AUDUSD Bullish Reversal Price Action, Watch for Buys
Hello traders:
Here on AUDUSD, we can see a clear inverse Head and Shoulder pattern in development.
After price has strong bearish phase down from the left shoulder correction, we did not see further bearish downside continuations.
Instead, what we see is a reversal impulse phase, this is a first sign and clue from the price that the bearish momentum could be exhausted.
Latest development after a bullish impulse up, was followed by a channel/flag like correction,
this leads to a right shoulder development of an inverse H and S pattern.
We can now see price has indeed impulse out of the correction now,
so good idea to wait for last confirmation of a LTF continuation correction to develop and finish, before jumping into the buy to the recent tops.
Thank you
Impulse
Elliott Wave Analysis: NZDJPY Is Looking For The 5th WaveHello traders!
Today we will talk about NZDJPY pair, its price action from technical point of view and wave structure from Elliott wave perspective.
As you can see NZDJPY is trading bullish, ideally within a five-wave impulse from the March 2020 lows, mainly because of current slow price action and corrective wave structure with perfect support at the 50% Fibo. retracement of wave 3 that belongs to wave 4.
Well, we believe that there can be room for more upside within wave 5 to complete a five-wave cycle before we will see bigger and deeper corrective decline, especially because of recent break above channel resistance line, so watch out for a continuation higher towards 82-84 area.
Trade well!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Multi-Time Frame, Price Action Analysis on Japanese YEN StrengthHi everyone:
Many have asked me about the Japanese JPY pairs outlook and forecast, as we can see they are surely gaining strength across the market.
I am personally live in some of the sell and looking to hold the trade as well as scale in on additional trades as well.
Now let's take a look at the pairs that I am currently in, and as well other JPY pairs from a multi-time frame, price action analysis point of view.
I will go over the best ones to look out for, and share my original analysis/forecast before the moves happened.
In addition, my plan on how to manage the current live positions, and plan on how to scale in new entries as well as other pairs.
Starting from the current positions that I am in:
CADJPY: Currently running + 6%, 6:1 RR
Original Analysis/Forecast:
CHFJPY: Currently running + 3.5%, 3.5/1 RR
Original Analysis/Forecast:
GBPJPY: Currently running + 3.5%, 3.5:1 RR
Original Analysis/Forecast:
EURJPY: Got out for +2.8%, 2.8:1 RR
Original Analysis/Forecast:
AUDJPY:
NZDJPY:
USDJPY: 2 entries total for BE
Original Analysis/Forecast:
Any questions, comments and feedback welcome to let me know.
If you like more of these contents, like, subscribe/follow and comment for me to keep doing them. :)
Jojo
SOLANA Is There More Upside Opportunity ?
Hello traders:
SOL has been on a massive bullish up move, they question is can we still get continuation up move ?
We can see after the strong bullish impulse up, price naturally needs to correct and consolidate, which is what we see here.
A bullish flag/channel correction in the making, which gives us bullish bias for continuation price action.
Latest price does see a lower time frame impulse out of the structure, good sign for continuation.
To confirm the buy move, watch for lower time frame bullish continuation correction to develop and complete, before consider your entry up.
thank you
GBPJPY Continuation Downside, Watch for sell setup
Hi everyone:
Here on GBPJPY, from the higher time frame, price is currenting developing the right shoulder of the H & S pattern.
We can then see on the lower time frame, price is in a larger expanding structure, correcting the price with a few swing highs and lows.
A lower time frame ascending channel pushing up the price, and a sharp reversal impulse down.
Good indication of the bearish price action in the making.
Latest price also formed a LTF bearish continuation correction,
so be on the look out for further downside if price formed more smaller correction along the way to the previous lows.
thank you
CHFJPY Prepare for the next bearish move
Hi traders:
Similar like EURJPY, I do see some good bearish confluence for possible selling opportunity.
We can see price has reverse from the top of the higher time frame structure, and a strong impulse phase to push down the price.
Naturally after an impulse phase, price falls into a corrective phase. This time its creating an expanding structure.
To confirm the further downside, we see price did push down on the lower time frame, and its creating a bearish flag continuation.
Now that price has manage break below, waiting for another LTF correction would be ideal for possible entry down to the previous lows.
