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BluetonaFX - GBPUSD Double Top PatternHi Traders! There is a potential double-top pattern on the GBPUSD 3H chart around the new monthly high. Price Action 📊 After the break above the previous monthly high at 1.24286, the market traded with further momentum and reached the new monthly high at 1.25058, then had a pullback to the neckline support at 1.23740. The market is now re-testing 1.25058, and if there is a hold here with no further bullish momentum, the pattern will become a double top and will likely target the neckline support again. Fundamental Analysis 📰 We have BoE Governor Bailey speaking later, so we must be wary. Depending on what he says, the market could react very aggressively.   Support 📉 1.23740: NECKLINE SUPPORT Resistance 📈 1.25058: MONTHLY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
CAD/CHF carnage not over yet next target 0.6050The currency pair has been falling since 6 June 2023... It's gone on a strong downtrend channel, which has not been good for the Canadian Dollar. Lately it's formed not one but TWO bearish chart patterns. M Formation and Inv C&H And the price has broken below both the neckline and brim level. This means, there is more downside to come with a target of 0.6050. Other indicators confirm the bearish momentum 200>21>7 - Bear market RSI<50 Target 0.6050
Short
by Timonrosso
EURUSD ANAYLYSIS 16/11/2023I'm sorry I'm unable to make a video today. I'm currently down with ear pain, catarrh, cough and sore throat, and they're killing my voice. For today, I'm not expecting much. The price appears to be rejecting the weekly 50% fib level I have been talking about. This means there's a possibility for a move downwards today too. On the 4h timeframe, the price looks like it's respecting the ascending channel I added to the chart in yesterday's video. This is in alignment with the weekly fib level rejection. It also supports a move lower. From the 1h timeframe, We can see that the price is already creating lower lows and lower highs which signifies a down trend. This simply means all the relevant timeframes are in alignment for a move downwards, so I'll be looking for shorting opportunities on this pair today. However, we already know that it's not wise to just take a trade from anywhere so the big question is what level will I be looking out for. I will be looking out for the 1.08500 level. That is the nearest psychological level to the price and it is currently trading below that level. What I will be doing now is just to wait for the price to get to the 1.08500 level. When it gets there, I will expect to see the price show me an entry reason to this pair. If the price does that, I'll take a short trade. But if the price just breaks higher and keeps moving, then there's no trading opportunity. Always apply proper risk management when trading.
by Francisbluepipsfx
📈 AUDCAD Long Opportunity: Waiting for ConfirmationHello fellow traders, Today, we're keeping a close eye on a potential long opportunity in the FX:AUDCAD currency pair. Let's dive into the analysis: 📈 Upward Trend: The overall trend for this pair is in an upward direction, and it has been moving within an ascending parallel channel. 🛠️ Support Break: However, a noteworthy event has occurred - the support within the parallel channel has been breached. 📉 Lower Lows: Prior to the support break, AUDCAD was forming lower lows, signaling a potential shift. 🤔 Assessing the Situation: Now, there's a support level beneath the ascending channel, creating a possibility for a fakeout before a potential upward move. ❗ Caution: It's essential to acknowledge the risk involved. There's only a limited chance of success as this level has been previously tested. 💡 Wait for Confirmation: We should exercise patience and await a confirmation candle before making a decision. This is a critical step in risk management. 📌 Stay Informed: I'll keep you posted on whether it's a viable entry or not once we have the confirmation candle. Stay tuned! Until we meet again, trade wisely. Thanks & regards, Alpha Trading Station 🌟
Long
by AlphaTradingStation
4
$DXY Analysis ''Are we going after the sellside liquidity?''Hi guys, this time i bring you all a Dollar analysis, where my direction is bearish if the yields really throw it down with the SMT Divergence, I'm bearish because we closed under the Weekly Inverted Fair Value Gap and also we have an OB which is really strong even though it has a lot of liquidity in the upper part, but still, im expecting to see DXY going after the PWL mainly, and then if it really plays out slowly then we could go after those EQLs and the Weekly BISI where we would bounce off back again after the 50% of the Monthly FVG above.
