Just putting this out there to see what you all think.
If you got something different, please feel free to post your WEEKLY charts in the comments with a brief explanation - so we can all learn :)
Thanks!
EIRCAD Rising to the Heavens.........
I entered at the lows ,1.52845
The Euro / Canadian Dollar denotes how many Canadian Dollars are needed to purchase one Euro. Crude oil is one of Canada's largest exports and as such, tends to be sensitive to fluctuations in crude oil prices and global growth expectations. The Eurozone is the largest monetary union in the...
Waiting for GBPNZD to breakdown and retest before entering. See post below for a breakdown of what happens last time GBPNZD was in this pattern.
Stoploss: Above the previous high
Target: bottom of the pattern
Those who win at the Forex game are those who are able to build on their case to take a trade, whether it be fibonacci, moving average, patterns etc. The more confluence, the better. This is why it is important to always wait for your confluences to line up before taking a trade.
For this particular trade, those who were waiting for the third touch of the upper...
GBP/AUD has broken out of a range in between 1.79130 - 1.79400, that is also a strong well respected area of resistance formed on the 4H timeframe and a more minor area of support formed on the 30 minute chart. The zones show very strong signs of bearish momentum stepping into the market.
Upon the breakout of support identified on the 30 minute chart, GA started...
I am expecting to see price fall to support area / level and RSI should be oversold level at this time then it will be good entry to buy up to the resistance area.
This is my personal view.
Trade at your own risk.
Hey guys hope you are all well!
Gold has been in a harsh range for a few days now which I have been keeping my eye on. A big part of the harsh movements in gold at the moment is due to the uncertainty of what president elect Joe Biden has to say tomorrow which is making the market move extremely sketchy. With gold ranging for a number of days I do expect a huge...
When you are trying to determinate whether a market is trending or not, you have to use
bigger time frames such the 4H, the daily or the weekly time frame.
Lower time frame might trick you when it comes to determine the market
structure
OVERVIEW:
Yesterday I called a sell trade on GBP/JPY from 140.900 to target 140.340 which ended up being a 55 pip win! As soon as the target was hit the market has spent the current trading day retesting 140.900 break of support as NEW RESISTANCE. There is now another opportunity to go short on GJ as it is coming up to NYSE open which could bring high volume into...
TECHNICAL ANALYSIS
Here is another beautiful set up on GBP/JPY for a potential 55 pip move! As you can see GJ had seen a wide range of consolidation last week which was also a very well respected area of resistance identified on the daily timeframe @142.00. On Friday 15th January, GJ finally broke out of consolidation zone to the downside, aggressively down...
1.20000 is a lovely buy area for me, this has been used as a key support and resistance level historically and will be used many times again as it is a nice round number.
On December 1st 2020 price broke through this level which was acting as strong resistance! Price has not since come down to re test this level as support which i think price is on its way to do...
Here is another nice clean, simple set up on GBP/AUD today. As you can see GBP/AUD has been trending to the upside for some time now creating consistent LH and HH along with a trend line where the market has created a low and then a new high 3 times now recently, despite the fact that the UK is in full national lockdown. Typically this means a BEARISH GBP, ...
This chart is an extension of my last idea. I drew the Fibonacci retracement from the last high to the recent low and it coincidentally matches up with my T/A.
I'm even more confident with my idea now if this plays out; nice profit!
Trade safe with a stop loss, the stop loss on this chart is just below the previous low in case we form a double bottom pattern,...
I am expecting to see the price go up to the 1.224 area where the resistance area is showing and it still have a good chance of going up further to 1.24 to meet the resistance level as for now my target will be set for 1.22
Also you can see the candle is showing few rejected wick on the 200 moving average along with RSI back up and support area , If the 200 MA...
This is GBP/USD on the 4hr chart. In most recent price we can see we broke a key level yesterday and we can see price has revisited our level quickly after. The blue circle at the top indicates where trendline bounces and whole psychological levels can be used in harmony to take high probability entries! If you remember we posted GU analysis on the 15 minute...
Here we have another nice clean GBP/JPY set up. GJ has been moving aggressively to the downside since the start of the trading week, dropping 170 pips from a major area of resistance at 141.250 (1D TF) all the way down to a major area of support at 139.500 that I have also identified on the Daily timeframe. As of now, the market is currently in a consolidation...
GBP/JPY has recently been moving to the upside, however upon todays trading session's there has been a shift in trend from the upside to the downside. As you can see, there has been a break of the trend line which indicates the shift in trend(140.735), price retested the break and continued to the downside towards an area of support that I have identified on the...
