ContinuationThis is a continuation from my previous idea. If you haven't, please go read it so you understand my reasons for being bullish.
Price is now rejecting from M15 supply at the top of the range but my expectation is that it will break above it and reach the next level of supply tomorrow. This will make the M15 structure bullish and it increases the chance for a continuation towards the H4/1D weak high.
Demand Zone
Daily swing demand1D -> Even tough price has been bearish for the last couple of weeks and today had an impulsive move down, to me this is still just a pb and I'm expecting price to react to the current daily demand.
H4 -> Price is also coming very close to H4 demand, it's not my favourite zone but it's still valid, considering it was responsible for an impulsive reaction.
M15 -> There's a demand zone at the bottom of the H4. I'll either take a position from there without confirmation, or I'll wait for a reaction at the top of the zone.
Chart vs. HeadlinesLet's debunk some headlines like "The Dollar is Bearish!" and dig into the real chart dynamics. On the weekly chart, a bullish trend is evident, despite a retracement that might seem bearish. Always consider the bigger picture. The recent retracement is a mere blip compared to the overall uptrend.
🔍 Key Levels to Watch 🔍
Zoom out and observe the retest happening on the previous high. Keep a close eye on whether the market breaches 145.24. The next crucial level to watch is 152.02. Chart analysis trumps online articles. Don't just read, define your levels strategically.
💡 Daily Chart Insights 💡
Approaching the previous high on the daily chart, counter-trend traders might eye shorting opportunities. However, wait for candlestick confirmation before executing. Personally, I see a breakout trading opportunity, not an aggressive short.
📊 Four Hour Chart Dynamics 📊
New highs surpassing previous structures on the four-hour chart indicate the bullish trend persists. This trend isn't over. One hour chart mirrors this pattern—a break of prior resistance.
📚 Mastering Market Analysis 📚
If you're passionate about analyzing markets like I am, employing clear rules for buying and selling levels is vital. No guessing games. Scan the QR code for our community channel. Engage with like-minded individuals and refine your skills.
💼 Crafting Trading Strategies 💼
Returning to the weekly chart, counter-traders might spot a shorting setup at 149.28 for a Fib-3 Bat setup. On the daily chart, a crab pattern at 150.39 forms, with a Bat pattern completion at 149.16.
⚙️ Shorting Opportunities ⚙️
For those inclined towards shorting, the ABCD pattern on the four-hour chart sets a stage at 147.80. My focus? Buying opportunities. A pullback to 144.02 holds potential for a buying window.
🔎 Immediate Insights 🔎
On the one-hour chart, a closer level of interest stands at 144.46—a promising buying opportunity within the buy zone.
USDCAD potential long setup
I've spotted a demand zone for USDCAD on a H1 time frame chart. The demand level range is between 1.33687-1.33638 (very narrow, so pay attention to the spread). If the price retraces to this zone, I'll be considering a long position. My target is set at 1.3384, with a potential for a 2.9 R reward.
I plan to exit the trade if there's a 1 hour candle closing below the demand zone
EURCAD - New Breakout !Hello Traders!
On The Daily Time Frame, The EURCAD Reached a Support Level !
Currently, The Price Failed to Create new Lower Low 📉 and formed a Double Bottom Pattern !
Moreover, The Resistance Line is Broken🔥
So, I Expect a Bullish Move📈
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TARGET: 1.48350🎯
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Navigating GBP/JPY with Care and Confidence this weekA promising setup for GBP/JPY this week would be to closely monitor the potential supply levels around and keep an eye on any bearish confirmation forming in that region. Additionally, watching for any negative news releases or economic data related to both the British pound and Japanese yen could provide valuable insights into potential price movements. Remember to incorporate risk management strategies and stay adaptable to market conditions throughout the week.
15m time frame demand level crude oil
I've spotted a key demand zone for crude oil on a 15m chart. The demand level range is between 82.126-81.746. If the price retraces to this zone, I'll be considering a long position. Target for this demand level is set at 82.93, with a potential for a 2 risk/reward ratio.
I plan to exit the trade if there's a 15-minute candle closing below the demand zone
USD/BRLFOREXCOM:USDBRL price is at a major resistance zone and seems to be forming a double top on the daily time frame. Price should start heading down. Worst case it breaks the daily zone and hits the Monthly descending trendline (red). Price is currently overbought on the RSI and Bollinger Bands so there is a high probability it will go down.
FETUSDTFETUSDT is trading in bearish parallel channel and reached at very strong demand zone. In past this demand zone shown very fine bullish reaction. Currently the price is also giving respect to declining trendline. Once the price is able to break declining trendline it will be a nice bullish run.
15m time frame demand level for GoldI've spotted a key demand zone for Gold on a 15m chart. The demand level range is between 1949.615-1947.885. If the price retraces to this zone, I'll be considering a long position. My target is set at 1959.645, with a potential for a 5.1 R reward.
I plan to exit the trade if there's a 15-minute candle closing below the demand zone
CADJPY - Bearish Double TOP📉Hi Traders👋🏻
On The Daily Time Frame The CADJPY Price Reached A Resistance Level (107.400-107.812) and 61.8 fibonacci retracement level !
Currently, The Price Formed a Double Top Pattern📉
The Neckline is Broken🔥
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET: 104.950🎯
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