And if price can manage to continue the impulse phase, then expect further downside from the price.
thank you
AUDNZD Reversal Price Action, Look for buys
Hi traders:
AUDNZD is in a larger descending structure, and the price is consolidating at a potential double bottoms on the higher time frame.
We can see price has made several swing highs and lows within the descending structure, potentially completing this correction.
Within the structure we can also identify the LTF descending channel as well, and now that price is impulsing up now,
be good idea to look for continuation bullish price action for a possible entry to the top,
If price does indeed breakout of the larger descending structure, and form further continuation correction then expect the move up to the next swing highs.
thank you
CADJPY Looking For Sell Setup Again
Hi traders:
Similar like few of the JPY pairs that I have posted, CADJPY is once again shaping up for the sell.
from my previous CADJPY analysis, the price did impulse down aggressively, , but did not continue further after hitting the lows.
Price then reverse up to correct into an ascending channel reversal.
This is an indication price is once again developing into another bearish price action,
and we can still expect the downside potential as the higher time frame point of view.
Latest development shows a clear impulse down follow by a pennant/triangle structure, can confirm the downside continuation.
Now that price has impulse down, wait for correction to form and complete to give us another possible entry to the downside.
Thank you
DOW JONES Can we expect the bearish move to continue ?
Hi traders:
Similar like my previous 2 analysis on the other US indices, I do also see DOW is shaping up for the bearish price action.
On the higher time frames, price has formed a larger ascending structure, correcting the price up.
As we know ascending structures are reversal in nature. So the bias is to look for potential selling price action development.
We can see the latest development, that a reversal correction was formed after a lower time frame push up.
Price then reverse and impulse down, out of the higher time frame structure, good indication for further downside potential.
Now that price has formed a LTF continuation correction,
be on the look out for further bearish price to continue IF price can break below the previous lows,
nd continue the down move to other previous lows as well,
Thank you
NASDAQ Same Bearish Price Action, Watch for sell
Hello traders:
Very similar price action development like SPX, here on NASDAQ its forming similar structures that could lead to the bearish move we have been patiently waiting for.
We can see price has been correcting in the al a larger ascending structure for quite sometimes now. Very similar like previous price action before Covid drop.
Latest price has a quick move to the upside, hitting the top of the HTF structure, but failed to continue higher.
Instead what we get is a reversal correction at the top, and if we get a confirmation reversal with a bearish impulse on the lower time frame, that could lead to the HTF move as well.
Be on the lookout for the last confirmation on the LTF, bearish continuation correction after the initial push down would be the ideal entry.
Thank you
SPX Third Time is a charm for the sell
Hi everyone:
Its always a good idea to have our weekly outlook on the market so we can prepare for any kind of development.
Here on SPX, the previous 2 analysis I had all had the lower time frame bearish move down,
but just wasn't ready to continue its bearish impulse phase further.
As price reverse up correctively and continue to develop the current price action structure, which is an ascending channel pattern.
As we know ascending structures are reversal in nature,
and there's good probability we can expect the same price action that has formed before Covid to have a higher probability of playing out.
What we can look out for this week is to wait for a clear lower time frame impulse down, breaking out of the ascending channel.
Then be on the look out for bearish continuation correction to form and complete, then look for the entry down to the next low as a potential target.
Thank you
Weekly Trading Recap: USDJPY, EURJPY, XRPUSD, Sept 11 2021Hello everyone:
Welcome back to this week’s trading recap video.
Let's take a look at the trades entered/closed this week from me.
I will explain my approach on the entry, SL, TP and management.
USDJPY:
First Entry: +1% profit.
Second Entry: Running about -0.5% loss
Full analysis/forecast:
EURJPY:
First Entry - 1% loss
Second entry -Running about +3% profit
Full analysis/forecast:
XRPUSD: Closed down for +1.5% profit
Full analysis/forecast:
Any questions, comments or feedback please let me know. :)
Thank you
Jojo
USDJPY Watch For Reversal Bearish Price Action
Hello everyone:
Also eyeing USDJPY for the JPY strengths in the market.
From my previous analysis at the top of the expanding structure, price did impulse down very aggressively.
After a strong impulse down, price begin its corrective phase,
and we are getting this parallels channel structure, as price continues to correct within.
