gunhy

gunhy

CADCHF is on an overall downtrend on the daily timeframe, currently trading in a range formation. RSI is strongly overbought and currently has a divergence with the previous bounce off the top of the range. Looking to short the top of this range with stop loss over 0.635, a strong resistance zone.

gunhy

Price broke above a rising wedge pattern, indicating massive buying pressure. Now it is retesting the wedge in the form of a bull flag. If price breaks above, it can be an opportunity for a quick buck. This is also in line correlatively with my bullish AUDUSD analysis. This worm might only be caught by the early birds when the market opens on Monday.

gunhy

AUDUSD broke out of its bearish channel, forming three patterns: -Inverted head and shoulders -Double bottom -Cup and handle Now that price broke above and is retesting the necklines, I think this will be a high probability trade for a fantastic 1:6 risk-reward. Stop can be widened further to avoid stop hunts for a 1:3. I will review this setup at market open.

gunhy

AUDCHF is on an uptrend. Formed a bull flag and broke out with an engulfing candle. Going for a 1:2, seems reasonable if price action follows the previous similar bull flag breakout that happened earlier on the 18th. Would be smart to lock in profits at 1:1

gunhy

Previous idea on EURCAD went perfectly. Now we see a new set up in the form of a bear flag / triangle pattern breakout. Breakout was confirmed by an M30 engulfing candle. Keeping SL tight.

gunhy

Price broke below a support zone, retested it and is now continuing the downward trend. On lower timeframes there is another local support that broke and retested as well. Looking to hop on this move down. Tight SL

gunhy

RSI divergence, reversal on the trendline confirmed by price action. On lower timeframe we can see MA50 acting as support as well as a bullish engulfing candle. 1:1 low risk trade if entering now. May have more entry opportunities for better risk-reward if price later pulls back to the trendline.

gunhy

A textbook setup. Following a move down a bear flag formed and now is breaking to the downside. Looking to catch the continuation move.

gunhy

Within 1 hour of London open, all Asian session gains were erased. Most traders would have entered @ 2618 with SL below the support zone and get stop hunted. Now we see a RSI divergence as well as an engulfing candle which might indicate a reversal to the upside following the stop hunt. Good risk reward of 1:3

gunhy

Trendline retest, higher highs and lows, RSI divergence. Good risk-reward trade

gunhy

Price is currently on a retest of the pennant structure. A bullish pinbar printed. Low risk setup with a wide stop loss. Aggressive risk takers may want to tighten stop loss for higher risk-reward.

gunhy

Simple trend following day trade. RSI shows a divergence. SL below the previous low, targeting the near term high.

gunhy

Price returned to the local support zone and bounced strongly, signaling strong bullish presence. Reversal pattern printed on M5, and on M15 is about to be printed. RSI shows a divergence.

gunhy

Lo and behold, gold finally broke 2480. Logical thing to do right now is to buy here or buy the retest. But the big players know that and will try to stop retail traders out of their longs. When sentiment turns bearish, and shorts accumulate is when price will resume its journey upwards. The break above 2480 happened when the triple top printed and signaled for...

gunhy

Price broke below an important support level, retested with a head & shoulders pattern and now broke below the neckline. Paired with yesterday's bullish news for USD, we should see gold fall in the short term.

gunhy

Price formed a bull flag and broke above. Local price action shows a bullish pinbar reversal at the grey zone. We should see new ATHs.

gunhy

USDJPY has been on a strong downward trend for a month now, with very few pullbacks. Now price has finally made a pullback to the H4 EMA50 in the form of a pennant pattern. The top of the pennant @148.00 is proven to be an extremely strong resistance as price has rejected it 4-6 times. Now price is making its move down to continue the downtrend. A lower low has been made.

gunhy Updated 

Price is on its 4th uptrend line rebound. RSI shows a divergence. After 6 hours of consolidation, a bullish candle printed, engulfing all the consolidation candles.