DEEPAK NITRITE - MONTHLY BREAKOUT Deepak Nitrite on the monthly charts seems to have completed the price and time wise correction. It seems likely that it will shift gears from being sideways to directional.
Impluse
GBPJPY Push into Supply: Short 16:1 RRGJ has shown consistent weakness at this level. A promising sell initiative through the Asian open points to a push lower. I’m expecting a retest of 163.746 into a push lower to test local demand at 161.700. This trade is contingent on yesterdays intraday trend being broken.
NZDCAD NEXT POSSIBLE MOVE🚀Hey everyone. As we all can see the clean descending channel followed by a reversal pattern which might possibly make the next bullish implusive move to the up side🚀. I am Waiting 💆🏾♂️ for a double bottom or a lower time frame reversal pattern to take some possible entries💯.
Thanks for reading
GOOD LUCK AND AS ALWAYS, TRADE SAFE AND STAY SAFE!🤝🏾
PEACE 🔥
$INDO Next Target PTs 18-30 and higherIndonesia Energy Corporation Limited operates as an oil and gas exploration and production company in Indonesia. It holds interests in the Kruh Block, a producing block covering an area of 258 square kilometers with net crude oil proved reserves of 1.52 million barrels located to the northwest of Pendopo, Pali, South Sumatra; and the Citarum Block, an exploration block covering an area of 3,924.67 square kilometers located onshore in West Java. The company was incorporated in 2018 and is headquartered in Jakarta, Indonesia. Indonesia Energy Corporation Limited is a subsidiary of Maderic Holding Limited.
Litecoin (LTC) Buy ZoneLitecoin (LTC) Buy Zone
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BIAS
Mid-Term : Neutral
Long-Term : Bullish
If we see the expected reaction from our current long term support level for this, orders laddered for what could very much be our first impulse wave after reaching a mid term bottom. High risk setup.
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$LTC/USDT SPOT SETUP
Entry Price : 155.5 - 149
Mid-Term
TP 1 : 165
TP 2 : 171
TP 3 : 182
TP 4 : 195
Long-Term
TP 5 : 217.5
TP 6 : 231.7
TP 7 : 250
TP 8 : 278
Stop Loss : 124
*Stop Loss - LTC daily close below 124
*Maximum 5% of Portfolio.
*Unload 12.5% at each TP. Whenever TP 2 hits, Move stop loss to entry.
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USDJPY Daily Analysis, Market still in consolidative rangeHello everyone, as we all know the market action discounts everything :)
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The USDJPY pair started this session with a Bullish move driving the price back to 110.08 from 109.74, The Bulls now are eyeing every move of the market waiting for the opportunity to push the price and close above the 110.00 levels for creating a support zone at that level that would be able to help the market back to the 111.00 level.
If we applied the Elliot wave theory to the market we can see that the market is having its 3rd impulse wave right now which could be the move that drives the price above the 111,00 level.
Different Scenarios for the market
Scenario 1 :
The price has reached the resistance zone from 109.92 - 110.08, The Bulls are trying to power up in the hope for a breakout of that zone where this could indicate a start for a next Bullish move that could lead the price near the 110.625 resistance like where the Bulls will test the Bears hoping to start a big bullish move that could lead the market back up to the 111,00 level.
Scenario 2 :
The price has reached the resistance zone from 109.92 - 110.08, The Bears are trying to take control back from the bulls in hope of driving the price back down, the battle is still going at that resistance zone, In case the Bears got control then we will see the price go down to the first support line at 109.750 where the bulls will have to defend for any hope to end this sideways move in their favor.
Technical Indicators showing :
1) The market is above the 5 10 20 100 and 200 MA and EMA (Bullish sign), but still below the 50 day MA.
2) The RSI is at 52.31 showing Neutral signs but the market does seem to be gaining more strength.
3) The ADX is at 10,16 showing that the market is not in a trending state yet, With a positive crossover between DI+ (22,14) and DI- (20,11).
