This is a swing trade setup. Cable is moving closer to retest previous broken trend line, and a bullish harmonic pattern is forming. It depends on one’s risk tolerance, I prefer to build entry near trend line. Still watching for now. I expect some reactions at the trend line retest. Here is the … CHART!
A bearish harmonic setup is observed while NZDUSD is retesting the broken trend line. Bias remains short for now.
Here is another potential swing trade setup I have been looking at. $AUDNZD is testing the established down trend line, and with completion of bearish ABCD formation. I expect price to face resistance at this level. I’ll be watching price action closely next week to confirm my thought. Here is the….CHART!
EURGBP pulls back to the previously broken down trend line, and also complete a bullish harmonic formation. This presents a potential long opportunity with first target around 0.8880. Here is the…..CHART!
I maintain my short bias of $NZDUSD for now after the established uptrend line was broken earlier this month. The broken trend line was retested and acted as resistance. I have been making some daytrades for the past couple of days. However, for the bigger picture, I am now looking at a potential swing trade, […]
Trade completed. Click on tabs for setup and update. [tab: Setup] Here is the potential swing setup I mentioned in my tweet. $EURGBP is moving symmetrically into resistance level. I am watching closely. Pretty straightforward setup, I don’t think I need to write too much here. Here is the… CHART! [tab: Update 28 June 2011] […]