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NZDUSD: Resistance Turned Support? (H4)Hi There, It has been a while since I have posted anything to Trading View, apologies! I spotted this setup over the weekend and it seems to be playing out how I would expect. The new highs printed last week at 0.6850 indicate that this pair may move higher, or at lest retest last weeks high price of 0.6860. The red and green boxes show where I would be looking to enter and exit the market. The previous range resistance area at 0.6720-45 is where I am looking to enter long. The risk/reward is a decent 2:1. Good trading, Luke
Long
by Beebags
POSSIBLE 4:1 RISK/REWARD ON AUDCADI had this currency pair on my watch list for this week after analysing the WEEKLY chart, and whilst looking through the DAILY time frame I spotted a potential long trade. I spotted a pattern I have just started to test out, you have 3 bars involved. In this instance we see a good pullback to previous structure, the first bar looks like a potential low test bar, then the bar after it is a high test bar but the interesting thing about it, the second bar fills the rest of the low test bar body. The third bar then has to either be a low test buyer bar, or an engulfing buyer bar. I will make sure at 10pm tonight to check that this bar finishes as an engulfing buyer bar. Couple of details to add, I currently have to trades open on this currency pair only risking 1% each trade. I have my 1:1 target where the first blue line is, my second target is the 2nd blue line beyond the first which price has previously been before, making the trade a potential 4:1. Side Note- These are all my opinions, please do not take my advice as the be all and end all, I am an amateur FOREX trader trying to learn about the markets.
Long
by JKibbler
AUDUSD: Potential Long At Structure? Hi Traders, We can see that from the initial low put in early last month AUDUSD has been in a bullish rotation. The structure zone of 0.7160-80 has been respected on a number of tests recently. Therefore I think it provides a good trading opportunity with a decent R:R. For anyone trading Aussie this week keep in mind we have RBA rate decision tomorrow (Tuesday) and Trade Balance on Wednesday during the Asian session, also let's not forget about NFP on Friday. See chart for long setup. Alternatively, if you have a bearish bias on AUD and prefer to look for selling opportunities. A breakout below 0.7150 with stops above 0.7180 looking for targets of 0.7080 and 0.70250 is a good way to express that bias.
Long
by Beebags
6
Divergence, again, on USD/CADAlthough in a healthy uptrend, USDCAD has run into resistance at ~1.3070 which happens to be a price level on the weekly chart that has previously been tested (as support in April 2004 and resistance in March 2009). Price closed below this level on Friday as a high test bar. Coupled with bearish divergence on the Stochastic and RSI indicator a price action behaviour is suggestive of bearish sentiment. Judging by the optimistic Fed outlook to raise interest rates, and positive expectation from the US economy from improving economic data, a stronger US Dollar is likely to continue. The following short setup banks on a technical perspective to take advantage of a sell signal; potentially a temporary run. entry - below low of high test bar stop loss - above high of high test bar target - previous level at ~1.2771
Short
by amanpaulbhogal
One year of divergence between stock markets and bond marketsThis is a similar chart to that published by Technician (see related idea below) that shows a clear divergence between stock markets and bond markets. I realize after making this chart that I had identified several bearish signals in bond markets at the start of the year, and I thought that we would thereby see a stock market correction in 2014. Stocks are the only asset class that has been subject to a sort of risk-off trade this year, and one might suggest that certain factors like corporate buybacks explain the divergence we've seen between the SPX and the HYG/TLT ratio.
AMEX:HYG
by ABRAK75