EURAUD Trade ideaPossible EURAUD Trade scenario on 4 hr timeframe
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Make it breakeven at 1:3 RR
Indicator based SMC approach
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NZDCAD - How I would trade NZDCADSo this is a two step trade setup.
First I need PA to drop and close below the 23.6 level
Then I need a pullback roughly 50% of the bearish candle.
If that materializes, I would then go short. Otherwise... no thanks. On to the next
That's it - That's all
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EURUSD - RSI Divergence with Bullish BreakoutDaily timeframe, PA broke above 2 levels of resistance last week and now looks to stall out with RSI providing information on lack of bullish momentum.
For now, I'm waiting to see my small green line on the chart get tested where I have an alert. Will PA break back below support which was previous resistance and will we test the 50% pullback area (small green line) to then add to the bullish continuation?
Time will tell, for now I just need PA to test the small green line for my next assessment on what to do or how to trade this.
That's it - That's all
Trade Safe
BTCUSD Likely to Trend Higher in 2024All green lines on the chart are equal in length. I'm using the last green line as a projection tool which estimates BTCUSD above 50k around the first week in January.
Should BTC pullback to 42k, that in my view would be an excellent area to enter with stops around 39k.
== Simply in Summary ==
Long at 42k with TP at 50k and SL at 39k would be a simple 3:1 R2R setup.
That's it - That's all
Merry Christmas and Happy New Year!
EURGBP - Long AoL (Areas of Interest)Considering the fact that this pair is trading above the 200 SMA on both the daily and 4 hour timeframes, I'm looking for buy entry areas in this ascending channel formation.
On the chart I pointed out several areas which basically are along the ascending trendlines. If at any point I receive an alert of price action tagging one of these trendlines, I'll look for a potential long entry.
Now of course I can't expect to always be right and hopefully this isn't one of those setups where I'm wrong, so for that reason if PA decides to break and hold below the lowest ascending TL, I'll exit and book my loss.
That's it - That's all
Merry Christmas!
EURCAD - Revised Trade PlanEURCAD continues to trade within a wedge formation.
I'm waiting for either wedge support or resistance to break. I have my alerts set for when this will happen. Upon receiving one of the alerts, I'll then look for an entry point.
I'm not one to jump in on trade the moment we get a breakout. I've learnt my lessons the hard way many times in the past with that approach. So rather than entering on the breakout, I'll get my alert notification and then will look for a pullback roughly around a 50% retracement of the bullish and bearish impulse. I tried to illustrate this idea on the chart.
Now obviously I'm not expecting price-action to move exactly as illustrated but what I chalked up is a rough idea of what I'm expecting to happen.
Hope this all makes sense and is easy to understand.
That's it - That's all
Trade Safe
EURAUD - Trade PlanFAIL TO PLAN - PLAN TO FAIL
So this trade plan is fairly simple.
Rules to Follow
1. First and foremost, we need a break and hold above the descending trendline
2. Second, if or once we get the bullish breakout, we need price-action to pull back approx 50% of the bullish breakout impulse. This setup doesn't need a full pullback to support, which is currently triangle descending resistance.
3. Enter a small enough lot size to allow an additional equal or slightly larger lot to be executed again on the long side if price-action happens to go against the trade by 100 pips.
On the chart, I left a comment in yellow showing where I plan to add a second long entry.
If all out fails and price action breaks above the descending trendline and then decides to close back below this trendline that I'm referring to, I'll exit the trade and book a loss.
That's it - That's all
Trade Safe!
EURCAD - Waiting for Wedge BreakoutTaking a look at the 4h chart, price-action remains confined in a wedge formation. RSI is suggesting we might get a bullish breakout as this is now the third signal of a break above 50 in this current wedge.
The 50% Fib Retracement level is also something important to note as the most recent large impulse was an impulse to the upside. See chart below.
I do believe that we might push higher but of course, something significant needs to happen first for price-action to break out of this wedge.
GBPAUD - Good Chance We'll See Support HereTaking a look at the daily timeframe, price-action is currently supported by the Natural Consistency Flow. At the same time we also have divergence with RSI hinting at a potential short-term bottom.
Personally I need to see price-action now make a daily higher high (closing above the last candle). Once we get that third confirmation, I would be inclined to going long with this pair.
That's it - That's all
Trade Safe!
EURCHF - At All Time Lows!EURCHF is back down to all time lows. I'm not just waiting for a bullish breakout to the upside to go long with this pair.
USDCAD - Bullish Divergence Heading into PCETaking a look at the 1 hour timeframe, we have some clear bullish divergence with RSI and price-action. Whenever we get a setup like this, price-action does tend to bottom out and is likely to push higher.
The question now is "Will PCE come in better than expected?" As of right now, the economic calendar forecasts for weaker than previous figures. This may leave room for a surprise to the upside and thus in fact bottom out USDCAD at least on the 1 hour timeframe.
USDCHF price action remains negative.USDCHF - Intraday
Yesterday's Marabuzo is located at 0.8594.
There is no clear indication that the downward move is coming to an end.
The lack of interest is a concern for bulls.
We are trading at oversold extremes.
