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GBPJPY Analysis: Sideways Bounce Trading Opportunity- Trade Strategy: Support and Resistance Trading - Key Levels: Resistance at 192.75, Support at 190.37 - Profit Potential: 238 pips (~2,380 USD/lot) Analysis: - Trade Strategy: Sideways Bounce Trading - Key Levels: Identified resistance at 192.75 and support at 190.37 - Profit Potential: Significant profit potential of 238 pips (~2,380 USD/lot) between support and resistance levels Trade Plan: - Selling Opportunity: Consider shorting near resistance level at 192.75 - Buying Opportunity: Look for buying entries near support level at 190.37 - Profit Potential: Utilize the range between support and resistance for profit-taking opportunities Insights: The GBPJPY presents a lucrative sideways bounce trading opportunity for support and resistance traders. With well-defined levels at resistance (192.75) and support (190.37), traders can capitalize on potential price movements within this range. Exercise caution and implement effective risk management strategies. 📈📉 Seize the opportunity presented by the GBPJPY's sideways movement, leveraging support and resistance levels for profitable trading outcomes!
by RaynLim
2
USDJPY Analysis: Bullish Bias Despite Market Volatility- Market Sentiment: Bullish Bias - Weekly Chart Analysis: Violation of Recent Resistance Indicates Strength - Trade Plan: Buying Opportunities Favored over Shorting Analysis: - Market Sentiment: Maintains Bullish Bias on US Dollar, despite market volatility - Weekly Chart Analysis: Notable violation of recent resistance level on the USDJPY Weekly chart - Implications: Market speculation regarding potential BOJ intervention in FX Market - Trade Plan: Prefers buying opportunities over shorting due to pair's independent behavior Trade Plan: - Buying Opportunities: Look for buying opportunities at support levels (e.g., 154.27, 154.12, 153.89) - Support and Resistance Trading: Shorting opportunity at 154.70 on the 1-hourly chart, although not actively pursued Insights: Maintaining a bullish bias on USDJPY despite market volatility, with a focus on buying opportunities over shorting. Preference for buying entries at support levels, while remaining cautious of resistance levels for potential shorting opportunities. Exercise caution and adaptability in response to the pair's independent behavior. 📈📉 Remain vigilant and adaptable in navigating the USDJPY market, prioritizing risk management and flexibility in trade execution!
Long
by RaynLim
USD strength on Fear surrounding Israel Airstrikes 🗒️Hello traders.. Unfortunately, as War Conflict continues in the Middle east, the USD is feeding on the Fear and Uncertainty by acting as a safe haven during the final Asian session of the week. Earlier & During NY today, roughly 20 minutes before NYSE open, at price 1.06638, I created an update to our previous EurUsd Analysis. I mentioned that price may instead be retracing back towards 1.06345. The reasons were clean traffic to the left on the 1hr/4hr, the bearish 4hr candle close(that engulfed the 3 previous 4hr candles), 1hr resistance zone 1.06855 was respected during London Open, and most importantly perhaps was that we created a bearish scenario for a selloff prior to it occuring--> price may close below 1.0669 1hr support zone & do a retest before heading down. This is exactly the scenario that played out. Now here we find oursleves back at the lows of structure and the weekly candle is about break even. No news for the remianing sessions. Anticpating some clean price action to end the week.. Where? Bears need to get past the daily support level at 1.06184 and I dont see that happening tbh bc no red folder data. I can see us ranging and being choppy on this friday so beware. We may increase back to 1.0605 1hr resistance zone for a bullish scenario
by ShrewdCatfx
1
Gold stuggles at the Highs of the weekly range 2,393 🪙Hello traders.. gold has been making all time highs. The last all time high was created with consumer sentiment news that miss forecast for the USD last friday. Since then we've been going sideways and are currently in a 4hr range between 2,393 and 2,360. The weekly candle is bullish & the last 2 daily candles have closed bearish. The 1hr candle is currently bearish during Thursday NYSE as price appears to be rejecting the Daily resistance (2,383) once more. We may retrace back to the bottom of the range at 2,360
FOREXCOM:XAUUSDShort
by ShrewdCatfx
Are Eur/Usd Bulls done yet? 📰Hello traders.. we have another analysis here outlining potential scenarios for intra-day trading EurUsd. Look for 1hr candle closures outside 1.06855 1hr resistance zone and 1.0669 1hr support zone. Look at those ranges we could potentially trade .. up to 1.0712 or if we go down then 1.06345. We have no major news releases left this week except for unemployment claims in the next session.. forecasted to increase slightly and I don't expect any major volatility from this... if anything maybe boost in the direction of the preceding trend leading up to it. I'm looking at higher prices for the next sessions as 1 I made a long analysis on Sunday and we are up since then.. 2 the low of the week coincided with the fed speech on tuesday's NY session.. 3 the daily candle just closed strongly bullish for EurUsd with a wick to fill & bullish momentum. 4 Yes stock markets are getting beat up, signaliing risk-off USD strength sentiment but bond yields on the 10 year were up like 3.5% on the week and are now up 1% as we've had some very strong bullish momentum the past few weeks.
