What To Trade In September
Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination. That said, let’s dive in!
EURAUD - W1 Timeframe
From the Weekly timeframe point-of-view, EURAUD has made the initial pull-away from the pivot zone, forming a tweezer tops candlestick pattern (another indication of a likely reversal). In the same vein, we can see that the price is trading within a rising channel and has had its most recent touch on the resistance trendline, meaning we can expect to see the price slide as far as the trendline support of the same channel. The confluences for this sentiment include;
- Trendline resistance;
- RSI Divergence;
- Pivot zone on the weekly timeframe; and
- The ‘tweezer tops’ candlestick pattern.
Analyst’s Expectations:
Direction: Bearish
Target: 1.64974
Invalidation: 1.70473
GBPJPY - W1 Timeframe
GBPJPY had a pretty amazing bull run for a couple of weeks, but the riotous run is ending. We have seen the price give off an initial reaction from the weekly pivot, with a consolidation forming inside the wedge pattern. Based on this, I am looking forward to a break below the support trendline of the wedge for me to go short on GBPJPY.
Analyst’s Expectations:
Direction: Bearish
Target: 175.218
Invalidation: 187.366
GBPCAD - W1 Timeframe
GBPCAD, on the weekly timeframe, is presenting what is often referred to as an AMD (Accumulation-Manipulation-Distribution) pattern. Here, we’ve seen a bearish break of structure, with the price recently returning to the supply zone that initiated the breakout move. Considering the bearish array of the moving averages and the likelihood of the price breaking below the trendline support to form a double-top pattern, I am bearish on this pair.
Analyst’s Expectations:
Direction: Bearish
Target: 1.68251
Invalidation: 1.73427
CONCLUSION
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
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