Price is testing a key supply and demand level on the daily timeframe and has been moving correctively in a descending channel for a few weeks now. The market has now tested this area twice recently on the H4 timeframe and is showing signs of holding. If the market holds at this level, we could finally see a swing to the upside, breaking out of the descending...
XAUUSD KEY LEVEL AND DEMAND ZONE ANALYSIS - Always read the price. Key levels and price action never lie - patience pays. Watch for these level to make good money in gold this week. You get paid to wait
GBPJPY SUPPLY AND DEMAND ANALYSIS/KEY LEVEL INTRADAY POSITION. We have some nice range going on with GBPJPY this week. Once price breaks out of the key level we can easily enter on the retest of it for an intraday position. This can be done on the m30 or m15 or even m5.
GBPJPY SUPPLY AND DEMAND ANALYSIS HIGH VOLUME. Identifying high volume levels is very important. The reason behind this is because in high volume levels there are unfilled orders from the banks which are pending to be activated once price returns to that area. My trading is based off 4h with high level zones.
So now we can see what has happened and what went wrong on our trade yesterday. We can see how price pushed up through the zone to gather more liquidity. The price faked out through our zone, trapped the buyers and reversed. Nothing to worry about - only a 1% loss. IF he had a higher stop loss we could have managed to stay in it. 1925.00 was a key level for gold.
Support Being Tested
Whilst the price of Bitcoin has not been doing much in the past two weeks, it now comes to an interesting level.
The medium-term trend on the higher time frame charts is higher with price in recent months making a strong move.
Price is now testing an important daily and 4 hour support level.
This level looks key if price is to continue the...