Long
by ShrewdCatfx
Change in Sentiment? 😐 EurUsdHello Traders.. EurUsd just dropped off last week. Those market participants who caught this massive selloff may be thinking of taking some chips off the table. This coincides with a bullish trend in bond yields and the S&P futures wasting no time heading to the upside to begin the week. The Iran and Israel conflict adds a layer of complexity to this new week of money movement. In the short term I am looking to the upside on EurUsd as the new weeks kicks off. The previous weekly candle closed with a 14 pips bottom wick and a 195 pips body. Some exhaustion from sellers may cause the buyers to take over to begin the week here for EU. My short-term targets for the next sessions are 1.06840. We may recieve a pullback to consolidate and retest 1.06325 as well prior to more buying pressure on EU. Caution, this is a countertrend analysis and should be taken with a grain of salt. Not Financial advice, just for general information and educational purposes only.
Long
by ShrewdCatfx
AUDUSD Analysis: Bullish Shark Pattern- Trade Strategy: Bullish Shark Pattern - Key Level: 0.6454 (Retest Level) - Challenge: Strong Bearish Movement Analysis: - Importance: Highlights the difficulty of trading a Bullish Shark Pattern amid strong bearish pressure - Technical Analysis: Identifies a Bullish Shark Pattern on the AUDUSD chart - Challenge: Requires a 3-bar reversal and candlestick confirmation for a viable buying opportunity Trade Plan: - Entry: Consider a conservative entry at the retest level of 0.6454 - Confirmation: Wait for a 3-bar reversal and candlestick pattern confirmation before entering - Risk Management: Implement effective risk management techniques to protect against potential losses Insights: Trading the Bullish Shark Pattern on AUDUSD requires caution due to the strong bearish movement. Conservative traders should wait for confirmation signals before entering the market, prioritizing risk management to mitigate potential losses. 📈🦈 Exercise patience and diligence when trading the Bullish Shark Pattern on AUDUSD!
Long
by RaynLim
NZDJPY Analysis: Bullish Combo Trade SetupTrade Strategy: Combo Trade (Bullish Deep Gartley + Bullish Shark) Key Levels: - Bullish Deep Gartley Pattern: 4-hourly chart - Bullish Shark Pattern: 1-hourly chart - Trading Zone: Coincides with Bullish Shark completion Analysis: - Importance: Utilizes a combo trade strategy for enhanced risk management and profit potential - Technical Analysis: Identifies a Bullish Deep Gartley Pattern on the 4-hourly chart and a Bullish Shark Pattern on the 1-hourly chart - Trade Management: Enables a reduction in stop loss and potential expansion of profit targets Trade Plan: - Entry: Consider entering at the confluence of the Bullish Deep Gartley completion and the Bullish Shark completion within the trading zone - Risk Management: Utilize effective risk management techniques to reduce stop loss and protect profits - Profit Taking: Extend profit targets based on the combo trade setup and trading zone alignment Insights: The Bullish Combo Trade Setup combines two harmonic patterns, providing an opportunity for enhanced risk management and profit potential. Traders can capitalize on the confluence of patterns to optimize their trading strategy. 📈🦈 Keep an eye on NZDJPY for potential bullish movements based on the Bullish Combo Trade Setup!
Long
by RaynLim
USDJPY Analysis: Bullish Flag Pattern PotentialTrade Strategy: Bullish Flag Pattern Key Levels: - Shorting Opportunity: 153.26 - Buying Opportunity: 152.84 Analysis: - Importance: Identifies a potential Bullish Flag Pattern setup - Technical Analysis: Signals a possible continuation of the bullish trend - Fundamental Analysis: Supports the bullish bias for USDJPY Trade Plan: - Shorting Opportunity: Consider shorting at 153.26 with candlestick pattern confirmation and RSI Divergence - Buying Opportunity: Look for buy entries near 152.84, targeting beyond the resistance line at 153.26 Insights: The USDJPY chart shows signs of a Bullish Flag Pattern formation, indicating a potential bullish continuation. Traders can watch for opportunities to short or buy based on the identified key levels. 📈📉 Keep an eye on USDJPY for trading opportunities based on the Bullish Flag Pattern setup!
