Pairs
Video Review Of AUDCAD Top Down Analysis / Market ReviewHello Traders.
My name is Opeoluwa aka Opizzlefx and i have created this video to explain my view on AUDCAD and my projection. I started my analysis from the WEEKLY timeframe gathering all my information that i need to make a decision on the lower timeframe. If you need to understand this simple method just message me privately.
Thanks for Watching
Regards
NZDCAD H1 Intraday ShortsTriple retest + rejection at supply on a Lower High (LH) with nice bearish momentum on the candles. Looking to take it down to support!
EURUSD Longs (H4)Higher low channel formation on EU, quite a nice hold at support and bull momentum swing upwards. Looking to target previous highs as first TP, going further to 1.1220 area potentially.
Overall, on weeklies we still maintain a bearish bias, as price is trending downwards without a clear reversal pattern indicated as of yet.
TRADING IDEA --- NOT AN INVESTMENT OPPORTUNITY!
USDCADI wanted to take a deeper look into USA and Canada. When looking at techs and fundamentals, there looks like there could be some space here for a run as we go through our interest rate spikes etc throughout this year. On the daily timeframe, I doubled the ATR for my stop loss and the target is near the 60% area which is where the previous high's are on a higher outlook as far as time. Let's see what happens over time. We are currently in a range of higher high's and I would like to see if we are getting the same pattern (look at circles). I'll wait as long as I can for this one.
I compared the following statistics to try to get a more fundamental outlook vs depending on straight technical:
GDP per Capita Differential (Lesser amount wins) - USA
Productivity -USA
Unemployment Rate Differential (Higher amount wins) -USA
Government Spending (Higher Amount wins) -USA
Business Confidence differential (Lesser amount wins) -USA
Consumer Confidence differential (Lesser amount wins) - Canada
Consumer Spending (Higher amount wins) -Canada
What do you think? I'm looking for a more long term outlook here. This will be my only forex trade this year. Might scale in on this position over time if things work out.
XAUUSDGold is continuously in triangle range. Can say poll kind of pattern creating after good long run. But this is my personal view, and I have a right to be wrong.
eurusd short signals?!!i think eurusd is stuck in a triangle and two paths that i show maybe works for the rest of week
and im looking too sell on that area or if eurusd break his triangle and confirm that im looking for buy but its probably wont happen
plz share ur idea about eurusd and tell me what you think about my idea
i hop have profitable day this week
Pullback on AUDCHFI am waiting for pullback. it will be happen Otherwise i will enter After the resistance broke.
Daily BNBETH UpdateFor those of you who trade on Binance this chart is of more interest. With BTC, ETH and BNB being the major trading pairs on Binance it's good to understand which of the three is outperforming over time. While ETH has been outperforming both BTC and BNB for some time, over the last week we can see in this chart that the tables may be turning towards BNB. Both the RSI and ADX are showing BNB displaying new strength over BTC and ETH. I'll be watching this chart closely and if this continues will rebalance my portfolio to have a greater weighting in BNB over the other two. At this point I don't consider any real trend to be in place, however, it could well be the start of one.
NZDUSDI want to keep this as simple as possible. It seems like we are in a consolidation area. I want to see if price will continue to retrace the smaller high's and low's within the red horizontal lines. I'm thinking the usd may be suffering due to the imbalance of imports and exports. This is just an idea and may not be correct. I would love to see another breakout to the upside but until then, I'll look for positions within this red zone and see what can be done.
EUR/USDAlthough we've been on a bearish trend since March, there has been a few moments where price has tested its previous "lower" high. As you can see by my triangles, price seems as if it is ready to retrace the previous high. On the 2 hour timeframe, I saw a strong bullish candle cross the 200 day ema with the current candle opening above the previous one. Last time there was a retracement was more than likely back in August on the 4 hour time frame where price retraced about 38% of its previous high (May 2021). Let's see if price can retrace our previous high up to at least 38% or more before the bearish trends continues. You would think the usd is stronger but it seems like since 2008's crash, the dollar has progressively been getting weaker. With our current economic situation having slow growth, I plan on riding this retracement up until the chart tells me different.
ADAUSD ascending Channel Creates Basing PatternImportant things to note:
BTC Flagging for another push.
Altpairs led by ETHBTC are starting to move.
ETH completed IH&S and moving up, alts will follow once bullish trend established. (over 4024).
ADA is range bound in slight ascending channel.
Ascending channel creating basing pattern.
Expecting small break to downside followed by bounce.
Bounce will create 2nd part of cup.
Cup pattern will be base for future targets.
