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Top-Down Analysis of AUDUSDTop-Down Analysis of AUDUSD Understanding the Chart: The provided chart displays the AUDUSD pair on a 4-hour timeframe. We can observe price action, support and resistance levels, and potential trend directions. Overall Trend: * Short-term: The market appears to be in a downtrend based on recent price action. * Long-term: A broader perspective (not visible on this chart) is needed to determine the long-term trend. Key Levels: * Resistance: The price has been facing resistance around the 0.67000 level. * Support: The 0.65500 level appears to be a potential support area. Entry Strategies Using Fibonacci Retracements (Below Discount) * Identify a recent swing high and swing low: Determine the highest and lowest points of the recent price movement. * Draw Fibonacci retracement levels: Create Fibonacci retracement levels between the swing high and low. * Look for potential entry points: Consider buying near the 38.2% or 50% retracement levels if the price shows signs of bullish reversal. Caution: Using Fibonacci retracements alone can be risky. It's essential to combine them with other technical indicators for confirmation. Break of Structure and Retest * Identify a clear structure: Determine the recent price action's higher highs and higher lows (uptrend) or lower highs and lower lows (downtrend). * Wait for a break of structure: Observe if the price breaks above a resistance level (uptrend) or below a support level (downtrend). * Look for a retest: After the break, wait for a pullback to the broken level (now acting as support or resistance) for a potential entry. Example: If the price breaks below the 0.65500 support level and then retraces back to this level, it could be a potential entry point for a short position. Additional Considerations * Risk Management: Always use stop-loss orders to limit potential losses. * Timeframes: Analyze multiple timeframes to confirm trends and potential entry points. * Other Indicators: Consider using additional indicators like RSI, MACD, or Bollinger Bands to support your analysis. Remember: Trading involves risks. It's crucial to develop your trading strategy and manage your risk effectively. Would you like to delve deeper into any specific aspect of this analysis or explore other potential entry points based on different indicators?
by sochimanzeakor
4
GBPUSD - Sell trade July 24 2024I'm Back! - busy with some learning materials as I level up on analysis and data. attached here is the GBPUSD july 24 2024 trade. I noticed supply introduced in daily TF up to 4H TF ( markets are fractal) . It makes me conclude that it will be a bearish momentum (correction) because of wyckoff accumulation last week. As I continue to monitor the charts during London session, I noticed liquidity sweep in highs of the structure, so I create an alert in my algorithm to alarm when it noticed a tiny supply introduced in 15 min TF. Setting a pending order aiming to have 5:1 RR. During N.Y session, it moves according to plan, coming to fruition this morning (PH time) . (check charts for a detailed analysis) # wyckoffdistribution #algorithm #supplyanddemand
Short
by glyrad
AUDJPY Bullish Robbery plan to make moneyMy Dear Robbers / Traders, This is our master plan to Heist Bullish side of AUD/JPY Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned with target in the chart focus on Long entry, Our target is Red Zone that is High risk Dangerous area market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic resistance level, Once it is cleared we can continue our heist plan to next target. support our robbery plan we can make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
Long
by Thief_Trader
EURCHF Bullish Money Heist Plan on Long sideMy Dear Robbers / Traders, This is our master plan to Heist Bullish side of EURCHF Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan i have mentioned with target in the chart focus on Long entry, Our target is Red Zone that is High risk Dangerous area market is overbought / Consolidation / Trend change / Strong Pullback happens at the level Bear Robbers / Traders gain the strength. Be safe and be careful and Be rich. Loot and escape on the target🎯. support our robbery plan we can make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
Long
by Thief_Trader
USDJPY | MT Short H4 | Riding on BOJ InterventionPair: FX:USDJPY Timeframe: H4 - Medium Term (MT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Price action may face some resistance from a previous support line - Price is close to 61.8% Fib Extension Level - Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level Fundamental Confluences for Trade: - Dividend repatriation season for Japan where MNCs bring back USD dividends and converts them to JPY - These levels may see BOJ intervening to stop the Yen weakness - Yield differential between USA and Japan cannot be denied and dovish BOJ doesn't help much; hence the weak JPY unless we see a firmer BOJ - Further war escalation from the Israel-Iran tension may bring on risk-off moves and see the JPY strengthen Suggested Trade: Entry @ Area of Interest 154.00 - 155.15 SL @ 156.56 TP 1 @ 151.30 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 149.27 Risk-to-Reward @ Approx. 3.03 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Short
by weekendanalyst
2
AUDJPY: Thoughts and Analysis Today's focus: AUDJPY Pattern – Continuation Support – 98.90 & 98.35 Resistance – 100.20 & 100.60 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the AUDJPY on the daily. We could have a new continuation forming as buyers have beaten yesterday's high backing in a second positive session. Australian employment data came in mixed with a decrease in unemployment. This, with a weaker Yen, looks to be supporting buyers at this stage today. If we see a move below today's low or back below 98.90, this could be a warning, as it will cancel out continuation ideas in the short term. What do you think? Do you think this is a continuation pattern? Good trading.
Long
by Eightcap