We look for a temporary move higher.
We look to Sell at 0.8594 (stop at 0.8620)
Our profit targets will be 0.8529 and 0.8514
Resistance: 0.8580 / 0.8610 / 0.8630
Support: 0.8557 / 0.8540 / 0.8520
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
GBPJPY remains mixed and volatile.GBPJPY - 24h expiry
A Doji style candle has been posted from the base.
Price action looks to be forming a bottom.
We are trading at overbought extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Further upside is expected although we prefer to buy into dips close to the 180.65 level.
We look to Buy at 180.65 (stop at 179.85)
Our profit targets will be 182.65 and 183.05
Resistance: 182.10 / 183.35 / 184.60
Support: 178.00 / 175.15 / 173.60
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
XAUUSD - Waiting for 4hr Wedge to BreakTaking a look at the 4 hour chart above, we can see price action is trading within a wedge. I'm now just waiting for a breakout whether it's above or below. My intuition tells me, a breakdown to the downside is more likely with the bearish divergence clue were getting with RSI.
Should we get a bearish breakout, I'll wait for a retest of the wedge support which will turn resistance to then target the 200 SMA which might line up with the 61.8% Fib pullback level.
S&P500 Sells Off Hard Heading Into the CloseNot sure the culprit for this sell off but needless to say, whatever it was might spark further selling pressure in the sessions ahead.
Look out for some minor topping action. Might be able to find some decent short sells around these all time highs.
Trade Safe!
NZDUSD - Potential Short Setup4hr chart is very similar to the USDCAD setup that I just posted. Basically waiting for this 4hr candle to close out, then will look for a pullback to the upside with pending sell limit orders in place to enter on the sell side and target the level I mentioned on the chart.
That's it - That's all
Trade Safe!
USDCAD - Potential Long 4HrTaking a look at the 4hr chart, we have several technical indications that we may begin to see some short-term bottoming action.
1. RSI showing strong bullish divergence.
2. Strong Bullish Engulfing Candle.
With that said, I think if we get a dip within the next several candles, that may present itself with a decent low risk long entry to the upside.
That's it - That's all
Trade Safe
Brent to continue in the upward move?Brent - 24 expiry
The rally was sold and the dip bought resulting in mild net gains yesterday.
Intraday, and we are between bespoke support and resistance 73.72-81.78.
Immediate signals are hard to interpret.
Previous resistance, now becomes support at 77.40.
There is no clear indication that the upward move is coming to an end.
We look to Buy at 77.40 (stop at 76.40)
Our profit targets will be 79.90 and 81.78
Resistance: 79.90 / 81.78 / 84.57
Support: 77.40 / 76.61 / 73.72
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
NZDUSD to find buyers at previous resistance?NZDUSD - 24h expiry
Indecisive price action has resulted in sideways congestion on the intraday chart.
Momentum is flat, highlighting the lack of clear direction.
Risk/Reward would be poor to call a buy from current levels.
A move through 0.6225 will confirm the bullish momentum.
The measured move target is 0.6280.
We look to Buy at 0.6200 (stop at 0.6176)
Our profit targets will be 0.6260 and 0.6270
Resistance: 0.6250 / 0.6275 / 0.6280
Support: 0.6200 / 0.6175 / 0.6150
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
DAX to breakdown at overbought extremes?GER40 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Current prices have reacted from a low of 16662, however, we expect further losses to follow.
Price action resulted in a new all-time high at 17004.
An Evening Doji Star formation has been posted at the high.
A break of the recent low at 16662 should result in a further move lower.
Daily signals for sentiment are at overbought extremes.
We look to Sell a break of 16658 (stop at 16758)
Our profit targets will be 16418 and 16348
Resistance: 16793 / 16850 / 16950
Support: 16720 / 16662 / 16600
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
SPX500 to retest all time high?US500 - Intraday
Price action continues to trade around the all-time highs.
There is no indication that the rally is coming to an end.
A break of the recent high at 4744 should result in a further move higher.
Short-term momentum is bullish.
We look for gains to be extended today.
We look to Buy a break of 4746 (stop at 4720)
Our profit targets will be 4806 and 4826
Resistance: 4744 / 4770 / 4820
Support: 4720 / 4693 / 4650
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
GBPJPY to turnaround?GBPJPY - Intraday
Posted a Bullish Hammer Bottom on the Daily chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Preferred trade is to buy on dips.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Further upside is expected although we prefer to buy into dips close to the 180.22 level.
We look to Buy at 180.22 (stop at 179.42)
Our profit targets will be 182.22 and 182.62
Resistance: 182.10 / 183.35 / 184.60
Support: 180.30 / 178.00 / 175.15
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURGBP price action remains mixed.EURGBP - 24h expiry
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for sentiment and the downtrend has potential to return.
Bespoke resistance is located at 0.8630.
Preferred trade is to sell into rallies.
We look to Sell at 0.8630 (stop at 0.8658)
Our profit targets will be 0.8560 and 0.8550
Resistance: 0.8630 / 0.8660 / 0.8700
Support: 0.8595 / 0.8550 / 0.8490Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
