CAD CHF TREND LINE BREAK AS EXPECTED BUT WHAT NEXT - forex trading system resources

CAD CHF TREND LINE BREAK AS EXPECTED BUT WHAT NEXT ~ forex trading system resources

Having broken the Outer Uptrend Line as expected, the CAD CHF is now at a bit of a crossroads. The Double Tops that were formed were strong enough to lead to the bearish break, but may not be enough to push the pair down much farther. We could see the formation of a Range that eventually leads to the start of a downtrend, but if we see a strong Bull Candle above the Counter Trend Line (CTL) the Uptrend could continue.

Daily Chart below shows the breakout that took place below the Inner and Outer Trend Lines. Supporting this breakout were the Double Tops and the fact that we had rallied by  600 Pips, exceeding the Monthly Range for this pair.

DAILY CHART

Despite this break, the Double Tops seen here were too weak to start a significant downtrend. The first part of this pattern was strong, but the weakness of the candles for the 2nd `Top` rendered the signal too weak.

DAILY CHART

The candles shown here, however, are closer to what we would expect for Double Tops.

DAILY CHART

So what can we expect at this juncture? Well one of two options. 

SCENARIO 1 - CONSOLIDATION ?

Since this breakout may not take place right away, the market could go into a period of Consolidation in the form of a Range. This is typically what you will see when the Monthly Range is hit and/or a Trend Change is going to take place.

DAILY CHART- RANGE SETUP?

We would see a rally to form the 2nd Support to complete the Range followed by a U-turn to breakout bearish. The new trend would be formed as the Swiss Franc regains lost ground against the Loonie.

SCENARIO 2 - RESUMPTION OF UPTREND ?

The Uptrend could actually resume with a simple Bullish Candle and break of the Counter Trend Line (CTL). Even though we are at the Monthly Range of the currency pair, trends can also continue once the setup and signals are strong enough.

DAILY CHART

Until the market shows us its cards, lets wait on the sidelines and then take appropriate action. Get familiar with how to trade these setups and then enjoy the Pips as they continue to roll in using my Methodology.

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3 WAVE RULE DENIES BEARS ON CAD CHF - forex trading social network trading system

3 WAVE RULE DENIES BEARS ON CAD CHF ~ forex trading social network trading system

What looked like a promising bearish breakout has now turned Bullish with a sharp U-Turn that appears to have come out of thin air. However, based on our 3-Wave Rule of market trends, this pullback was always expected at some point in time.

Daily Chart below shows the strong Bull Candle that is now heading back to the broken Support barrier.


DAILY CHART

The cause of this reversal was the trend on the 4 Hour Chart. Several waves of bearish setups had led to that Daily Bearish Signal that broke the Range Support. However, pullbacks such as these are always to be expected to take place, making a short position an unwise one.


4 HOUR CHART

This technical aspect of trends can be seen across the Forex Market on all time frames. If there are several of these waves on a lower time frame, the immediate higher time frame will eventually pullback sharply.

In situations like these, we will either see a continuation of this rally that takes us back up to Resistance (False Consolidation Breakout Reversal)...


DAILY CHART

....or a U-Turn after testing Support to resume breakout...


DAILY CHART

In either case, the signal on the Daily Chart will have to be strong enough to justify entry such as the case with the GBP CAD trade (see Recent Trades).

Lets wait and see what unfolds.

In the meantime....

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Duane Shepherd

(M.Sc. Economics, B.Sc. Management and Economics)

Currency Analyst/Trader

Contact: shepherdduane@gmail.com

Twitter: @WorldWide876

Facebook: DRFXTRADING
Website: www.drfxswingtrading.com

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USD CHF 100s OF PIPS BULLISH OR BEARISH - forex trading system reviews

USD CHF 100s OF PIPS BULLISH OR BEARISH ~ forex trading system reviews

Hundreds of Pips in either direction appear to be possible for the next few weeks if we see strong Bullish or Bearish breakout signals. The Weekly Range has recently been hit after a very long and slow trend and has now settled above a major Downtrend Line. A convincing Bullish Candle break above Resistance would put the 0,9400 area in play, while a break short to also take out the Uptrend Line would make 0,8700 the long-term bearish target.

