EUR/USD long trade based on the Non Farm news candle showing strong upward momentum: -4H strong support zone off a rising support channel. – Price has found strong support off the 61.8 retracement level on the daily chart.. – 5M chart indicating more upward momentum.
GBP/USD long trade based on a close above previous resistance. Entry made by candle pattern. Reasons for trade: – Strong Bullish engulfing candle close on the 4H, which closed aggressively above previous resistance. – Price found support off the 8 & 21EMA’s. – Strong momentum shown on the 1H charts which should carry a high probability trade. – Price action found support off the 50% fib level & old resistance level from daily chart. – Good angle and separation of the EMA’s confirming upward …
GBP/USD short trade based on the 4 hour closing candle: – 4H close below previous support at the 1.6290 zone. – 4H shooting star formation (almost a mini evening star) showing lack of momentum. – 1D has placed a lower high and double top, together with the 8EMA flatting off. – 1H showing a lower high and lower low, which indicates lack of buying momentum & rhythm.
GBP/USD short trade with an early 4 hour entry: – Important long term monthly levels. – 1H price action found resistance off 50% retracement line – Candles showing lack of conviction to the upside. – Monthly 21EMA present
EUR/USD long trade based on the 4 hour closing bullish engulfing candle: – 4H close found support at the 1.3920 zone. – 4H string bullish engulfing candle formation showing strong upward momentum. – 1D ranging and long opportunity comes at support. – 1H showing a higher high.
GBP/USD counter trend trade explained. Trade not taken due to Risk / Reward – Candle formation – Fibonacci 23.6 level
EUR/USD counter trend trade explained. – Evening doji star formation on 4H – Resistance 50% retracement – Price action hit a daily trendline 1.3577
Live Forex Quotes
Forex Trader.org Bookmark and return often for new content!
