GBPCAD - Break Of Long Term Trend!Analysis:
We were looking at this pair not that long ago for long setups, however we didn't get this in the end and price actually broke below our level that we were interested in. Looking at current price action we've now got a bearish outlook on this pair for multiple reasons. As we saw price break our level we are not longer in an upwards trend, meaning that we don't want to be looking for longs but instead we want to be looking for short setups. We're at a very key level which has been tested multiple times and we expect that it will be respected again this time for resistance. We've got added confluences as well which give us more confidence in this setup. Firstly the 50% fib retracement level is at our area which we expect sellers to push price down from so this goes in our favour. Another confluence that we have is the downwards trendline that is present. We expect that price will bounce off of this trendline and continue its move to the downside. Our final technical added confluence we have is the break of a long term upwards trendline. This shows us that the long term trend has been broken and we expect to see a change in the market momentum which goes with our bearish thesis. Fundamentally the GBP is stronger then the CAD so this doesn't go in our favour but like we've said before we expect that oil prices will rise again soon and with this the CAD will also rise. Canada is the 4th largest oil distributer in the world so if oil prices rise so will the CAD. This is why we don't really mind that currently the GBP is stronger then the CAD because we think that this will soon change.
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Stay Safe - JPI
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Breakoftrendline
EURJPY - BREAK OF STRUCTURE 📉The EURJPY price is in Daily Resistance Level and 50 Fibonacci level🧐
the ascending channel is broken ✔ the key level is broken & retested ✔
so, i predict a bearish move 📉 Break of Structure 📉
TARGET: 135.046 🎯
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Potential Shark Forming 🦈🦈US30 - Nice looking shark forming that lands in a very nice PRZ. We've had multiple BOS price is currently pulling back from small LQ zone, once price breaks current level It should drop nicely towards the D point.
** Disclaimer ***
These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
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"BUY THE BOTTOM, SELL THE TOP" Could this be the 100% run?
- Double Bottom off Daily Support
- Daily Bullish Divergence in play
- MACD Cross and starting to spread
- Long term downtrend about to be tested
- Gap to be filled between $.16-.175
- EMA 10/20 starting to turn
- Targets set for Equilibriums
- Risk/Reward sitting at 4:1
Once again major shifts are underway in multiple sectors. I truly believe Renewable Companies will call 'trump''s soon and begin to lay down their hand.
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
GBPUSD (more detailed analysis)FX:GBPUSD
W1:
We were in an uptrend (red trendline )
which we broke and now acts as a resistance level
D1:
Again we were in an uptrend (orange line) ..again broken acting now as resistance
We also have a descending triangle which is about to break
and a DOUBLE TOP pattern (still neckline not broken)
H4:
We have a triple top (at the above green zone)
Price is currently ranging between the 2 green zones (top & bottom)
So if price breaks down (the bottom green zone) ...we will have a very big shorting opportunity with a lot of pips to be made (of course after a retest of the zone)
if it doesn't...then we buy and set our TP at the above green zone (tested 3 times & trendline confluent zone) FX:GBPUSD
AUDUSD SHORT Bullish Flag BrokenI am shorting AUDUSD for the following reasons:
It has broken a the ascending bullish flag it was on.
It is simple price action.
If the candle were to go up pass the trend line it would invalidate my trade activating my Stop Loss and would wait for a retest to go long.