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Detail Analysis and Forecast On the current JPY's Price Action Hello everyone: Many have asked me about what I think about the current JPY markets, so I figure a quick analysis and forecast on all of them would be the best way. I did go over them in today’s midweek market updates, but let's take a look at them more closely here. Remember, these JPY pairs need to develop the bearish continuation corrections on the lower time frames first before considering the entries. In addition, it's best to choose and filter out the best pairs to get in, as entering all of them won't make sense from a risk management view. Any questions, comments or feedback welcome to let me know :) Thank you
Short
by jojofang0901
37
GBPUSD top of the price action, watch for drop Hi everyone: Also looking at GBPUSD for the bearish opportunities. Price has been in a long term, higher time frame ascending channel correction, moving the price up to the current area. We can see on the higher time frame, we approach to a previous high, which is also where price formed similar price action. A double tops, "M" structure within the HTF ascending channel, and strong breakdown from the price. Very identical price action here as well on the lower time frame. What we can expect the price to do now is complete this lower time frame ascending channel correction, and look for breakout of the price follow by more bearish correction to go. Thank you
Short
by jojofang0901
42
GOLD Buy or Sell ? Price Action Is Key. Hello traders: Lately many have been asking about where GOLD might be going, and the question is always whether to bur or sell now. From my point of view, there is no need to rush to jump into the position right away. Let the price comes to you when its ready and execute is going to be more consistent and sustainable. So lets take a look at the overall price action. We know the price is in a higher time frame correction, flag/channel structure that has been correcting since August 2020. The latest price shows us at the top of this HTF correction, and depending on how you would identify structure, looks like price is breaking out now. As always I talk about don't jump into the trades just because price breaks some trendline, S/R line or other indicators. Wait for confirmation with a clear breakout, and a lower time frame continuation correction is best. This would be the first option to look for if it develops into such. Where as the second option would be to see if price will fail to break higher, instead have a reversal impulse on the LTF, pushed the price down out of this current ascending channel correction, then look for bearish continuation down. Very similar like the previous ascending channel that the price formed. Overall from a higher time frame perspective and long term outlook, I still would like to see this HTF flag/channel finish correction and leads to the upside. But we also need to acknowledge the price may or may not be ready now for the upside move, and we need to adjust and have plan to manage if it doesn't. As I always say, let the price come to you. Plan your trade, trade your plan. This is how we can be more consistent, sustainable in trading for long term. Thank you
OANDA:XAUUSD
by jojofang0901
55
CADJPY Can We Expect A Bearish Move here Hello everyone: CADJPY also is on my watchlist to look for a potential sell opportunity. We can see price has pushed up from the expanding correction, but is not showing us a strong bullish price action. Instead price is rather corrective and within an ascending channel correction. From the HTF we know there is a potential double tops that the price is currently at, and all these lower time frame price action is indicating to us a potential bearish reversal could happen. To confirm the downside move, first let the correction completes first, and wait for strong bearish breakout and a bearish continuation correction to form and look for sell entry down. Thank you
Short
by jojofang0901
29
GBJPY Third Time's a Charm? Hello everyone: GBPJPY has once again move up to the top of the overall structure now, and there could be a third opportunity to sell. We can see from previous 2 sells that pushed down the price, but just failed to break lower and continue. This is a indication that price is getting ready for a bigger correction, and is still consolidating. Latest price finally made another move up to the top of the HTF correction, and we see LTF ascending channel correction as well as mini-double tops also. To confirm the downside move, wait for the ascending channel to complete correcting, and look for strong bearish breakout and continuation correction to get on on the sell. Thank you
Short
by jojofang0901
23
