Weekly Market Breakdown - My WatchlistHere we look at some of the trades I took at the beginning of the month, and what I am looking at for this week
Majorpairs
Weekly Market Breakdown - My WatchlistHere is my weekly market breakdown for what I am watching for next week
It is also re-capping some of the trades that I am currently in and have taken.
Hope it can be of some benefit to you.
Any questions feel free to ask
Have a great weekend guys and girls
USDJPY CONFIRM THE BEARISH MOVES (TECHNICAL ANALYSIS) USDJPY CONFIRM THE BEARISH MOVES
it was noted that the ninja pair had been waiting for a confirmation in regards to pushing the price of the market towards the April 22, lowest point.
However, It all a came out of the tight range momentum the market has been undergoing in the past few days, luckily during the London trading session on Wednesday the volatility of the pair has managed to escape out of the hand of weaker volatility and it regains strength which tends to be stronger than ever before.
On the flip side, before the confirmation of the bearish move, when looking at the 4hour time Frame market players will noticed that there is a build up forming below the mid of the tight range price action, hence this build up should serves as a confirmation or an area of value where entry point and stop loss should be marked with.
To be precise the price of USDJPY eyes a negative correction along the lines of the April 22 lowest price level which is recorded at 107.810.
To prevent yourself from suspicious brokers I choose WikiFx to research brokers:
VERTEXCHARTS | GBPUSD TRADE IDEAGBPUSD is moving in a descending channel.
The pair is falling from the resistance line of the channel.
Like and Comment to Support this idea
GBPJPY H4 - SHORTPrices will be looking to liquidate the wick, tapping into the supply zone before giving us a shift in structure. We may be looking for a pullback onto a demand area on the lower timeframe before the secondary buy-side that liquidates highs into the supply.
LONG POSITION ON USDCHFUSDCHF following a symmetrical triangle on a higher timeframe (Daily).
We have already seen a sell off and its ready for its retracement to the upper trend line.
EURUSD DIALY TIMEFRAME ANALYSISEURUSD has formed a symmetrical triangle by forming lower highs and higher lows. The trend is currently on the resistance zone of the symmetrical triangle and is on the verge of reversal.
Confirm reversal for a LONG positioning.
Our Stochastics is also in the oversold region.
$USDJPY - Short this Bearish flag patternHello everyone!
USDJPY continues to proceed downwards in a descending triangle, there should be one final drop before the trend reversal I believe.
Wait for a breakout or short here, beware of the volatility of tomorrows Consumer confidence stats.
DXY looks very bearish.
AUD USD ShortHello traders and analysts,
We have our sells activated - the reason behind this is looking on the weekly timeframe - the wicks have been removed by the recent candle closes on the daily.
Trade 1 has been taken,
Trade 2 - un-activated - as price may attempt to settle around 72.XX
Upcoming
We will share our new analysis for DAX30 soon.
We cannot see a specific level holding for the future.
Why are we selling?
Aussie budget looked to really help alot of average Australians, but failing for Queensland to open to NSW and Tassie, WA for freedom of complete movement will be damaging as Summer season comes.
Stimulus is provided but Scomo's government is worried about the deficit.
USD side:
Price is volatile - during the election process in the US, the worlds relationships are affected
The election is coming closer <30 days.
The S&P500 and NAS100 are not shown here but use reference for our previous ideas to show where price has reached our over exposed markers.
The stocks have recovered well from a V - shaped recovery, too fast with big price action gaps.
Dollar is strengthening.
Shift in presidential change of power?
Covid 19 - second wave has concerned EU governments - with further pumping of money to "control" the costs of job losses and curb closures.
We have established a great supply or essentially a strongly overvalued market again in quick succession, however price will be giving some good areas to sell this aligns with Commodity currencies like the Aussie.
This is a long term sell. price can and will invalidate.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
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Team Lupa
Analysis and Update Major PairsThe Pairings this week has been fantastic!
We expect corrections in the pairs or pause.
GBPUSD-Possible Strong Bullish Momentum?-There are two ways in which we could enter this pair on which is either to enter on reversal to the demand zone
-Or either we enter at the breakout of the 1.26133.