The currency pair has started to move within a small Range above the Inner Uptrend Line, following a rally to the 0,9100 area.

DAILY CHART

The gains for the Swiss Franc also put the pair above a major Outer Trend Line of a previous Downtrend.


DAILY CHART

As you can see, the recent uptrend was part of a break from the Inner Trend Line to the Outer Trend Line of that Downtrend. From this point, the market could either break higher for an even stronger Uptrend or break lower to resume the overall Downtrend. In continuing higher, the Daily Chart would first have to break the Resistance of its current Range setup.

DAILY CHART

The first major target would be the next Weekly Range which would be at the 0,9435 area. Short-term targets will be hit along the way as traders exit profitable positions in this new uptrend. Equally profitable targets could also be hit going short if there is a breakout bearish from this Range along with a break of the Outer Uptrend Line.

DAILY CHART

Before breaking bearish, the currency pair could actually spend a little longer in this Range to carry it closer to the Outer Trend Line. At times, trend changes that involve Consolidation breakouts tend to take place simultaneously with Trend Line breaks to make the start of the new trend even more convincing (TRADE TIP).

See how the concept of the Weekly Range and Consolidation breakouts worked on past trades in the Free Preview of the Trading Manual;

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Twitter: @WorldWide876

Facebook: DRFXTRADING 

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108 PIPS FROM AUD CHF RATE OF RETURN NOW 32 - lazy trading forex system

108 PIPS FROM AUD CHF RATE OF RETURN NOW 32 ~ lazy trading forex system

We took advantage of recent Aussie Dollar strengthen to capture 108 Pips from the AUD CHF last week. This pair was headed to the Resistance of its large Pennant on the Daily Chart, providing a strong Bull Candle Signal to give us this short and quick trading gain. This has now pushed the Rate of Return from the Aggressive Swing Trading Strategies to 32%.

RATE OF RETURN 2016 

Chart and Video below show the setup for this trade. Daily Chart shows the Pennant Setup that had been formed in 2015 and the recent rally at its Support.

DAILY CHART - LARGE PENNANT CONSOLIDATION

VIDEO ANALYSIS OF TRADE SETUP

The Daily Chart provided a strong Bullish Candlestick Signal known as a Morning Star to break the Downtrend Line. This was expected to resume the rally towards the Resistance of Pennant.

DAILY CHART - BULLISH CANDLESTICK SIGNAL

After using the Trade Analysis Sheets from the Trading Manual to confirm the viability of this setup, the 4 Hour Chart - with this Entry Setup sent to Subscribers- was used to execute the trade. 

4 HOUR CHART ENTRY SETUP

After a few days, trade target was hit.

TRADE RESULT, 108 PIPS

TRADE SUMMARY - MYFXBOOK

(https://www.myfxbook.com/portfolio/aggressive-swing-trading/1474786)

VIDEO ANALYSIS OF TRADE

MAIN HIGHLIGHTS OF TRADE

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• Accurate Analysis of the Market Needed to Spot Profitable Trades;

• Strong Bullish Candlestick Formations - For Entry Signals and Stop Losses;

• Breaks of Downtrend Lines;

• The "Near End Value" of Large Consolidations (See Trading Manual);

• Swing Trading is the Preferred Way to Trade Successfully;

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EURO USD MAJOR DECLINE TO SUPPORT AT 1 2154 - forex trading renko system

EURO USD MAJOR DECLINE TO SUPPORT AT 1 2154 ~ forex trading renko system

As the EURO USD continues to decline, a temporary pullback appears to be on the horizon in the next few days as the pair approaches its 2nd Weekly Range price target. Since this area will also coincide with the Monthly Range also being hit, a significant rally or consolidation is expected after that price point is reached. Following this pause in the downtrend, gains for the USD will resume as it sets its sight on the major Support area of 1,2154.

