I hope you’re all doing well and staying sharp in the markets. I wanted to share an interesting setup I’ve been eyeing on GBPUSD that could be a great opportunity for both new and experienced traders alike. What’s Happening? - Weekly Chart: - GBPUSD has finally broken out from its sideways consolidation, which is super exciting! This breakout could mean we’re...
If you are looking to long EURUSD just like me, the 4-hourly chart presents a promising Bullish Shark buying opportunity. Here's how we can approach it: Bullish Shark Pattern: - Pattern Completion Level: 1.0820 - Strategy: Wait for a Magic Candle Confirmation at 1.0820 before entering a long position. - Stop-Loss: Place a stop-loss just below the pattern...
4-Hour Time Frame Analysis: Higher Highs (HH) and Higher Lows (HL): The chart displays a clear upward trend with higher highs and higher lows. This indicates a bullish market structure. Ascending Channel: The price is moving within an ascending channel, showing a steady increase in value. Key Levels: 1-Hour LQZ / Reversal: 2429.940 4-Hour LQZ / Reversal Point:...
In the daily chart of the SPY, a potential double top pattern is forming, signaling a bearish reversal. The key resistance level for this pattern is around 550.12, where the price has failed to break through on two recent occasions, marked by red arrows. This level is critical for traders to watch as it represents a significant hurdle for any upward momentum. If...
RANGE BOX: When the price is in a ranging market look for date of when the price was last in its range. Example above shows we had the range, a breakout above and then a break back inside the range. Draw a box around the range and then identify the buy area and the sell area. This stops you from trading in the middle of the range and getting chopped up by the...
USDCAD has a classic support and resistance line on the 1-hourly chart. Here are two approaches depending on your trading style. Classic Support and Resistance Levels: Shorting Opportunity: - Resistance Level: 1.3691 - Strategy: Look for a shorting opportunity at this resistance level. - Stop-Loss: Place a stop-loss just above the resistance. - Target: Aim...
A complicated trading strategy doesn't guarantee profits. Sometimes, a simple trading strategy works best. Here are two straightforward approaches I have for the NZDUSD trade. Strategy: 1. Retest of Resistance at 0.6096: - Setup: Watch for a retest of the resistance level at 0.6096. - Entry: Enter a short position on confirmation of resistance holding. -...
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:...
Daily Chart: On the daily chart, MU is trading within an ascending channel, a bullish indicator suggesting an uptrend continuation. The recent price action has tested the lower boundary of this channel, around 133.30, a critical support level that was a previous resistance, as evidenced by the red arrows – another example of the Principle of Polarity. The price...
HDFCBANK is now at the support level and forming a bullish engulfing pattern at the daily time frame and also a fundamentally strong pick with decent profit and revenue growth we can expect good upside movement from this level Target and stop loss on the chart.
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...
NASDAQ:AMGN shows a buyback run followed by a sell day that was instigated by market makers as buyers quickly disappeared. Remember that corporate buybacks are done by bank floor traders to add stock to their inventory so they won't take profits at the peak of the run; those are other market participants, such as market makers. NYSE:KO is another example of a...
Hourly Chart: Key Support and Previous Top The hourly chart for NVDA emphasizes the significance of the support level at 125.59. This level was a previous top, and now it is acting as a support, following the Principle of Polarity in Technical Analysis. The chart shows that the previous top, which is now support, has been tested a few times, reinforcing its...
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...
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...