WAVESUSD Another Bullish Up Move. Hi everyone: Also eyeing WAVES for another bullish opportunity to the upside. We can see price had a strong bullish impulse surge to the upside, and is now forming correction. Naturally price needs time to correct the previous bullish move, and we start to see a bullish continuation structure, flag/channel in the making. Currently price is at the lows of the correction, so best to wait for a completion of the correction its in , and look for bullish breakout and continuation correction to go higher. Thank you
WLong
by jojofang0901
21
MATIC Good Bullish Continuation Opportunity Hello trader: Been paying attention to MATIC as the price has pretty strong surge for the last few months now. Looking at the price action on the lower time frames, we can clearly see bullish price action to continue push the price up. Smaller impulses and corrections are good sign of the continuation trend, which is what we see here. The latest price is once again correcting in the consolidation, further adds confluences to look for buy opportunities. Wait for this current correction to end and look for buy entries up to $2, and if price can impulse break above, the look for further LTF continuation to scale in more buys. Thank you
MLong
by jojofang0901
32
DOGE Is It Ready For the Upside ? Hello everyone: Let take a look purely in technical perspective in DOGE. DOGE's price has pushed down since the start of the week on Sunday, and to a recent lows around $0.35. From my last outlook on DOGE, I mentioned that if price was to pushed down pass previous highs and formed bearish continuation correction, then we can see potential further downside. However we can see the current price action on the LTF has show us otherwise. With the descending channel correction, a strong reversal impulse bullish move up, followed by a quick continuation to breakout of the larger descending channel correction. Good probability that the correction/consolidation could finished here. I would be waiting for a LTF continuation correction now as price broke out of the correction, or If no correction formed, expect one more moved down correctively with the channel, before the next up move. Thank you
BITTREX:DOGEUSDLong
by jojofang0901
63
Weekly Trading Recap: CADCHF, AUD/NZDJPY, EURCHF ADA May 15 2021Hello everyone: Welcome back to this week’s trading recap video. Let's take a look at the trades entered/closed this week. I will explain my approach on the entry, SL, TP and management. CADCHF: Running Position Full analysis/forecast: AUDJPY: - 1% loss Full analysis/forecast: NZDJPY: +0.5% profit Full analysis/forecast: EURCHF: - 1.16% loss from slippage Full analysis/forecast: ADAUSD: BE Full analysis/forecast: Any questions, comments or feedback please let me know. :) Thank you Jojo
BINANCE:ADAUSD
by jojofang0901
33
CADCHF Reversal Coming, Watch for Sell Entry Hello traders: Liking the price action on CADCHF for a bearish reversal. We can see the overall price has manage to correct the price up in the ascending channel correction. There is a double tops, "M" style correction reversal as well, and we see strong bearish breakdown from the price. Last confirmation here is to wait for a LTF continuation correction to develop and complete to look for a sell down to the previous lows. Thank you
Short
by jojofang0901
58
Ethereum Classic - When to get in on the next buy Hello everyone: ETC has managed to push up quite a bit since the beginning of 2021. We can clearly see a strong higher time frame bullish impulse move, pushing up the price to the upside. Naturally, the markets needs to correct the bullish phrase by forming some kind of correction structure/pattern. In this case we start to see a clean descending channel correction. AS we know, correction can certainly go in indefinitely, so its best to have a plan and management to get in. Few scenario I can expect the next move up would be, Price continue to correct within the channel, as long as its corrective price action move down, then we can see expect the price action to complete eventually. This will lead to the confirmation breakout from this descending channel correction, and I would look for some sort of lower time frame continuation correction to get in the on the buy to the previous highs of the correction, and the all time high as the next target. Patient is key to wait for correction to complete and confirmation breakout and continuation is key. Thank you
KRAKEN:ETCUSDLong
by jojofang0901
60
NZDUSD Look for Sell Setup Hi everyone: Few USD pairs had some strong bearish move today, and lets look for possible opportunities on them next few days. NZDUSD is looking clean for a breakout and continuation price action. We can see price had the initial strong impulse phase from the previous ascending channel, and it starts to correct into another ascending channel. Latest price action s on the LTF showed us a mini double tops, "M" structure for reversal and strong bearish push down. What I want to see from the price is a break below the previous lows, and a LTF continuation correction to form and get into the sell to the previous lows. IF price can break below that level, then further correction is expected to push the price even lower. Thank you
Short
