EURCAD Trade setup for 10th March, 2014

EURCAD Trade setup for 10th March, 2014

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I took a short in the Asian session while coming across this Chart. I took a short on the H1 chart with a bearish engulfing from the 61.8 retrace with overlapping Pivot levels (explained below)

Cheers

Daily Chart

Hourly Chart

• Stochs diverging on the h4 as we hit the 61.8 and rejected
• Confluence of weekly and monthly R1 Pivot
• 127.20 ext of February trading range

Shorting the EURCAD

USDJPY Scalp Trade Setup for Monday 10th March, 2014

USDJPY Scalp Trade Setup for Monday 10th March, 2014

30min Chart

Outlook Trade opportunity

Identified a good confluence zone

• - Monthly Pivot
• Weekly Pivot
• Daily Pivot
• 38.20 Fib Retrace
• 161.80 fib ext of initial retrace from Friday

I don't think it can get better than that for a scalp opportunity.

* Scalp requires experience, - don't be greedy is all i can say

Please visit my post on the best confirmation entry strategy for scalping

Tips -

Always take note of any economical news event on our provided calender below

JPN225 Nikkei Forecast for the week 10th, March 2014

JPN225 Nikkei Forecast for the week 10th, March 2014

Daily Chart

Last week we saw price accelerate and stayed above the 15000, 

• if you put on the MA's, price is trading above, however all three have not crossed.
• Load the Ichimoku Clouds, and you will see price rejected the clouds which also is the 61.8. so this is a very big resistance

My thoughts I would be looking for opportunity to Short this more than long.

Tips -

Always take note of any economical news event on our provided calender below

USDJPY Forecast and trade setup for the week 10th March, 2014

USDJPY Forecast and trade setup for the week 10th March, 2014

Bearish Cypher and Bat Overlapping at the same PRZ 

Weekly Chart

Daily Chart

• Stochastics is crossing at overbought area
• Lots of resistance - Trendline, Clouds
• On writing this blog, i could see a potential Bearish Cypher, however the PRZ is around 104. So if its gets there, i would most likely short it on PA confirmation

Hourly Chart

• You see i have a Bat pattern drawn, which actually will be the same PRZ zone on the Cypher I mentioned on the Daily summary
• The most recent Price action suggest we have topped , however support is also near

Outlook Trade opportunity

Hourly Chart and Daily Chart identified two Patterns (Cypher and Bat) at the same PRZ

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

DXY US Dollar Index for the week 10th March, 2014

DXY US Dollar Index for the week 10th March, 2014

Daily Chart

• From the weekly to the Daily Chart, the US Dollar looks very heavy
• Fridays Candle indicates a some indecision.
• My bias is that we may best the December's Low 

AUDUSD Forecast and Trade Setup for the week 10th March, 2014

AUDUSD Forecast and Trade Setup for the week 10th March, 2014

Weekly Chart

• The Ichimoku line is flat suggesting price is likely to attract there (ie. bullish)
• however the stoch's indicator has crossed crossed

Daily Chart

 

• We finally have broken out of the Daily Ichimoku Clouds and managed to close two days above it.
• Stochastics is also crossing suggesting overbought scenario
• You will see that i have a potential Cypher pattern at around the 0.93 handle

Hourly Chart

Friday i identified potential Bullish cypher on the 15min chart 

• Today I would be looking for reaction on the 38.2% and 50% fib level for price action to react from those areas looking for continuation to the upside
• at the 38.20% fib, there is the daily s1 pivot confluence
• If we travel more south, the 50% is at few pips below Daily S2 pivot and few pips below the 23.6% fib of the Low to last weeks high.
• We also have the weekly pivot approx 10-15pips below the 38.20 fib level (not shown on chart)

Outlook Trade opportunity

- Hourly Chart
- Possible cypher identified last friday

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below