Important dates:
BTC ETF Deadlines Nov. 21, Dec. 8, Dec. 11 and Dec. 24.
Hey everyone! Today will be quick because there is not too much going on. Btc is flagging for another push upwards. Altpairs led by ETHBTC are gaining steam and looking great. I have told you in the past, big investment money is rotating into alts for the coming altseason. I know this for a fact. ETH completed IH&S pattern like I mentioned before and it is starting to move. I figure alts will follow slowly once it closes above 4024. ADA is currently range bound in a slight ascending channel. This is great because you can see it is forming its basing pattern. I expect a break but I do not think it will be too dramatic. I think there will be a nice bounce off of support from the break which will create the 2nd half of the cup pattern. This is very important because the cup can easily turn into a cup and handle and be used for future major targets. This is what I am looking for at the moment. The worst case scenario for all of this like I said before would be a move to the diagonal support and a brief touch of the 200MA but that doesn't seem likely right now. We will take it day by day and see what happens. Well, that's it for today! Thank you all for the support and if you have any questions let me know. I will continue to watch ADA and update you all accordingly. Cheers!
I am going to make a video soon teaching everyone my approach to charting. I will cover the entire workflow process I go through. I hope you enjoy it.
Tell me what you think?
This is not financial advice. DYODD.
GBPUSD UpdateThis post is just an update on how my previous post is playing out.
OB.1 has been reached, time to let it dance towards OB.2.
GBP/CAD | Potential Upward Movement 🚀 Technical Analysis:
The pair found buyers around the 61.80% Fibonacci retracement level which led to a move upward and it violated the highlighted zone. We are expecting a lower correction toward this zone before a new move upward in the same direction of the main trend.
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Trade Idea:
Buy Limit Order @ 1.73328
Take Profit @ 1.74268
Stop Loss @ 1.72866
Trade Safely 🙂
AUD/USD | Potential Downward Movement 🔨Technical Analysis:
The price is bouncing inside a bearish channel formation where we have a downward movement. A higher correction could be seen to the higher end of this channel. The sellers will join the impulsive wave to the downside after the pullback near the trend line resistance.
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Trade Idea:
Sell Limit Order @ 0.7371
Take Profit @ 0.7342
Stop Loss @ 0.7386
Trade Safely 🙂
CAD/JPY | Potential Downward Movement 🔨Technical Analysis:
The price found sellers around the 50% Fibonacci retracement level which led to a breakout of the bearish pennant formation to the downside after posting a head and shoulders. A higher correction is expected around the 87.96 USD mark before a selloff all the way down to the target profit.
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Trade Idea:
Sell Limit Order @ 87.96
Take Profit @ 87.13
Stop Loss @ 88.23
Trade Safely 🙂
AUD/USD | Potential Upward Movement 🚀 Technical Analysis:
The price succeeded to break the bullish wedge to the upside. A lower correction is about to be posted around the 0.7466 USD mark. This could cause a reversal and a move to the upside in the same direction of the main trend.
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Trade Idea:
Buy Limit Order @ 0.74660
Take Profit @ 0.75320
Stop Loss @ 0.74400
Trade Safely 🙂
EUR/NZD | Potential Upward Movement 🚀 Technical Analysis:
The pair has posted a correction count to the strong support around the 1.7038 USD mark where it found buyers around the 61.80% Fibonacci retracement level. The market moved little bit higher but we expect a lower correction before a huge rally to the upside.
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Trade Idea:
Buy Limit Order @ 1.70605
Take Profit @ 1.71176
Stop Loss @ 1.70356
Trade Safely 🙂
EUR/CHF Potential Upward Movement 🚀 Technical Analysis:
The price is bouncing inside a bearish channel formation to the downside before it posted an inverse head and shoulders which led to a breakout to the upside. A lower correction might be seen to the highlighted zone before a move to the upside in the opposite direction of the main trend.
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Trade Idea:
Buy Market Order @ 1.08997
Take Profit @ 1.09266
Stop Loss @ 1.08892
Trade Safely 🙂
GBP/JPY Potential Upward Movement 🚀 Technical Analysis:
The price is bouncing inside a bullish flag formation. It has a bias to break to the upside which shows that most probably the pair will continue its main direction to the upside, but before a lower correction might be seen to the highlighted zone.
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Trade Idea:
Buy Limit Order @ 154.84
Take Profit @ 155.60
Stop Loss @ 154.46
Trade Safely 🙂
GBPCHF Short idea Hey guys, We can see another rising wedge pattern on GBCHF on the 1h timeframe. It also made a breakout to the downside. We could see a possible retest but i feel it is a strong sell area from a technical standpoint.
