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Confluence

#EUR/GBP AnalysisThe Banks and Institutions have placed Four Sell Orders in the past as we can see in the chart. There is a Strong Confluence of Resistance in the 0.8960 - 0.8975 area. Are the Banks preparing to place another Sell Order?? Price has been in a Descending Channel since 27th July. There is a Strong Confluence of Resistance around 0.8960. This is the Sweet Spot..🤗🤗 We have Four (4) types of resistance in this area. -38.2% Fibonacci Resistance at 0.8960 -Weak Horizontal Resistance at 0.8960 - 0.8975 -Pivot Point Resistance (R1) at 0.8960 -Trendline Resistance at 0.8970 Trade Idea First Move (Buy) Buy at 0.8900 and Join the Bulls in the retracement move to retest the Top of the Descending Channel. Target TP is 0.8970 Second Move (Sell) (Main Plan) This is my main plan and this should have the biggest reward/profit. After the Second Move, I will wait for price to get to the Sweet Spot at 0.8960 and then Sell. Target TP1 is at 0.8938 and Target TP2 is at 0.8900. Looking to sell when price gets to the Sweet Spot on the Chart with Final Target TP 0.8880 (Strong Support and Monthly Level) As usual we enter all trades with a tight stop loss to reduce the risk, in case the market changes direction. Cheers!!
by Benettel
2
USD/JPY Trade ReviewAs a Trader. I try to find the areas and key levels where the Institutions and the Big Players are planning their trades. It is not an easy job. I use Supply and Demand, Trend Analysis and Confluence to try to find those areas. If you can find those areas, you can make huge profits because you are on the right side of the Market. I posted the USD/JPY Analysis last week Tuesday. I was waiting for the Banks to put their next sell orders. If you looked at the chart, The Banks placed their 4th Sell Order on Friday at the Sweet Spot. Exactly as I predicted. All my three moves were 100% accurate and in profits..First move (Sell), Second move (Buy), Third move (Sell)..The third move was the main move..150 pips in profit!! Did you take this trade? I'm sure you are wondering if i can see the future..how did I manage to catch all the three moves? lol 😂😂😂 I cannot be right all the time..sometimes my analysis can be wrong, just like the NZD/JPY Analysis i posted last week. This is why you should always use a Stop loss. The banks wanted to put their 4th Sell Order in NZD/JPY, but the US Fed news on Thursday made them to change their mind and NZD/JPY went up. So i had to change my direction to BUY. This is the USD/JPY Trade (After).
Short
by Benettel
Did The Unsustainable EUR/USD Growth Come To An End?EUR/USD has made an incredible run over the last two months. It is extremely rare to see such an increase in the forex markets. However, all things must come to an end. Trading forex, the trend has always been much more important than any other market. And here we can observe resistance to our uptrend. There is a confluence of three important things that I will be discussing here: 1. Horizontal Resistance We can see a resistance block that has created a lot of friction for EUR/USD. So far there were multiple attempts around the 1.19 zone, but none of them successfully made it through 2. H&S There is a head and shoulders pattern forming, which is another bearish sign. We are currently moving towards the right shoulder, which means that we might see a temporary increase but ultimately we expect a drop. 3. Trend Reversal If you zoom out we can see the big orange line which shows that the trend has been going upwards consistently but now is making a turn downwards. Also the RSI shows a similar pattern (I took a larger RSI length of 30 to show that) where it now goes into a negative momentum of <50 RSI. All of these combined give me confidence that the price will drop, and caused me to give the 'short' recommendation. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Short
by Trading-Guru
6
USD/JPY AnalysisPrice has been in a Descending Channel since February this year (7 months now). The medium-term outlook for the US Dollar is poor and Safe-haven currencies like JPY are still preferred. There is a Strong Confluence of Resistance at the 106.60 - 107.40 area. This is the Sweet Spot..🤗🤗 We have Four (4) types of resistance in this area. -Round Number Resistance at 107 -Horizontal Resistance at 107.30 -61.8% Fibonacci Resistance at 106.60 -Trendline Resistance at 107.30 Trade Idea First Move (Sell) Looking to sell when price gets to the Tested Horizontal Resistance on the Chart with Target TP at 106 Second Move (Buy) Join the Bulls in the retracement move to retest the 107 level. Target TP is 106.75 Third Move (Sell) (Main Plan) This is my main plan and this should have the biggest reward/profit. After the Second Move, I will wait for price to get to the Sweet Spot at 106.85 and then Sell. Target TP1 is at 105.20 and Target TP2 is at 103.10 As usual we enter all trades with a tight stop loss to reduce the risk. Cheers!!
