GBPUSD is currently in a sideways consolidation on the 1-hourly chart, presenting a potential for an expansion move or breakout in the coming week. Should the market break out to the upside, there are two potential shorting opportunities to consider. Analysis: - Sideways Consolidation: GBPUSD is in a range-bound phase on the 1-hourly chart. - Potential Breakout:...
EURUSD has an overall bearish trend. At this point, many counter-trend traders, including myself, are looking for counter-trend trading opportunities. We've had some luck in this regard. Analysis: Daily Chart: - Bullish Shark Pattern: Confirmation is formed, suggesting potential for a counter-trend move. 4-Hourly Chart: - Falling Wedge Trading Setup:...
The recent statement from Japan's Finance Minister about possibly giving up FX intervention due to its ineffectiveness, which seems to suggest acceptance of the yen's continuous weakness, directly conflicts with recent BOJ communications. Considering this, shorting GBPJPY becomes a highly volatile decision. Nonetheless, a trade is a trade. If this trade goes...
Sometimes, the classic Support and Resistance trade is more effective than Harmonic Patterns. It may seem simple, but trust me, it isn't. First, you have to plot it the right way, and even then, different analyses will view the trend differently. For example, I’ve recently got into shorting USDCAD. Key Points: - Support and Resistance: Often more reliable than...
If you're looking for a buying opportunity on GBPJPY, focus on the double bottom retest zone between 199.62 and 199.37. Overall, I maintain a bullish outlook on GBPJPY. Key Levels: - Double Bottom Retest Zone : 199.62 to 199.37 Strategy: - Buying Opportunity : Look for entry points within the double bottom retest zone between 199.62 and 199.37. - Bullish...
Like I mentioned in our weekend live session, I don't see any BOJ intervention happening soon. The earliest I’m looking is when the market reaches 158.73, with the next level at 159.66. Around 157.74 is the level I'll be looking for a buying opportunity using the existing strategy that I've used for many years. Key Levels: Potential Intervention Levels : -...
Timeframe : Weekly and 4-Hourly Charts Predicted Move : Potential Upside Breakout Analysis : On the weekly chart, GBPUSD is currently in a sideways consolidation phase. Although the pair is near the top of this range, there seems to be a tendency for the market to break towards the upside. This observation is based on my 18 years of trading experience and...
Timeframe : Weekly and 1-Hourly Charts Predicted Move: Sideways Consolidation with Specific Levels for Trading Opportunities Analysis : On the weekly chart, EURUSD is in a sideways consolidation phase and is currently at the bottom of this range. For precise entry points, I'll be closely monitoring the 1-hourly chart. Key Points: - Sideways Consolidation :...
EURUSD Bearish Trend and Bearish Bat Pattern Completion Instrument: EUR/USD Timeframe: 1-Hourly Chart Current Direction: Bearish Analysis: EUR/USD is currently exhibiting a bearish trend. While the impulse to short immediately is strong, my preferred entry level is at 169.54. This price point aligns with the completion of a bearish bat pattern on the...
For those who favor counter-trend trades or believe in a potential BOJ intervention, the Bearish Deep Gartley Pattern on the 1-hourly chart is worth your attention. 1-Hourly Chart: - Key Level: This pattern provides an excellent risk-reward ratio for shorting opportunities. Reminder: - Don’t overtrade. - Always conduct your own analysis and avoid blindly...
If you're looking at AUDCAD, the 4-hourly chart setup might seem tempting for a buying opportunity. However, I prefer the 1-hourly chart, specifically the Bullish Shark Pattern. 1-Hourly Chart: - Key Level : Ensure an MCC appears at 0.9041 before entering a buying opportunity. What's your trade plan for AUDCAD? Comment down below and share your...
For those eyeing AUDUSD, here's my take: While some might be tempted to buy, anticipating a retracement (UP) due to the recent price action, I'm not focused on buying opportunities. Instead, I have more strategic shorting setups in mind. 4-Hourly Chart: - Resistance Levels : Waiting for a retest at 0.6638 or a retest of the channel for shorting...
USDJPY is still pretty bullish, but for those looking to short, here's what I'm watching: Daily Chart: - Signal : Retest of the broken trendline - Entry : Wait for MCC 1-Hourly Chart : - Bearish Deep Gartley Pattern at 157.33 - Conservative Entry : Wait for MCC, preferably a retest on the PRZ (Potential Reversal Zone) with RSI Divergence What's your...
If you’re into support and resistance trading, GBPUSD might be worth a closer look. 1-Hourly Chart: - Support Level: 1.2704 - Resistance Level: 1.2743 Before engaging in the trade, wait for a MCC to ensure a reliable entry point. What’s your trade plan for GBPUSD? Comment down below and share your strategy! Happy trading!
Here’s a detailed look at the EURUSD across multiple timeframes: Weekly Chart: - The market is in a sideways consolidation phase. - The upper trendline has been respected, indicating a potential downside movement. Daily Chart: - Watch for a retest of the Fib-3 Bat Pattern, which could offer a prime shorting opportunity. 1-Hourly Chart: - I’m eyeing a...
I believe the BOJ conducted its second FX intervention yesterday. As the market retested the sell zone, I shorted this pair and placed Stops at 156.82, which is a good 58 pips of initial risk. Once the market reaches 155.78, I'll shift my stops to the entry-level. This would prevent any losses incurred by hectic volatile movement. If all goes well, my 1st target...
GBPAUD has piqued my interest from a mid to long-term perspective. I'm looking at two potential shorting opportunities: Key Levels: - Short Entry on Resistance Retest: 1.9212 - Bearish Channel Indication: As long as this channel isn't violated, it strengthens the bearish bias. I'll be looking for shorting opportunities on both the 4-hourly and 1-hourly charts...
A lot of traders aren't familiar with Harmonic Bands ; to be fair, they don't appear frequently. Here's what I'm looking at: AUDUSD H4 Chart: - Short Entry: 0.6666 - Long Entry: 0.6600 Target on the opposite end. What's your trade plan for AUDUSD? Share your thoughts and strategies in the comments below! Happy trading!