The first graph below shows that we are just about 100 Pips away from the 2nd Weekly Range and the Monthly Range being hit. Based on the average Weekly Range of the EURO USD, this target is expected to be at the 1,3307 area.

DAILY CHART

 

In most cases, currency pairs tend to pullback or go through a period of consolidation when the 2nd Weekly Range is hit. At that area, they will either start a new trend or resume the existing trend with another strong setup and signal. With this new downtrend having been formed with the break of the Inner and Outer Trend Lines of the uptrend started in July of 2012, a continuation in the current direction is expected.

DAILY CHART

This new trend has also led to a break back inside of the Resistance of the large Pennant setup. We are therefore likely to see a long-term decline to the Support area at 1,2154, over 1,200 Pips away.

DAILY CHART

Along the way, the market is expected to pullback at major past Support areas that can also be used as profit-taking targets. Some traders who trade against the trend will also be buying at these areas, while others will be selling as the pullbacks give way to the resumption of the strong long-term downtrend.

DAILY CHART

In trading these movements in the direction of the trend, one must ensure that the setups and signals are strong and clear enough. Naturally I recommend the setups in my Trading Manual based on Price Action, but if you are a Day Trader and/or someone who uses indicators, ensure that your analysis is spot on to capture the large number of pips that will be on offer over the next few months.

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Twitter: @WorldWide876

Facebook: DRFXTRADING 

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MAJOR TREND CHANGE EURO JPY EASY 250 PIPS - mathematical forex trading system review

MAJOR TREND CHANGE EURO JPY EASY 250 PIPS ~ mathematical forex trading system review

The bearish pattern now seen on the EURO JPY as part of a major trend change, could either be one of the largest Bear Crowns you will see in the Forex or a setup for a very large Pennant Consolidation. A small Pennant has just been broken on the Daily Chart that could provide 250- 280 Pips of potential trading gains. However, given the uncertainty of the larger formation taking shape, this might actually be a very risky trade.

The Pennant broken can be seen here along with the potential take profit areas if the breakout takes place. The Breakout Equivalent is the expected target to be hit based on the size of the Pennant, while the Weekly Range is the average distance that this pair moves when it is trending.

DAILY CHART - PENNANT BREAKOUT

DAILY CHART - BREAKOUT TARGETS

On the face of it, this looks like a very straightforward Consolidation Breakout setup with a strong bearish candle signal. If this breakout materializes, the targets would be hit within 3-6 days to give traders a good profit in a market offering very few opportunities. This may even be supported by a very large, though awkward-looking Bear Crown Setup and a movement towards the major Outer Uptrend Line.

DAILY CHART - BEAR CROWN

DAILY CHART - INNER & OUTER TREND LINES

Breaks of Trend Lines that follow the end of a major trend usually lead to movement towards an Outer Trend Line if this exits. However, another look at the setup also gives us the impression that this awkward pattern may actually be a very large Pennant that is being formed. This would mean that a Reversal and False Breakout will actually be the pattern that we actually see that leads to the 2nd Support of this Pennant being formed.

DAILY CHART - CONSOLIDATION ?

This setup actually looks to be the more likely outcome given the unusual pattern of this currency pair. Such large Consolidations also tend to appear when the market is transitioning from the end of a major trend to the start of another.

DAILY CHART- EURO USD

DAILY CHART-  AUD USD

Aggressive traders could take the chance to trade this breakout in case we are wrong about this large Pennant. But given the examples of similar setups across the market, it may be better to forgo this one and wait for another, clearer trade setup.

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Currency Analyst/Trader

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Twitter: @WorldWide876

Facebook: DRFXTRADING 

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