Good morning everyone. This is a breakout trade that I took on Thursday and held through Friday before closing out for a profit of +164 pips. I'm looking to re-enter with a target of 140.37. I've included a breakdown of how I look for these highly profitable trade setups.
Based on structure, AUDUSD is showing a possible short sell opportunity. It is respecting a downward channel and has retraced to the .618 fib of the current wave leg.
Here is my target for tonite/tomorrow on this pair. Please see my linked AUDCAD short idea for a picture on a larger time frame.
One pair I am looking at for this coming trading week is the AUDCAD. It has broken to the downside, retested, and I am looking for a target of 0.9964.
EUR CAD has reached the top of a downward channel inside of a much larger upward channel. It has formed a bullish pennant pattern and is now retesting the break out. If it moves above my channel line I will look for a buy to 1.5130. If it forms a sell signal at the top of the channel I will look for a sell. Watching this one carefully
EURUSD seems to be forming what looks like a cup and handle bullish pattern to reach the top of the trend line.
EJ is forming a rising wedge sell signal close to the top of the channel. I'm looking to sell once price action confirms an entry.
EURNZD has currently formed a bear flag, broken out, and retested. I am looking for sell to my -1.270 fib target.
GBPNZD has broken out of a large channel and is currently forming a bear flag. If there is a breakout I am looking to sell.
EURCAD is currently trending in a down channel. If the current consolidation breaks out I will look for a buy but until then I am looking for a sell further down.
We have divergence on the 4hr MACD along with a possible bearish double top on our channel. I have setup my fibs for possible targets on the way down to add to my position. The only thing to watch out for is that the dollar index is in a bearish channel. Happy trading!
Hey guys, AUDNZD has broken out of my channel and is respecting my fib lines. I am looking for it to move to a target of 1.06583 for now. Happy trading!
Hello all. I trade my USD crosses based off of the US Dollar Index each day. Here is my current outlook. We are in a bearish channel to the downside and I'm looking for a drop to my support zone around 99.84. This means that the USD may drop in the crosses. Trade accordingly.
If EG breaks above my 0.50 fib at 0.8765, I am looking at a buy to my .786 fib at 0.90295.
I have followed this pair down for a while now. After reacting off of the top trend line and the 200 MA, it has broken my bottom trend line and looks like it may continue falling to the bottom of my large trend line. My target is a previous S/R target at 0.7045. Let's make some pips!
Trade is invalidated unless it opens and closes a candle below my line that I have drawn.
EC has broken a bear flag trend line and I am looking for it to move to at least my -1.270 fib target.
EG has failed to break above an area of resistance. Coupled with reacting off the .618 fib, IF EG breaks my trend line I will be initiating a sell pending appropriate price action. Let's make some pips!