TVC:DXYShort
by zeratrading
BluetonaFX - GBPUSD 61.8 Fibonacci LONG to Trendline ResistanceHi Traders! GBPUSD has found some short-term support at the 61.8 Fibonnaci Retracement Area, and there are opportunities for long entries towards the trend line resistance. Price Action 📊 The 61.8 Fibonacci area looks quite strong at the moment; the bears seem to have exhausted at this level. Although we must be careful here as the market is still under the 20 EMA, trades should be kept very tight in case of any continuation to the downside. Fundamental Analysis 📰 There were positive fugures out of the UK this morning with better than expected GDP m/m and preliminary GDP q/q figures, which will most likely increase positivity on the pound.   Support 📉 1.22128: PREVIOUS DAY'S LOW Resistance 📈 1.22580: PREVIOUS DAY'S HIGH 1.22658: TRENDLINE RESISTANCE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
1
USD/CHF Sell Opportunity - Swing Trade - 0.90000 Key ResistanceI have just taken a sell position on USD/CHF expecting some strong selling pressure over the next coming weeks. From a technical perspective we can see price has come into 0.90000 level which is a key area of daily / weekly resistance where in the past the market has reacted to favourably. I am expecting again a strong reaction from this area. I will not be going into the entry confirmation for this trade. Stoploss is going to be at the high of the current daily candle. Targets have been outlined within the screenshot provided.
Short
by FXEntries
EUR/NZD Sells Active - Swing Trade - Key Resistance 1.80500I have just taken a sell position on EUR/NZD expecting some good selling pressure over the next couple of weeks. From a technical perspective we can see price has come into the 1.08500 level which is a key area of daily/weekly resistance where in the past the market has reacted from favourably. I am expecting again a strong reaction from this area. I will not be going into the entry confirmation for this trade idea. Stoploss is going to be at the high of the current daily candle. Targets have been outlined within the screenshot provided.
Short
by FXEntries
2
BluetonaFX - EURUSD SHORT to previous Range ZoneHi Traders! EURUSD has broken the previous range zone resistance, and there is a possibility of a support break back into the range zone. Price Action 📊 The market's price action on the 4H chart has been very bullish with the range zone momentum break; however, the price seems to have exhausted and the market is now pulling back. We are now looking for a price break and a close below 1.06946 for confirmation of a complete pullback. Fundamental Analysis 📰 Euro zone borrowing costs rose on Monday as investors took a breather after pricing in last week up to 100 basis points of European Central Bank rate cuts by December 2024, sending the benchmark Bund yield to a seven-week low. Support 📉 1.06946: PREVIOUS RANGE ZONE RESISTANCE Resistance 📈 1.07564: WEEKLY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX BluetonaFX
Short
by BluetonaFX
1
GBPJPY: Thoughts and Analysis pre-BOE.Today's focus: GBPJPY Pattern – Ascending Triangle Pattern Support – 181.16 - 178.17 Resistance – 184.12 - 183.65 - 186.50 Hi, and thanks for checking out today's update. Today, we are looking at the GBPJPY on the daily chart. For now, we remain bullish on this pair, but as we have discussed in today's video analysis, we want to see a new weekly high to show buyers are in control after Tuesday's breakout. The worry is that buyer momentum might not be as strong as first thought, and we could see selling continue to grind down Tuesday's move. What will the BOE bring to the table? Rates are forecast to remain on hold, but what will we see in the statement? Will it support buyers or add to the indecision? Good trading.
Long
by Eightcap
GOLD ROUTE MAP & TRADING PLANS FOR THE WEEK AHEADHey Everyone, Please see our updated 1h chart levels and targets for the coming week. We had a continuation of the strong move up last week with price finishing of with testing weighted resistance at 1904 and then support at 1979. EMA5 cross above 1904 will open the levels and range above to track and trade or a cross and lock below 1979 will open the retracement range at 1959 -1950 correctional retest zone. A break below the retracement range will see a test to the swing range for a bounce and a failure to lock below the retracement range will see a bounce up from this level. We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and the catch bounces up. We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we share every week last 18 months, you can see how effectively they can be used to trade with or against short terms swings and trends. BULLISH TARGETS 1987 EMA5 CROSS AND LOCK ABOVE 1987 WILL OPEN THE FOLLOWING BULLISH TARGET 1994 2005 EMA5 CROSS AND LOCK ABOVE 2005 WILL OPEN 2018 AN 2032 BEARISH TARGETS 1979 EMA5 CROSS AND LOCK BELOW 1979 WILL OPEN THE RETRACEMENT RANGE RETRACEMENT RANGE 1959 1950 EMA5 CROSS AND LOCK BELOW 1950 WILL OPEN THE SWING RANGE RANGE SWING RANGE 1913 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
24