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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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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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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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    • AUDUSD Market Dragged Lower on Bears Dominance   AUDUSD Price Analysis – August 15 The bears were in full control moving the market lower in the prior session, although in the present session we see the pair found buyers around the level at 0.6748 for the 4th day in a row while the pairs bear dominance is evident falling to lowest close since the beginning of the year.   Key Levels Resistance Levels: 0.7297, 0.7207, 0.7085 Support Levels: 0.6748, 0.6676, 0.6620   AUDUSD long term Trend: Bearish In the bigger picture of the daily time frame, the decline from the level at 0.7207 (high) is seen as resuming the long term downtrend from 0.7297 (February high). Firm break of the level at 0.6876 (low) should confirm this bearish view.   On observation, further fall may be seen to the level at 0.6620 (low) next. On the upside, the break of the level at 0.7085 resistance is needed to be the first sign of medium-term bottoming. Otherwise, outlook will remain bearish even in case of a strong rebound.     AUDUSD short term Trend: Ranging On the flip side of the 4-hour chart, the AUDUSD is staying in consolidation from the level at 0.6676 and it’s intraday bias remains neutral first. On the upside, the break of the level at 0.6827 will extend the rebound.   But upside should be limited below the level at 0.6909 support turned resistance to bring fall resumption. On the downside, the break of the level at 0.6676 may target 100% projections from the level at 0.7085 to 0.6827 from 0.7085 at 0.6620 level reflecting on the daily chart.
    • EURJPY Approached Recent Swing Lows, Likely to Breach the Low of the Year on the Level at 117.50   EURJPY Price Analysis – August 16   The pair depreciated again in value against the Japanese Yen. The currency pair during the mid-week breached both the upper and lower horizontal lines on the moving average 5 and 13 while completing another lap on the low in today’s session towards the low level at 117.50.     Key Levels   Resistance Levels: 123.01, 121.40, 119.91   Support Levels: 117.50, 117.00, 114.84   EURJPY Long term Trend: Bearish The Daily time frame displays the EURJPY at the low, showing the pair is also testing a swing area on the level at the 117.50 to the level at 118.16 below the moving average 5 areas. The price attempted to dip below the area on August 12 to the low for the year on the level at 117.50, but could not keep the momentum going. The swing area was reestablished as support on August 13 and again today   However, buyers are trying to lean against the low level at 117.50, on the retest and hoping for a quick bounce. The trend is showing a bearish outlook in the medium and long term.   EURJPY Short term Trend: Ranging On its Intraday, the bias in EURJPY remains neutral for the moment. With the level of 119.91 minor resistance intact, further decline is in favor. Although a break of the level at 117.50 will resume a large downtrend to the level at 114.84 support next.   However, on the break of 119.91 resistance will indicate short term bottoming. A stronger rebound should be seen to the horizontal resistance line now at 121.40.
    • USDCHF Bounces Off Lower Prices On Correction.   USDCHF bounces off lower prices on correction the past week. This has opened the door for more gain in the new week. Resistance resides at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance comes in at the 0.9950 level. On the downside, support is seen at the 0.9750 level with a turn below here opening the door for more decline towards the 0.9700 level. And then the 0.9650 level. Further down, support resides at the 0.9600 level. All in all, USDCHF remains biased to the upside on further corrective strength.    
    • Can I ask what broker are you using for trading oil?
    • Hey, I am new to this. Anyone use software like this?? Is it legit?? 
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