Support & Resistance points :
support Resistance
1) 109.75 1) 109.92
2) 109.59 2) 110.08
3) 109.19 3) 110.62
Fundamental point of view :
A combination of supporting factors undermined the Japanese yen and assisted the USD/JPY pair to gain some positive traction for the second successive session on Monday. A goodish rebound in the equity markets dented demand for the traditional safe-haven JPY, which was further undermined by the worsening COVID-19 situation in Japan.
Apart from this, weaker PMI prints out of Japan further acted as a headwind for the JPY. Japan PMI Manufacturing eased from 53.0 to 52.4 in August and the gauge for the services sector dropped sharply from 47.4 to 43.5, marking the worst reading in 15 months. This added to worries about the economic fallout from the continuous rise in COVID-19 cases.
Bullish traders further took cues from a modest uptick in the US Treasury bond yields, tough the ongoing US dollar profit-taking slide might cap gains for the USD/JPY pair. The uncertainties tied to the COVID-19 situation might have forced investors to reassess the timing of the Fed's tapering, which, in turn, prompted some USD profit-taking. According to FXSTREET
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts and news for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
USDJPY - Breakout- Long - H1USDJPY - Breakout- Long - H1
BUY Breakout @ 107.80
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Entry: 107.80 | Stoploss: 107.50 | Takeprofit1: 108.35 |
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If you like this idea please click the like button to support this channel, thanks.
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Disclaimer: All information and ideas provided is for educational purposes only. It is not a recommendation to buy or sell.
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EUR/AUD - LONG - 2. FEB. 2020High chance of correction followed by the continuation of an impulse to the weekly trendline
"Comment", "Like" and "Follow" are appreciated! Have a great week everyone!
EURAUD Reversal Pattern IdentifiedEURAUD Looks like a really good set up heading into next week. Price has been forming a reversal pattern and has successfully created an impulsive move to the upside. Before we enter we need price to pull back aka bull flag before we go long. Definitely keeping a close eye on this pair. This is not financial advice. I am not a financial advisor. This is for educational purposes only.
GOLD POSSIBILITY 4H.Update On The trade Will Be Sent Through-Out The Trade Session. Contact For More Info.
USDCAD LongAttempted this trade earlier in the week but the correction wasn't complete. Given this time the lowest low has strong bull candles (visible on a lower TF) it's ripe to go long to catch some impulsive pips
Another big wave down?Looks like a double zigzag (W)-(X)-(Y) correction could be a possible resolution for Nikkie 225
DO NOT MISS OUTVery simple market structure here. The daily time frame shows the market in a bearish trend. With an impluse, a correction to the upside then continuation to the downside.
There has been 3 days of multiple rejections in the descending channel and has now created a bearish shooting star, suggesting a strong move towards the downside.
Watch the comments as I will break this pair further down on the lower time frame and how I plan on entering this trade.
If this helps you out, let me know and any feedback would be appreciated
Thanks
Nath
EURGBP Longterm ForecastOn the weekly side of things, we are currently at a extended corrective phase, forming a descending channel.
Short term will look for short opportunities to the bottom of the channel, then look for potential buy signals at the bottom of the channel.
Keeping things simple as always.
Do like the idea if you enjoy what you're seeing.
Cheers.
Short-term Buy Set-upIt simply looks like a 3-waves correction (green a-b-c) after the initial impulsive rally (red wave 1 or a) .
The short -term bullish target could be re-test the red wave a high at 0.73818, the stop could be 1 pip below the previous low at 0.72025.
If we are lucky, this could be a wave 3 rally instead of c.
Dollar Index impluse coming to the upside?we have seen price break the TL. we are now looking for a trend continuation pattern to confirm the move to the upside
USDCAD: Patience will be the winnerMost traders are anticipating the drop of the USDCAD in the broader perspective. I still think it is a little early for the USDCAD to drop, but only time will tell. For now we need to watch price retest the highs it made this past week. If it fails to form new highs then we can look for a short opportunity and hold it. I am expecting the price to at least get to the 71.8 fib level before reversing to match the AB leg, forming the CD leg with an bearish implusive wave.
