CADCHF, SHORT Price action has developed a larger descending channel on the HTF which in nature is considered a reversal pattern.
Looking at the LTF we can see price impulsively reversed from the upper boundary moving correctively to retest the top of channel again.
Wait to see if we get a bearish confirmation for a sell opportunity.
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Fundamentalanalsysis
USDCAD, LONGPrice action is developing a flat formation which we may see one more leg down before the next impulse phase.
We can see a clear uptrend in the HTF which a long opportunity at the bottom of this structure giving is double bottoms would be a good opportunity to buy.
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Is Bitcoin going to crash again?Hello Traders , welcome to the Bitcoin chart.
Everyone around the world is bullish on bitcoin, but my views are totally different. After the bullish surge, everyone thinks we entered in the bull run but we are not. As you know the charts speaks, So in charts BTC is going to crash again and we are building a bottom right now . There's so much going on in the market. It's the bull trap i can say.
As you see there is a massive impulse in the charts from last few weeks, now you'll see the aggressive drop.
The whole crypto market is going to crash again in couple of weeks. Let it play out, don't get panic. Let it play out - this will mark the beginning of bull run.
I'm not buying and waiting for the bottom.
In my portfolio there are coins, which will give 10-12x in next bull run. If you want to maximise your portfolio , leave a message.
Trade Safely.
EURUSD | Market outlookToday, the February data on the volume of industrial production in Germany were published, which turned out to be generally positive: the figure rose by 2.0%, which is significantly more than the 0.1% expected by experts. Serious upward dynamics was achieved mainly due to an increase in car production. Observers believe that the German industrial sector is recovering, and a large number of orders and lower energy prices may support it in the future. At the same time, the March index of business activity in the construction sector disappointed investors: the overall indicator for the eurozone fell from 47.6 points to 45.0 points instead of rising to 49.1 points, and for Germany it decreased from 48.6 points to 42.9 points. We also note the latest comments of Philip Lane, Chief Economist of the European Central Bank (ECB), who said that food inflation in the eurozone is still increasing and is now a key driver of consumer price growth. Lane noted that its peak has not yet been passed, but said that he still expects it to begin to decline during the year.
AUDCAD, LongPrice action is shifting from a bearish market to a potential bullish one. Price is currently moving within a decending channel which is at a level that has had a strong reaction too previously indicating that we could see the next bullish phase begin.
To add confluence to this set up, we could see a H&S pattern which the Right shoulder could be in the beginning with a swing target of 0.93350 range.
Look at the LTF for an entry that meets your trading plan.
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GBPCHF, ShortPrice has created a strong reversal impulse followed by a developing bearish correction indicating more downside is likely. Wait for bearish confirmation before taking this short opportunity.
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UKOIL, ShortPrice has correctively pulled back to an area which we saw a strong impulse push downward breaking structure indicating could see a potential reversal occur at this level.
If we don't see a bearish confirmation validating a sell, I will look for a different that meets my trading plan.
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GBPAUD, ShortPrice is correctively moving within an LTF ascending channel within larger reversal structure which we could see a sell opportunity to bottom of HTF channel.
If we don't see a bearish confirmation to validate this sell, I will not take this trade.
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CADCHF, Short Price has pulled back to an area of value which we could get a sell opportunity to the rising trendline.
If we don't see a bearish confirmation to validate this set up I will wait for a different entry.
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USOIL OUTLOOK (27th - 31st March)With central banks having to promise they would deal with the liquidity crisis that is apparently everywhere and avoid another 2008-style meltdown of the industry.
Crude oil prices came off their lows as the near-term outlook for the banking sector improved, easing concerns about an economic slowdown later in the year.
Markets are also holding out for more cues from an OPEC+ meeting next month, with hopes that the cartel will cut production in response to a recent tumble in prices.
Oil has failed to break supply at 70.11 for the past three days which price is likely suggesting the efforts to convince the public that all will be well are not exactly being successful.
If price fails to break and close above 70.11-70.34 range I see selling opportunity towards major support at 66.85 if broken would see price tap into demand at 66.33-64.31 range where there could be possible reversal or a continuation.
EURAUD, Failed breakout, Short the Double topPrice action is shaping up for a bearish run as price was unable to continue the momentum and fell short of a double top level on the HTF. Looking at the lower time frames we can see a potential H&S printing retesting the March high indication more bearish price action is likely.
Look for a short to the lower trendline.
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EURGBP, Bearish H&S, Short term sellPrice action is in a down trend as we can see on the HTF price is moving within a decending channel. Looking at the LTF we can see a short term sell opportunity as price is potentially completing the right shoulder of a Head & Shoulders pattern which in nature is a bearish indicator.