Long
by RaynLim
Bitcoin Analysis: Waiting for Confirmation- Trade Strategy: Bearish Deep Gartley - Timeframe: 4-hourly chart Analysis: - Importance: Emphasizes the need for confirmation before entering a trade Trade Plan: - Entry Condition: Wait for candlestick confirmation - Confirmation Sign: Look for a Magic Candle indicating a qualifying trading setup - Engagement: Engage the trade only upon confirmation Insights: Trading requires plotting and planning a setup, followed by confirmation before entry. This cautious approach is favored by seasoned traders. 📉 Remember to exercise patience and diligence in waiting for confirmation before executing trades!
BITSTAMP:BTCUSDShort
by RaynLim
AUDUSD Analysis: Support and Resistance Trade- Trade Strategy: Support and Resistance - Key Levels: Resistance at 0.6624, Support at 0.6482 - Profit Potential: 142 pips Analysis: - Importance: Emphasizes the need to accurately assess profit potential Trade Plan: - Long Opportunity: Look for buy entries near Support (0.6482) - Short Opportunity: Consider shorting near Resistance (0.6624) - Risk Management: Implement effective risk management techniques Share Your Thoughts: How do you plan to utilize the support and resistance levels in AUDUSD? Share your insights below! 📈 Remember to trade responsibly and prioritize risk management in your strategy!
by RaynLim
USDJPY Analysis: Bearish Fib-3 Bat Retest Analysis: - Trading Setup: Bearish Fib-3 Bat Retest - Entry Zone: Identified at Bearish Bat Retest or Key Resistance Zone - Signal Confirmation: Supported by RSI Divergence - Trading Expectation: Expect potential stop-outs on lower time frames Trade Plan: - Short Opportunity: Aggressive traders may consider shorting USDJPY at the identified retest zone - Risk Management: Plan trades in advance and adhere to rules that invalidate the setup Your Thoughts? Are you considering a short position on USDJPY? Share your insights and trade plans in the comments below! 📉 Remember to trade responsibly and manage your risks effectively! Trading involves inherent risks and requires careful analysis.
Short
by RaynLim
GBPUSD Analysis: Support and Resistance Strategy- Trade Strategy: Support and Resistance - Support Level: 1.2595 - Resistance Level: 1.2656 - Potential Profit: 61 pips Analysis: - Support Level: Identified at 1.2595 - Resistance Level: Seen at 1.2656 - Strategy: Utilizing support and resistance levels for trading opportunities Trade Plan: - Buy Opportunity: Upon bounce off the support level at 1.2595 - Sell Opportunity: Near the resistance level at 1.2656 - Potential Profit: Targeting 61 pips based on support and resistance strategy Your Thoughts? What are your thoughts on utilizing support and resistance levels for trading? Share your insights and trade plans in the comments below! 👍 Like if you agree that support and resistance strategy can be profitable! Remember to conduct your own analysis and trade responsibly. Trading involves risks.
Long
by RaynLim
EURUSD Analysis: Buying Opportunity Identified- Trade Bias: Bullish - Entry Point: Retest of support at 1.0809 - Target: First target set at 1.0869 - Risk Management: Shift stops to entry at first target level Analysis: - Support Level: Identified at 1.0809 - First Target: Set at 1.0869 - Risk Management: Stop-loss to be shifted to entry point upon reaching first target Trade Plan: - Entry upon retest of support at 1.0809 - First target at 1.0869, with stops shifted to entry point - Utilize proactive risk management to safeguard profits Your Thoughts? What are your thoughts on this buying opportunity for EURUSD? Share your insights and trade plans in the comments below! 👍 Like if you found this analysis helpful! Remember to conduct your own analysis and trade responsibly. Trading involves risks.