-Either way there is strong bullish momentum indicated by the break of the ascending channel.
-The 50 EMA is also showing the bullish signals for this pair.
-We will have to wait to see how price will react to these levels and look for strong bullish candle confirmation for entry.
GBP/USD - SELLOpportunity to short the GBP/USD. USD strength is still weak but the pair is at a good location for a short. ???
USDJPY- Bullish Symmetrical Triangle-If Bulls take control of this pair then I will wait for a breakout of the triangle and look to enter on the retest.
-The 50EMA is below price which indicates bullish trend of the pair.
-Top down analysis from the Daily and 4 hour show bullish trend and signals.
-I will wait for a strong bullish candle on the retest and then I will enter a long trade.
USDJPY Retracement PossibilitiesWe have some room upward and technically this pair is trying to rebound from higher period SMA 200 RED (dynamic support). Fundamental wise we knew till this day that king didn't wanted to back off! I had earlier created a bullish bias idea on this major pair but I messed up with fast entry as overall I knew from the beginning this was mean to happen ( I mean the continuations upward). Dollar was hiding it's potential from the beginning and until it made mood to fall apart most of counter parts will suffer the pain I reckon.
GBPUSD SELL OPPORTUNITY GBPUSD is traded below downtrendline
Price broke corrective uptrendline
Below Moving Average 100
Price is based below HVN @ 1.3118
Rejected from resistance level @ 1.3080 and 61.8% fibonacci level
It's expected for coming strong bearish movement to support level @ 1.2906
USDCHF BUY SETUPUSDCHF retested broken major downtrendline
Price is rejected from Moving Average 100
Price is supported on uptrend on RSI
Key level @ 0.9825
It's expected for coming bullish wave to target HVN near level 0.9825
DXY Bullish BiasAfter the FED decision on first rate cut in over 10 years, cutting its interest rate by 25 bp and formalized the end of QT (Quantitative Tightening), ending the fundamental expected for the market to break the weak resistance level. Forming a strong bullish candle on the weakly chart and still having some clear room for more bullish momentum, where in confluence with MACD buying signal with Stochastic and RSI still not in overbought zone. Giving opportunities in major pairs for nice entries this week.
Aussie/Dollar: 70 Cents Rocket Launcher Towards 80 Cents?Hello my dear Aussie-Dollar traders & Forex friends, hope you're doing well mates! ;)
First of all, let's have a look at the last analysis before I take the drawings away:
=> We can see that the Double Bottom saw follow-through, but obviously we're still grinding at the 70 Cent psychological, with the crucial resistance of the previous Descending Triangle at 0.704.
=> We're currently rejecting from this zone. If we break the 70 Cents down, we will look to build a higher Low compared to 0.685 on the weekly. Otherwise we will look towards a bounce from 0.685
On the other hand, if we can keep the 70 Cents range, we could look towards a potential break higher into the low 70ies.
I wanna bring the monthly chart again to your attention: The 0.685 is a crucial potential Double Bottom on a much bigger scale , with the first touch back from 2015/16.
=>If the bulls fail the react here, they could become toast and fall towards the 2009 lows.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
USDCAD Long Swing TradePotential Long Position in the USDCAD market. Details and analysis in the attached note.
USDJPY OPPORTUNITY USDJPY still downtrend on big frame. It ranging on smaller frame, but in my opinion, it likely to go uptrend when the price breakup (more information, you can check the arrows).
Recommendation: place the order when it break the wall. don't too much speculations with place order before it break.
USDCAD .618 fib level tested, inside barInside bar broken to the downside after we tested a .618 retrace of bearish swing from end of June. Expecting the price to retest the breakout of the downward channel and corresponding horizontal resistance, now support. Its a bit risky considering the Canada GDP data are due tmrw morning. But I like the set up.
Dan
EUR/USD Bat pattern completed.The bat pattern is now completed. Looking for price to retrace to FIBO 0.236, bounce for head and shoulder pattern completion. Then taking out support at 1.1907. And continuation of trend towards parity.
