Get started

Forexeducation

USD/CAD High probability short!!!TOP DOWN ANALYSIS WEEKLY TIMEFRAME It has been an exciting time! we have see quite a rally to the upside, creating "higher highs" and "high lows" .But recently we have seen price creating a high low perfectly on the golden fib level 61.8% but lacked momentum to push it more high to the required target level 1.4000. so price drop 3 times to retest the demand level and price seems to range in between 1.33500-- 1.3000.But still our bias is still on the upside on weekly DAILY TIMEFRAME if we look at market structure we see market respecting "lower high " at 1.34300 and ''lower low'' at 1.30150 which we can see price retracing at 78.6% to the golden supply level around 1.33500. PAY ATTENTION TO THE PSYCHOLOGICAL LEVEL(SUPPLY LEVEL) we see a lot of sellers at the level and rejection .this giving us more confidence for a potential short H4 and H1 TIMEFRAME all you have to look at is break of structure and how it is formed and how volume is flowing at those key level, wait for a potential rejection or wicks on the psychological level 1.33500 and i highly suggest proper risk management. this is one factor that separates retail trader from institution traders Target 1-1.32000 Target 2-1.31100 target 3-1.30500 Happy trading and thanks for your support
Short
by ShinForex1
2
EURNZD– Sellers are working on potencial sell because...EURNZD– Sellers are working on potencial sell because... Trend: Strong Sell Support/Resistance R3: 1.73495 R2: 1.72749 R1: 1.72124 S1: 1.71437 S2: 1.70602 S3: 1.69815 S4: 1.68599 Price action Sellers are working on potencial sell because of weak eur currency on the other side. Sellers has to break S1 and then will be even more stronger then, they are now. Nzd currency is same showing good power from overall perspective, which made this currency pair more attractive to trade. Potencial trade idea Bulls targets: T1: 1.72749 T2: 1.73495 Bears targets: T1: 1.70602 T2: 1.69815 T3: 1.68599 NOTE – We are trading EURNZD via the preferred trading setups ELITEFXACADEMY Disclamer1 : We have to wait for a currency pair to trade after news are reliased. This might be a short correction, or price will give us moving dirrection after news are reliased. Disclaimer2: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Education
by EliteFxAcademy
GBP/USD consolidate in the triangle. Waiting for a big burst!Today our focus Shifts to the Pound. As you can see GBP/USD is moving in a bearish price channel since the end of October. Now the price also consolidate in the triangle, formed on 4-hour chart. At the same time the pair is at critical point struggling around 1.2845. Because the area of 1.2835 - 1.2848 is a dense cluster of levels including the Bollinger Bands 4-hour middle line, the Simple Moving Average 100 on M15 timeframe, the M15 200 SMA, the 1-hour 50 SMA, the 4-hour 10 EMA and the Fibonacci 38.2% on the daily chart. If the price broke below the triangle, we can see the bears to test their next target at 1.2837 before potential further rebound to be seen. On the upside, if the bulls make a clear break above the triangle, the price can test the upper trend line of the bearish channel around 1.2920 before to extend the rally up to psychological 1.3000 level. Fundamentally, take in mind that today is another busy day ahead on the data front. Key stats include October retail sales figures that will influence the Pound. Disappointing numbers would fuel further speculation of a near-term BoE rate cut. The Pound has stood up against quite dire data this week, supported by the general election opinion polls. It’s unlikely that the Pound would be able to stomach dire numbers today, however. What is your trade here?
by ForexTrendline
USD/JPY Four Support Lines and Something Else?!The US dollar has initially tried to rally during the trading session on Wednesday but then broke down towards the 200-day EMA. At that point, it’s likely that the US Dollar trying to find support and the market could explode to the upside with some kind of “risk on” type of situation. Beyond that, there are a whole host of issues to think that the market may struggle to break above the 50% Fibonacci retracement level (on the fall from 114.55 to 106.41). At this point, the market can break above that level 109.50, then it’s likely that we could see a significant move higher. That being the case though, we would need to clear the 110 level to have the signal that we are going much higher. All things being equal, looking at the 50-day EMA sloping higher and reaching towards the 200-day EMA, it shows signs that we could continue to go higher, as this is a major longer-term “buy-and-hold” signal. This is the favorable case for us until the 108.64 support holds. You can see on the chart why this area is so key. Consider also the nonsense coming out of the United States Congress will of course cause some issues later in the day, just as Jerome Powell talking well. Keep an eye on U.S. Treasury yields too. What do you think?
Long
by ForexTrendline
Will GBP/USD manage to stay above 1.28?GBP/USD dropped slightly last week as consolidation from 1.3012 extended. Today the pound remained stable against the greenback after data showing that the U.K. avoided a recession in the third quarter, with the economy growing 0.3% following a 0.2% contraction in the 2nd quarter. But the economy did contract by 0.1% in September and annual growth was just 1.0% in the three months to September, the lowest rate since the first quarter of 2010. Initial bias remains neutral first and deeper fall cannot be ruled out. Our preference Short positions below 1.2800 with targets at 1.2765 in extension. Stop-loss is seen in the $1.2820-$1.2840 area. Technical indicators and the crossing of the 50-day and 20-day moving averages point to the strong downside momentum that does not appear to have been exhausted. The $1.2700 area is the next intraday target for the bears. But the downside pressure could be limited there. We suspect potential exists toward the lower end of the recent range found near $1.2600 - 1.2585. This area corresponds to a 38.2% Fibo retracement objective (on the rally from 1.1958 to 1.3012), the 200-day and 50-day moving averages. But keep in mind that as long as this key support area holds, the long-term bullish views are still the favored case. However, firm break of 1.2582 will turn focus back to 1.1946 low.
Short
by ForexTrendline