US30 BUY 01/18US30 is truly my favorite pair to look at and I look at it consistently everyday, I try to keep it simple with my analysis so it doesn't seem overwhelming due to the volatile movements, with that being said I am expecting a BUY since price is now back at the bottom of our channel
Note: Price has been in a Flag Channel since MARCH 2021
Major Structure:
Monthly/Weekly/Daily -
Price has been In an Bull Flag for a few months now, for major structure I have price still BULLISH creating a HH/HL, although the economic factors like Covid 19 (Omicron, Delta Variants), Inflation (@ all time high 7%), Labor Stats, Short Squeezing etc. could cause some sort of Correction/Crash
Major/Minor Structure:
4HR/1HR -
Price is just about to hit our -61.8 Retracement on our Fibs for Major Structure, which means we should expect some sort of Reversal in price which is another confluence for our BUY
Minor Structure:
1HR/30MIN
Price is heading towards our -61.8 Fib Level on Minor structure as well, with it being Wednesday and this being our Intraday timing, HOTW is currently on a Sunday, but I'm expecting a Mid week reversal with the LOTW either being made on Wednesday night or London session Thursday, with a Rally to follow into Friday and making its HOTW.
I'd love any feedback or commentary from those knowledgeable of Fibs, major structure or use a similar strategy ..
From C
Majorstructure
Will there be enough bullish sentiment after capitulation?In order for ETH/USD to maintain the support of the bull trend it has been in on the weekly time-frame all these months, there will have to be an enormous amount of bullish sentiment.
The bearish price action on shorter time-frames throughout the entire crypto space at the moment suggests that there will soon be a capitulation phase that will certainly bring ETH's price well below this support.
All hope is not lost, however, as a weekly candle wicking below the support with a green body close and tiny to non-existent topside wick would be a VERY strong bull hammer candle.
On a weekly timeframe, especially if there is a ton of volume for that candle, will be a strong signal that the trend support will continue to hold throughout the rest of the calendar year.
However, failing to return above the support before weekly close after the capitulation will very likely result in an extended bear market with a true market bottom somewhere in 2022 or 2023.
This may or may not coincide with Bitcoin and other cryptos.
I intend on trading coin-margined ETH futures as well as continuing to accumulate ETH in spot markets to maximize my ETH holdings throughout this consolidation or bearish reversal / bear market.
Eventually, ETH will break its all-time-high, and I will want to have accumulated as much as humanly possible during this long-term Ethereum sale.
AUDJPY WEEKLY. APPROACHING 10-YEAR LOWS. AUDJPY approaching major area of value.
With the brief exception of the financial crisis price
hasn't breached these lows in over 15 years.
Will be favoring longs. Keep an eye on price action
at the level and be on the lookout for buy setups.
Tremendous upside potential comparative to the risk.
Good luck!
NZDJPY WEEKLY APPROACHING MAJOR SUPPORT. BIG OPPORTUNITY AWAITS.NZDJPY is approaching major historic support
offering some fantastic risk vs reward long-term trading opportunities.
I'll be favoring longs as price continues to head lower.
As I'm favoring longs at this level, I'll be keeping an eye at this
level to see how price action responds looking for buy setups.
GBPJPY - Entering BUY Zone - Potentially 250 PIPS up for grabs140-139 is a key support level on the daily candles
Plan is to enter a smaller position now and add size at 139.30 if there is a break below 140.00.
Stop loss is set below 138.50
First resistance level of take profit level is 142.70 and 144 in extension
EUR/USD Long Setup - Major daily support level of 1.1530 holding up as we can see several candlestick rejections on the H1 timeframe
- Bullish divergence on the H1 using both stochastics or RSI which paint the same story of unsustainable price decline
- EUR/USD seems to be ranging just above this key level before it decides to break 1.1620 and aim higher
- 60 pips target with 35 pips stop
FTSE SHORT PROJECT (H1/H4)Good day (and night :-)), All!
FTSE* FOREXCOM:UKXGBP has been moving within grand triangle structure since May 2017.
Currently, minor WW is shaping as the index bounced of point 4 and is heading North to point 5 (basically the wave is forming right in between the borders of the triangle).
Once successful and if major violet formation holds well, it can provide a very interesting opportunity to go short.
