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GBPUSD - the DROP, how to trade it?GBPUSD still looking BULLISH across the board however, there's an opportunity for a nice 150pips drop before the next rally to the upside. DXY is looking to have a nice bounce which means there's a possibility for SHORT on xxxUSD which is why we are looking to attack GU SHORT first before the rally. ENTRIES #1 ENTRY -: Take a SHORT at current price or wait for push up to the reaction box AND take the SHORT. #2 Entry -: Wait for the DROP and take a LONG at 800ema on D1 OR at the PREVIOUS MONTH HIGH INVALIDATION On #1 Entry, Set a 60pips Inv. On #2 Entry, exit LONGS when we fix below the BASELINE. TARGETS #1 Exit at PREVIOUS MONTH HIGH #2 Exit at MAIN PREVIOUS HIGH P.S I trade with literally zero complicated analysis and still maintain 90% HIT RATE on my LIVE TRADES and ideas.
by TheHOODofCRYPTO
CADAUD Falling Wedge PatternCADAUD, the Canadian Dollar against the Australian Dollar, is showing signs of a potential reversal as it reaches the end of a falling wedge pattern at a key support level. This pattern typically indicates a potential trend reversal from a downtrend to an uptrend. Traders considering this potential reversal may set a take profit level at 1.1148, aiming for an upward price movement towards this target. To manage risk, it is recommended to place a stop loss at 1.0960, serving as a safeguard in case the reversal does not materialize as anticipated. While the falling wedge pattern and support level provide encouraging signals, it's crucial to consider other factors such as market conditions, fundamental analysis, and overall market sentiment. Technical patterns alone do not guarantee successful trades, and it's essential to closely monitor the market for any potential changes. Looking forward to read your opinion about it.
Long
by TopgOptions
AudUsd- Back to 0.68 after false breakSince the beginning of March, AudUsd is trading in a clear range between 0.66 and 0.68. The end of May found the pair breaking under the support of this range, but the break lacked continuation and with the price getting back above support again it proved to be a false break. Yesterday the pair tested again 0.6 and reversed and at the time of writing is trading at 0.6666. Considering the false break and the recent test of support there are high chances of continuation to the upside and 0.68 resistance could be the target. Back under 0.66 puts a pause to this scenario.
Long
by Mihai_Iacob
2
GBP/CAD Continues Bullish Run as CAD Downtrend PersistsThe recent surge in UK CPI figures has sent shockwaves through the broader markets, with many observers anticipating a hawkish response. This sentiment is particularly noteworthy given the recent comments by Governor Bailey, who expressed optimism about the UK's inflation trajectory and suggested that the central bank's interest rate hikes may soon come to a close. Against this backdrop, the GBP has embarked on a new bullish rally following a breakout of the dynamic trendline at 1.67500. Meanwhile, the CAD continues to experience a sustained downtrend, underscoring the potential for the GBP to extend its gains and potentially even surpass the 1.7000 mark. In light of these factors, traders are advised to monitor the GBP's performance closely and consider potential long positions.
