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The NZDUSD Continues to Dip FurtherFrom our previous analysis of this pair, we witnessed prices dip with a Bearish swing in place. With the completion of the last Bearish swing on the 1-hour chart, we are ready for the next. We can see the price begin to retrace towards our PB. When price comes into our PB, we will use our method to refine to a valid zone from which we will expect to see reversals. And when we get the reversals, we will look to enter the trade using one of the entry methods learned. The good news is, "This market has strong BEARISH potential."
Short
by PanzyPips
Can the Bulls Hold this Up Move...?We are currently seeing some bullishness on this pair with regards to the 1-hour timeframe. We have marked out our zone, as we would expect the market to retrace before moving further to create higher highs. We have the market on the 1 hour timeframe currently making a Bullish PB, and we have done a bit of trade setup, looking and waiting to catch the longs trade when it comes with a retracement into our zone. But there is one thing, and it seems to beg the question. Though our analysis are in order, there is a concern about looking to take the bullish run. The question is this: "Can the Bulls Hold this up move?" As much as I would like to hold on to the already established 1-hour bullish analysis, I am afraid I might have to think otherwise. Here is our reasoning: The market has made a bullish push, an upmove, and an impulse on the 1 hour, but this entire bullish swing on the 1 hour timeframe forms what we can call a retracement on the 4 hour timeframe. With the market already touching the 4-hour zone marked out, we can see two reasons why the market will turn bearish: the first reason is the 1-hour retracement, and the second reason is the 4-hour extension building up. Because we know that the lower timeframes move in the direction of the higher timeframes, we are expecting the 1 hour to give way to the 4 hour. And so we would hope to see prices melt as a retracement on the 1 hour towards the 1 hour zone. But in truth, that zone has only a 20% chance of holding. I its expected to be tested to put up some support , perhaps about 2 to 3 tries max before it gives way for the bears to take control of the market. If that zone holds, we might see the bulls push the market higher for a bit. This up move will either be cut short by the current 4-hour zone to go bearish, or it might clear the 4-hour zone to make a higher zone before it reverses. On the whole, we look at the market in the lower timeframes without forgetting the direction of the trend in the daily timeframe, which is still bearish.
Short
by PanzyPips
Strong Bearish MomentumOn the 4-hour chart, we witnessed yesterday how prices retraced Bullish to come into our zone. This saw the 1 hour chart hitting its target price point and proceeding all the way higher to get to our 4 hour Panzy-Pips Block (PB), as marked out on the chart. From this level, and with this look of bearishness, we expect prices to begin to melt and consequently witness a corresponding dip in prices. The market is expected to stay bearish as we target our 4-hour liquidity target at 1.20371. Because it is a 4-hour chart, we would expect a good number of swings in the lower timeframes of 1 hour and below.
Short
by PanzyPips
USDCAD Potential Selling Opportunity According to my FundamentalSell Description: Pair: USDCAD SL: 20 - 30 pips TP: 80-100 pips We have identified a potential selling opportunity in pair. The price has shown signs of bearish momentum and is currently trading below key resistance levels. Our entry point for this trade is is Shown in Picture, with a stop loss (SL) set at . This provides a risk-reward ratio of approximately 1:3,4 ensuring a favorable risk management strategy. Our take profit (TP) target is set at mentioned Area on the chart, aiming for a potential gain of 80 to 100 pips. This level aligns with previous support and offers a high probability of price reversal or further downward movement.Please note that trading involves risks, and it is essential to manage your positions carefully. Always adjust your position size according to your risk tolerance and ensure you have a clear understanding of the market conditions before entering any trades.
Short
by Fx_tradertareen
GBP/USD Forecast: Analyzing the Future OutlookOver the course of the past two weeks, the GBPUSD currency pair experienced a pronounced decline, breaching the pivotal monthly support at 1.2448. Notably, there was a subsequent rally to retest this critical level during the Friday session of the preceding week, following the initial breach observed on Thursday. In the upcoming trading week, our strategic outlook is anchored on the potential for a price resurgence, with an aim to revisit and validate the 1.2448 level before anticipating a subsequent descent, as indicated by the directional arrow.
Short
by Blackerberg
EUR/JPY Forecast: Analyzing the Future OutlookThe EURYEN demonstrated commendable adherence to our established trading range throughout the previous week. In the upcoming week, our primary focus will be on the potential for an upward rally, as denoted by the directional arrow, where a formidable resistance level resides. In the event that the price maintains its position below this resistance threshold, we anticipate a subsequent downturn, potentially leading to a descent towards the 156.86 price region.
Short
by Blackerberg
EURUSD - AnalysisObserve the current Forex analysis for EURUSD, focusing on the return towards the weekly resistance point at 1.0833. Let's closely monitor the price dynamics of EURUSD on both the daily and 15-minute charts. The price has experienced a rally, bringing it closer to the significant weekly resistance point at 1.0833. This level, ranging from 1.0833 to 1.0841, represents the weekly resistance and also corresponds to the high point reached on Friday. Our attention is drawn to the possibility of the price rallying momentarily but encountering a barrier at this intra-day resistance zone. Such an occurrence could potentially lead to a subsequent downward movement, with the aim of reaching the daily support level at 1.0778.