Double bottom lookout on the EURJPY Hourly - Bullish opportunityHello traders,
If we have a double bottom at this level, I will looking for a reason for going bullish. Notice this double bottom would be at major structure support and we have a RSI oversold. For agressive traders, you could enter after close of bullish candle. For more conservative traders, you could wait for a 2618 formation to enter bullish.
Hope this helps !
Bullish Butterfly At Major Structure on USDCAD!As I am getting ready for my live trading room, I came across this very nice butterfly pattern that will complete at this major structure level. Now I normally don't trade butterflies, due to the fact that they complete below X, and this is where i place stops on the other advanced patterns I trade.
But when I get a setup like this, well now I have a structure zone to place my stops under.
This pattern will potentially complete @ 1.3021, which is right at the lows of this major structure zone. Minimum stops should be below the structure zone, and even if you want to put your stops below 1.30000, you will still have an excellent risk/reward ratio for both target 1 and target 2. As always, follow your trading plan.
If you would like to join me in the live trading room, here is the link: www.youtube.com
Good Luck and Good Trading!
Breakdown of EurJpyThe EurJpy is now up into a major structure zone here on the 240min TF. We have structure, fibonacci confluence and a Bear Setup on the Stochastics (which is what the red arrows are pointing to). If you are looking for a longer term hold, this has a ton of potential.
If you would like to watch me break this down, here is a link to the video. youtu.be
Good luck and good trading!
TCT Using Advanced Pattern as entry Technique
There is a potential trend continuation trade on the USDJPY -0.72%
Building a case for Entry
1. Major Structure Support
2. AB=CD Harmonic move terminating at structure
3. Advanced Bat pattern Completing at structure
I'll be using the bat pattern as my entry technique to get into the trade. As far targets go, you could shoot for the conventional targets or trade this as a TCT where you target the previous structure high, exit half your position, roll stops to breakeven and probably shoot for the 127 extension for extended targets. Cheers!
Bullish Gartley at Major Support Level!You have a potential bullish Gartley pattern that will complete right at the major support level on the GbpJpy. This support level has held since the decline after Brexit, and it is as good a place as any to look at getting long. Add the Gartley pattern completion and you have a nice potential setup.
I just put out my weekly forex preview on my you tube channel where I break down this setup along with a few others. Here is the link to the video youtu.be
Good luck and good trading
Consolidation & Trend continuationThe pair is still in a strong downtrend on the higher time frames. In the medium term price has found balance and has consolidated and we have a good resistance zone between 163.900 and 166.000 offering a good entry location if we get a weak pullback towards that zone. If the zone holds we should see another move down towards at least 156.000 and if that handle folds the 148.000 would be the next major level to look out for.
AUD/CAD: APPROACHING A POTENTIAL REVERSAL ZONEFX:AUDCAD is currently in a symmetrical triangle, if the price breaks out to the upside, we are looking to short once it gets to the reversal zone, there we have a 618 fibonacci retracement plus a 1.272 extension in confluence with a very nice Supply/Demand Structure Point.
Remember: Eyes on your mind not on your trade
CORTES TEAM
USDCAD FOR BETTER Risk/ Reward ENTRY AT STRUCTURE!Looking at USDCAD we see that the RSI is heavily oversold. I am long in the gartley pattern since 1.2837.
For those traders how might have missed this pattern, you get a second chance with much better RR ratio.
Remember you follow your plan!
Best of luck, Felix.
Website: www.ogtpartners.com
Twitter: goo.gl
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GBPJPY Potential short opportunity at major structure resistanceHere on the sunday opening we are looking into having a short in place if price hit´s the major structure resistance we are running into. The formation of an advanced cypher pattern may give us a defined rules based entry, not right at the resistance, but we hopefully catch the move with the entry at the PRZ 162,025
Have a good week in the markets
Kind Regards
Thomas Jeff
Closed under weekly support - Further downside to be expectedThe GBP/AUD has been in a bear trend since the end of August last year. Just recently the bears were able to pull price underneath the even handle 1.90000 and keeping in there for 2 weeks now. The next weekly support came in at around 1.87000 and for now it has absorbed the selling and rejected lower prices. But as long as we do not get a close above 1.91000 I will be looking to short this pair. Right now I see two good levels to sell from. The first comes in at 1.8880 and the second one at 1.9050.