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NATURAL GAS – Week 11 – 2 scenarios in play.As forecasted in our previous analysis, Natural Gas continued to consolidate, reaching the support area located at $2.6. For this week, we will study two scenarios: 1. Blue arrow scenario: If the price breaks the resistance and the orange trendline, we gain confidence that we will re-test the $3 area. 2. Orange arrow scenario: If the price continues to move correctively around this area and breaks the support, there is a high chance that we will be heading towards the orange dashed line. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
NLong
by financialflagship
20
USDJPY, Huge RR Short Available.Gooooood morning traders! Hope you're all having a beautiful start to the week because our dear friend USDJPY definitely is. After making an extended cycle upwards, price has hit our D1 Bearish Orderblock and created an M30 BMS structure allowing us to look for a high probability short position. I've set two pending orders at these price levels with a stop just slightly above the shift candle. I'm looking to trade price back down to the D1 Propulsion Block; however, along the way I'll be taking some partial profits. As the trade matures and progresses I'll inform you all of the places where I'm looking to slowly scale out of my position. Although the D1 Propulsion Block is my final TP for this trade, I can see price potentially trading even lower down to 105.640 Happy Trading everyone. Remember that this is my personal trade idea, take the trade if you wish at your own risk. Please manage it well, I would personally advise no more than 1-3% of your total account equity. Hitting a trade of this caliber with 1% risk will yield 15-20% in profit, so you can trade small and still grow your account extremely well over time. Best Wishes, -AmplaFX
Short
by Jiraiya_eth
EURGBP - LongGood afternoon ladies & gents, EURGBP has presented us with a bullish structure. After correcting downwards to the H4 Breaker, price hunted below yesterday's low followed by giving us a Break of Market Structure on the M30. Price came down in New York Gap time to pin the M30 bullish orderblock which confirms our entry. We entered with a stop below the bullish orderblock. As the institutional orderflow is still bearish, we're just aiming for a short term target of the D1 bearish orderblock where we're anticipating a reversal based setup. I wish you all good luck and good trading.
Long
by Jiraiya_eth
1
Bitcoin. More correction?#Bitcoin #XBTUSD #Daily #Tommy - Here is XBT daily chart. After a massive bullrun up until 42k, Bitcoin has broken the blue upward trendline below and has been on its correction phase. - Making lower highs and lows, it is currently forming a falling wedge. Moreover, it’s testing the support of the inner upward trendline which I have marked it with yellow dotted line. - At the same time, it is testing the short-term bottom around 30400. It has been a great support for last few days but doesn’t seem that it will last long. - So for those traders waiting for more correction, make sure the daily candle closes under both the yellow inner trendline and the 30400. - In Elliott Wave theory perspective, I have interpreted the correction structure as WXY where another 5-3-5 zigzag ABC correction waves are to be expected. - Here are some of the supports that I am considering. 26500~27500 (valid until 2/4) 23500~24500 (valid until 2/6) 19300~20300 (valid until 2/11) - Traders wishing to enter long on these supports, make sure to consider the validation date.
BITMEX:BTCUSD.P
by Tommy_Trader