Long
by RaynLim
1
Optimistic Market on remarks by Fed Chair, J Powell ♦️The Market is Flying with Optimism after ADP data was better than Forecasted, Services data missed forecasts but Fed Chair Jerome Powell has said that he does not think that inflation is reversing higher. The monthly candle has flipped bullish along with the Weekly candle as price has done a complete 180 from our initial selloff early in the week. Yes, we dropped to begin the month but it was the first day of the month and each monthly candle has a top and bottom wick. The tuesday daily candle closed back above the weekly level 1.0765. The wednesday daily candle dropped slightly and retested 1.0765 prior to blasting to outer space. That is one mighty candle and trading against itis not impossible but will require extra monitoring. We observed some very nice volatility today as we completely blew through the daily resistance zone 1.079 and are currrently testing daily resistance level 1.08372. The asian session 4hr candle closed above this daily level 1.08372 and we may keep flying . If not, and we come back down to earth, then I anticipate a retest of 1Hr support zone 1.0833 prior to more significant buying pressure. London may just shoot up to the next 4hr zone then pullback as we transition into New York Open is another scenario that could play out. We may observe some volatile ranging prior to NFP on Friday. It's important to look left to see what zones are most relevant for the new days trading. the prices I like for the upcoming sessions include 1.08429 1hr zone, 1.08524 4hr resistance zone, and 1.08330 1hr support zone.. safe trading
Long
by ShrewdCatfx
ADANI POWER - Swing TRADE IdeaThe stock is in uptrend in all Higher time frames. The stock has been in good consolidation for 12 weeks. Downside wicks in the last 3 weeks indicate good buying coming in. The last week candle seems to be an indecision candle post diminishing selling pressure and buying stepping in. The lower time frame price actions such as Daily and 75 mins confirm the upside price momentum. My SL and targets as mentioned in chart. I would plan a wide SL of 12% and target of 22% trailing. Target 1 - 591 ALL Time high.
NSE:ADANIPOWERLong
by Rugminik
Fomo Liquidity Pullback 🤐Anticipating a pullback with London session to clear Fomo liquidity. Depending on the amount, we may observe a pullback to 1.07435 4hr Resistance zone. If the market is extra stubborn then we may see a more sustained pullback to 1.075 area. Manufacturing data during NY session today surprised to the upside and beat the forecast creating a dramatic selloff on EurUsd. Not surprised for us here at ShrewdCatFx since we have been outlining the Market sentiment surrounding USD with hot labor market and increasing inflation readings last month of March. Good manufacturing data was just gasoline on the already hot USD. On another note, it's the beginning of the week still.. it's pretty early in the week and we've already observed some great volatility.. I believe we may observe some rversion to the mean for EurUsd and London will cause some pullback volatility to gather liquidity and plus it's only Monday. We still have ADP and NFP which will be a good excuse for more volatility.. so in the meantime we may mess around and range or pullback.. if not then I may be wrong and our next 4hr zone 1.07265 and 1.07105 are our next short targets for the upcoming sessions which has USD job openings news which is forecasted to decrease slightly across the previous data point which lines up with some at least short term EUR strength.. safe trading
Long
by ShrewdCatfx
2
USDJPY Analysis: Shorting Opportunity Ahead- Timeframe: Weekly chart shows RSI Divergence - Trade Bias: Shorting opportunities favored Analysis: - Weekly Chart: RSI Divergence signals potential reversal - 4-Hourly Chart: Waiting for retest of previous resistance at 151.74 for short entry - Combo Trade Strategy: Stretching targets for lower risk and higher returns Combo Trade Strategy Explained: - Definition: Trade management system to extend targets for enhanced risk-reward ratio - Benefits: Lower risk exposure, higher potential returns Trade Plan: - Shorting opportunities identified on USDJPY - Entry upon retest of 151.74 resistance level on 4-hourly chart - Utilize combo trade strategy for optimized risk management and profitability Additional Insights: - Trading strategy not limited to shorting USDJPY; open to opportunities aligning with trading strategy - Flexibility in trading approach across multiple currency pairs Final Thoughts: - Market dynamics are not constrained by directional movements of specific currency pairs - Focus on trading opportunities presented by price action and technical indicators - Adaptability and versatility are key to successful trading in dynamic market conditions 💡 Your Thoughts? What are your views on the potential shorting opportunity on USDJPY? Share your insights and trading strategies in the comments below! 👍 Like if you appreciate this analysis! Remember, always conduct your own analysis and manage risk responsibly. Trading involves risks.
Short
by RaynLim
GBPUSD Update: Potential Bearish Flag Trading Setup IdentifiedTrade Setup: - Entry: Sell at retest of trendline - Target: Extended towards Bullish Butterfly Pattern completion zone - Trade Management: Utilizing upsize trade strategy Analysis: While many analysts see consolidation, I've identified a potential Bearish Flag trading setup on GBPUSD. The series of lower highs on the 4-hourly chart indicates a possible continuation of the bearish trend. I'm waiting for a retest on the trendline to execute a short position on GBPUSD. Using my trade management system, I plan to implement an upsize trade strategy to extend the target towards the completion zone of the Bullish Butterfly Pattern. Trade Management: - Upsize Trades: Leveraging trade management system for increased position size. - Entry: Selling at the retest of the trendline. - Targets: Extending targets towards the completion zone of the Bullish Butterfly Pattern. Risk Management: - Prioritize risk management to safeguard capital. - Adjust position sizes according to risk tolerance and trading strategy. Your Thoughts? Do you also see potential for a Bearish Flag setup on GBPUSD? Share your insights and trading strategies in the comments below! 👍 Like if you found this update helpful! Remember to conduct your own analysis before making any trading decisions. Trading involves risk.
