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H-setup

XAU/USD BEARISH SETUP - 1910 KEY LEVELOn gold, we have a bearish setup on both the weekly and daily charts. Occasionally, we have noticed that it is useful to look at clearer and more detailed timeframes. In both the weekly and daily charts, we precisely have a bearish setup with a resistance zone between 1960 and 2040. Within this zone, there is a demand area and a bearish trendline where the price has bounced before reversing course after a slight rally. Indeed, the price is now descending towards 1910, which is our key level that will act as support initially and then resistance once the price reaches the demand zone, which is between 1800 and 1840. We expect a rebound from that area with a target of 1910. Let us know what you think. Happy trading to everyone!
OANDA:XAUUSDShort
by Forex48_TradingAcademy
1
AUD/CAD SHORT TRADE H4 SETUPI went short on this pair following a specific candlestick pattern and a support/resistance zone on the H4 timeframe. I identified an engulfing candlestick pattern on the 4-hour chart, suggesting a potential change in market direction in favor of my short trade. Furthermore, I noticed that the price has returned within a box that previously acted as both support and resistance. This led me to believe that the market might continue its bearish trend. Here are my entry point, stop loss (SL), and take profit (TP) levels: Entry point (short): 0.8820. Stop loss (SL): 0.8881. Take profit (TP): 0.8715. This is just one of my trading strategies based on candlestick analysis and support/resistance levels. However, the market is always unpredictable, and trades involve risks. I maintain a strict risk management approach and am ready to adjust my stop loss and take profit as the trade evolves. Please note that this information is provided for educational purposes only and does not constitute investment or trading advice. I encourage you to conduct further analysis and make informed decisions based on your financial situation and trading experience.
Short
by Forex48_TradingAcademy
USDCHF has turned positive.USDCHF - 24h expiry Short-term bias has turned positive. Price action has posted a Doji candle and signals a possible reversal of the recent trend. A lower correction is expected. We look to buy dips. 50 4-hour EMA is at 0.8677. We look to Buy at 0.8673 (stop at 0.8637) Our profit targets will be 0.8763 and 0.8773 Resistance: 0.8736 / 0.8750 / 0.8770 Support: 0.8700 / 0.8675 / 0.8660 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
GBP/NZD H1 BULLISH SETUP WITH A POIWe have a bullish setup on this pair with the price at 2.07. Currently, the price has started to rise following the release of Australian Bank's interest data. If the level of 2.0750 is breached, it would confirm this setup, which anticipates an entry at 2.0670, where we have a point of interest. Remember that the entry will be considered valid only if there is a re-test with the candle closing on the H1 timeframe above the Point of Control (POC). Otherwise, the position will be closed immediately. Let me know what you think. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
GBP/USD SHORT TRADE AFTER THREE H1 RE-TESTI took a position in the GBP/USD market after noticing a confirmed downside breakout below the Point of Control (PoC) followed by 3 re-tests this morning. The price closed below the level of 1.2854, and I decided to enter a short position (sell) as I believed there were good chances for the price to continue going down. My objective (target) was to capitalize on further downside movements and profit from the decrease in the GBP/USD exchange rate. I made the trade based on what was highlighted on the chart, which indicated promising opportunities for a short trade.
Short
by Forex48_TradingAcademy
1
USD/JPY LONG TRADE WAITING NFPOn USD/JPY, we have a bullish setup following the breakout of the trendline at the level of 140.80. At that level, I have marked a potential entry point corresponding to the retest of the trendline, a demand zone, and an FVG (I'm not sure about the meaning of "FVG" in this context). Therefore, the objective is a long trade with a target at the level of 145, as we have an area with low trading volumes, and the price could rise rapidly, especially considering the Non-Farm Payrolls (NFP) data on Friday. Let me know what you think. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
Long
by Forex48_TradingAcademy
2