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USDCAD Short opportunity could be in play by end of next weekHappy Weekend Traders, Thank you for your likes and questions. If you have any queries feel free to message me. I have had a few questions around how I build my analysis for the week. Here is one idea, I am looking at, I haven't placed a trade but is on my watchlist due to the below: Bias: Short USDCAD Type of idea: Swing Please note: This chart is 4hr but the EMA is based off the Daily chart. I have used 4hr chart as a way to identify the price action so I can get into the trade early if it moves in my direction but not too early just in case it is noise. Rationale: 1) Price has reacted between the Daily Chart 100EMA (Red line) & Daily Chart 50 EMA (Amber line) 2 times ( see pink circles) 2) Long term the pair is in a down trend 3) Near term the pair is in a down trend (Black line) What am I waiting for: 1) USA news release next week (PMI, Non-Farm, Unemployment) I am not going to trade these releases but merely keep an eye on the release and see how positively or negatively it impacts the pair. 2) If news is negative for USD and price closes below Daily Chart 50EMA I will place a short 3) If news is positive for USD and price moves above Daily Chart 100EMA I will not place a trade Point to note traders: Be careful of all USD pairs this coming week due to the news releases (that is only if your strategy doesn't include trading news releases). If you like it give it a thumbs up and I will post a follow up should this pair move in favour of my bias. Have a great weekend, Happy Hunting!
Short
by Piphunter1887
GOLD update Good day traders !!! On gold we are looking at a short setup because we got again into the descending channel again and it seems that we had some sort of fake breakout of the trend line. Also we just completed an "M" formation on the daylight timeframe and we retested the neckline and rejected it. We are looking for a short setup on the short term but be cautious with everything that is happening with the stock market because it has a big impact on commodities as well. Now if you enjoyed this analysis like and share. If you have a different opinion comment below as I would love to have some more insights about this pair. Trade safe !!1
OANDA:XAUUSDShort
by TheDayzen
2
GOLD to 1840, Buckle up !!!Good Day Traders !! On Gold as we expected the price dropped to the demand Zone and broke the trend line ! On the Monthly timeframe we have an overextended W formation and we just tested and rejected the neckline. Down on the weekly timeframe we have an "M" formation and we have confluence between the neckline of the weekly and Daily "M" formations. Also it happens that the neckline on the daily timeframe is exactly the 0.618 Fib retracement on the previous leg. With all of that being said we are looking at a potential opportunity for long in the short and mid term for gold. From an institutional perspective we have hedge funs and non commercials institutions adding a massive amount of long position on gold and this impulse to the downside could be considered as an accumulation of liquidity before the real launch. Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. Trade safe !!!
OANDA:XAUUSDLong
by TheDayzen
2
USDCHF DAILY SHORT TRADE- double big up & down bar is mean the price is rejected the resistance + supply zone - after breaks-out the head & shoulder pattern, the price is in the up trend - short will small position to demand zone or long when price test demand zone + support level with clear price action - if you look the volume, you will see it is increase around the head & shoulder pattern, specially the big bear bar with a large of volume. it's mean the shark started this long trade and they killed retailer investor tried long or short before. the momentum is too strong.
Long
by dangngnuyenbusinv
Backtesting retest Break of Market Structure on Multi TimeframeStrategy Create a zone from the order block which created break of market structure on 1D timeframe Wait for it to be tested on 4H timezone => which will create new 4H order block Trade the retest of that 4H order block Color coding & icon use Green boxes : 1D order block zone Yellow boxes : 4H order block zone Tick icon : Trade won on 4H Cross icon : Trade lost on 4H Circle with cross icon : Trade in breakeven Win / loss assumptions Win : 3R movement without breaking -1R Loss : -1R movement Breakeven : 1R movement, followed by -1R movement Risk Management 50% TP @ 1R 25% TP @ 2R 25% TP / Trade closure @ 3R RR achieved = 3R Net R achieved = 1.75R Strategy results Testing duration : Jan 2020 - Jan 2021 Wins = 16 Loss = 7 Breakeven = 4 Non-losers = 74% Absolute Winners = 59% Net RR = 21 Avg R/Win = 1.31R Avg R/Trade = 0.78R
Education
by makuchaku
8
EURUSD is resting to do a big jumpEURUSD has broken its resistance of 1.2000 after a consolidation of 130days. it also has broken major resistance of 1.21000 strongly. to continue , this pair needed a rest, last week eurusd was in a bullish flag and one time tried to break that. the zone of 1.21 is a key level i think. in this zone we have major SR zone , and as you see in 4H the EMA50 is waiting for price just close to 1.21 I personally will open a long position in this zone just in case i see a 4H signal .target can be 1.25000 but of curse we will face barriers near zone of 1.22. just note, if price close lower than 1.2100 it can come to start from 1.2000....so wait for signals.... position will be long anyway but just keep an eye on zone of 1.21.
