With momentum increasing and continuing in the bullish favour, indicated by price action and confirmed with a MACD cross. It is as simple as catching the wave and riding it in the directional bias in a pullback.
FOLLOW FOR DETAILED TRADE PLANS OF MAJOR FOREX PAIRS
Bias - Long
Type - Ascending Triangle Trendline Retest
Evidence -
1. Clear bullish flag/ascending triangle on higher time frames.
2. Approaching the breakout point as trend boundaries tighten.
Method -
Wait for the next support retest of the bullish trendline structure, as it develops a new higher low....
FOLLOW FOR DETAILED TRADE PLANS OF MAJOR FOREX PAIRS
Bias - Short
Type - Trendline break and retest rejection
Evidence -
(1) Clear LH connecting a bearish trendline
(2) A repeatedly touched daily bullish trendline, where price will likely move to again.
Method -
Wait for a break of the minor bullish trendline (green dotted line), and entering a retest close...
Bias - Short
Evidence -
(1) Break of clear upwards trend in last weeks price movement with a retest and fade.
(2) Series of LL and LH indicating bearish structure, following clear downwards trend line.
Method -
This will be an early in the week trade as price is already at the bearish trendline we wish to play off.
Enter as close to trendline as possible as...
Bias - Long
Type - Trendline Support Retest
Method - Wait for price to return to the green dotted line to find bullish support and put in a new HL for trend continuation. FX:EURAUD
Bias - Short
Type - Trendline Resistance Retest
Method - Wait for clear rejection of dotted red trendline and new LH's to indicate a change of momentum to the downside to align with the current downwards channel. OANDA:GBPUSD
Bias - Short
RR - 3:1
Type - Trendline Resistance Retest
Method - We are looking for price to hit selling resistance at the dotted red line, then break the green dotted line indicating shifting momentum to the downside once again. Entering close to the dotted red line with stop above new LH.
FX:USDJPY
Bias - Long
Type - Trendline support retest
Method - Wait for price to return to the dotted trendline, candles wicking indicating bullish support and entering close to the trendline wi FX:EURCAD th a stop under the last HL just made.
Price will either;
(1) Consolidation - Wait for a consolidation phase to begin after the large impulse move put in on Friday. Entering SHORT at tops of consolidation, setting stop above range.
(2) Pullback - Enter short when price pulls back higher then shifts back down and puts in a LH. Setting stop above LH.
Last week we saw AUSUSD go from a healthy uptrend into a upwards channel consolidation. Playing the channel range with target at top of channel could offer a safe trade.
SHORT OPPORTUNITY IDEA
Due to EUR news yesterday, EURUSD saw major volatility interrupting the forming bearish structure of LH and LL.
As the movement of the news if finally finished, and price is near high's in the bearish structure. A collapse would offer an excellent RR short trade.
I will be looking to short a clear lower high formation between 1.105 and...
Was doing AUSUSD analysis when it started to pick up bullish momentum. Could of done better with the entry to make a better RR, but due to my target it certainty achievable. Currently in the trade and 9 pips up by just analysing trend through LL, HL, LH, HH
