AUDNZD Trend Reversal - Long

Monthly

Weekly

Daily

Hi Traders

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AUD/NZD is setting up nicely for Trend Reversal to go long, its completing following check list for Trend Reversal.

1. Strong Level of Horizontal Support (1.2050)
2. RSI Divergence
3. Fib Extension Level (1.618 - 2.000)
4. Bullish Price Action (Low Test Bar)

Strong level of 1.2050 is on all charts (Monthly, Weekly & Daily) so its a very strong level of support which makes trend reversal quite likely.

PS: Unfortunately the trade size is 104 pips, so the prop traders on half a percent risk won't be able to take this trade.
 

EUR/USD (Weekly) - Head & Shoulder Pattern

Euro weekly chart is making Head & Shoulder pattern which is a strong reversal pattern. We are having some negative news from Germany in these days which could be an addition to downward move.

EURCAD - Continuation Long

 Hi Traders

EURCAD is setting up to go long nicely, retraced upto 0.5 Fib level. It seems a high probable trade which scoring following 7 points.

1. Higher High & Higher Low
2. Above 50 & 200 EMAs
3. Horizontal Support              (1.34 Level)
4. RSI Convergence
5. Bullish Price Action             (High Test)
6. No Resistance in the Way
7. FiB Retracement Level        (Support at 0.5 Retracement Level)

There is no hard level in the way apart from a soft level of 1.3523 (previous high), which looking at it conservatively still makes makes it a 1.7:1. Assuming a profit potential till 1.3610  makes it nearly a 3:1. 

CAD/CHF & AUD/NZD

CAD/CHF (Trend Continuation - Short)

 



1. Lower Highs Lower Lows
2. Below 50 & 200 EMA
3. Horizontal Resistance (0.9100)
4. RSI Convergence
5. Price Action (Doji Bar)
6. Fib Retracement Resistance (0.50%)

The only concern is the hard level of 0.9032 is in the way

AUD/NZD (Trend Reversal - Long)

 



The pair is on its strong monthly, weekly & daily support level of 1.2172. RSI is giving strong divergence signal while made an inside bar. The only missing thing is Fib Extention level which I am really wondering about as couple of week ago EUR/AUD same scenario happend when it wasn't giving any Fib Extention level but it was profitable trade. Even in USD/CAD & EUR/CAD in Trend Reversal trades (last few weeks) there was no Fib Extention level but the trade turned out profitable.

So the recent oppertunities of Range Based Reversal & Trend Reversal missed out due to no Fib Extention level but they all turned out profitable.

AUD/USD Continuation - Long

AUD/USD Continuation - Long

Hi Traders

The game is still ON, the current bar is going to be an inside bar bouncinf off a soft level of 1.0385. The only concern is its retracement which is deeper than the retracement of previous cycles which could be a start of downtrend but so far its checking all the boxes for an uptrend continuation trade.