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BluetonaFX - GBPUSD Double Bottom Opportunity Hi Traders! There is a potential double bottom pattern forming here on the GBPUSD 1H chart. GBPUSD has had bearish momentum over the past 24 hours, and that momentum looks to have slowed down. A possible reason for this is that the market is near the 1.26909 support level, which we have highlighted on the chart. For the double bottom to form, this level must hold. There was a big price rejection yesterday at 1.28436, which we have highlighted on the chart. From looking at the price action, there was a lot of volatility during that moment, so the traders may want to test that area again. If the 1.26909 support level does not hold and there is a break below the level, the double bottom will fail, and we will look for further opportunities on the downside. This is a good risk-reward trade, as there is a lot of upside potential if entry is near the 1.26909 area. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
4
TARGET CAD/JPY Reached at 106.00 - What's next?Ascending Triangle formed on CAD/JPY, price broke out and it was a slow consolidation move. But then one week, we had strong buying and demand for the currency pair which shot it up to the Order Block. We had other indicators confirming its upside including: 7>21 Price<200 RSI>50 The target at 106.00 hit and the price continued to move up. I guess it's a market environment for trend and channel traders right now. And until there is a sideways consolidation, I'll wait for the next setup.
Long
by Timonrosso
1
BluetonaFX - USDJPY 06/06/2023 Progress Report UPDATEHi Traders! Just after two weeks, we have reached our forcasted Vector level of 142.255 on the USDJPY (PLEASE SEE LINK TO ORIGINAL IDEA BELOW). The 137.915 support area held and we got the anticipated push to 142.255. We have not been around this level for seven months, so this is a key level and we will see over the next few days how strong the resistance is here. If there is a pullback from 142.255 then we expect a possible retracement to the 140 area. However, if 142.255 breaks and continues, the bullish push the next key long term level is at 145.108 (WE HAVE THIS LEVEL IN OUR OTHER PREVIOUS IDEA LINKED BELOW). Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
4
GoldViewFX - MARKET UPDATEHey Everyone, Please see update on our 4H chart idea. We got the bounce from 1948 like we suggested yesterday but for 30 pips trailed and not the full 1963 before the drop. The drop completed the full retracement range, now also completing 1936, as the last bearish target in this structure. Price is now testing a crucial support area also inline with the channel top for a potential bounce up. A break and lock below this range will open the swing range. We will continue with our plans to buy dips using these levels for bounces, track the movement level to level and manage risk accordingly to extend the range if needed. Our long term projection still remains Bullish. BULLISH TARGETS 1963 1976 EMA5 CROSS AND LOCK ABOVE 1976 WILL OPEN 1993 - 2005 BEARISH TARGETS 1948 - DONE 1936 - DONE EMA5 CROSS AND LOCK BELOW 1936 WILL OPEN THE SWING RANGE SWING RANGE 1918 - 1899 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
11
GoldViewFX - MARKET UPDATEHey Everyone, Please see update on our 4H chart idea. Not much action in the market due to US holiday. We had some ranging movement down into the first level of bearish support at 1948, just before the retracement range. Price may find support here at this Goldturn level for the bounce up into the first Bullish target at 1963 or a break and close below to complete the full retracement drop. We will continue with our plans to buy dips using these levels for bounces, track the movement level to level and manage risk accordingly to extend the range if needed. Our long term projection still remains Bullish. BULLISH TARGETS 1963 1976 EMA5 CROSS AND LOCK ABOVE 1976 WILL OPEN 1993 - 2005 BEARISH TARGETS 1948 - DONE 1936 EMA5 CROSS AND LOCK BELOW 1936 WILL OPEN THE SWING RANGE SWING RANGE 1918 - 1899 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
4
GoldViewFX - Gold Breakout Switchover Hey Everyone, Please see our 1H chart with updated levels, targets and Goldturn channels. Market is ranging sideways and therefore the perfect time to draw both ascending and descending channels to be able to track the break out, whichever way it goes. We don't get hung up in catching the direction of the breakout but more so to be able to track it, whichever way it goes. The market closed with a retest at the descending channel top also inline with the ascending channel half line. This may provide the support for a immediate retest at 1966 once again, which is the weighted axis level that is holding resistance for the range above. A break below the current support test will open the swing range which is also inline with the descending