Short
by RaynLim
EUR/USD: A special Place in the Market Good day fellow traders, EUR/USD is in a very special place, we over the last 259 day have made a triangle on the weekly chart an currently sit on the APEX of a breakout favoring a strong dollar. One must wait for confirmation of a break out below the lower level of the triangle. The target for a move would be October 4th, 2023 low. There is potential for a reversal here, a tag of the upper level of the triangle would confirm this. For those who are unfamiliar with triangle and the trading rules that govern them. Let me make it simple or put it in term of ThePipAssassin! Triangle Trading Rules are as follows: 1.) Must be contained in a range, that is getting smaller on each leg. (Squeezing) 2.) Must have only 5 touches of Support and Resistance for trend continuation. 3.) 6 touch and/or legs and we are going to breakout in that direction forming a triangle reversal.....
by ThePipAssassin
5
CADJPY Update: Buying Opportunity IdentifiedTrade Setup: Pair: CADJPY Entry: Buy Limit at 111.16 Initial Stop-Loss: 110.84 Risk Exposure: 32 pips Analysis: Earlier, we discussed the potential buying opportunity on CADJPY, and now we have our candlestick confirmation. As a risk-conscious trader, I'm waiting for a retracement before entering the market. Trade Management: - Buy Limit: Set at 111.16 to enter the market at a favorable price. - Stop-Loss: Positioned at 110.84 to manage risk exposure. - Risk Comparison: By using a Buy Limit, I'm limiting my risk to 32 pips, compared to traders entering at the current market price, who face 48 pips of risk. Risk Management: - Always prioritize risk management to protect capital. - Adjust position sizes to align with risk tolerance and trading strategy. Your Thoughts? Are you also eyeing CADJPY for a buying opportunity? Share your insights and trading strategies in the comments below! 👍 Like if you found this update helpful! Stay tuned for more trade ideas and analysis. Trading involves risk, so be sure to conduct your own analysis before making any decisions.
Long
by RaynLim
The Great Wall of 1.0805 Daily Level 🐼Enough to Stop the Risk-Off Sentiment? Daily Level 1.0805 may act as a temporary support level and we may observe a bounce and retracement early in the week here. During the first session of the week, Asian has observed some nice volatility off this Daily support level created on March 1st of this Month. 18 pips bounce already and I anticpate that by the end of New York session we will observe some sort of dead cat bounce after the freefall drop from the prior week. Target for a retracemnet is 1.08279 4hr zone. Retracements are a healthy part of a trending market but we don't have to bounce necessarily. We may very well just cntinue to drop towards our next siginifcant level and clear a 40 pips range down to Weekly Support level 1.0768. Intro and monthly timeframe 0:0 Weekly timeframe 2:13 3:52 daily timframe 6:29 4hr timeframe 7:49 1hr timeframe
by ShrewdCatfx
Bitcoin Analysis: Potential Resistance AheadOverview: Bitcoin (BTC/USD) is approaching a key resistance level at $72,295, which could impact its near-term price action. Here's a breakdown of the current analysis and potential trading opportunities. Technical Analysis: - Resistance Level: Bitcoin is approaching a significant resistance level at $72,295. - 4-Hourly Chart: A close above this level could indicate further upside potential, with the next resistance at $73,785. - Buying Opportunities: Potential buying opportunities exist at $67,923 and $65,244, where price action may pause or reverse. Trade Strategy: - Resistance Breakout: If Bitcoin closes above $72,295, it could signal a bullish continuation, with targets towards $73,785 and beyond. - Buying Zones: Look for buying opportunities at $67,923 and $65,244, with confirmation from candlestick patterns indicating a potential reversal or pause in the downtrend. Risk Management: - Set stop-loss orders below key support levels to manage risk. - Adjust position sizes according to risk tolerance and trading strategy. Your Opinion Matters! What's your take on Bitcoin? Do you anticipate an upward or downward movement? Share your thoughts in the comments below! 👍 Like if you found this analysis helpful! Follow for more updates on Bitcoin and other cryptocurrencies! Remember to perform your own analysis before making any trading decisions.
BITSTAMP:BTCUSDShort
by RaynLim