
The price is in a valid area, to gain now. We need a weak Jen and/or a strong Cad. Until now, there is still room for this pair to drop a little, but all in all, it should be climbing.
As this area is really big, we need to work with a smart Money Management and should not belive it takes only one single entry, to hit the breakout trade. It might happen, that we get stopped out. As long as we get the good long, it doesn't matter. Me personally, I want to see the price fall into the area where the blue target area meets the green turning area (the pinky area). For me, that has the best chances to turn the price around.
Have a look, on how nicely everything interacts:
The big green long Sequence needed to retrace into its correction level.
The price formed a smaller sequence (red) which led to a bigger sequence (blue), which has its target area right where we want to buy it. Coincidence?
Let's see what happens here.
Also, check out the other JPY pairs, as lots of them are looking bullish to me, right now.
Europe vs. CanandaHi guys!
In this pair, I am STILL looking for longs!
"But Moe, you got stopped out twice or more! Why would you still hang on to this?!"
-> Rule number 1: Trust the system! As long as you trade the Breakout, your Stops will be eliminated, and you will end with a win. It's as simple as that.
We are in the target area of the blue, big, sequence. So I expect the price to correct the whole blue sequence! And therefore I am still buying this pair.
Right now, I do wait for the price to correct, and therefore offer a "B-Area". From there, I want to see that price breaks the last high (our possible point A) and then wait for the correction of that move. That is my entry.
But Moe, why are you posting this today, if there is no direct entry? Makes no sense!!"
I am posting this, to show you guys, how a plan works. If you create a plan, you can wait for the trade to come to you, instead of chasing entries around the globe. I can today tell you where I am looking for an entry. Not the exact price, but what I want the price to do and where I will enter the trade. That is a plan. As long as there is nothing going on in this pair, there are more than enough to trade.
Canada vs. JapanIn this pair, I see a possible short entry.
First, we need the price to move back into the correction level. From there we could take a short trade.
The nice thing about this setup:
If we get the Sell entry, and the price falls below the yellow point C, automatically, the next sequence (displayed in red) will be activated and might be giving us new reentries with new targets. Let's assume for a moment, the red sequence finishes as well and then corrects... We would then get another (blue), bigger sequence, with its targets in the correction area of the main bullish sequence.
This is what could happen, but is pure speculation at this moment:
Leets go step by step and see if we get a short entry first ;-)
Australia vs. SwitzerlandThis is a very interesting Chart right now!
Look at the weekly and you will see, we are close to the ATL. This fact makes this market very interesting for buyers, as the Aussi is as cheap as possible!
So, having in mind where we are, we can now look for some structure to trade. That is what I did.
For now, we need a new High, and the correction of this high will be my Entry.
No New high = No entry
New High without correction (hitting target) = No entry (in this case, we have to wait for the whole sequence to correct, to give us a reentry
US vs. CanadaIn this pair, we might get an Entry for a long position.
As you see, the RR is not the best, so there are different options for you, in case you want to get a better RR:
1. wait for price to fall into the DD, but risk to miss the trade
2. work with multiple orders, with smaller SLs, but risk to miss the move.
In this case, with a big area like this, I would work with multiple Entries, and an SL around 20 pips.
Have a great trade!
GBPJPY Short Setup & Hedge for GBPCHF LongNow here comes the beauty of the SK-System!
We do have a sell Setup here, as we want to see price falling down into the green correction level (TakeProfit of first short Position).
If you combine this trade, with my GBPCHF Long idea, you do have a great hedge and therefore minimize your risk!
Lets see how all this plays out, at the end of the trade.
Best Case: Both setups play out and we get a win win!
Hedge Case: one Setup hits SL one hits TP -> We still make profit.
Worst case: both trades hit their SL (very rare)
Have fun and trade safe!
GBPCHF with long setupThe setup is shown in the chart.
We do want the market to turn in the first red box. You can look for an entry now, but on a lower timeframe. Use whatever you use to find your entries ;-)
In case the market breaks our primary entry here, we do get a second chance, as shown in the Chart. You can work with pending orders here, or simply observer price on a lower TF.
Enjoy ;-)
Europe vx. JapanAs we can see, price is moving quite nice.
We want to see the EJ drop into the red area, where we could look to buy, all the way to the top!
One thing I do not like about this trade, however, we need a weak Yen. And as we all know, in times of war, people like to buy the Yen as SaveHaven. This is the one thing that you have to keep in mind with this trade.
So for this one, I will set an alert and if triggered, I will check the strengh of both pairs before entering an trade.
Another way to get a safer trade, would be to look for a hedge ;-)
Europ vs. Canada -> Again!As we see, our last buy did not work out. Good thing, markets are handing out new entries every other day ;-)
So price broke our entry, and corrected a tiny little bit too much. No problem, as the blue buy area got activated, and from there, the next sequence started.
We use the red Target area as TP, as red is still the primary sequence and price could take a turn at the red box. If you want to gamble, place a trailing SL. But only if we come close to the red target area!
Have a great trade!
Swedish Krona - Just above long term support.I've been looking to this chart for a long time now, and we may find a good risk/reward short entry on that currency.
On the right
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SEK is now very close to bounce at least on monthly support.
On the left
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Between EUR/SEK and USD/SEK, I prefer USD/SEK where we can find a good short entry in the following days.
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Short from 8.13610
Stop Above 8/1 Gan fan lines 8.19
Multiple Targets at fibonacci retracements level. (double digits Risk/Reward - You can be more loose on the stop loss).
Improve:
It's maybe not the most optimal pair to short vs dollar so you may find a better strong/weak pair on other exotics. Do you researchs.
