Get started

Correctivephase

CHFJPY | Perspective for the new week | Follow-upThe price moved over 100pips in our favour since the counter-trend opportunity (see link below for reference purposes) before what appears to be a gradual change in structure that supports completion of a Reversal pattern. Recall that I warned against factors that might disrupt the previous set-up thereby giving way for a rally continuation (see my penultimate publication in the link below). Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Reversal pattern | Harmonic (Cypher) Observation: i. The Bearish run that began on the 17th of February 2021 found a Bottom @ Y116.000 and since then the price has continued to find Higher highs that culminated in a successful Breakout last week Thursday. ii. Between the 1st and 10th day of March 2021, the Key level @ Y116.850 experienced selling pressure which finally saw a Breakout with signs that a new trend might have begun! iii. In this regard, I have identified two key areas to take advantage of the new trend and this is illustrated on the chart as Buy window I & II. iv. With the present pattern @ Y117.400, we might see a dip below my key level @ Y116.850 (corrective phase) hereby transposing into a Cypher pattern before the rally begins. v. Whatever happens, anywhere above Key level shall be a good area of confirmation. Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 4 to 10 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
GBPUSD | perspective for the new weekPrice broke out of Key level @ $1.32850 to negate my previous speculation (see link below for reference purposes) to find new highs. The GBPUSD had a negative start to the trading session on Friday, doing a correction into the $1.34800 level. I am seeing this level as a temporary Demand zone that might be a good sign that an uptrend continuation is in the air! Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand Observation: i. Breakout of $1.34500 on Wednesday followed by a retest of this level points at a rally in the following week(s). ii. As my expectations of a rally grows, patience is hereby required at this juncture as it is possible that price is still going through a corrective phase which might settle further into major Demand level @ $1.33500/1.33000. iii. In this regard, the Bullish trendline shall be my yardstick for entry in the coming week as a Breakdown of this line shall put all buying intentions on hold for an appropriate window to go long. Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:5 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
1
EURNZD long term correction; dailyThese are possible future moves of EURNZD. Don't forget that corrective structures are very complex and they can develops in various types of patterns, so i don't expect market goes completely in the way i anticipate, but maybe this is the best labeling based on price action we have right now. This long term analysis is not a trade setup. It is just an analysis giving me most probable direction of market and I will trade this in the lower time frames in the anticipated direction, only when i see a reasonable trade with good R/R
by ard3413