Little bit dangerous here as it looks like we have marginally cracked beneath support and we are trading sub 0.90.
However, we are still evidently up-trending, fib pullbacks tie in nicely with our 618 support zone. And no doubt looking to the left we still have an element of support. Currently jumped in this with a small 0.3% risk, 1:5R.
Patiently waiting for this set up.
The Daily chart is now showing a strong bullish trend .
Here you can see on the 30m chart a strong resistance level has been breached, how do we know this was a strong resistance level? Take a look how price reacted to the upper purple zone, we can see price head in to that area before being rejected sharply numerous times. We...
Sold off perfectly from our 1.40 handle, real sticking point resistance price. Sold off with ease down to 1.39, 100 pips without a H4 pullback. Now starting to see a bit of a correction.
Need to break 1.39 support and then we could set our eyes on potential moves down to 1.38.
Missed the top entry as I've been too focussed on crypto markets today, however this circa 300 day trading range seems like it wants to see another range fill.
3425 down to 2950 could be witnessed again with a huge 1:11R potential if we push 3400 again, I'll look to grab an entry. ALERT SET!
A strong H4 break here on EU, waiting for a correction back down towards our hopefully newly found support zone, we can simply look to scout out long entries from here up to breakout high initially and then towards our 1.21 region, area of resistance and weekly key level.
Based on last weeks resistance we saw a downside gap here on EJ followed by bearish continuations pulling us all the way down to our 129.800 support price.
Since, we have seen some sizeable wicks, interested to see where this H4 closes in 10 minutes. Possible second opportunity from support back up to resistance.
This idea I made is based of smart money concepts. There seem to be several confirmations that this trade will go as planned. News affecting the price of the USD is going to be released on Monday too, which is expected to be good for USD. This reinforces this trade as the USD being stronger will make the EUR/USD pair go down in price in a faster amount of time. I...
Effectively looking for an upside break of the area we have marked.
With regards to fibs and market corrections, this would be a good price, or at least our maximum correction potential before seeing bullish intervention again.
We will have to see what unfolds, but so far USD zones seem to be okay for the moment, which is positive.
Strong weekly demand imbalance lower, it now appears as though we are beginning to pullback to that area.
Either wait for confirmation (New demand zones on lower timeframe) or take as a set and forget type of trade.
Long bias! :)
Simple Trend line analysis on Bank Nifty spot prices.
Same can be drawn on April FUT as well and levels can be decided for trading FUT.
If 1 hr time Frame broken with Good volumes, could be good opportunity for long.
Also note near trendline Doji is present could be sign of reversal from trend line so wait for confirmation on either side
Big daily structure here, price has certainly slowed down as we have approached support, seen our first couple of bull candles on the H4 too.
High RR potential, would like to see some sort of lower timeframe structure break and retest for this pair. Or simply a bullish daily close.
Fast approaching that 1738 price we rejected nicely. Strong supply zone when has held comfortably. Would be an absolute sniper entry to see something like this unfold.
Also looks like an inverted exhaustion pattern, so a break above 1740 could be a break of resistance/supply and we could maybe scout longs upon a retest. Early doors still so lets see...
Another clear S/R range unfolding perfectly, offered another entry point over the last NA session and early eastern sessions last night for us UK traders.
Once we approach 0.71... you guessed it, lets set ourselves up with a potential long back up to 0.72400 if we can quantify it!
EASY AND STRESS FREE TRADING!
With the previous headlines affecting OIL markets, we have a dip lower and quick recovery, once the dust has settled, we could potentially look to scout out another long position with slightly tighter stops and increased RR potential.
Certainly an ambitious projection, but all we are really after is a strong break above all resistance in sight, including that 1.40 psychological number, followed by a simple retest.
This could gear us up for nice extensions back up to 1.42 region, the price we were pushing a couple of weeks ago.
This was covered quite a bit in the technical rundown which will be with you shortly, talking about buy exhaustion and loss of momentum, hence why we would need a lower timeframe structure break and retest which is what we are seeing at the moment.
A good topics of 'entries' was covered in yesterdays webinar with our members, and this one popped up,...
This setup doesn't seem to far from materializing. Really just looking for a nice confident break and retest of that 150.000 price, a really significant price to break, GBPCHF currently battling new highs, so we will follow these closely and monitor their performance side by side.