LOOKS LIKE DXY IS READY TO REVERSEIt has appeared that a left shoulder has formed, as well as a head, wait for market to break in, close, retest then take the sell opportunity..
5-0-pattern
DASHUSD - Descending Broadening Wedge On the Dash chart, a descending broadening wedge has appeared (1h-timeframe).
A descending broadening wedge is a bullish reversal pattern. The trade can be entered once the price breaks out of the pattern to the upside. The target is the height of point B.
At the moment the price is overbought when looking at the RSI. In our opinion, the price is going to drop a little bit. After that, it could be possible that the price is going to break out straight away or it might retest. This is the reason why there're two paths drawn on the chart.
See all further details on the chart.
Goodluck!
$AUDUSD - Important data this week, be prepared. $AUDUSD - Get ready...
Another week, another great opportunity for us traders to take advantage of.
This week is a very important week: CPI, FOMC & PMIs.
It was a difficult week, choppy action but that happens when we have important data this week. It's important to reserve your capital gains when market conditions are like this kangaroo or amber mode is way I describe it.
Some are stating the CPI print will be more important than FOMC - I think it will be both very important as we go towards year end we still have plenty of trading opportunities and this week is a great week.
We expect CPI to soften, 7.7% previous to 7.3% - If it comes in softer the rate hikes working, we expect 50 basis point for this meeting and the next and then we expect cuts - Now the market is forward looking we've seen risk play big part DXY declining cuts coming into play, easing less pressure dollar declines: we have Aussie, Gold and crypto escalate higher. What Powell will state will be very important in my humble opinion as we get to year end and positioning for portfolio management I have no set direction on yet to decide the movement for this week, we are within mid ranges of all assets - you could trade the data or wait and trade the after reaction.
Regarding past data on Friday we had PPI: It came stronger than expected however we had minor dip in EUR we still went to rising back, now within the mid ranges. The dollar bears are still out there but will they get hurt this week? Only time will tell.
Technically AUDUSD: We are within ranges a break to either direction, at this current moment of time we arent closing above 200ema if we are to close above bulls could gain further control up we go towards .70 areas easily - if not this rally fails and goes back towards .64 half areas
All the best for this week,
Trade Journal
(FOLLOW YOUR OWN TRADE PLAN - NOT A SIGNAL PROVIDER)
"ETH-USDT"FUTURES, SHORT POSITION"ETH-USDT" FUTURES
First of all please draw a horizontal line at the price of 1264.12
According to the analysis done by me ( technical analysis and price action), 15:55 UTC time is very sensitive and important, Because this time zone (15:55) where the lines of several patterns meet each other and also their meeting with the support line (1264.12).
And we must be ready to open a short (sell) position. Because by breaking the support line and seeing the confirmation candle, the possibility of a sharp drop is very high.
Attention plz
The main market trend is bearish
After breaking the support line, first get a confirmation candle and pay attention to the volume , then open your position
Don't forget capital management and set stop loss
And finally, this is only an analysis and suggestion, and the main decision-making responsibility is with you.
GOOD LUCK
EURJPY - Interesting Market structureOn EURJPY, price has been in a correction phase for weeks now and has created a bullish continuation pattern to resume its prior trend. We also have an engulfing candle at the 3rd touch of the trend line which is a strong confirmation for an onset of the bullish trend.
Technical analysis for AVAXThe instrument has captured inside admirable and wide consolidation. Currently the volumes are low. The breakout depends on the market background and the BTC behavior. Watch the activity on the levels only after having previous 2 touches for both cases, namely long and short.
Head and Shoulder Patter in BoashIn the price is near the neckline if it breaks, we can expect further upmove.
CADCHF - Price approaching a major support zoneCADCHF has being bearish for a while and currently approaching a support zone correctively which indicates the existence of few sellers at that level. I will be looking for a possible reversal with either a chart pattern or candlestick confirmation .
ESEA - falling wedge patternWhat we can see on the chart is a falling wedge pattern.
The price is still moving inside the pattern, once it breaks above the trendline it can be a good momentum to enter long.
Do not forget to put the stop loss under the wedge.
Target is shown on the chart.
$EURCAD - It's brewing!$EURCAD - It's brewing!
I've really enjoyed the long side of $eurcad
Technically we are making a inverse H&S
We can even go to lower time frame and see that in a perfect measure. Now when I seek to trade patterns, firstly it's important to see break out as well as a great R/R. I would prefer a pull back towards areas of: 1.36 - 1.35 half areas and then perhaps execute first position if we are to break towards upside of resistance we are currently at in GREEN I have drawn 2 target areas I will be looking to scale out in. Now that's way I trade it isn't for everyone. Stop below where the 1.32 half areas giving it enough room and if it is to hit the stop then the pattern would be invalid to me and I would then re plan this trade.
Don't forget to trade your own trade plan.
Have a great week ahead,
Trade Journal
GOLD BUYVery nice set up for gold buy now ! buy @1771 , target 1774-76 ,,,,
SL just below the channel, note- use proper money management !
you can averaging after 1 point ( max 2 times with same lot)
for prop fund total risk per attack 1%
for real ac total risk per attack 4-5 %
NIFTY50 SHORT POSITIONSoon nifty will come back to the down trend according to the harmonic patterns AB=CD and it is near resistance area enjoy
Bitcoin head and shoulders Are we seeing a possible head and shoulders forming here on the 4-hour chart for Bitcoin? This would coincide with the $9500 target and possibly a slightly lower price into the $8900 level for Bitcoin. This price action would actually bring us into this Gareth Soloway yellow trendline.
$XAU - Gold, where are you heading?$XAU - Gold, where are you heading?
Another day, another great opportunity...Precious metals within the ranges a break to either direction!
Trade Journal
XAUUSD 15MIN I tried to analyze market cycles and it seems that we are not going to have a high volatility day, but maybe something's happen in NY session!
The probability of going upward is higher in higher timeframes but maybe it's a trap!
Do not take positions until it is completely clear for you!
Thanks
