NZD/CAD Buy Opportunity Our market update already hit TP on NZD/CAD before with the sell position, which played out well. Now, we're shifting gears with a BUY possibility!
Entry: 0.82530
Take Profit: 0.84505
Stop Loss: 0.81089
This setup is based on a careful analysis of the current market conditions. As always, trade responsibly and manage your risk wisely! This is not financial advice.
Analyst
Shibausdt ,, tecnicall analyst 🐕From the number 663 in Shiba, we have been placed in the ascending channel, I also specified the ascending channel in (Rsi). Now we are waiting for the psychological number of 1000 for Shiba, in which Shiba has always reacted. So in the number 1000 . Maybe this will happen with a downward pullback, but it will happen very quickly, and it will continue its growth path soon, great choices always give great answers. Be profitable🌹
XAUUSD Technical Analysis 11.04.2023 1h chart– Previous Daily candle closed Bearish at 1991.100 respecting Daily Resistance formed on Thursday 6th April 2023.
– Buys on close above 1994.400 targeting 1h Resistance at 2002.000, Leaving Runners to the next 1h Resistance at 2007.900.
– Sells on close below 1987.200 targeting 1h Support at 1981.900 which is also the wick fill of the previous Daily Low, Leaving Runners to the 1h Strong Support formed at 1978.000.
– FOMC Member Harker due to speak about the economic outlook at an event hosted by Wharton Business School in Philadelphia.
GBPJPY Technical Analysis 11.04.2023 1h chart– Previous Daily candle closed strong Bullish at 165.350 breaking above the Daily Resistance formed on Wednesday 5th April 2023.
– Buys on close above 165.500 targeting 4h Resistance at 165.810, Leaving Runners to the 1h Resistance at 166.210.
– Sells on close below 165.180 targeting 1h previous Resistance formed at 164.910, Leaving Runners to the 1h Support formed at 164.670.
– Ideally is to wait for price to pullback to form Support on the lower timeframe allowing the new Daily candle to form a bottom wick before breaking the previous Daily High for more potential Buys.
4/6 Watchlist + NotesInitial Thoughts: Incredible day, markets closed friday, minimal inside day setups
SPY - Mentioned yesterday that we were bearish going into today for a number of reasons. Early on in the session we saw SPY push up slightly only to be rejected by a downward trend line created in premarket. We hit our downside target at the mid 406 level and even pushed lower than that before making an afternoon reversal. We also hit our lower trend line on the broadening formation created yesterday on the daily. Overall played out perfectly, only could have asked for more downside to 404 if anything
TOMORROW: Due to how we closed and previous daily patterns similar to the one we're in now, I am still slightly bearish going into tomorrow, but I think we need to be cautious. With this week being a 4 day trading week, and being at the beginning of a potential daily/weekly reversal point, I think we could see some consolidation just as easily as we could see more downside. Full disclosure, I am not extremely confident in us seeing more downside tomorrow, but it makes the most sense based on our situation. Ideally I would like to see a move lower to the 404 area before consolidating. OVERALL BIAS: Cautiously Bearish
Watchlist + Bias:
BABA 2-1 Daily: Slightly Bearish (Only inside day to show up on the scanner)
SQ - 3-1 Weekly: Neutral (Still has not broken out)
DOCU - 1-1-2D Weekly: Bearish (Finally broke out of inside week setup. Watching for continuation going into tomorrow and next week)
SHOP - 50% Rule Weekly: Bearish (Finally saw the downside we wanted the other day due to a failed 2U reversal today. Looking to see SHOP hit 44.01 between tomorrow and next week)
Main Watch:
SQ - Not a crazy good setup, but definitely interested with the weekly chart. We still remain within our inside week setup. I am watching tomorrow to see if we can breakout in either direction to pick up a swing position for next week. I would prefer downside due to my bias with SPY, but I will be open to playing upside as well since SQ is set up to do well in either direction. It is worth noting we made a failed 2D on the daily, which gives us a small bullish bias for tomorrow on SQ, but the past 4 days have been failed 2s, so that may be irrelevant. Entry Long: above 68.24. Upside Targets: 69.74, 70.53, 72.64. Entry Short: Under 66.62 Downside Targets: 65.81, 64.56, 63.51, 61.55
Yesterday's Main Watch:
DOCU: What a solid trade. Opened at our short entry, and then dropped steadily throughout the day until reversing with SPY. Cons ran well over 400% from entry (.21 -> 1.06 If I remember correctly). I hope you all can take this play and learn from it, specifically how powerful trades can be if you have a crazy setup like we did with the double inside week. Hope everyone was able to make some money on this one.
Watchlist Stats:
3/3 SPY predictions
3/4 Main Watch Plays
Top Winner: DOCU (400%+)
Personal Stats:
2/3 On The Week
Overall: Green
- Completely turned the week around for myself after being barely red from monday's session. I credit this to patience and discipline. Most traders would be super eager to start trading again after a losing day. Having patience and waiting for that right trade to turn things around is absolutely key to mastering emotions and being successful in trading. All it takes is 1 good trade per day. Don't overtrade (I know it is very easy to do, and I used to struggle with this), have patience, and most importantly, be comfortable with taking losses, not conditioned to taking losses.
Tomorrow will be tricky if I had to guess. Trade smart, and be careful as it is the end of the trading week. And if I am unable to make monday's watchlist until later this weekend, enjoy the holiday for those who celebrate it!
SPY PRICE ANALYSIS - ANOTHER VERY VOLATILE WEEK Hello All!
Expect some crazy volatility this week due to all the economic data thats coming out. Currently i'm only playing scalps on movements that i see. I do expect the market to go down further going into the next coming months but it will take some time- so dont over trade and end up blowing your account.
SPY THE NEXT LEG DOWN TO 360s The market is finally breaking down! We had another short entry at 405 which is discussed in my last video; if you aren’t already in a short- its best to wait for a entry. The market WILL go to 360s however your entry needs to be on point otherwise you will take a loss on any small move up on the way down!
STOCK MARKET ABOUT TO CRASH LIKE 2008!The stock market has seen a move up in the recent days and there is nothing bullish about it. inflation is sitting at 7.5% is not something to be bullish about. The will not pivot anytime soon. If you want to trade in the coming weeks; be prepared! The area to short is either current level or 406.