Instrument of the day: AUDUSD

AUDUSD, sell

Reason to trade: Bearish pinbar on resistance + rebound from trend line
Stop Loss: Setup will be active until daily candle will close above the high of signal candle (0.76583)
Take Profit: Possible take profit area is last lows (~0.75664). If support (green line) will break price may create new low around 0.74895

Continue reading

Instruments of the day: GBPJPY, CADJPY

GBPJPY, sell

Reason to trade: Failed try to make new high (3rd day in a row), double top, bearish pinbar on resistance

Stop Loss: Setup will be active until daily candle will close above the high of signal candle (152.914)

Take Profit: Possible take profit area is last lows (~147.82). If support (green line) will break price may go additional 500+ pips to fill double top pattern

Continue reading