The GBPUSD has broken down from a bearish price pattern, touching the monthly trendline at 1.1800 before rebounding to retest the previous breakdown level at 1.19254. We anticipate a potential reversal from this level back to the downside, although there is also a possibility for the price to continue rising towards 1.19984 before reversing...
NZDCAD DOWN TRIANGLE Break pattern and close candle below Pattern Then Active Short Trade and Target Support Area.
I would write a bunch of nonsense here including how the MAVS are lining up and RSI is blah blah blah, but if youve traded before a day in your life you understand what it is you are looking at and for the reasons why its happening, well: US DOLLAR = TRASH GOLD = UP CUP & HANDLE = TRADE IT GENIUS
Here we see USDJPY in its final push upwards. As we can see by the chart 138.00 is a very significant level for TWO reasons 1. It is a major FIBO level that is retesting the overall DOWNTREND that we are on from a WEEKLY perspective, this has been a necessary retracement to the massive downward trend that we had begun late last year. 2. It is the 1.6 FIBO...
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*Everything is mentioned on the chart. I hope it is easy to understand. *Don't jump in to trade at the beginning of the market. let it get settle for 5 min 15MIN first and judge price action. *Avoid gap up or gap down chase. Wait and trade between level. Note: Trade with strict stoploss. It may or may not hit all the levels. So one can book profit / loss at...
We now wait for the NFP! Here we have the silver chart in-front of us! We are currently within the range of lows: 19.800 highs: 20.450, Pattern: Triangle/ Bear flag If we are to go above key resistance area and above 50EMA + TL resistance I expect first target to be 20.750 areas and then 200 EMA areas which is around next resistance zone of 21.400. However, we...
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The double top we had was invalidated twice, creating a smaller double bottom pattern, which is already broken and now retested. A potential target is 20320, and above that price, we have a big hole in VPVR, which can help the price rise above this level too. To me, this seems like a fake out, based on the waves indicator at the bottom, but the long option is possible.
CAD - LT/MT Idea! We have a lot of dollar buying end of flows, end of month. We saw that in most of the majors shifting. What's really key to me is we are seeing US data take a hit US indices, it is time to take into consideration what could happen next with the FX majors. Here's a glimpse of what I think of CAD: This chart is based purely on Technical aspect....
oh, yes today was a volatile day, while Powell gave his testimony, the market moved a bit up and down.. With the news yesterday, that the increases may continue, the market was in a panic since a few weeks ago It was assumed that there would be no increases. Surprise the Fed did it again. But currently the market must price in .50 and who knows if .75, what I...
EURJPY - Trade idea! This post is purely based on technicals! Pattern: Wedge/Triangle - A break to either direction. Highs: 145.575 Lows: 144.030 If it breaks the highs expect your target areas to be 147 low areas & If it breaks the lows expect your target areas to be 143 areas (200 EMA). Be careful of false break outs and we do have a busy day on the docket...
This Is JUST An IDEA. AUDCAD BULLISH BUTTERFLY PATTERNS . IN AUDCAD H4 Timeframe Have BULLISH BUTTERFLY PATTERN TAKE PROFIT Are GREEN LINES. Be joyful and give to another one.
During a congressional hearing on Tuesday, Federal Reserve Chairman Jerome Powell announced that the central bank is expecting to raise interest rates multiple times in the coming months. Powell also stated that the Fed would be ready to speed up its monetary policy tightening if necessary. This announcement is consistent with previous hints from other Fed...
Important areas of supply and demand based on price action
AMC at a point of decision. Breaking $6.50 and dragon pattern near confirmed. Targets reaching as far as $10. From here overall channel outbreak and would not be inclined to stop there. Support at $6, then $5.8. Which would lead to nasty H&S dropping towards $4-$5 area.
Few USD pairs to watch out for the next few days and weeks. Remember the difference between having a bias, and confirmation for entry. We can have a bias of a possible pair, but do not enter trades unless they are confirmed by price action. DXY EURUSD USDCAD AUDUSD GBPUSD
Hello traders: Looking at USDCAD here on the higher time frame, I cant help but point out the bullish price action in nature. The overall structure looks clean from the bullish move up, and a larger correction, with multiple swing highs and lows, forming the correctional structure you see right now. From last year, during September 2022, we see a strong...