Forex Trading Setups (05.16.2018) - EURNZD, AUDJPY, CADJPY

Dear Steemians, welcome to Wave Analysis...
Today, we have 3 new trade setups. Then I will update the Hotlist.

You can see the charts and brief explanations down below. But if you like to have more details please visit the published idea pages on Tradingview by clicking the name of the assets and watch today's analysis video on DTube by clicking the following image.

New Trade Setups

EURNZD

EURNZD has a very good potential for downside. You can see my target on the daily chart. Now, I'm waiting for a correction to take a short trade.

AUDJPY

It is not so clear in higher timeframes but the structure in 1H looks like very bullish. I hope it will come down one more time. It will give us a better correction. But now I'm waiting for a small flag in 15m to take a long trade. The target is not clear. It can be huge, we will see.

CADJPY

This is very clear long trade setup. It made a 4H corrective structure. Then 1H correction after the breakout, and now 15m correction is in the making. That's why I placed an entry order. But there is a problem here. Our entry is far away from the bottom. If it goes up fast like the previous up impulse, perfect I will be in the trade. Otherwise, it will probably make a deeper correction after some up moves. Because of this possibility, the stop-loss should be moved to breakeven as quickly as possible.

Updating of Hotlist Items

Active Trades

USDCAD: I wasn't expect such a sharp up move. I hope it made a correction for more downside. We will see, just leave it alone.

USDJPY: I'm waiting for a bigger correction to take another long trade.

GBPCHF: It's coming down but there isn't any momentum so far. That's why the whole down move can be a correction. If it makes an up impulse and a correction, I will close my trade.

CHFJPY: Wait for breakout andcorrection to take second long trade.

XAUUSD: Leave it alone. If you don't have any short trade

XAGUSD: There is still chance for up move but if it makes a correction, I will close my trade.

XPDUSD: Doesn't look good. If it makes a deep correction I will close my trade. Otherwise, I will not touch it.

Removed from the Hotlist

GBPUSD: It broke the previous bottom. So, there is no trade setup anymore.
NZDUSD: It broke the previous bottom. So, there is no trade setup anymore.
EURGBP: I moved the stop-loss to almost breakeven while I was recording today's video analysis. So, I couldn't share the update. My trade is stopped out.
GER30: Still looking for down impulse but there isn't any trade setup at this point.
XPTUSD: Breakeven trade.

You can visit the published idea page on Tradingview by clicking the name of the asset. If you like to see more details and explanations about this trade setup and updating of Hotlist items you can watch today's video on DTube by clicking the following image.

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Until next time, trade with care.

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What is Hotlist?
Hotlist a short list, which contains charts that were shared in previous days. So, today's new trade setup will be in the Hotlist tomorrow, and I will update its status every day until I remove it from the list. Each chart will be in the Hotlist as long as we have an active trade or a pending order or its trade setup remains valid.

Disclaimer:
Don't invest more money than you can afford to lose. Trading carries a high degree of risk. Everything here is my personal opinion, should not be considered as trade calls.