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pro4Xtrader

High Probability Forecasts

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Hello fellow traders!

 

This is my first post and I would like to start a trade journal where I can share my trading ideas where I am always open for any comments, feedback and suggestions.

 

The reason this thread called "high probability" is because I'll try to share only cherry picked setups here.

 

Hope this will be a hot and friendly thread!

 

Regards,

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Ok so lets get started, first is the EURUSD that looks very bearish still. There should be the final wave down of around 200 pips before/if it will start rising mid/long term. here is how I see it

15843nm.png

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Clearly there is a long term uptrend on GBPAUD that appears to be still valid. I am expecting rate to continue rising targeting 1.9737. Target should be reached either by 7th of May or 7th of June.

2lxifer.png

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US Oil – WTI just hit my upside target at 56 USD for a barrel. Not its an interesting level that should be monitored. Breakout above should trigger further extensions up while if rejected correction will take place.

2uzcvhv.jpg

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According to my analysis USDJPY eventually should move lower. However at the same time while the new cycle begins it could trigger a correctional move up for about 200-300 pips. Need to watch current support.

 

161ygxz.png

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Interesting setup on NZDJPY.

The long term picture looks pretty bearish, while in short term pair facing no resistance, while the support has been rejected. It could be a good long trade for approximately 100 pips potential gain. Soon we’ll find out.

o5njp0.png

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GBPUSD did break the support that implies that it will move lower eventually. However the cyclic analysis warns on the potential move higher first. So there are two trade setups, buy and sell … will be interesting to follow.

2h5i2yd.png

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For now USDJPY should continue moving up towards our target at 120.20. When/if hit I’d start looking for mid/long term sell opportunities as most pairs signaling on potential weak USD and strong JPY in the next weeks/months to come.

t5nfxt.png

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Across the board AUD could be losing value, fast. This would establish trend on most AUD pairs, especially GBPAUD, EURAUD and AUDJPY. But in this particular case here is EURAUD likely scenario… quite large upside potential.

2zg6s8y.png

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Crude Oil established a key support level at 54 Dollars for a Barrel. While at this stage new highs can be expected in the mid/long term, it is very likely that 54 level will be tested once again.

295tt7p.png

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NZDUSD in my view has confirmed the mid/long term downtrend. But now with the new cycle I think it will correct up slightly before the rally down begins. I’d be looking for selling opportunities around 0.76 area.

14jc3y8.png

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I think it is obvious that there is significant support at 54 level and significant resistance at 58. At this point with the double top on the lower timeframe WTI has all chances to correct back to 54, after witch we might see uptrend continuation.

1418aba.png

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NZDUSD entered the downtrend cycle that could last approximately 2 months. As a target I see 0.7270 area. As it currently holding the resistance, there could be a good entry point presented early next week.

5nj30j.png

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    • Hi everyone, The latest Commitments of Traders review is out. Mexican Peso
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      FOREX Trading
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