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Confluencetrading

USD/MXN Quick Analysis (Using Supply and Demand Method)The Price is now moving up to the Supply Level as you can see in the Chart. The Market has created two Equal Highs, R1 and R2. These two Equal Highs form a Fake Resistance Level also called the Fake Out Zone line (FOZ Line). The Banks and the Big Institutions are preparing to clear the highs and the stop loss of retail traders who are in sells. A lot of traders have already joined the Buy movement. We can see the Price Compressing up to the Supply Zone. All Supply and Demand Traders know that every gap or void must be filled. We have a very Strong Confluence of Resistance in the 23.10 - 23.35 area. This Area has been tested only once, so we have a Fresh Supply level in this area which means a lot of Unfilled Sell Orders are still here. This is the Real Resistance. Our Sell Area is the Red Circle in the Chart. So we will set our Pending Order and wait for price to get there..🙏🙏 Strong Confluence of Resistance (Three Types of Resistance): Strong Verified Horizontal Resistance at 23.18 - 23.33 Pivot Point Resistance 3 (R3) at 22.97 38.2% Fibonacci Resistance Level (Daily Chart) at 23.00
Short
by Benettel
2
GOLD Clean ViewGold looks still very weak to break 1912 key level, it has to find the right liquidity needed to break thru that level. Mulitiple wicks on 1912. Trendline has been touched one more time and probablly will hold. On daily TF, not a single body candle has engulfed previous wicks. Personally expecting gold to push up through at least two previous Lower Highs and prolly form a double top before finding the right momentum to break 1912 key level and the significant trendline to look for Higher Lows to be formed on larger Time Frames.
OANDA:XAUUSDLong
by theforexdaddy
2
Bitcoin Swing ShortAfter completing a head and shoulder pattern on the daily time frame; and breaking below the neck line of the pattern and re-testing said neck line, I expect the pair to continue downward from the zone, after completing what I believe is a manipulation. Target is taken from previous resistance (which should now turn support) on weekly time frame; this zone is around the 61.8% Fibonacci retracement taken on the weekly impulse; and thus forms a good confluence area for a swing target.
BITSTAMP:BTCUSDShort
by Koyejo
USDCHF Inverted Cup&Handle check my previous ideasHi friends hit the like/follow button to motivate me to continue. Check my previous ideas to keep up to date. We went over USDJPY and EURUSD that have move similar, now USDCHF is the pair they’re opposite trend. Now this is not always 100% due to volatility and Fundamentals impact. We can observe the inverted cup and handle was respected, also we can see how the trend was opposite from EURUSD and USDJPY. We can expect further downtrend to support area. But before the handle in this case since it is inverted, can be expected to uptrend to Fibonacci levels before it pushes down. If it breaks further confirmations would be necessary to determine the next position, for now we can continue to see downtrend to support area. Be ready if the time trend bounces from support back to fibonacci levels. What are the strategies I use? A combination of strategies: Confluence; Pair Correlation; Naked Forex. The tools and indicators I used: SMAs;Pivot Standard;Fibonacci Retracement tool.
Short
by Cangaceiro
1
EURUSD Cup and Handle,Correlation USDJPYHi again, hit that like/follow button to motivate me. As we can see EURUSD is in a retracement phase(handle) confirmed downtrend. Testing support and resistance. Respecting Fibonacci golden retracement levels at 50/61%. By using confluence and pair correlation strategies, please refer to my linked USDJPY Idea to understand fully the resemblance here. This is why it is important to compare and contrast pairs. In this case EURUSD and USDJPY will move similarly while USDCHF is expected to contrast them.
by Cangaceiro
XAUUSD SHORT - Patiently and Carefully Look for EntryAfter completing an impulse and correction on the daily chart, I expect this pair to make another impulse and create a lower low. Considering that the pair is currently inside a resistance area with strong market structure and Fibonacci confluence, it is a good time to monitor price action development on lower time frames to find a good entry. A good swing target would be the 127.2% fib extension of the daily retracement. It is very important to be patient and careful with gold, it can be mercilessly manipulated .
FOREXCOM:XAUUSDShort
by Koyejo
SGDJPY SWING LONGWith this pair having completed an impulse and correction on the weekly chart, we can look forward to the next swing leg in the market; which should be an ATTEMPT by the pair to create another impulse and a higher high on the weekly chart. On the daily chart, this pair has just broken (and closed) above previous resistance; thus presenting a good opportunity to enter a long on this pair. If we get a retracement to test this area (which also has a confluence of the daily 61.8% fib, taken from the low of the circled red candle), it should act as support for the pair, then we can be searching for entries on lower time frames while the pair is in and around the area.
Long
by Koyejo
GBP AUD - update Hello traders and analysts, we have a nice update to GBP AUD - now the weekly and monthly zone has been touched and rejected - the bulls are in play now COT data: - will update when released Tuesday in the comments. Technicals: What can we see technically? - Daily bearish but breaking momentum short in the channel. - weekly range formed bettwne the red zone and green highlighted - monthly we have seen a demand formed and a great monthly bullish candle. 1.84 has now been rejected twice so the next hurdle is to overcome this. - strong Aussie and Strong GBP - bounce from the demand zone - this has now been completed - we can see the trend beginning to add long positions to correct - this has now occurred. - we have made lower lows and lower highs- showing the correction - now in a consolidation zone with some great wicks formed and a reversal to the upside - this has been boosted by GBP Tuesday as of writing. -AUD USD ranging market looking to break 0.72+ for upside strength and struggling to break. - COT report in favour of GBP now with longs added and shorts closed in the past few weeks however, risk off will shift sentiment to immediate bias. Fundamentals Aussie is a commodity currency so is highly affected with exports of natural resources, Gold , Oil , Grains, Copper etc. Victoria lockdown has caused issues for the restart of the border openings USD outlook affects the progress of strength for Australia. Coronavirus within the US sees an affect on the economy for the US as a result affects directly Australia where the index correlates. USD sees 1Trillion package for stimulus package - but no agreement GBP - lacking a trade deal can affect the GBP on the world stage - but positions are being added so this is good for the GBP gaining strength against majors, however with the Aussie struggling with Dollar correction and GBP strength in orders, the Aussie will be unfavourable in the pair. Note: Trading is about timing. so even if our stop loss gets hit on the chart. We may not have entered all together and orders can be adjusted. Trade what you see, this is purely our Bias. Why follow us? Updates on our pairs as and when we can. Swing trade out looks 10 years combined experience in capital markets simple breakdowns for beginners to advanced . KISS - keep it simple stupid. we trade purely from naked charts, less indicators - remove the noise. If you like our work, please leave a like or comment. Many thanks for your support to our existing and new followers. Much appreciated Thanks, Team Lupa.
Long
by LupaCapital