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XAUUSD 4hour Analysis June 5th, 2021Gold Bearish idea Weekly Trend: Bullish Daily Trend: Bearish 4Hour Trend: Neutral Trade scenario 1: We are still looking bearish on the daily timeframe but we can see the 4hour timeframe is clearly consolidating. We do not trade consolidation so we will have to wait for a break. Ideally, price action breaks bearish and we can spot clear lower highs to enter short on. Continue looking for breaks of support followed by lower high formation. Trade scenario 2: For us to consider gold bullish again we would need to see a break above 1870.00 with strong bullish characteristics from price action.
FX_IDC:XAUUSDShort
by ForexLeague
1
EURJPY 4hour Analysis June 5th, 2022EURJPY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: We are extremely bullish on EJ once again and we do have daily structure that formed near 134.300. This could be the rally to new highs & our -27% fib level. This is a big if, so to be safe want to exclusively enter long scenarios on 4hour structure forming higher lows. Trade scenario 2: For us to consider EJ bearish again we would need to see a break below 137.000 with lower highs below.
Long
by ForexLeague
1
USDJPY 4hour Analysis June 5th, 2022USDJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: All timeframes are back to bullish on UJ as we saw a massive rally last week up to our 131.000 resistance level. Ideally, we can spot a reversal here and ride price action to lower support levels. The problem with UJ at the moment is that the daily timeframe is beyond overextended. We desperately need structure formation for the daily which is all the way down near 125.000 support… a long way away. Trade scenario 2: I wouldn’t recommend any long scenarios until we spot daily structure.
Short
by ForexLeague
AUDJPY 4hour Analysis June 5th, 2022AUDJPY Neutral idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: All timeframes are back to bullish as we saw a massive rally last week all the way up to 95.000 resistance. From here we’re expecting some sort of reaction but we are far from any trade scenarios. For us to consider long scenarios further on AJ we need to see structure first. Look for a retrace and higher low formation above 92.850 support. Ideally we can retrace, spot some consolidation and catch a clear continuation from price action. Trade scenario 2: For us to consider AJ for shorts we need to see a strong bearish trend present itself. We will entertain short scenarios once we break below 92.850 and spot some structure in the form of a lower high below. Look to target lower toward key support levels.
by ForexLeague
AUDUSD 4hour Analysis June 5th, 2022AUDUSD Neutral Idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bullish Trade scenario 1: The 4hour timeframe on AU is still looking bullish while the higher timeframes are still technically bearish. We are at a key resistance level around 0.72500 so we will look for reactions going forward. For us to continue bullish we would need to see a break above 0.72500 with a confirmed higher low above. Look to target higher toward 0.74000 Trade scenario 2: For us to consider AU for short scenarios we would first need to see a break of this 4hour bullish channel. Look for price action to break lower and form new structure below 0.72000. Continue looking for shorts as price action develops. Consider only entries on lower highs.
by ForexLeague
DXY (USD Index) Daily Analysis June 5th, 2022 DXY Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: Looking bearish still on the 4hour timeframe and waiting for reactions near 103.000. If we are to continue bearish on this timeframe we need to see a lower high confirm and follow through with good conviction. Trade scenario 2: If we are to consider DXY bullish again we would need to see a break back above 103.000 with structure above.
TVC:DXYShort
by ForexLeague
1