The more swing highs and lows that we can identify, the better it is to recognize that we are in a consolidation correction,
and there is good probability that the bearish price can resume after the correction completes.
Now that price is at a lower time frame double tops, and consolidation at the top,
good to look out for any reversal price action to form and complete, then look for sell entries down to the lows.
thank you
EURJPY Multi-Time Frame Price Action Analysis, and Backtesting
Hi everyone:
Let's take a detailed look into EURJPY’s current price action, what my analysis and forecast so far,
and do some backtesting on previous prices to give us a positive outlook on the potential bearish continuation price.
Starting from the Higher time frame, clear double tops, and ascending channel reversal are very noticeable. Then the price had a bearish reversal impulse phase, pushing the price down.
After we begin to see a consolidation, forming a potential expanding correction, which can give us opportunity for a continuation of the bearish move.
Following up on my EURJPY analysis I post, I took 2 entries so far:
First trade - 1% loss
Price wasn't ready to reverse and correctively move sideways/up, tagged me out for a loss.
Second Trade - Enter after a rising wedge, “M” style reversal correction.
Currenting Running about +2%
Original Full analysis/forecast:
So 2 TP to look out for are:
Now, let's do some backtesting on the EURJPY previous price action.
From the Higher Time Frame:
Similar price action in the past, can provide us a higher probability trade to enter for the downside.
The more backtesting we do, the more confidence we get at identifying the next potential impulse phase where we can capitalize.
Any questions, comments, or feedback welcome to let me know :)
Thank you
Some backtesting video I made in the past:
Backtesting & Chartwork on Forex Market
Backtesting & Chartwork on Indices Market
Backtesting & Chartwork on Crypto Market
How & Why I backtest:
Prevent Blowing an account by backtesting:
EURJPY Another Sell Setups
Hi traders:
Looking at EURJPY here for a potential continuation bearish price action.
We can see after the impulse phase from the top, price correct into an expanding structure.
Within a few swing highs and lows, double tops, combining with a rising wedge reversal, giving me a bearish price action confirmation.
Now that price has broken down from the wedge, watch for lower time frame bearish continuation correction for possible entries down the the recent lows.
thank you
BTC/USDT Correction Prediction We experienced a massive dump/correction couple days ago. This was expected as Bitcoin pump to 52k very quickly. We might see an impulse then another correction (may be more) before BTC turn bullish.
I have broken into different zones according to supply and demand based on fear and greed -
Buy zone (Support) - This is a zone where there is high fear where retail investors do nothing, but whales and institutional investors buy and pumping the price up
FOMO zone - where retail invest buying after the pump/reversal
Sell zone (Resistance) - Where big players take profit where high Greed
According to this we might see an impulse towards FOMO/Sell zone then a correction toward the Buy zone 1 again. If that is breached then we can see the price dropping to Buy zone 2.
This is not financial advice please DYOR
LTC Further Up Move After Consolidations
Hi traders:
From my previous LTC analysis/outlook, we see price does indeed form the bullish correction and push the price higher.
Now that price has impulse above the previous highs, there's good opportunities for another buy opportunity.
Price is likely to consolidate here and form into a bullish continuation correction structure, so be patient and wait for price development
Once price completes the correction, expect another up move to the next highs as a potential target.
Thank you
MATIC Bullish Up Move is Promising, Wait for Confirmation buy
Hi everyone:
Also eyeing MATIC's bullish price action for another long opportunity.
We can see from my previous outlook, price indeed reverse from the falling wedge structure, and bullish impulse up.
Price is hovering around the previous highs, but in a consolidation, which is a good indication for another move after the correction completes.
As always be patient here as price can potentially create a longer/deeper correction, so wait for confirmation correction completes before adding into the buys.
Thank you
NZDCAD Watch for Bearish Price Action to sell
Hi traders:
Also eyeing NZDCAD's bearish price action to confirm the downside move.
Here we can see after the strong bearish impulse down from the top, price begin its consolidations.
We can see a clear parallel channel forming, with a few swing highs and lows.
Latest price also give us a potential double tops, lower time frame ascending channel to the top of current structure.
Wait for the reversal bearish impulse to push down the price, follow by bearish continuation correction on the lower time frame before entry.
If price does not develop the bearish scenario above, then no entry, no trade, move on to other opportunity.
Thank you