This setup on GBP/AUD looks very good for selling
lāve been monitoring this too. Its a bearish engulfing and belt bar and there is some divergence there too.l am still waiting for a retrace though as these extra large bars often retrace around 50% before continuing.
Good luck.
GBPAUD still has a lot of room to the upside and this recent selling could very well be just a pullback before the trend kicks back in. Iād be cautious about selling this pair.
Absolutely agreeā¦if l sold l would be thinking in terms of a complex pullback rather than a reversal of trendā¦but open to all possibilities as always of course!
Hey guys, Iāve placed a short entry on the NZDUSD market.
This market looks like it has topped out here and is now trading under the support level on the daily chart. There was also a bearish Rejection candle that sliced through this support line. Also notice how all the recent Daily moves higher have been rejected by the market leaving all the upper tails. I think this market looks weak and if it pushes lower there could be a decent move down. Anyone else watching this ?
Just looking over the posts about GBPAUD that you guys have been talking about. Price is sitting right on a daily swing point right now, the trend is still obviously bullish here until proven otherwise, the EMAs are still clearly pointing up and holding as trend mean value. There is no signal to go long off, but then youāve got the massive bearish candles which do show very heavy selling pressure so price could quite easily bust through the swing point. I probably would short until a sell signal develops under that swing point.
Traders who just blinding sell any price breaks under the swing line could get trapped into a false breakout, taking a sell signal under the line would be a safer approach.
Thatās just my 2 cents 
Iāve this on my book for selling too when it takes that 81600 level 
Long aud/jpy @ 80.00. - your thoughts?
Iām long AUD/CAD. Think itās a nice setup, bullish divergence on daily and support zone gotta take advantage 
I donāt even have a pin on my chart, are you not using NY close broker?
I have PB on my chart and iām using FXCM Trading Station
Scanning the markets today and there isnāt much to talk about no signals 
The NZDUSD is still looking very weak which is good, the last session did close lower with another upper tail showing higher prices are not favored by the market. Just really looking to take out these lows to see this pair start moving!
Yeah not a bad setup, I didnāt notice this one well spotted. Just sitting on support at the moment and that market has been a little choppy , but if price does breakdown there could be nice move
Caution : The signal candle is a bit stretched away from the mean value, notice the gap? if you take the break of the low looks how far away it is from the mean, I would prefer to take trades closer to the mean no gaped away. This could workout but you would want to see an aggressive sell off.
Vasude, I think the GBPUSD set up you refered to is more a show of indecision than a sell entry. In fact, I would wager my two cents that perhaps price is more likely to rally a bit before the sellers come back on board. Maybe then weāll see a signal as strong as the pin bar or inside pin bar that this pair has offered in the recent pastā¦
A few interesting setups on across the board todayā¦
EURAUD :
Bullish rejection candle respecting swing level support and trend meanā¦
Outside Bar on EURUSD off a strong daily support levelā¦
Bearish Rejection Candle on AUDCAD from Swing Resistance and trend mean valueā¦
interesting set ups these ones. Especially the bearish AUDCAD rejection. Iāll try get that one on the 50%. Hereās another one on the Dow for folks to think about
DOW Daily
On second thoughts DnB, if you zoom out that AUDCAD set up, looks like weāre in the process of lifting off from previous supportā¦thoughts?