4 Trading Opportunities- Sunday FOREX Analysis
4 Trading Opportunities- Sunday FOREX Analysis
In the following analysis, I will share with you 4 Trading Opportunities- Sunday FOREX Analysis. It is meant to be used as a pure educational analysis more than anything else, especially a recommendation. This is the way I see the market on Sunday, 19th of March, 2017.
by: Colibri Trader
4 Trading Opportunities- Sunday FOREX Analysis
#1 EURUSD 4 Hour Chart
In the first of the 4 trading opportunities, I am looking at the EURUSD. Since, I do not like to make guesses, I will be waiting for this pair to reach the level of 1.0850. This is a major level of resistance. Once the price reaches that level, I will be looking for a sign from the Daily chart. If I have a confirmation from price action, I will act upon it. Let’s have a look at the chart below:
#2 AUDUSD 4 Hour Chart
The second trading opportunity that I will be looking for is another potential short sale on AUDUSD. Seems to me that the price might bounce back from the major resistance area at 0.7740. I will be looking for a daily candlestick confirmation before acting on it. Alternative (and very feasible) scenario is a breakout. If the daily price action is confirming the case for a breakout, I might wait for a retracement back to this level to go long. Let’s have a look at the screenshot below to visualise better these two scenarios:
#3 USDJPY 4 Hour Chart
In the third trading opportunity, I will be looking for a possible reversal. Once the price reaches the 112.00 level, I will be looking for price action confirmation. If I see a bullish candle around this level, I will be looking to go long. Alternatively, it could be a breakout, which should again be confirmed with a price action setup. I have been short (as many of you might have followed) since a few days already. The first target was reached and we might see the second one be breached, top. For the ones of you who have not read that post, you can check it out HERE.
#4 GBPJPY 4 Hour Chart
In the chart below, you can see the 4 Hour price action of GBPJPY. I have been short for a few days already. If you have not read the post yet, please go ahead and read it HERE. You can check the following article, which is quite educational too- Two trades that worked out amazingly well.
What I am looking in this chart below is for the price to approach the support level. On the daily chart, I will be searching for a candlestick confirmation to go long. If there is no such price action confirmation, I will just let this trade run.
Happy Trading,
Colibri Trader
P.S.
If you are not sure what is Price Action- go ahead and check out Price Action Explained or if you want to learn the exact trading strategy I use, please check out my trading course HERE.
Colibri Trader,
Thanks for posting these solid trade ideas as I’ve never traded currencies one thing that I have an interest in is deciphering news macro-related events to back the catalyst for potential moves
Can you advise any reading literature that could assist a trader in this area or do you offer anything on this subject.
Thank you
Hi Dan,
There are many literatures out there that I have read, and they seem to be repeating the same thing over and over. Reading ColibriTrader though, it seems that theories are applicable. Why don’t we just join the membership? We’ve seen ColibriTrader and insight are very useful instead of reading literatures.
Hi Colibri,
I thought that by course purchase that made me a member auto ..
Hi Dan,
I didn’t know you purchased the course 🙂
I also bought the course. Some stuffs he from the course I already read from books or forums, yet I need Colibri guide to understand what others are saying.
What I meant by being a member was whether you have purchased Colibri course, pardon me for not being clear.
-Harry