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Back on support price of 1797, the range continues... We didn't quite push up to resistance. But filled majority of the range.
Bit late for us personally, but interested to see where we are tomorrow for EUR/LON market open.
Big moves seen across the Crypto board, lower timeframe breakout has since seen a one way rally.
Possible market corrections from our $40-$41k price. Eyes peeled for rejections and range continuations.
Very similar chart to the EURJPY and USDWTI chart we have, clear and concise trading zones, with clear bearish direction. Evident lower highs and lower lows.
Trading zones seem to be responding well which is the first step. Measurable risk to reward too which is perfect. Already in EJ shorts, so this isn't something I'll explore, but good to see for...
Long setup indicated here, again another one carried forward from last week, looking to see if we double bottom from our interim support/resistance price. If we do, we have a solid 4.2R trade measured from our buy zone to take profit target.
We pushed just slightly shy of 2R on the latest bounce, but again, fresh week more volume. Lets see what we can...
I have to keep this one going really, even with the US data last week causing some big downside wicks (stoppage likely), support still ended up holding and our market close and open was there or there abouts with the bottom of our support price.
Simply looking to buy from support and sell from resistance until we see a very clear break of this orange range box.
Nice trading zones highlighted here. Clear bear trend on the H4 and D1, so we are trading the zones in line with the overall market trend.
We also have our D1 and H4 supply, depending on which instrument you're trading brent/crude.
Quite and attractive 6R potential on this one too. Hopefully resistance/supply holds and we start to see a nice bear...
Failed to break the previous breakout high, hopefully you guys can see the familiarity and logic behind why and where we mark and place our trading zones now, and why we use 'breakout highs/lows' as an element of confluence.
We may see something similar to the previous range, until we have something to justify a bullish USD continuation or otherwise.
Of course, inline with the DXY break we have seen, we have obviously got various USD*** bull break setups and ***USD bear break setups.
We have seen an initial rejection of 1.27800, not so much interested in the short setup we have indicated, more so jumping in with the bullish move from 1.26250 support up to 1.27800 again with the chance up breaking...
Resistance has seen an upside breach. Waiting for a support pullback, once of the main perks trading this strategy, regardless of whether a zone holds and rejects, or breaks and retest. We can also prepare and measure the trade or alternative trade, depending on what happens.
As annotated, waiting for the pullback (just like DXY H4 chart) before...
A break short of $70/barrel would be quite significant in my eyes, threatening the break as we speak, but need to ideally see a solid H4 close below. Our H4 support region is trading marginally below that $70 whole number, but the 'zone' is still a decent support region.
Just need to wait for price exhaustion, especially with a volatile pair like WTI....
We covered this yesterday in the analysis webinar, since the EUR/LON session has kicked off, market volume is back we have seen an upside USD resistance break.
Need to be patient now and wait for price to retest/pullback back to our demand/support zone so we can eye up potential USD*** long opportunities, or ***USD short opportunities.
The pair hit a high of 1.3898 yesterday after more hawkish remarks by BOE policymaker, Michael Saunders.
Sellers tried testing waters just below 1.3800 earlier, with the low touching 1.3793 for a brief moment before a turnaround now to a session high of 1.3850.
In the bigger picture, the BOE has been playing it slow with regards to normalising policy...
Popped above our interim S/R zone now and looking to see if we hold support on the retest. If so, we have planned and measured a swing up to our resistance.
4.5R from interim S/R up to resistance.
really nice rejection, perfect evening star on the H4 yesterday on a key resistance zone, stacking price action with higher timeframe, powerful trading zones is exactly what we aim to do with these less impulsive pairs, ended up pushing 5R from the lowest price before the market correction.
Could see downside continuations come back into play as we...
USDWTI H4 -
Extending higher with clear fresh highs set. Looking for a pullback to repeat what we have marked up and executed over the last few weeks, demand is still there, price is still on the rally. Simply looking to buy the dips effectively.
Hard to predict TP targets, typically we use the previous breakout high, but it's not always quantifiable, and with...
Nice little bounce from our confluence zone, £1600 price, H4 demand and S/R.
Little threat on the lower timeframe but seemed to hold on the H4 close nicely, Almost at £1700 price, which would offer the initial 2R, possible first TP target if profits not already been taken.
Manic moves from gold off the back of Fridays antics. Really struggled to break above 1793 resistance which we had spoken about. Eyes peeled on this top resistance price, hourly range seem to be holding quite nicely. Higher lows are still being set, so maybe waiting for a lower timeframe break and retest would be prudent in this instance.