Look for a short entry around the neck line of 0.885 that fits your trading plan.
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Federal Reserve Balance Sheet Projected to Exceed $19 TrillionWave structures on these Economic Indexes tend to play out fairly often, such as in the case for Various CPI and Interest Rate Charts which can bee seen in the Related Ideas tab below. With that in mind, I now turn to The Federal Reserve Balance Sheet; and when I look at the Balance Sheet what I see is that since the Inception of this chart, it has traded within an Equidistant Channel that can be easily viewed and plotted in Log scale.
When I look deeper into this I can also see that since around the end of the 2008 GFC when mass bailouts occurred, the RSI on the Balance Sheet has typically stayed Elevated and Above the Bullish Control Zone: meaning any time spent below the level of 70 has typically been followed by insane expansionary rallies, thus huge continuations in the rapid increases of the Balance Sheet.
Additionally, it can also be seen that as of recent times (notably since the mid 2010s) the MACD has become a great indicator in the form of Hidden Bullish Divergences appearing just before huge continuations to the upside; these mid 2010 events align with the blunder that were the taper tantrums in which the fed ultimately capitulated on their monetary tightening stance and decided to expand the Balance Sheet Exponentially Higher and now looking at the chart we can see yet another Hidden Bullish Divergence forming that will be confirmed at the close of the month after the next trading week signaling that another big wave up is about to begin.
Lastly, when zooming all the way out and taking in all the data at once, it can be seen that we are in what looks to be an AB=CD wave structure in which the first expansion was a 400% Expansion and the Current Expansion is on the way to being yet another 400%. We are currently about halfway there and the AB=CD Wave Structure would suggest that the Federal Reserve will more than double it's Balance Sheet by 2026 as the Federal Reserve capitulates yet again in an attempt to save the current fragile economic system.
Will the NZD/USD still be able hold above the 0.60 lvl?The Federal Reserve Chairman Powell reinvoked the power of the interest rate hikes to continue the battle in bringing inflation down. This news push the USD near the 106 lvl and hit the NZD/USD, pulling price below the 0.61 lvl. This was a hit to my position, but I ok with the floating loss currently. In order to reduce my risk, I added a stop at 0.60 because my thought is, if price pushes below the 0.60 lvl and holds by the end of the week, then I don't think I wrong on my R/A on this pair; I am just early. What I am going to do if I do get stopped out, I would wait a few days, see if price is still pushing lower, and then start building my position again. My objective is to have a max position before price pushes above the 0.65 lvl, so getting into a position below the 0.60 lvl, I think is an opportunity. There is also the thought of waiting until the USD NFP and CPI are released and the FED Rate Hike, as this could push the NZD/USD even further down.
I do need to work on my conviction and hope lvl. My hope lvl is around 55% and my conviction lvl is less then 50%. Since that is the case, I am not going to add anymore positions unless I am able to get my conviction lvl to 60%. I am still thinking in the near to longer term, price on the NZD/USD will push higher, but these two - three weeks are going to cause a lot of volatility.
I have another previous published thought on the NZD utilizing the Monthly chart. I wanted to add the NZD/USD update on the daily chart also, in order to see the daily moves in the market and see if my plan pans out.
Again, this is what I am thinking of doing and I am ok with taking the risk. Conduct your own analysis and take on the risk that feels comfortable to you.
Y'all have some good trading out there.
CADCHF, Bears to target 0.665 rangePrice action is shaping up for a sell opportunity as we can see a price is completing a bearish continuation indicating further downside is possible. Competition of this correction is also a 3rd touch on the upper trend line.
Find a risk entry or a reduced risk entry that meets your trading plan
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GBPCAD I Short and long opportunity!Welcome back! Let me know your thoughts in the comments!
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NZDCAD, Pullback to an area of value, look for sell entries Price action has pulled back an area of which we saw a strong impulse breaking downward from a strong structure level. Price has now retraced back to this area which we could see a nice sell opportunity.
Wait for bearish price action and find an entry thst meets your trading plan.
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AUDCAD, More downside possiblePrice action as been moving correctively towards a double top range which we could see another potential sell opportunity. I will be looking for a 3rd touch on this correction followed by a reversal impulse to validate another sell entry.
