USDJPY is going towards the daily pivot

USDJPY pair in the H1 timeframe. Price is in a clear down trend.

Price moved down from the pivot point and crossed the S3 zone. After crossing the S3, price created a bullish exhaustion candle.

At the close of this candle, I entered for a long position. After staying at the level for 3 hours, the price started to move in my direction and rewarded me with some handful of pips. As I was not able to follow the trade, I've closed it with a TP at 35 pips. It had a full swing of >60 pips.

I've followed Pro Trading Strategy by Navin.

Happy Trading!!!

Few Pips from NZDUSD pair

NZDUSD pair in H1 timeframe. I'm now using the Pro Trading Strategy by Navin Prithyani.

Here Daily pivot points are used in H1 timeframe. Any exhaustion candle at pivot point gives hints about having a probable entry point into the market.

Then the immediately above and below the exhaustion level, pivot points are analyzed to see whether any barrier nearer along the trade direction. If all is ok then we entered on the closure of the exhaustion candle and TP & SL target will be the pivot points as Navin explained in his tutorial. This is available on internet free.

I've done that for this pair today. Got my pips.

Can USDCAD resume it's uptrend?

USDCAD pair in 1 Hour timeframe. Price has created a bullish divergence with RSI (14). The price is bouncing back from a support area between 1.25708 & 1.25572.

If we switch the time frame to weekly and monthly, this area shows strong support. At the same time price just bounced back from outside of Bollinger band in the hourly timeframe.

Longer timeframe shows a bullish trend for this pair.  So everything is favoring a long position. Hopefully we can get into the trade soon.

GBPJPY pair is creating ascending triangle in weekly

GBPJPY pair H4 timeframe. This pair is also creating a divergence with RSI. As usual at a strong support zone created by 140.301 & 139.789.

This zone is also a strong zone which is likely to hold the price. If you switch to daily timeframe, the price is on the way to create a double-bottom formation which is also a sign of reversal.

If we switch to weekly time frame then the price is creating an ascending-flat-top triangle after a downtrend. And to be specific, the price is now on the lower ascending trend line which again indicates a possible reversal. I'm going for long at 140.95 with stop loss few pips below the support zone.

AUDNZD pair is creating bearish divergence

AUDNZD pair in daily time frame. This pair is creating bearish divergence with RSI. Interesting things to note that the pair is now residing at a resistance area between 1.08672 and 1.08386.

This is a strong area which is likely to hold the price below. Another favorable point is that the price is in the top band of the downward channel created in the weekly timeframe which again adds the odds in favor of shorting opportunity.

So let's see how the week starts.

GBP pairs are creating divergence

GBPUSD pair in H4 time frame. Here I'm looking for trading at Support and Resistance with the combination of price divergence with RSI.

Here I've picked a possible divergence. At the current market level, I've drawn two horizontal support line which will be my demand area from where I'll trigger my buy for this trade. The levels are 1.28648 and 1.28315. Now I'll wait for buy signal by an exhaustion candle at this level or price candle closing above 20 MA along with RSI crossing above 50. Let's see what is waiting for me.

GBPAUD pair in Daily time frame. This one hasn't yet completed creating the divergence. I think I'll have to wait a couple of days more to have a confirmed divergence.

After I get the confirmation, I'll look for trade entry. Thanks all.