Long
by FOREXN1
5
How to use news and data reports to make transactions profitableFrom central bank interest rate resolutions, non-farm payrolls, PMI indexes, inflation rates and other data reports, to geopolitical developments, and even natural disasters, these are major news that foreign exchange investors cannot ignore.Because the trend of the currency is always guided by these major economic events and news developments, it is accompanied by trading opportunities. Of course, not all news is worth trading, so we must be familiar with how economic events will affect currency market trends.For major transaction news and data reports, we can follow the following three steps: 1. Select news events that will cause price fluctuations Foreign exchange traders tend to pay attention to certain key economic data that have an impact on interest rate speculation. These economic data include: central bank decisions and speeches, gross domestic product (GDP) data, employment data, inflation rate and trade balance. 2. Choose the right currency pair Generally speaking, we will choose currency pairs with high liquidity. There are mainly the following 8 pairs: EUR/USD, USD/¥, AUD/USD, GBP/¥, EUR/CHF, and CHF/¥.The sufficient liquidity of currency pairs is conducive to us to use lower transaction costs to win huge profits through greater volatility. 3. Pay attention to the news release time and forecast results We have to trade based on data expectations, that is, the actual announced results are compared with the predicted values.For example, if the non-farm payrolls report is better than expected, the dollar will generally rise, and EUR/USD may fall. In addition, before the data is released, we need to check the price movement of the short-term chart (5, 10, 15-minute chart), and use the closing price to decide whether to trade the current data report.After the price trend is confirmed, open a position and set a take profit and stop loss. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Education
by Short-term-king
NZDUSD Bullish Continuation MM P 100pip// WHICH PATTERN ON MMP GUIDE DO WE HAVE?// NZDUSD is currently showing a BULLISH CONTINUATION MM Pattern 5 in the MMP GUIDE. // HOW TO ENTER // Wait for NY to pullback close to the CP RISK ENTRY ;- LONG on a good rejection from CP CONFRIMED ENRTY;- LONG when we fix ABOVE BL (Baseline) // INVALIDATION // Use a 20-30pips STOP LOSS I will post money making trades like this everyday. Be sure to FOLLOW and LIKE so you don't miss anything. P.S I have a very unique system that involves ZERO BS analysis, all you do is LOOK & EXECUTE (takes less than 4mins to decide), this beats every system in terms of ACCURACY, PROFITABILITY and best part? High R:R. It's called HOOD SUITE SYSTEM.
by TheHOODofCRYPTO
I will notify you of the EURUSD entry opportunity Regarding the euro, the inflation outlook in the Eurozone is uncertain, and the European Central Bank (ECB) is not expected to shift its tightening policy quickly. On Tuesday (February 28th), the French CPI annual rate was recorded at 6.2%, higher than the expected 6.1% and the previous value of 6.0%; this indicates that there is a risk of a rebound in Eurozone inflation. On the US dollar side, since early February, a series of economic data in the United States have been stronger than expected, and market expectations for US inflation have rebounded. Expectations of a rate hike by the Federal Reserve (Fed) continue to rise, and the currency market has sharply raised the pricing of the peak of Fed interest rates. If the upcoming economic data continues to exceed expectations, there is still a possibility of further strength in the US dollar in the short term. The Eurozone CPI for February, which will be announced on Thursday (March 2nd), and the US ISM Services PMI for February, which will be announced on Friday (March 3rd), are worth paying attention to. If US data continues to perform strongly, it will put pressure on the upside of EURUSD. Looking at the EURUSD 4-hour chart, after a short-term rise, it is once again under pressure to fall back. The upward momentum is obviously insufficient, and there is a demand for a pullback. I personally expect the market to confirm a wave of support before ushering in a new round of upward movement, which will also be our entry opportunity. My suggestion is to wait for the market to adjust to the range of 1.05400-1.05500 to initiate a long position layout. This is a key support level in the oscillation range and also a relatively good buying point. If you have large funds, you can enter in advance. Friends with small funds need to be patient and wait for the buying point to appear. The first profit-taking position above is 1.07200, and the second is 1.08000. I have in-depth research on futures products such as cryptocurrencies, foreign exchange, stocks, gold, and crude oil, and I also update some daily operational layouts. Thank you for your attention and likes. Friends with questions can leave a message to me in a timely manner, and I will give the most prudent advice to help you.
Long
by FlashTrades_
1
GoldViewFX - 4H CHART UPDATED LEVELS & TARGETSHey Everyone, Please see our updated 4H chart Goldturn levels and targets. 1817 Goldturn, which was the previous swing range provided support for the swing up. This is level is a strong support structure. Should we see 1817 challenged and broken with EMA5 we will see the new swing range open below down to 1779. However, right now we are seeing 1817 support providing a nice push up with a candle body close above 1836 opening a gap to 1854. This gap target of 1854 will be strengthened should we see ema5 cross and lock above 1836 with a potential follow through to 1865. Short-term technical structure may look Bearish but the overall long term structure is still Bullish. We will trade against the short term trend and stay within the long term trend and trade retracements for now and continue to buy dips. Bullish Targets 1854 1865 EMA5 CROSS AND LOCK ABOVE 1865 WILL OPEN 1882, 1894 and 1906 Bearish Targets 1836 1817 EMA5 CROSS AND LOCK BELOW 1817 WILL OPEN 1797 AND 1779 SWING RANGE 1797 - 1779 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
10