USDCAD Triangle Break - Trade Opportunity

USDCAD M30 Triangle

Price is consolidating in the triangle from past few sessions. A break of this triangle should provide a trade opportunity. 

Strategy is to go short on break of lower trendline and long on break of upper trendline. 

EURUSD Triangle Watch

Triangle am watching in EURUSD. 

Looks like price is entering a consolidation phase between trendline. 

Strategy would be to play pullback from these trendline.

GBPUSD Consolidation Channel

GBPUSD H4

Currently price is trading near to big support/resistance level. Previous post and chart [here].

Price is moving in ascending channel and looks like price is creeping up. As long as price remains within the channel, it calls for more upside. 

My strategy is to go long near the lower trendline of channel and short on touch of upper trendline.

EURJPY Channel

EURJPY H4

I am watching this channel from past few sessions and its coming out very well. Previous post [here].

Price is coming down after spiking to the top of the channel. Looks like price will consolidate within the channel. 

EURJPY Channel For Next Week

EURJPY H4

EURJPY Channel trade. 

Plan to short near the channel's upper trendline and to go long near the lower trendline.

AUDUSD Support-Resistance Levels For Next Week

AUDUSD H4

The price is still confined in 1.06-1.01 range. And in between them there are couple of support-resistance levels to watch for. 

Currently price is pulling back from support-turned-resistance area around 1.0335. Above this lies another resistance at 1.0370/75. 

I will be watching these level next week closely for any potential trade setup.

EURUSD Support-Resistance Levels

EURUSD H4

Currently price is hitting channel's lower trendline. Just above that lies a big resistance level. 

A good momentum is required to break the resistance level. Price action was unable to it on several previous occasions. 

I will be watching this area next week closely for any potential trade setups.

GBPUSD Trendline And Support-Resistance Levels

GBPUSD Hourly

GBPUSD price action is well respecting this trendline. First it started with support and when broken it turned into resistance, which when broken upside, turned support again. 

Currently it is acting as resistance on any spike. Now the price is between the trendline and support area. 
On any dips, I am expecting the support to hold and to push prices higher. 

GBPUSD Long Trade Setup

GBPUSD Daily

Area around 1.5250/60 has provided a good resistance in past. 

In previous many sessions price has tried to cross the resistance level but it has failed. On Friday, post NFP rally price has not only closed above the resistance level but it has also made good gains above it. 

I expect the resistance to turn support on any dips. Price action looks bullish in medium term. 

Any dips towards the support level 1.5250/60 should be considered as buying opportunities. 

AUDUSD Double Top

AUDUSD Hourly

Pair has made a double top and letter M on hourly charts. 

Currently price is near to neckline of letter M formation and might see a bounce to upper resistance. 1.04 area will be a good resistance now. That would be a nice place to enter shorts.

I will be wait for any spikes towards 1.04 resistance area to enter shorts.

EURUSD Channel Holding Up

EURUSD Hourly

Yesterday's rally after ECB meeting stalled right at the channel's upper trendline. 

A break above the channel will push the pair higher and mean that a short term bottom at 1.2750 is in place. 

GBPUSD at Resistance 1.5255/60

GBPUSD Hourly

Yesterday's big spike stalled just short of the big resistance level around 1.5255/60

This is a big resistance level and price looks little over-brought. So I am expecting a pullback till the trendline before up move resume, if it have to.

EURJPY Short Trade Plan

EURJPY H4

Although after today's Yen weakness, shorting XXXJPY pairs is not a good idea but the today's moves seems exorbitant. 
I also favor shorting Yen, but currently I am looking for a pullback. Its purely a technical trade and currently price looks very overbrought on all timeframes. 

There's a descending channel on H4 charts and price is trading inside it since last week of Jan-13. Price is near to channel's upper trendline. 

I plan to short, small size, on touch of the channel. That area comes around 124.75/80. I am looking for a pullback. Stop will be on H4 close above the channel. 

GOLD breaking short term triangle

GOLD M15

Gold broke the short term triangle. 

Looks like a bottom in place. 

For bigger picture and my trade plan, see post.

Next resistance comes at 1560. 

AUDUSD Support Level

AUDUSD H4

AUDUSD at major support level and looks like pair is bouncing from it. 

A clear break and close below will send the pair lower. 

EURUSD Major Resistance

EURUSD Hourly

Currently at major resistance. So far this resistance has capped any rallies. 

A break of it indicates that a bottom is in place and should send pair higher. 

Next resistance comes in form of channel. 

Another way of looking at chart is the hourly channel that is forming up and a bounce from them support at 1.2750. Chart below:

EURUSD Hourly

GBPUSD Major Support

GBPUSD H4

We might be in for a bounce after yesterday's drop. 

Currently price is touching a major support area which is held since long. This area comes around 1.5075/80. 

I went long at 1.5085 and looking for a bounce here.

-----------------------------
UPDATE:
I banked long trade at 1.5140. A total profit of +55pips..

AUDJPY Channel and Resistance

AUDJPY Hourly

Pair is in descending channel. 

On any spike, strong resistance comes up at 98.20/25 area. This area is support turned resistance and I am expecting this to hold. 

I plan to go short on touch of the resistance area with stop on daily close above it and targeting middle/lower part of the channel.

GOLD at Major Support

GOLD Daily

I am watching this setup from past few sessions. 
GOLD has been trading in a daily triangle since long and now is touching the lower trendline.
Just below the trendline comes another major support area. 

EURUSD Channel

EURUSD Hourly

Pair is drawing up a falling channel and currently price is in middle of it. 

Currently price is at support-turned-resistance and if price goes thru it then next resistance comes at channel upper trendline which has been held since Feb-2013. 

AUDUSD Daily Range

AUDUSD Daily

Looks like AUDUSD is range bound between 1.06 and 1.0150. Price is oscillating between these levels since August-2012. 

After the recent RBA statement, price are moving up, but I expect that to be limited. I am planning to short the pair near to trendline, which has restrained price previously also. This area comes around 1.05.