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Showing posts from August, 2020

EUR/CAD is Forming a Falling Wedge Pattern

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Deya Hroob This trade set up is based on daily chart. EUR/CAD is trading inside a falling wedge. It's a continuation pattern. The price now at the upper sloping line where you can also find the 20-day EMA. I will trade the breakout of the upper line with target  1.5700, thereafter 1.5790. It's a Fibonacci level. If the price breaks downwards, the trade set up will be invalid. Trade Wise and Good Luck,

AUD/JPY Ascending Triangle Pattern in Daily Chart

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By Deya Hroob This trade set up is based on daily chart. AUD/JPY has formed an ascending triangle. This is a continuation pattern. However, you shouldn't take this as a guarantee, you have to follow the market. I have two buying areas. Firstly, on the uptrend line OR on the breakout of the resistance line. My targets are 77.40 , 78.00 In the flip side, any breakout of the trend line may take the pair to the 50-day EMA . Trade Wise and Good Luck, 

AUD/CAD Head and Shoulders Pattern

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By Deya Hroob The pair has formed a well-known head and shoulders pattern. The price broke the neckline. I am waiting to trade the retest of the broken neckline. My stop loss will be above the neckline. Trade Wise and Good Luck,

XAU/USD: Bearish Flag in 1H Chart

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 By Deya Hroob This trade set up is based on 1h chart. After falling from the high at $2075, Gold has formed a bearish flag. It's also trading below the moving averages. I'll wait a breakout below the flag to go short with targets $2010, $2000 and $1985. If the price goes above the moving averages the trade set up will be invalid. Trade Wise and Good Luck,

NZD/JPY Bearish Break Out

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 By Deya Hroob This trade set up is based on 4h chart. NZD/JPY was trading into an ascending channel. On the last trading session last week, a bearish breakout happened. That means, the pair is more likely to go lower. Traders may wait a retest to the lower boundary of the channel OR a retest to the moving averages to go short. Our targets will be  69.55 ,then  68.40 If the price breaks above the moving averages, my next short position will be at the resistance line. Trade Wise and Good Luck,   

EUR/AUD is Trading at Resistance Level

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By Deya Hroob This trade set up is based on daily chart. EUR/AUD is currently trading at strong resistance level. What makes this level more important is that  200-day EMA goes in line with it. (200-day EMA is at 1.6540 now). Hence, any breakout of this resistance, will be a buy signal. I don't recommend buying now just wait a breakout. Trade Wise and Good Luck,

XAU/USD Ascending Triangle in 1H Chart

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By Deya Hroob Gold is in strong bullish mood. It has formed an ascending triangle in 1h chart. $1980 is the resistance line of the triangle. To buy gold, you should wait a breakout above the resistance line OR buy at the trendline with stop loss below the line. If price breaks below the trend line, $1945 and $1900 will be the support. Trade Wise and Good Luck,