by jojofang0901
37
SPX Bearish Price Action For Sell Hello everyone: Also looking at the US indices for bearish opportunities. From the HTF, we can see price made another sharp move to the top of the correction, but instead of continuation price action, we are seeing a channel like correction that failed to push price higher. Instead, the latest price had a strong bearish impulse down, breaking below the channel, so to me that is a reversal correction. I would then look for LTF continuation correction to get in on the sell down to the previous lows and low of the HTF correction. Thank you
OANDA:SPX500USDShort
by jojofang0901
26
NZDJPY Watch For Bearish Breakout and Continuations Hello traders: Looking at NZDJPY's price action for further selling opportunities. We can see a HTF ascending channel correcting the price up to the previous highs, double tops. On the LTF we see a "M" structure, Mini double tops, and a rising wedge. All good bearish price action to give us confirmation for a strong reversal from the top. Similar like AUDJPY price is breaking to the downside now, since its getting close to the bottom of the channel, best to wait for a confirmed breakout follow by LTF continuation correction to get in. Thank you
Short
by jojofang0901
12
HBAR Breakout ImminentHBARBTC has been consolidating in a falling wedge over the past 2 months, retracing nearly 36% from its prior rally (as of May 10). This consolidation pattern corresponds to wave (iv) (corrective) of an 12345 impulse structure, so I expect HBAR to rally to new highs upon breaking out. The On-balance volume and MACD DEMA are exibiting positive (bullish) divergence, while the RSI is exibiting hidden divergence. Furthermore, the Stochastic and Sotchastic RSI are oversold and about to cross bullish. The last time this happened, HBAR rallied nearly 30% over the span of 7 days.
Long
by otis_bagshots
AUDJPY Double Tops, Look for Sell Setup Hello everyone: Looking at the price action on AJ for potential short opportunities. From the previous impulse phase, price begin to form the channel correction, sideway movement. Latest price did push the price up, but its where the previous swing highs was. We see a small LTF ascending channel to correct the price up. Now we see a strong sharp bearish move down, so last confirmation for me is a LTF continuation correction to get in on a sell down to the lows. Thank you
Short
by jojofang0901
35
Cardano Look for strong bullish continuation price action Hello everyone: Cardano has always been on my watchlist for the next bullish move. We can see a strong higher time frame bullish impulsive phase, and now the price is in this larger correction. Latest price action continue to correct, and now formed a double bottoms within the correction then impulse up. These are great price action from a multi-time frame perspective. I would wait and see if price can break out of the HTF correction, and look for LTF continuation correction to get in more. Thank you
BINANCE:ADAUSDLong
by jojofang0901
56
5 Best Crypto to trade and/or to hold (BNB, ADA, XRP, DOT, LTC) 5 Best Cryptos to trade and/or to hold from a technical, price action point of view. (BNB, ADA, XRP, DOT, LTC) Hello everyone: The recent question I've been getting is what cryptos to trade or/and to hold. Certainly trading and investing (holding) would be different, so I thought I would outline some coins that have good price action and technical in my view at the current market condition. Make sure to have your own plan on whether you are trading them or investing (holding), as they can certainly have different outcomes and management needs to do so. Remember please also take into consideration risk management and trading psychology as well. Don't put all your eggs in one basket, spread out your $ to be stable and sustainable. BNB ADA XRP DOT LTC Any questions, comments or feedback welcome to let me know :) Thank you Jojo
BINANCE:BNBUSDLong
by jojofang0901
53
DOGE The Last Hurrah or To The Moon ? Hello everyone: End of the week, lets take a look at DOGE and its up coming potential outlooks. Purely looking at it from a technical point of view, the current price has broken above previous ATH level impulsively, and its forming continuation correction currently. One way to look at this would be waiting for a this correction finished, and look for LTF breakout and correction to get in the next impulse up. On the other hand, certainly price doesn't have to break above, instead drop below the previous highs, and formed bearish continuation correction to push to price all the way back to the previous lows. All joke aside, I am leaning more towards a bullish bias and outlook. Will see how the market development next few days. Remember, there's a different between trading a crypto with or without leverage, vs investing (holding) crypto. Different trading plan, risk management, trading psychology to consider. Trade your plan, plan your trade. :) Happy weekend everyone. Jojo
BITTREX:DOGEUSD
by jojofang0901
66