GBPCAD 4H Long I am re-entering here. My stop loss was tight on previous long so now that manipulation has occured i will enter once again.
4H Demand Zone was breached + 4H RSI Divergence has formed.
Fxtrading
GBPCAD: Bearish Continuation 🇬🇧🇨🇦
GBPCAD has nicely respected a resistance line of a falling parallel channel.
The price formed a double top on that and broke its neckline to the downside.
I expect a further bearish continuation now.
Next support - 1.555
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MarketBreakdown | EURJPY, EURCHF, GBPCAD, GBPCHF
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ EURJPY - Daily time frame 🇪🇺 🇯🇵
I see the signs of a bullish accumulation:
the price has already set two equal highs and keeps setting higher lows.
I believe that we will see a breakout attempt of a current horizontal resistance.
Daily candle close above that will trigger a bullish trend continuation to new highs.
2️⃣ EURCHF - 3 days time frame 🇪🇺🇨🇭
The pair is approaching a solid horizontal zone of demand.
Be prepared for a breakout attempt.
Its bearish breakout will trigger a bearish continuation to a year's low.
3️⃣ GBPCAD - Daily time frame 🇬🇧🇨🇦
As I predicted, GBPCAD dropped nicely.
The pair formed a double top formation with a lower high.
Its neckline violation signifies a highly probable further decline.
4️⃣ GBPCHF - Monthly time frame 🇬🇧🇨🇭
The pair is currently approaching a wide weekly demand cluster.
Taking into consideration that the market is very oversold, I believe that we will see a pullback from that structure soon.
Look for a confirmation on lower time frames to buy.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
EURAUD: Complete Indecision 🇪🇺🇦🇺
Very peculiar situation on EURAUD pair:
the market is stuck between 2 structures,
one - major weekly resistance,
one - key daily support.
Depending on the reaction of the price to these structures, I see 2 potential scenarios:
If the price breaks 1.528 - 1.538 resistance and closes above that on a weekly,
I will expect a bullish trend continuation to 1.558
If the price breaks 1.516 - 1.52 support and closes below that on a daily,
I will expect a bearish move at least to 1.505.
Wait for a breakout and the follow the market.
What do you expect?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
EURAUD Short4H Supply, 15min RSI DIv for the entry. You know the drill, stops outside zone, TP at 4H Demand.
EURJPY 4H ShortEJ has tapped into Supply and we hvae 15min RSI DIv for the entry. You know the drill, stops above zone and TP at Demand.
GBPCAD: Important Decision Ahead! Your Plan: 🇬🇧🇨🇦
GBPCAD is trading in long-term bearish trend.
The market is steadily going down within a falling parallel channel.
The pair is approaching its resistance at the moment.
Depending on the reaction of the price to that, I see 2 potential scenarios:
If the price breaks a resistance of the channel (we need a daily candle close above that to confirm a breakout),
then a bullish continuation will be expected to 1.6118 structure.
If the price breaks a 1.5855 - 1.59 local daily support and closes below that
then a bearish continuation will be expected at least to 1.572 level.
Wait for a breakout and only then buy/sell the pair.
What are your expectations?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
EURCAD and CADCHF Top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EUR/USD short term sell opportunity Good morning everyone,
Watch for this short term sell setup in the EUR/USD. Try to get an entry from top of corrective structure (already developing) or wait for bearish flag to sell for the retest of 1,034 low.
Wish you all the best trades,
PTFX
Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by my understanding of the technical figure based on wave theory.
GBPCAD ShortSimple trade here. 1H Fib at the .706, Bollinger confirmation, EMA rejection that printed a bearish pinbar on the 4H. This you'll notice is a bit different than my other trades where i trade Supply/Demand. I am working on continuation trades so getting my hands wet with some different forms of confirmations. Let's see what happens
XAUUSD top-down analysis todayHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
CHF pairs top-down analysis todayHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
MarketBreakdown | SILVER (XAGUSD), Dollar Index, EURCHF, CADJPY
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ Silver (XAGUSD) - 4H time frame 🪙
Since the beginning of June, the market is consolidating.
The price is coiling around 21.8 - 21.88 horizontal support area.
It looks like the market is preparing for its breakout attempt.
If the market breaks and closes below that structure we may see a bearish continuation.
2️⃣ Dollar Index (DXY) - Daily time frame 💵
The index formed an ascending triangle formation.
If the price breaks its resistance to the upside, the market may start growing sharply.
Alternatively, a bearish breakout of its trend line may initiate a strong bearish move.
3️⃣ EURCHF - Daily time frame 🇪🇺🇨🇭
Strong supply area is ahead.
1.05 - 1.0515 is the zone from where I will expect a retracement.
Wait for a confirmation and be ready to short.
Alternatively, its bullish breakout will trigger a strong bullish movement.
4️⃣ CADJPY - Monthly time frame 🇨🇦🇯🇵
The market is currently approaching a key monthly resistance.
Taking into consideration that the pair is very overbought we might see a correctional movement from that.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
CADJPY climbing towards historical resistanceThe Japanese yen's weakness is obvious across all its pairs, including against the Canadian dollar. The CADJPY has displayed a strong bullish uptrend after its breakout above the 92 price level, on a monthly time frame, and is now facing a historical resistance in which to overcome.
Looking at the CADJPY on the chart below, we can see that the price is currently at the supply area based on the Supply and Demand indicator and has a strong resistance at 103.381. Historically, the price has rejected at that price level and moved back lower to the decade-long demand zone at around 74.580.
Traders are on the lookout right now at this strong monthly supply zone as this could be a good opportunity to take an upside position for a breakout or take a sell to the downside if it rejects at the supply zone.
If an upside break does occur, will the CADJPY continue all the way to the next supply zone starting at 115.530? The possibility of this might be dependent on the fundamental factors, including whether Japanese authorities intervene in the currency market.
Fundamental note
The Bank of Japan has vowed to maintain its ultra accommodative policy, in stark contrast to the actions taken by other major central banks. As a result of bank’s inaction, it will be up to the Ministry of Finance to intervene in the currency market if the JPY continues its rapid depreciation.
EUR pairs top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCAD: Key Levels to Watch This Week 🇺🇸🇨🇦
Hey traders,
Here are major key levels for you to watch on USDCAD this week.
Resistance 1: 1.2659 - 1.277 area
Resistance 2: 1.28845 - 1.29 area
Support 1: 1.24037 - 1.24792 area
Support 2: 1.22875 - 1.232 area
Let the price reach one of the key levels and then look for trading opportunities there.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
US30 STILL ON DOWN CHANNELUS30 will still continue is down channel if possible as long as it remains below EMA200. we still need the market to push up a little bit in order to fill up some gaps before looking for short. As long as he keeps staying under EMA200 in the down channel possible short is coming. Please give me a like, comment, and follow me if this idea is helpful to your trading activity
GBPNZD LongGN has tapped into 4H Demand, and lower TF shows RSI Divergence for the entry. Lets get it.
EURAUD LongEA has tapped into recent 4H Demand. You knnow the drill. We found RSI Divergence on the lower TF for entry confirmation, and now we let it ride.
EURAUD and EURNZD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURCAD 15min LongEURCAD has entered into a 4H Demand Zone, you know the drill! On the 15min we have beautiful RSI Divergence confirming our sniper entry. Looking to get atleast a 1:6 out of this one.