channel half line and ascending channel bottom. These are all likely areas of re-action that we can use inline with our plans to buy dips. The Axis levels are the weighted levels and therefore stronger in using to identify the breakout and to track the switchover of the breakout after a ranging period. The retracement structure has been holding well, as support providing a nice bounce up every time, working inline with our plans to buy dips and the swing range is also tracking the channel bottom providing structural support. We remain Bullish with our next Bullish target at 1966. We will need to see EMA5 cross and lock above 1966 to open the upper bullish levels. Unless we see EMA5 lock below the retracement range this structure should hold well. A break below the retracement range and we are likely to see the swing range open up once again. We will continue with our plans to buy dips and track the movement level to level. Our long term projection still remains Bullish. BULLISH TARGETS 1966 EMA5 CROSS AND LOCK ABOVE 1966 WILL OPEN 1979 BEARISH TARGETS 1947 1937 EMA5 CROSS AND LOCK BELOW 1937 WILL OPEN THE SWING RANGE SWING RANGE 1918 - 1904 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
6
GoldViewFX - 4H CHART UPDATED LEVELS & TARGETSHey Everyone, Please see our 4H chart with updated levels and targets. Market is ranging between 1936 and 1976 support and resistance structures with another re-test at 1976 looking likely. Price has broken out of the channel and looking for a retest on the channel top for support, also inline with the retracement range. Support here and we are likely to see 1948, 1963 re-hit. A break below the retracement range will open the swing range, also inline with the channel bottom. We will continue with our plans to buy dips and track the movement level to level. Our long term projection still remains Bullish. BULLISH TARGETS 1963 1976 EMA5 CROSS AND LOCK ABOVE 1976 WILL OPEN 1993 - 2005 BEARISH TARGETS 1948 1936 EMA5 CROSS AND LOCK BELOW 1936 WILL OPEN THE SWING RANGE SWING RANGE 1918 - 1899 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
3
GoldViewFX - WEEKLY CHART UPDATEHey Everyone, This is a quick update on our weekly chart outlook and setup, we have been tracking for a while now. We stated last week the likely target drop into the retracement range for a push up. We got the perfect test into the retracement range, followed with the weekly candle nearly wicking out with the bounce up. We were able to track and trade this using our smaller timeframe ideas shared here. We are now looking for the resistance test at 1999 and we will continue to use our smaller timeframes to break down this movement to track and trade the movement. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
5
GoldViewFX - END OF WEEK UPDATEHey everyone, A piptastic finish to the week for us on the charts, with all our chart ideas playing out as analysed. Please see our 4H chart idea shared on Sunday, playing out level to level into the retracement range and then supported by the channel half-line for the perfect push up, hitting all our bullish targets. We continued with our plans to buy dips for a safe exit at 1965 to close the week - BOOOM! We will now come back Sunday with our multi timeframe analysis and trading plans for the coming week. Have a great weekend all!!! Mr Gold GoldViewFX
OANDA:XAUUSD
by Goldviewfx
8
GoldViewFX - MARKET UPDATEHey Everyone, Our plans to buy dips this week has been playing out perfectly. Once again we had another drop into the full retracement range with a break and lock below 1937, which opened the swing zone. We saw some movement into the new swing structure but still room left, as price found support at the channel top for a push up. We rode the movement up from the drop, all the way up for a clean finish to a TP target we had posted last night. We remain Bullish navigating the levels up and down buying from dips; we just need to keep in mind the range has now increased in size when managing risk. We continue to use the right setup support levels to pick the perfect entries and resistance levels for the perfect exits. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
6
BluetonaFX - USDJPY Critical Week for the US Dollar UpdateHi Traders! PLEASE SEE LINK TO ORIGINAL IDEA BELOW.  USDJPY has now broken the 140 level with momentum to reach the 141 area and has fulfilled our idea. We have also broken our bullish price channel on the chart. We have further long-term vector levels to the upside that we mentioned in our previous ideas (links also below). We do have further fundamental announcements today with the ECB's interest rate decision later today and US Retail Sales and Initial Jobless Claims so please make sure that you trade safely and responsibly. Please remember to support us by liking, following, and commenting on our posts; this helps us greatly. Thank you for your support. BluetonaFX
by BluetonaFX
2