profitalztrading

profitalztrading

Hello traders! As usual I don't take any trades on Friday, so I prepared an educational post for you. This time I would like to introduce you DXY index and show you how to apply it in your trading to improve your trading! What is DXY? Basically DXY INDEX shows the value of USD to other currencies. This consist of EUR, JPY, CHF, GBP, CAD and SEK . How...

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Hello traders! Here are my thoughts on USD/CAD. 📈📉Trends: ⏳ Weekly- Bearish ⌛️ Daily- Bearish 🎯Confluence: 1) Strong bearish trend on the weekly timeframe. 2) Price broke through daily structure and re-tested it. 3) DXY is falling down 4) Price is below 50 MA, MACD shows downtrend 🟣 Purple zone - Weekly key level 🔵 Blue zone - Daily key level Don’t forget...

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Hello traders! Here are my thoughts on CAD/JPY. So, CADJPY has been bullish since November, creating HH and HL. Price got through the weekly key level multiple times easily, two times it led to false breakout. Once price got above 81.000 zone and sustained its position it bounced off the key level, while breaking the daily structure. This is the trade I am...

profitalztrading Updated 

Hey guys, just a quick update. For those who missed that, according to the BBC News, Tesla has bought BITCOIN worth of 1.5 billion dollars. Also, Tesla will allow BTC payments soon so I am expecting a new ATH created around the moon. So this is my simple analysis based on today's news. Cheers! -ProfitalzTrading

profitalztrading Updated 

Hello traders! Here are my thoughts on GBP/JPY. 📈📉Trends: ⏳ Weekly- Bullish ⌛️ Daily- Bullish 🎯Confluence: 1. Price broke the resistance 2. Retest of the resistance now support was successful 3. MACD and MA playing in our favor 🟣 Purple zone - Weekly key level 🔵 Blue zone - Daily key level Don’t forget to let me know your opinion on this in the comment...

profitalztrading

Hello traders! Here are my thoughts on EUR/AUD pair. Price has been trending down for a long time. As you can see on the chart, price had respected trend line multiple of times. After every touch a strong push phase to the downside has came. After last touch around 1.59100 area strong push came. Price is breaking through the weekly key level. What do I expect...

profitalztrading

Hello traders! Here are my thoughts on CAD/JPY . Using simple price action we can see that the price just broke the strong daily resistance. What I am expecting is that price will come back to retest strong daily resistance now turned support. This could be a great opportunity to enter a long position, if support will hold the price. Please, wait for the...

profitalztrading

Hello traders, this time I came with an educational post, because on Friday I don't take any trades due to sloppy markets. Most of the times I see question like how many and what timeframes should you use when trading. Rule of three timeframes says, that we should use at least two but no more than three timeframes. Personally, I use W,D and 4h. Here is how...

profitalztrading Updated 

Hello traders! Here are my thoughts on AUD/USD. I've prepared two possible scenarios that can happen in near future. 1) As you can see, price has turned bearish on the Daily timeframe, but on the W we are still in uptrend, which means that I will be looking for long setups only. From short-term perspective price can drop to 0.73280 area, which is also 0.61 fib...

profitalztrading

Hello traders! Here are my thoughts on AUDJPY. We have a nice falling wedge formation on the daily chart forming up. I am looking for a long position once price closes above trendline on the daily chart. Wait for the confirmation before entering! 📈📉Trends: ⏳ Weekly- Bullish ⌛️ Daily- Ranging 🟣 Purple zone - Weekly key level 🔵 Blue zone - Daily key...