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Price on the EUR/USD is likely to break the 1.05 lvlThe EUR/USD is pushing lower because of Friday's USD PCE coming out higher then expected, and the previous reading revised higher. This is supposedly the FED's favorite measure of inflation, which gives the FED additional evidence to increase rate hikes. I do not think that the FED will be inclined to raise rates in the March meeting by 50 basis points. It will likely stick to 25 basis points. I am holding onto my positions (short side) and I am looking to place a stop at the 1.06 lvl. If price does break 1.05 (which is likely), price will be able to test out the 1.0450 lvl. At this point, I am deciding on whether I want to keep holding or not because I have other pairs I am looking at.
My current plan_Focus in on the NZDHere is my current plan I am implementing. I am in a 30k position on the NZD and I looking at continuing to building until 100k. If I could get into my full position before price breaks above the 0.63 lvl, I think I'll be in a good spot. Since the CPI came out as expected, this might be able to give price a little momentum higher. If price is able to hit the 0.65, I would be able to place a stop around 0.62/0.63 and ride price higher (to 0.70, will hit this level, possible in the end of the 2nd QTR). For the EUR I am just using it as a hedge. I ad a 15k position on it, but have recently exited my position. My NZDUSD position recovered and the EURUSD was just used to hedge my position. If the NZD drops again, I'll likely add a 30k position on the EURUSD. Once I am done with the NZDUSD, I am looking to get into the GBPCAD. I am going to wait until price hits 1.70. If it does, I'll start building on that pair slowly. I am looking to build a 400k/500k position, because I am still on the side that price will break down lower and possibly be able to hit the 1.35 level. This might happen towards the end of the 3rd QTR, possibly in the 4th QTR. The reason being is the UK economy is struggling to keep going. Out of all the G7 countries, the economy of UK is pretty bad. I am still looking at the 1.20 lvl and if price is able to actually break that level, and last a week below it, the move lower will actually be on. Now after these, I think central banks will be done raising rates in the end of the 3rd QTR, they might hold on rates, but I think sometime in 2024, banks might start lowering rates. I am thinking that before then, Silver will likely be around 18 or lower, and I would want to build a decent sized position. For now, I am in the first part of this plan and I'll be updating along the way.
This is my plan and how I trade. This is conveying my thoughts and of course this had a ton of risk. For one, I am hedging and I have experienced where both pairs I am in, divergence against me, and I lost money on both. I also use metal stops a lot, which if I don't catch it (which has also happened to me), can move against me hundreds of pips and that would not be a good day. I am just sharing how I trade and hopefully this helps provide some insight to other traders trading styles.
Now that I think about, from writing the above paragraph, for my risk management, this is what I am going to do. For the NZDUSD, like I typed up above, I will use the EURUSD as a hedge. It isn't a natural hedge, but it does work as a good hedge (and has positive rollover on the short side). I will get into this pair at 2:1 (NZDUSD/EURUSD) ratio. I'll be utilizing a hard stop on the NZD if price hits 1.65 (I'll place the stop at 0.62). If price is able to hit 0.67 and I have a full position, I'll move my stop to 0.6450. If I am skeptical or I want price more room to move, I'll identify a natural hedge (possibly the GBP or GBPCAD) and start building a position on both pairs also. Since I think price is going to push lower on these pairs, I'll be able to hold them even if price goes against me (that would my NZD position would be in my favor). I could also scale out also.
Ok, I am done now.
Y'all have some good trading out there.
EURUSD I Daily Chart Analysis & How to Trade It This WeekWelcome back! Let me know your thoughts in the comments!
** EURUSD Analysis - Listen to video!
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Technical | Fundamental | EmotionalOANDA:XAUUSD
FOREXCOM:XAUUSD
FXOPEN:XAUUSD
PEPPERSTONE:XAUUSD
EIGHTCAP:XAUUSD
SAXO:XAUUSD
Market moves on zig zag not straight Up
A correction is a must
Technical :
Support :
-1830
-1810
Resistance :
-1870
-1890
Fibonacci / Important Levels :
50.0 : 1785
61.8 : 1747
Fundamental :
-The whole move was caused by USD (Unemployment Data)
-DXY Dumped (it needed a correction anyway)
-It pumped more than expected (Manipulation / SL Hunt / Liquidation / Fear)
-It Broke Trend line (if it stays there above the trend line for 2 Days till 14/March then the trend is confirmed (Bullish)
Emotional :
-Greed | Euphoric / Bulls
-Sellers Fear / Bears
-Hope / Bears
-Ego /Bulls
Keep An eye :
-14 March CPI Data
-15 March PPI
A Dump is possible by 14 March/Tuesday (CPI)
This idea is invalidated If (Gold Stays above trend line 1840+ Until Wednesday 15/March)
*This is not an financial advice (Please make sure to follow your own Analysis)
*If you believe the idea is good show some support to keep me motivated for more ideas