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Candlestick analysis

GBPUSD-Weekly Market Analysis-Dec20,Wk1Last week we did talk about the ascending triangle and the important level for it to break and close above it's the bearish shark formation. Right now the market has retested the support level of the previous ascending triangle, yes, we can see big bearish candle but don't forget the long shadow when it approaches the support level(blue line). As long as the market didn't break and close below the support I'll be looking for buying opportunity, the first target goes to the previous high which is the bearish shark entry price. I know what you are thinking, that's a small target, well, measure the movement. It is a good 90+ pips opportunity out there.
Long
by RaynLim
AUDUSD - Trendline BreakWell, this week I'm spoilt by choice, I've all my 12-pairs lighted up for a trading opportunity, I've chosen this, AUDUSD to showcase for the week. In trading, one thing we can't be persistence about is our analysis, our view in the market. Once we have seen that the market has broken a level that it shouldn't be, we should analyse and see if there's is an opportunity to continue to trade the same direction or to reverse it if the opportunity presents itself. A break and close above the bearish trendline have turned the situation bullish, I will head in for a buying opportunity if the market didn't break and close below the trendline, even if it does, the blue box will be the last area that will be holding it for an immediate buying opportunity.
Long
by RaynLim
3
British Pound/Australian DollarThe British Pound/US Dollar is the currency pair I track & trade. However, due to this weirdo year and the craziness of the US Dollar I felt the need to add a non US Dollar currency pair to my watchlist which came down to the Euro/British Pound Vs. British Pound/Australian Dollar.. it doesn't take rocket scientist to know who won that bout. Let's go! Even though GBP/AUD been ranging since June, I am leaning more in the bull's favor, but it's important to not be very rigid on your own biases so I'll give two scenarios on what I would look for with this pair. Confluence (3 or more): 1. P.A. is working off of HTF diagonal support (outer) dating back to 2013. 2. P.A. pushed off of HTF diagonal support (inner) dating back to September 2020. 3. P.A. respected HTF liquidity zone, bull's favor. Due to the ranging I would only look from zone to zone in order to play it safe. I would look to short if there's a B.A.R. of the $1.7958-$1.8055 levels, and look to $1.7700 as a take profit. THIS IS NOT TRADING ADVICE! Also, if my analysis help YOU in any way, shape or form then please consider donating to the cause. It's appreciated.
by ChrisJTradesFX