Trade idea - EURUSD Short4H
Corrective approach towards entry zone.
= Sell limit
Bearish W pattern also there as extra evidence.
1% risk.
Nakedcharts
USD/JPY Potential LongPotential USD/JPY Setup to go long once we have the pullback on the demand area of the analysis. Targeting the liquidity pool above, lots of upside potential.
BURSA 24 FEB 2023UP, KEEP
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
FKLI 23 FEB 2023UP, SL 1464.5
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
FCPO 22 FEB 2023DOWN, SL 4226
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
A Bearish Downtrend Nearing the Resistance Line Overall, it's a bearish downtrend for the 1H timeframe.
Price can be seen being rejected with beautiful price action in the 5 mins candles, conservative traders can wait for another confirmation with Stop Loss above the new resistance.
Please seek further confirmation in the lower timeframe.
No more than 0.5% risk per trade, control risk management very strictly.
How to Understand Price StructureI have put together the basics of how to read a chart without indicators.
This is a key skill for anyone who wants to become a profitable trader. Clearly theres much more that goes into reading charts than just what is here but this is the key foundations of reading how price works and how to make trade entries with a good chance of profitability.
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USD CAD - Want to know where is Smart money taking price ? Smart money took out the equal lows and captured a tonne of liquidity from retail traders on 26/5 which led to
a strong bearish move down, the target ? was to mitigate orders thatchy were in drawdown in from old contracts, after mitigating and filling in the imbalance of price action created on 9/3/2020, Smart money then commenced instigated reversal (as expected), now heading up the open contracts (where they are in drawdown). This has created a bullish environment and no doubt without liquidity grabs along the way.
I expect price to reach 1.38500 - 1.39500 and cause a reaction as they close out their orders.
So traders, as we have established a bullish bias , we are looking for long set ups, proceed with caution as liquids will be grabbed along the way up so you need to time you buy entries. Want to know and talk more about how I came to this analysis ? get intouch always happy to help other traders
USDJPY - The Trend is your friend..until the bend in the end!USDJPY does not seem to be correlating with the DXY unlike EURUSD.
Smart-money clearly has an agenda here and it is highly probable that they are heading to the area highlighted (in blue) where we can see some imbalance in price action in the daily candle (26th March). So this area is where I will be focusing on and looking at (thats why I put the eye icon there)
Expectation is for the imbalance to be taken care of before price retraces.
Looking for Short this pair after my reversal confirmations have been met. What reversal confirmations you ask ? ...well thats the million dollar question! Get in touch to know more about how Smartmoney moves the markets and how you can benefit from their moves without the reliance of lagging indicators all over your charts.
EUR USD Where will price go ? Here is my projection No doubt you will agree with me that EUR USD is looking extremely Bullish at the moment, but how long will it last?
My expectation is that price will hit the 1.13-1.135 area highlighted, then look to turn around from there.
Smartmoney took out and grabbed the liquidity ($) from the late March highs as expected after taking the highs out from April and May.
I do not expect into take out the High of Mid march the institutional candle highlighted should be respected and may get a reaction at the wick or open.
Looking to go short once price action shows is tell tale signs of reversal and looking to ride the trend down making big profits along the way.
This is naked chart analysis, pure price action with zero indicators. Want to know how to trade with an edge ? Get in touch, always happy to help.
EURGBP FORECAST FOR SELL OPPORTUNITYWell, EURGBP has cleared out orders at the base above. Now I'm going to wait for the 69 Entry opportunity.
My long term projection for EUR JPY Note this is a long term projection based on daily price action.
As expected liquidity was taken from the equal highs of February, March and April, the next step is for Smart money to push price
higher to mitigate the weekly candle which is overlapped by the institutional candle of 13/1/2020, also meeting an institutional price level of 122.00.
After mitigating this area, price is expected to retrace down to mitigate the imbalance of price action created during the most recent bullish rally and the remaining liquidity which is still left to take, look out for a high probability retrace.
Now after knowing our short term and long term bias we can start taking trades along the way.
Want to know more about how I trade? get in touch, happy to help.
EURUSDEURUSD one of my personal favourite pairs.
With this we are watching price on the lower timeframes (1D,4h,1h) move sideways so some good buys and sells at Support & Resistance but the overall picture is we are fast approaching a key level that as been respected since 2003 and this is where we could see price go into the Accumulation phase before EURUSD finally coming out of its downwards trend.
