For this analysis I am doing on XAUUSD, you can see that price is going to test the major supply zone a third time, if it manage to reverse and break through the grey rectangle as seen in the chart - then it would be safer to open a short on this but if it create new highs above the stop loss which is set at 1747 then my analysis on XAUUSD would be invalidated....
Ideal day-trade idea when the market open the following week, price has respected the supply zone and bounced off after completing the "W" shape. Currently, it is ideal to short this pair at any entry level you can enter as long as it is above the demand zone.
Moving onto this AUDJPY pair, you can see from the chart that the "M" shape has just completed its final leg and is testing the demand zone. I see huge potential for it to bounce off this demand zone and break out of the descending triangle which can also be viewed as a "Bullish Flag" from a bigger picture, adding more credibility to open a long position. I am...
For this EURUSD chart, you can see a similar bullish W being formed and that price is bouncing off the supply zone. It has broken and re-tested the retail S&R as seen in the small white rectangle in the chart, I expected this to be more of a swing-trade before it finally touches the demand zone and shoot back up
Price for EURGBP has already approached the supply zone and this is a golden opportunity for short selling this currency pair. If you view it from a 1Hr time-frame as shown in the picture above, you can clearly see a bullish W has been fully formed which provides greater confluence for shorting this pair as well. I already draw a grey line which I expected price...
