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Confluencetrading

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
USDJPY Cup&Handle updateOANDA:USDJPY Hit the like/follow button to show support my friends. This is just am update, please read the full analysis. If you’re following along check my full analysis I’ll link it to this one, the handle is respecting the downtrend as you see it hit the 38% of the Fibonacci retracement level. Lets see if this will aim for resistance or will give a deeper pullback. List of my confirmations: Price correlation is being respected: Nikkei; EURUSD; and USDCHF. Confluence zones along: SMAs; Trendlines; Fibonacci; Pivot Standards; Candlesticks; Support and Resistance.
Long
by Cangaceiro
USDJPY Cup and Handle Swing TradeHello again don’t forget to hit the like/follow button to show support and motivate me to continue and check my previous ideas. Cup & Handle- the handle and highlighted price rejection from Resistance key level, show possible downtrend to Fibonacci retracement levels .This downtrend can take from days to weeks before moving up, so patience. Once that pullback is completed we can expect uptrend towards resistance levels again since this pattern is considered bullish. It is best to wait for confirmation before taking any direction here. It is also important to observe that the simple moving averages 21/50/200 are below the candlesticks, showing another sign of possible uptrend. Currency correlated pairs to compare and contrast: Nikkei; EURUSD; USDCHF. Trade responsibly and remember this is for educational purposes and not financial advice.
Long
by Cangaceiro
BTCUSD Dump 500 + PipsCOINBASE:BTCUSD If you followed my last idea you'd have sold at price rejection w/ confirmation and also looked for pullback buy zone, leave a like and happy trading. You might ask why the Neutral outlook? Well because you can get paid both ways following the market trend, sell at price rejection with confirmation and buy on pull back buy zone. Don't be greedy and trail your Stop Loss/Close partial lots to guarantee profit. Trade responsibly and this idea is for educational purposes not financial advice.
BITSTAMP:BTCUSD
by Cangaceiro
1
Silver moving in the shadows again... OANDA:XAGUSD Hello friends, just a quick outlook on silver for the current situation don't forget to like/follow this idea and check my previous ones. I have followed silver since it was at around 17, it definitely paid off to research it. Since I am researching price correlation, Silver is a perfect example for Gold. One thing you may notice with silver is that it certainly has cleaner moves than his older sibling gold. Do not under estimate silver as it moves quietly away from the hype. So many people were asleep on it and missed the huge jump from 17 to just shy of 30! Now as we play catch-up let's wait for the best position possible before doing anything. Trade responsibly and as always this is for educational purposes not financial advice.
OANDA:XAGUSDLong
by Cangaceiro
Gold continues to shake the marketHello friends, make sure to hit the like/follow button to show support on my analysis. If you have followed along Gold has respected my previous analysis. We went from 1800 all the way to 2075, planning accordingly to exit and not get into stop hunts with either trailed Stop loss or hedging positions. According wit confluence zones along other methods golds has behaved accordingly, it has retraced and respected Fibonacci levels on 4 HR chart it has hit 2014-2018 lows and retraced back to 2030-40s. If you pull the daily/weekly/monthly charts you will notice we are overall bullish still. This downtrend movement is how gold behaves before shooting up. I wont be surprised to see 1980-40s again before heading to new higher highs, as of now gold has failed to break resistance on 2075/2065/2036. I believe we need a stronger pullback again, as USA continues to pump the DXY past few days to make the economy look stable, gold has taken the opportunity to downtrend. If you pull the DXY chart you will notice support 92.60 and support at 94. zones, it is now sitting at pivot point. Which could mean anytime it can continue its overall downtrend. I expect the dollar to continue to fight due to election/re-election times, than fail again so we can predict gold to continue its bullish move then. Meanwhile we will continue ranging, just make sure you are in the right side of the market not against it. Fundamentals at big play here with Gold, make sure to monitor that as we are facing Stimulus/ Covid-19 to continue to drive the market. Long term buy, short term sell and like always trade accordingly this is educational not financial advice. OANDA:XAUUSD
OANDA:XAUUSDLong
by Cangaceiro
GbpJpy Idea Last month strong Bullish candle. Engulfing 4 previous months. Currently trading below 200 weekly structure. has broke @ 135.00 Level. Broke weekly level. uptrend Weekly. 2nd time it has visited this level. Looking to retest weekly before we enter Long. Or Break resistance level and wait for a retest of that to enter long. Daily trading above 200,50,20 EMA's. Crossover Daily. 1 hr counter trendline broke .1 hr 3rd touch of the trendline we will look to buy. Fib level 62% lines up with previous zone. will revisit shortly
Long
by Eric_Cee
UsdJpy Short Confluence tradesLast month, Strong bearish candle. Weekly trading below 200,50.20 EMA. Last week closed Below monthly level 106.00. Daily tweezer tops formed at Monthly 106.00 which indicates a reversal. Anytime there is a break of structure we will retest structure. On a 4hr we have now broke previous Low @ 105.600. Respecting all EMA's on a 1hr time frame. Fibonacci Levels line up with EMA'S. Tweezer top (reversal signal) forming @ our entry level 105.600 . Waiting for 1hr candle to close either tweezer tops or bearish engulfing. will Revisit shortly. Alerts have been set.