by Benettel
EUR/AUD AnalysisPrice has been moving in an Ascending Triangle Pattern for sometime now. There is major resistance at 1.6540 - 1.6557. A lot of Sellers are in this area. Bulls are pushing the price upward (Bullish Compression but now Price is below the Daily Pivot Point which makes this pair bearish. We have a confluence of support at 1.6440 which is holding the price. We have Three types of Support at 1.6440. Trendline support, Pivot Point Support and Horizontal Support. There are two Trade Ideas. Trade Idea First Idea (Buy) This is my main plan. I'm Looking to buy at 1.6440 with Target TP1 at 1.6480 and Target TP2 at 1.6500. Second Idea (Sell) But If the weak support at 1.6414 is broken, I will prepare to sell this pair with First Target TP1 at 1.6400 and Target TP2 at 1.6390
Long
by Benettel
XAU/USD (GOLD) LONGDaily timeframe is bullish as we didn't break our previous low 4H timeframe is bullish as we didn't break our previous low and made a new high Based on the 4H chart, Gold will come down to retrace our Fib level around 50-61.80% where we also have a resistance/support level (look left) So personally I would wait for a 4H buy signal confirmation around that area Once we have a confluence area of support being formed+ golden fib level+ a candlestick pattern (preferably bullish engulfing) Only then I would take buys TP1: -27% fib level TP2: -61.80% fib level S/L: Below the previous swing level *Bare in mind that any news or fundamentals can change the bias at any time, so manage your risk accordingly
OANDA:XAUUSDLong
by YerwantKansabedian
BTCUSD Outlook last idea hit 500+ pips Hit the like/ follow button to motivate me to continue; last time we hit 500+ Pips First scenario: Update on this, I circled the possible price rejection scenario that can lead into a sale. Second scenario is a buy position from pullback zone near 50% on Fibonacci. Third scenario would be if prices break resistance and continue to uptrend, keep in mind for a false break which leads to the first scenario. Why I chose neutral? Because we can get paid Both ways if you trade with the trend and not against it. Check my correlation map, let me know your thoughts.
BITSTAMP:BTCUSD
by Cangaceiro
2
XAUUSD updateHit that like/follow to motivate me to continue. Not much has changed since last update, if you were tracking this set up you would notice 50% golden retracement zone was respected. Meanwhile buying on dips and exiting until a better long term buy position. Probably won’t see it until elections or Covid vaccine, I’d like to see 1700s again. Fundamentals playing big time here: “Buffett’s decision to completely close Berkshire’s position on Goldman Sachs follows the bank’s second-ever highest quarterly trading revenue of $13.3 billion. It suggests Buffett is not comfortable in betting big on the banking industry in the long-term. Instead, Buffett purchased a single stock in Barrick Gold, whose stock has reflected that of gold in most of 2020. The firm is a gold mining company based in Canada, which recorded a 45% increase year-to-date. Following Berkshire’s investment, the stock rose by 8.11% in after-hours trading.” Search for an article titled “Warren Buffett Buying Gold May Push Bitcoin to $50K, Investors Say“ read up and take notes. Check my correlation map and keep up. Every dip with confirmation is an opportunity to buy. This article is for educational purposes and not financial advice. Do your own diligence and research.
TVC:GOLDLong
by Cangaceiro
13
GBPJPY: Bounce or Break?Daily Time Frame: Reading price action we can see that GPBJPY has been bullish since price created a double bottom at 112.000 key support. As price approached 139-140.000 key resistance, we can see that price started to slow down by showing long wicks to the upside and indecision candles. After the double daily pinbars created last week, price reacted to the downside. Right now, we have a potential bounce or break situation! 4hr Time Frame: Scaling down we can see price is creating double bottom at previous swing lows. If price manages to hold above this zone 137.750, we can potentially see short term buys back to previous swing highs at 139.000 and if we break and retest above, we can potentially see price go even higher. However, if it breaks below 137.750, we can anticipate short term pullbacks to previous swing highs at 136.500. Due to the uncertainty of market fluidity, risk management is highly recommended.
by ChartAddicts