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XAUUSD 4hour Analysis October 24th, 2021Gold Bullish idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bullish Trade scenario 1: Gold is looking very bullish on the 4hour and just made an attempt to break 1800.00 which is moments from confirming. How price action reacts now will determine where we go for the week ahead. Ideally we see some strong bullish setups right now and continue higher into 1825.00 Trade scenario 2: For us to consider gold bearish again we need to see some strong lower highs below 1800.00
FX_IDC:XAUUSDLong
by ForexLeague
EURJPY 4hour Analysis October 24th, 2021EURJPY Bearish Idea Weekly Trend: Bearish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: The daily timeframe is bullish but we can see clearly on the 4hour that price action is retracing and still needs to form structure before we look to higher targets. Ideally we see a higher low form near 131.300 which is a great confluence area. Trade scenario 2: If we see a break of 131.300 with a lower high below we can begin looking for short opportunities.
Long
by ForexLeague
USDJPY Daily Analysis October 24th, 2021USDJPY Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: Finally UJ retraced after a very extended rally. From here we’re looking for a reversal near our 38.2% fib level. Look to enter long on bullish setups confirming structure. Trade scenario 2: If we see a break of our weekly near 113.000 we will consider entering short on lower highs below 113.000. Look to target lower toward support around 111.500.
Long
by ForexLeague
AUDJPY 4hour Analysis October 24th, 2021AUDJPY Neutral idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall we are extremely bullish and overextended. Ideally we want to continue with the trend so we will wait for a pullback to spot structure formation. We will catch the continuation of the very strong daily bullish trend right after. Trade scenario 2: Because price action is so over extended we can actually spot a nice short opportunity on the potential retracement to 83.250. Look for rejection of resistance right now near 85.000 to enter short on.
by ForexLeague
DXY (USD Index) 4hour Analysis October 24th, 2021 DXY Bullish Idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bearish Trade scenario 1: Recent price action has been very bullish lately on DXY. Going into this week we can see price action continuing bullish after we see a reversal around recent broken structure & our 61.8% fib level near 93.250. How price action reacts here will determine the next 4hour trend. Either a continuation or reversal. Trade scenario 2: If we do price action push lower we can declare this recent formation around 93.800 a daily reversal and NOT a daily continuation. Expect to see more downward pressure. We will be targeting support around 91.500 as that is the next major daily support level.
TVC:DXYLong
by ForexLeague
XAUUSD 4hour Analysis October 17th, 2021Gold Bearish idea Weekly Trend: Bearish Daily Trend: Bearish 4Hour Trend: Bullish Trade scenario 1: Higher timeframes point toward gold being very bearish and so does the rejection we just saw near our 1800.00 resistance level. Two ways to enter short on gold from where price action is. Either enter short on the next lower high below 1800.00 or wait for a break and retest of 1765.00 with a lower high below. Trade scenario 2: For us to consider gold bullish we would first need to see a break of resistance near 1800.00 with a higher low above.
FX_IDC:XAUUSDShort
by ForexLeague
1
USDJPY Daily Analysis October 17th, 2021USDJPY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: UJ is overextended as sh*t… we need to see our next higher low above 113.000 to confirm a bullish continuation. If this happens we can consider long opportunities to new highs. Keep in mind price action will remain fairly bullish as long as we are above 111.500. Trade scenario 2: For us to consider UJ bearish we would need to see a break back below 111.500 with a lower high below.
by ForexLeague
AUDJPY 4hour Analysis October 17th, 2021AUDJPY Neutral idea Weekly Trend: Bearish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Overall we are extremely bullish on Audjpy but we are clearly over extended on the 4hour and we are near a major resistance level around 85.000. How price action reacts at this level will determine where we are headed for the week. Ideally we can spot a pullback to 83.250 with a confirmed higher low above. We can consider long scenarios at this point. Trade scenario 2: For us to consider AJ bearish we would need to see a break below support around 83.250 with a lower high below.
Long
by ForexLeague