Short
by Eric_Cee
3
08.04.20 London. Usd Short , Long GbpUsd/Jpy price is around 106.00 range. Broke Monthly Level and finally came back to revisit that level. Previous Daily closed as rejection. Forecast is Usd weakness & yen strength. Rejection of 71% Fib Level. EMA 20 resistance on a Daily Time Frame. Closed below 20 EMA on a lower time frame. Counter trendline 1 hr? Us News at 5:15 am PST Non-farm Payroll. News 7 & 7:30 Am PST. GbpUsd - Bullish momentum. Broke thru monthly Level . Came back to revisit. Looking at GBP strength since US is weak against yen. Looking to buy. Structure is retesting broken key level. Daily closed doji. indecision. Waiting to break structure on a lower time frame. waiting for counter trend line to break 1hr. Daily EMA cross-over. Holding above 20 EMA as resistance. Will revisit pair . I have some alerts on price.
Short
by Eric_Cee
XAUUSD Testing 1902 can we break it?If you checked my previous ideas I have been following this closely and was breakthrough 1889-1890 resistance. Now 1902 is the next target inbound to 1918 zone. Make sure to switch between all time frames for more stronger zones, 1H-4H and Daily, Overall Gold is Bullish. If the Fundamentals allow it, there wont be any retracement unless the good news: Covid-19 cases decreasing or vaccine, Dollar gains strength. That will cause a bearish breakout and we can test strong support 1883 again or further down. There will be important fundamentals next week so monitor that closely for an opportunity to catch a decent retracement Opportunity Meanwhile 1890 has shown decent support the confluence zones with: Fib,support and resistance, candlesticks. Lets see where gold takes us this next week, 1920 is definitely soon. If there is a retracement or any more bad news as the Feds worldwide continue to Print Money this will continue to boost a bullish move. The headlines concerning China and USA are important to follow
OANDA:XAUUSDLong
by Cangaceiro
1
Gold hunted Bears and Bull along the way. Are we there yet? As I mentioned, a stop hunt and classic pullback scenario occurred. Now we retraced to 38% on the Fibonacci and key levels were tested all the way from 1981 to 1900s. As it stands gold will continue to test resistance at 1941-61, before any further action can be taken. Always wait for confirmation my friends, do not allow FOMO (Fear of Missing Out) to blow your account. Last correction we had was a long time ago, all indicators were overbought. Classic herd mentality was Buy!!!! this is why it is important to wait for conformation to avoid stop hunt. Be flexible with your market direction as it can change anytime (hedging for example, sell at price rejection with confirmation). Now lets stick with the plan and trade play by play using confirmation as we cross the zones I noted in the chart. A combination of Fundamentals/Market Sentiment/ Technical analysis is how I prefer to make my decisions. There were several fundamentals at play during the pullback, make sure to keep up with them. Leave a like and follow me as this is a big support and motivation to continue. Good Luck this week and stay Golden!
OANDA:XAUUSDLong
by Cangaceiro