EURUSD is moving downwards

EURUSD in the H4 timeframe. Price is in downtrend evidenced by lower highs and lower lows. Price is now moving upward after creating a swing low.

Price is hesitating at a fib level for last 1 day. Price also stays below 50 & 200 SMA. Now if price changes direction, the price will create another lower high on its way to create lower low. So if this happens, it will create a nice sell signal.

I'm carefully observing it. Happy Trading.

Buy signal at AUDCAD pair

AUDCAD in the H4 timeframe. Price is in nice uptrend recently. In it's up trend it has crossed both the 50 & 200 SMA.

Trend bulding swing lows were showing nice candlestick patterns as marked in the images. In the current candle a bullish engulfing candle has been created just above the 50 SMA and created a higher swing low.

It's a nice entry point for a long position. Let's see what happens next.

USDJPY has presented me some good pips

USDJPY pair in H4 time-frame. Price was in an uptrend this week.

I was monitoring the pair. When I saw the last corrective move down towards the 30 sma, I drew a fib level from lowest swing to the highest point of the swing.

At 50% fib level price action has shown two candlestick, one hammer and another is spinning top. 30 SMA was just below the two candle I mentioned in an upward direction. The buy triggered just after the completion of confirmation candle. It gave me a nice & successful 1:2 risk to reward ratio trade.

Happy trading.

GBPUSD pair is in nice sell set up

GBPUSD pair in H4 time-frame. This week price was in downtrend. Price is approaching a bearish trend line. At the same time the 30 sma is around the same region.

Price is also around important fib levels starting from 38.2%. This means, price is at around a confluences of indicators and price action.

Waiting for an entry signal by price action at around this level. See you soon.

Missed a lot of pips at EURCAD

EURCAD in the D1 time-frame. Price was nicely bounced back from the 30 SMA in a small uptrend.

Price action created a tweezer bottom at 38.2% fib level. At the same time it also created a bullish engulfing candlestick pattern where I put a buy stop order at 50% retracement level of long bullish candle. I missed the trade for only 4 pips.

Price has almost reached my target.

Happy Trading.