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Confluence

AUD/JPY - 200EMA + Support Bounce Confluence Hello Traders!, Hope we've had a good start to the week! On to our mid-week analysis I've come across some AUD strength on 4H & D1 timeframe, so I've been searching for a set-up on the 1H timeframe and see confluence on the AUDJPY pair What Is The Market Telling Us? Market is showing bullish sentiment after 2nd rejection off 74.50 support level 50SMA shows bullish correction phase could be ending as it is sloping downwards (bullish signal) Price has repsected 200EMA as it has aligned with 74.50 support and shown strong rejection to the upside D1 Timeframe shows a clear break & retest of this 74.50 support, indicating further bullish momentum When Should We Enter? I'm anticipating some consolidation as the AUD is weak on smaller timeframes such as 1H & lower Waiting on a potential double bottom to form or a breakout of my consolidation area before looking for BUYS Look for BUYS once there is a confirmed double bottom or confirmation of a breakout of the consoldiation area
Long
by forexwithfred
XAG USD - Short term sell, long term buyXAG - we have seen a great impulse and made our way up to the supply at 0.786 zone Where on the daily time frame we have a good order block which was a great indicator for a supply. We will await for the price to test the upper supply as previous high had wicks - so a possible manipulation stop hunt move may occurs. We will short as a hedge - due to long positions, but have a good momentum here to make a nice retracement to 16.6 or 15.5-57 zone where a fresh demand awaits. Let us know your thoughts. Keep in monday is a low volume day for many vacations around the world. Thanks, Lupa
FOREXCOM:XAGUSDShort
by LupaCapital
AUDUSD Short. Lots of confluenceBig downtrend instigated by Supply level, circled on the right. Down to a demand level, which started new uptrend with Higher Highs and Higher Lows consecutively. Buying power has now pushed back into the supply level, unable to form a Higher High. It has now formed a double top and begun its downward phase. Just touching the 20ma aswell, and the MACD is indicating down. Lots of signals to sell this IMO. I'd be interested to hear any counter arguments. Cheers. Jordan.
Short
by MSI_JAL26