USDCHFPrice is approaching pivot level of 0.93329 where we have 100% Fibonacci extension level horizontal swing high resistance lining up. A reversal from this level might see price take support at 0.92396, which is in line with 61.8% Fibonacci retracement level horizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 0.93864, which coincides with -27.2% Fibonacci retracement level, 127.2% Fibonacci extension level . This is further supported by how price is likely to reverse off the Stochastic resistance level .
Pivot:
0.93329
Why we like it:
100% Fibonacci extension level horizontal swing high resistance
1st Support:
0.92396
Why we like it:
61.8% Fibonacci retracement level horizontal overlap support
1st Resistance:
0.93864
Why we like it:
-27.2% Fibonacci retracement level, 127.2% Fibonacci extension level
CFD
GOLD supressionStrong resistance at 1830 almost looks suppressed with how accurate that level is with consistent volume.
Not really looking for longs buying into resistance but break above here could see this wall break down and a lot of positive price action.
At the same time another rejection at this level could see another touch down to the support set around 1680.
Will reasses this trade when we are at that resistance level.
GOLD shortMetals havent been performing well recently and after the big drop a few weeks ago cementing the current trend I feel like this recovery will be short lived as we now head but the overall down trend once again.
Looking to target the previous support over the next week or 2, but if we break this trend and find support here i may bail early and look for the bull case and change in market structure if we can form a higher high on the HTF and then look for the pull back for a long entry
GOLD short term trade opTaking a position on Gold for a short term trade, broken out of the major structure after a solid bounce from the big drop a few weeks ago.
New structure forming over an important EQ level after the break out and now forming a bit of a bull flag.
Only looking for a short term trade here for now up to previous resistance.
GOLD ANALYSISGOLD broke a major down trendline
Price rebounded from uptrend line with bullish movement
Price is above the support level at 1809
Price is above HVN at level 1804 which indicates that gold is in the accumulation phase
RSI is above level 50
It's expected to target resistance level at 1860
GBP/NZD – Week 32 – Watching the support areaIn the last post for this pair (week 30) we correctly anticipated a move to the downside that would reach at least the blue trendline marked on the chart. For this week as we look at the 4h chart we give a higher probability for a move to the downside that would at least reach the support zone at 1.95500. After the move to the downside we must study the price structure to see if there will be a consolidation and continuation to the downside or a reversal to the upside. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBP/JPY – Week 32 – Mounting pressure below the resistanceIn the last post for this pair (week 30) we successfully predicted the correction that followed. The price also rebounded from the support area as forecasted. For this week, as we look on the 4h timeframe we see a consolidation that is taking place below the resistance area marked on the chart at 153,5. This structure has a higher probability of breaking to the upside in the upcoming days. If the price breaks the resistance area and reverses sharply it is a sign of a bigger correction in this area or a total reversal (low odds).
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial adice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GOLD will consolidate first before rising againIn some time, Gold will consolidate first, touch at 1754-1755, and after that it will go higher. Targeted profit at the price of 2065 (1.618 Fib Extension).
Note: Please keep in mind that no one guarantees the analysis will be 100% as expected. It all comes back to your own analysis, money management and risk management.
WTI POTENTIAL LONG SCENARIOCRUDE OIL is trading in a kind of a massive wedge
And now oil is falling down to retest the rising support and trendline around 68.00-69.00$
From the Support line expecting a local pullback
With the final target being the horizontal resistance above around 71.00 $!
Today is NON=Farm Payrolls and traders can see big movements.
If the OIl breaks the support on 68.00 , next target would e 63 $
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PMax Explorer Strategy - INDICES & METALS BacktestingThe pair and the time frame you see is the winner in the INDICES & METALS category with profit factor criteria
From 4032 results we have for this strategy :
* 1451 results with Profit Factor > 1
* 270 results with Profit Factor>1 and Sharpe Ratio>0
* 19 results with Profit Factor>1 and Sharpe Ratio>0 and Percent Profitable>50
* Best timeframe : 1m with 18 and 8m with 17 pairs
* Best pair for all categories : OANDA:BTCUSD with 28 / BINANCE:BTCUSDT with 27 timeframes
* My rating for this strategy is : 0.4712%
Check my posts for all instrument categories
1st (FOREX), 2nd(CRYPTOs) and 3rd(INDICES/METALS)
I will split each strategy backtesting in this manner
I'm talking for strategy :
PMax Explorer STRATEGY & SCREENER (by KivancOzbilgic) Oct 10, 2020
I test 29 Forex pairs from FXCM, 51 Crypto Pairs from Binance and 46 CFDs Indices and Metals from OANDA
In total 126 pairs using 32 !!! timeframes
1,2,3,4,5,6,7,8,10,12,15,17,20,24,25,30,45 minutes
1,1-1/2,2,3,4,5,6,7,8,10,12,16,20 hours
1 and 2 Days
In total 4032 results per strategy
I like profit factor and Sharpe ratio as my main guides but also percent profitable does matter
The results of forex were with 1000 contracts, default currency USD and 0.07 USD per order commission
At Cryptos i use 1 contract, default currency USD and no commission because most cryptos are spread based.
At Indices i use the same details as Crypto.
I didn't touch any settings at the strategy for all three ideas (only the backtesting starting day where i maxed out the available data)
I can't post direct links according to house rules, since i love TradingView and i play with their rules.
However my profile links and my signature may help for extensive information.
GBP/NZD – Week 30 – Watching the resistanceAfter touching the resistance area of 1.99-2.00 on multiple occasions now the price finds itself again at that important level. For this pair we see a retracement as the higher probability move. One potential target for this correction is the blue trendline marked on the chart but we will have to study the structure to see when the price will reverse. If the price consolidates a long time in this area (resistance) we may see a continuation to the upside (lower probability).
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBP/JPY – Week 30 – Incoming correction When we look at the 4h timeframe we have one move to the upside that started on the 20th of July. Now the price is near the resistance area at 153.5 and the higher probability move is a correction in this area after the price touches or breaks the resistance. This move can be a sharp correction that reaches the lower bound of the red channel marked on the chart or the support area. The lower probability move is a continuation to the upside without this correction, the price crawling up by making small consolidations.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial adice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
BTC CorrectionFrom this analysis chart, it can be seen that there is a small correction of BTC . Jump into the market if the price has touched 36025 , and then buy with a profit target of 42180 (max) within the weekly top.
Note: Please keep in mind that no one guarantees the analysis will be 100% as expected. It all comes back to your own analysis, money management and risk management.
GBPAUD short progressing 📉👊Entry details are shown on the chart.
We're only looking for green line which is take profit target.
Trade history can be seen below this trade idea too for full transparency.
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Thank you.
Darren.