Long
by asharifan
2
How to trade a Range / Real case on EUR/AUDGood morning traders! Today we detected a trade opportunity in the EUR / AUD pair and we want to share with you in detail how we perform a multi-timeframe analysis to develop a setup. 🔸The first step is to start on a high timeframe chart in order to see the long-term behavior, whether it is in an uptrend, downtrend, or range. 🔸What we see on the daily chart of this pair is that it has been moving within a range for several months without a clear main trend. Of course, inside this range, there are internal trends of less temporality, which is what we will use later to be able to develop the setup. 🔸Talking about the price situation at this time, we see that it is coming out of a support zone that was tested multiple times, and that each time it faced that zone it generated an upward movement. Because of this, we are now expecting the same behavior. 🔸Decreasing the timeframe to 4H, we are preparing to analyze the short-term behavior. 🔸Following the bounce in the support zone, the price broke to the upside the Descending Trendline, this was a strong bullish sign. The problem with this break is that there was a Resistance zone very close, so we needed this zone to be penetrated to the upside before looking for an opportunity. 🔸This is what happened a few days ago. The price generates a bullish breakout, and not only that, but also begins a corrective process in a throwback to the support zone (previous resistance). 🔸Due to all this confluence of factors, we consider this pair to be a good opportunity. 🔸Using the cloning of the first impulse as a movement objective, it offers us an excellent risk-benefit ratio.
Long
by ThinkingAntsOk
1
Using My strategy to create High Profit backtests ConsistentlyI created a strategy and an alert system based on simple indicators that can produce very high results. I think I am going to start posting some of my results weekly, open for critique. I've actually been using my alerts in the live market, and with pretty good success, but I figure it is always better to have some constructive criticism. I have a ton of experience with my scripts, and I built in a ton of margins for error, so results in real life are actually better than posted. Not sure if I have a talent, or it is just hours of experience, but I am able to create backtests similar to the one shown in a couple of minutes. The backtest shown is for the past year, from November 2019 to November 2020, and it's on BTC on a 2 hour time frame. Let me know your thoughts on it! If anyone is interested, I have the strategy open source for everyone to use and to learn from,but my alert system that matches up perfectly with it took some time to build so I kindly ask for $10/month for anyone to use it, BUT I will also send you free configurations to use, similar to the one below, on any coin or any chart that you invest with. I can create great backtests on ANY CHART using my strategy and techniques. I always aim for a mixture of high percent profitability and obviously net profit. Does anyone have any criticism/doubt/suggestions on my backtest? I'm always looking to learn on how to get better.
by nhbprod
NZDJPY - Muti TF Technical Analysis - 6 year trendline & SupportThis is a high probability trade with an almost 6 year trend line that we broke out of this month sitting on a well tested formerly supply zone, now demand. That's it. Simple trade. 😇 The Daily price action appears to be slowing down so should be primed for a buy right at the trend line. Set your TP wherever you like but I'll probably set the initial TP at 73.5 but have it trailing at 1xATR and ride the incoming trend. Please follow proper risk management. I use 1.5x Daily ATR which puts my SL at 225pips. Pretty large but as a more volatile pair, this could easily test your resilience and have a large DD before going in your direction. Buy at the DD and don't be the DD 😅. Happy trading
Long
by aylbfx
GJ 120 pips Sells BreakdownPrice broke below the support we highlighted, however as there was no lower wick on the 1h breakout candle, price had no clear range to move down, so instead of moving to the lower timeframes to look for selling confirmations, I stayed on the 1h timeframe and decided to look for a break and retest setup, as it was not on a lower timeframe my confidence for this trade was pretty good. As soon as we tapped into the broken support zone, I took an entry with half of my usual risk, stops were above the previous candle and my TP was highlighted on the chart. Profits were taken at each of the support zones as we tapped into them, this lowered our risk and secured profits. When we hit our final target, we removed our TP and let 10% of the trade run, the target for this was 135.887, as this was a possible rejection zone and also 120 pips profit. This target was also hit before price formed support to continue back up.
Education
by rhf_fx