Forex Technical Analysis & setups for the week starting 17th June 2019

Last week we had good run in Gold and setup was pinpoint around 1320 level and tp was 1348 & that hit in no time. This week we have few setups lined up and one of the best entry point is Aud/nzd which is around 1.0550 with stops around 1.0500 & First Target is 1.740

I'm eyeing big move in Aud/nzd in coming weeks and months . So, I would advise all of you to buy two lots of 0.10 cents with stops around the recent low and psychological level 1.0492

Idea of buying two lots is because we will close one position around recent high which is around 1.0720 level and let the another lot trail around 1.0650 & see if we can reach around 1.0900 level within this week or in the coming weeks or months.

Take a look at the charts of usd/jpy, chf/jpy & Aud/nzd with probabilities or If we can get to the entry point of another pairs within this week.

Usd/cad potential setup awaiting for very good Risk Reward opportunity

If you have been following my blog regularly then you might have known or well aware of Top-down analysis and in case you don't know how to take a trade from weekly to h4, then it is a great example of the potential setup in usd/cad.

As you see the chart about there is a hug sell-off in the area I mark with Red rectangel followed by retest failure and back to demand . I took that trade with 10 pips stop & got 140 plus pips. Same can be said as We see hesitation in reaching that level took 4 months & when price brokeout of that range , we again witness a huge sell.

Potential of that trade is huge as I'm eyeing new lows below the recent swing which is close to 1.3100 area. Set the stops tight and trail the entry with plus 100 & see the levels get broken very quickly. Take a trade around 1.3530 & set the stops around 1.3580-90 level & enjoy the tremendous potential profits which I see is more than a 70% chance of setup end up in profit.

I've also attached USd/jpy chart with the usd/cad chart & potential trade is offering very good reward but it depends on approach completely and if the orders below or above get executed then there are very little chances of sell-off but it still have very good chance of good setup & I would update the chart if I saw any opportunity after FOMC meeting minutes are released on Wednesday.

How to locate good risk Reward opportunities in Forex Trading

Hi , I am continuing from where I left last month. The point to target now is how to be patience and look for trades and what type of edge you can have and how you can spot good Risk Reward opportunities.

I'm hereby simplyfying the process of locating a trade. Trade locations can be everywhere but you need to look around and see what are the reasons and logic to take the trade if at all it has to rally in the direction of the trade.

Process of eliminating the Risk or getting high probability trades with Good Risk to Reward

I always look around and see the weekly chart once at the end of week to see if there is some synchronization between trade location and what relationship it has on lower time frames & only then I decide to look around in the coming week, when or if price approach that trade location.

Chart below explain why I dont look around too much for help or not concerned at all what happening out between U.S & China. I just pick my chart & try to cut losses as much as I can & take the trade & set the stop and target.

Chart speaks louder than words or mare assumptions. That trade location is not too far away from Eur/usd trade & If that is right then we will probably see 1.1277 hold the downside risk & rally to atleast 1.1488 is possible but we need to see how it is approached as I'm still expecting an upside rally from 1.1290 area before approach to that trade location.

Rest I'll post an update soon, If an when price start rallying again, but there is no risk to downside in Euro is seen this current week or the weeks to come.

Euro is aproaching crucial Price Action zone 1.1290 Origin of Down move

Last time, I made a post on euro around 1.1248 area which cap the upside and went to as down as 1.1100 ish area & now as price is lot more bullish but still vulenrable around 1.1270 area & I would keep and eye on how price Approach crucial 1.1290 area as it could be turning point for euro if it breach 1.1290 & 1.1330 area.

Euro dollar Price Action Zone Strategy recommending a turning or reversal

Its not difficult to find turning points in euro at the moment. Falling trendline from the top & resistance 1.1270 capping the upside & a bullish move from here will surely get headwinds around the crucial 1.1290-1324 zone. I would still put my stops around 1.1340 to protect from excessive buying and complete stop hunting before we see any move down towards 1.1070 area.

Crude oil target hit . looking for recovery And then see price Action around 57.00 Area

Yesterday, I post the target of Crude oil around 53.20 level ( See My earlier post here> But I never expected the target to be reached in one session but that is what price action is all about.

Aud/cad is facing headwinds around 0.9420 area

As I have stated so many times in my blog that I only trade locations and failures and recent trade of crude oil future was one of the prime example of 1:30 risk reward & now I'm target Aud/cad for the next week. Below I'm posting the weekly, daily & h4 chart to clear off the doubts where we should look for PA to respond.

Price Action is already give me some clues of fake attempts to rise of demand levels below after getting rejecting from Support resistance Flips & it still require the final test of the level 0.9420 for the rally towards the low around 0.9320 which is also the structure low of the recent rally from bottom.

Prime Trading examples includes few things which are syncrhonization of the weekly, daily & h4 chart & all the price Action followed the same old techniques of failed patterns and final stop hunting towards the bullish trend which will end soon and we could see a low of 0.9070 area to be tested once again.

My stops would be around 0.9448 area & my first initial target in Aud/cad would be 0.9330 & then 0.9242

I will update the chart on Monday on most probable price Action next week.

Crude oil plunge after break & targeting 53.50 Area

As, I mentioned previously that I'm bearish on Crude oil futures ( You can check my latest post here ). I'm still targeting the lows of the rally from confluence point of view & target was triggered after weekly supply around 64.00 hold the upside momentum & then we saw technical moves around 57.00 area when I pointed out few stop hunting moves & finally that level was given away by bulls yesterday after Crude oil futures data released & puts pressure on the WTI again.

Take a look that Chart below

In the post below, I've managed to spot out real time trade of usd/cad in which I've spotted a nice rally through supply & then retest of the small demand zone which triggered the entry & you can also take an entry around these levels at intraday highs with stop below yesterday low and see if we can make it count.

How to track best opportunity in Trading with minimal Risk

I have spotted out few very good and easy techniques to trade forex. Below is the chart of Usd/cad in which we see a nice Rally base rally through consolidation zone & flags that hold the price down . RBR through that zone & then one nice bullish strong candles through the top of the h4 supply.

After we witness a strong rally through the supply, yesterday price action moves in between that patriot candle telling us that price will find supply or demand again through the low of candle with no risk & atleast there was 10 time rewards with 8 pips stops & 80 points target around 1.3560 area.