Short
by Blackerberg
What is the golden rule of taking profits? For trading stocks, futures, or forex, taking profits is also part of the trading process. For investors, taking profits and adhering to it during a trade is effective. When to take profits? Where is the best position for stop loss and take profit? Which strategy is more profitable? Taking profits and stop loss is one of the most important aspects of trading. If not handled properly, it could lead to losses. In previous articles, we have discussed the rule of stop loss. This chapter will discuss the rule of taking profits. Investors are advised to follow and read this article. If it is helpful, please give it a like. Thank you. Methods of taking profits Taking profits means closing the position and securing profits when the trading goal is achieved to prevent market reversal. Taking profits can be divided into static and dynamic methods. Static taking profits means setting a target for taking profits and closing the position when the target is reached. For example, if the profit expectation is 100 points and the price has risen 100 points, the position is closed to take profits. The target for taking profits is fixed and static. Dynamic taking profits means the profit target is dynamic and is held until the price meets a dynamic standard before closing the position. For example, when holding a long position and floating profits, close the position when the market price breaks the bearish level. Traders cannot know in advance where the bearish level will appear and need to monitor the market dynamics. Next, we will discuss five methods of taking profits. Method 1: Fixed point profit taking This is the simplest method of static taking profits. After entering the position, set a fixed profit space. This profit-taking method is more suitable for intraday and short-term trading. For example, after entering an intraday trading position, set a fixed profit-taking point of 50 points. Intraday trading has a relatively obvious characteristic of fluctuating trends, and market prices tend to rebound and even fluctuate repeatedly. The profits from holding positions during market rebound may be given back, so setting a fixed profit-taking point can be more advantageous during trading. In practical trading, the number of fixed stop-loss points should be set according to the volatility of different products. For products with high volatility, set a larger number of fixed stop-loss points, and for products with low volatility, set a smaller number of fixed stop-loss points. Please note that this method should not be underestimated simply because it is simple. Whether this method is useful or not depends on the specific usage environment. Method 2: Fixed profit and loss ratio take profit. This is a commonly used static take profit method in medium and short-term trading. First, let's talk about the profit and loss ratio. The ratio of the profit space of an order to the stop loss space is the profit and loss ratio. For example, if the profit is 100 points and the stop loss is 50 points, the profit and loss ratio is 2:1. Fixed profit and loss ratio means that the take profit is set according to a fixed ratio based on the stop loss space. For example, if the stop loss of an order is 100 points, setting the take profit at 100 points results in a profit and loss ratio of 1:1. Setting the take profit at 150 points results in a profit and loss ratio of 1.5:1. Setting the take profit at 200 points results in a profit and loss ratio of 2:1, and so on. The fixed profit and loss ratio method is easy to operate and highly executable. Moreover, when the market fluctuates and the stop loss space expands, the take profit space will also expand accordingly, making it very flexible. Method 3: Take profit combined with technical indicators. This is also a static take profit method. After entering an order, the take profit is set based on technical indicators. For example, setting the take profit at the level of previous highs and lows, or at the support and resistance levels of the Bollinger Bands or important moving averages, is feasible. In addition, in practical trading, it is common to enter and exit at small time frames while looking at the support and resistance levels of larger time frames. For example, entering at the 5-minute level and setting the take profit at the support and resistance level of the 1-hour chart, or entering at the hourly level and setting the take profit at the Bollinger upper and lower bands of the daily chart, is essentially a logic of "going small and looking big". Method 4: Take profit following the trend. This is a dynamic take profit mode and a trend-based take profit strategy. After entering an order, the position is held following the trend indicator, and the position is held until a reversal signal is issued, at which point the take profit is closed. Tracking with trend lines, channel lines, and turning points in the market are all common practices in daily trading. Method 5: Combination of multiple methods, batch-wise profit taking. The above four methods are the most mainstream and commonly used methods, but each method has its pros and cons. For example, the fixed profit and loss ratio method cannot hold onto trend profits, and the trend tracking method cannot make profits in volatile markets. Therefore, some clever traders combine these methods and take profits in batches. For example, after the order is entered, when the profit and loss ratio reaches 1:1, part of the position is closed, and the remaining position is exited using the trend tracking method to achieve greater profits. In practical trading, traders can combine the above profit-taking methods in different ways, such as combining the support and resistance levels of the previous high with the fixed profit and loss ratio, or combining the support and resistance levels of the previous high with the trend tracking method. After discussing these five profit-taking methods, it is only providing traders with an idea, and the specific results of practical trading must be reviewed and analyzed in combination with their own trading systems. OANDA:XAUUSD FXOPEN:XAUUSD
TVC:GOLDEducation
by Ice_and_Fire1
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