GBPUSD - Scalp Trade setup at a pull back (Noble entry)
Monday, February 10, 2014
GBPNZD Trade Setup & Forecast for the week 10th Feb, 2014
GBPNZD Trade Setup & Forecast for the week 10th Feb, 2014
Daily Chart
Hourly Chart
This is a Cypher pattern which I were monitoring last week , but not posted on my blog because its not a pair I normally trade. However, it had penetrated the 78.6 level on the D, but due to the smaller time frame price action, it had shown me some bullish momentum for me to take a punt on longs towards the minimum B level for a 1:1 and potential upwards to new highs.
Outlook Trade opportunity
Current Long trade is in, however a future Short setup is spotted on the dailyRisk Level - na
Tips -
Always take note of any economical news event on our provided calender belowUSDCAD - Trade Setup & Forecast for the week 10th Feb, 2014
USDCAD - Trade Setup & Forecast for the week 10th Feb, 2014
Daily Chart
Hourly Chart
Outlook Trade opportunity
Our trade on completion of the cypher pattern has been filled On Friday and is still going. We have taken half trade off as we have hit our first tp levelRisk Level - Low
Tips -
Always take note of any economical news event on our provided calender belowGBPJPY Trade Setup & Forecast for the week 10th Feb, 2014
GBPJPY Trade Setup & Forecast for the week 10th Feb, 2014
Weekly Chart
Daily Chart
Hourly Chart
Outlook Trade opportunity
Our Long trade setup from last week was successful with gains up to 400 pips. My bias however we should continue the bearish momentum for one more low before any continuation to the upside.Therefore my Short trade setup would be at the 127.2 ext of last weeks range and which also is around the 61.8 retrace from the leg down (from 23rd Jan)
Risk is high because if you look at the weekly chart, last weeks candle is a strong pin bar
Risk Level HIGH -
Tips -
Always take note of any economical news event on our provided calender belowAUDUSD Trade Setup & Forecast for the week 10th Feb, 2014
AUDUSD Trade Setup & Forecast for the week 10th Feb, 2014
Weekly Chart
Daily Chart
Hourly Chart
The completion of the Cypher pattern which I identified around 2 wks ago, is near to completion. Stochastic on Daily is in overbought territory and as you can see a very high reading
**CORRECTION** - My fibs not drawn correctly therefore cypher is actually completed on Friday,.
Outlook Trade opportunity
Cypher PatternRisk Level - Low
Tips -
Always take note of any economical news event on our provided calender belowEURUSD Trade Setup & Forecast for the week 10th Feb, 2014
EURUSD Trade Setup & Forecast for the week 10th Feb, 2014
Weekly Chart
Daily Chart
Hourly Chart
Last week we identified a possible bullish bat, We have yet to see the completion of this pattern. The sudden bullish movement was a result from the economic news.
If you see on the Daily Chart, The stochastic are going to diverge where we have a lower high, but stochastic have a higher reading, I believe there is still a bearish momentum in this,
A Short setup is shown on the hourly chart where it is the 127.2 fib ext of last weeks range + a 78.6 retrace level
A Long setup is at completion of the bullish bat.
Outlook Trade opportunity
Please see Hourly ChartRisk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
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