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Priceactiontrading

GBPCHF: Price Action Analysis & Forecast 🇬🇧🇨🇭 GBPCHF is testing a strong horizontal resistance. Here are multiple bearish clues that I spotted after the test of the underlined area: the market was rejected heavily, forming a sequence of rejection candles, the price formed a head and shoulders pattern and broke its horizontal neckline, the pair violated a support line of an expanding wedge pattern. I believe that the market will most likely drop lower soon. Goals: 1.1117 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
8
NZDJPY: Trend Following Setup Explained 🇳🇿🇯🇵 NZDJPY is trading in a long term bullish trend. The price broke and closed above a key daily resistance this week. After a breakout, the price started a correctional movement within a bullish flag pattern on 4h time frame. Retesting the broken structure, the price bounced and violated the resistance of the flag. It will most likely trigger a trend-following movement. I expect a growth to 89.65 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
7
GBPJPY: Bullish Pattern... Again! 🇬🇧🇯🇵 No surprise, GBPJPY is trading in a bullish trend. However, after the price reached, 183.77 level at the end of June, the pair started to consolidate. The market formed a cup and handle pattern on 4H time frame. Its neckline breakout will be a very strong trend-following signal. 4H candle close above 183.88 will confirm the breakout. A bullish continuation will be expected to 184.5 level then. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
BWA: 6% upward potential to current HH 🐂 Trade Idea: Long - BWA 🔥 Account Risk: 1.00% 📈 Recommended Product: Knockout 🔍 Entry: +/- 48.28 🐿 DCA: No 😫 Stop-Loss: 45.29 (46.67 for aggressive trade) 🎯 Take-Profit #1: 51.05 (50%) 🎯 Take Profit #2: - 🎯 Trail Rest: Yes 🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨 If you like what you see don’t forget to leave a comment 💬 or smash that like ❤️ button! — BorgWarner is in a larger uptrend and currently finished its consolidation to the former HH (higher high), doing a liquidity grab there, and closed yesterday above it’s last LH (lower high) above the consolidation downtrend. We therefore assume that BorgWarner will at least test its current HH from the larger uptrend with possible upward potential from there. This trade is based on price action alone. — Disclaimer & Disclosures pursuant to §34b WpHG The trades shown here related to stocks, cryptos, commodities, ETFs and funds are always subject to risks. All texts as well as the notes and information do not constitute investment advice or recommendations. They have been taken from publicly available sources to the best of our knowledge and belief. All information provided (all thoughts, forecasts, comments, hints, advice, stop loss, take profit, etc.) are for educational and private entertainment purposes only. Nevertheless, no liability can be assumed for the correctness in each individual case. Should visitors to this site adopt the content provided as their own or follow any advice given, they act on their own responsibility.
NYSE:BWALong
by LGNDRY-Capital
Learn How to Trade Cup and Handle (rare but profitable pattern)☕ If you are studying a price action, you should definitely know Cup and Handle formation. Being applied properly, it can generate big profits. In this educational article, I will teach you how to identify this pattern. We will discuss its psychology and I will share with you 2 trading strategies. 📏And let's start with the structure of the pattern. The pattern has 3 important elements: Cup - long-term correctional movement that tends to move steadily from a bearish trend to a bullish trend. Handle - short-term correctional movement with signs of bullish strength. Neckline - upper horizontal boundary of the pattern - a strong resistance that the price constantly respects. ⚠️Being formed, it warns you about a highly probable coming bullish movement. The trigger that confirms the initiation of a bullish wave is a breakout of the neckline of the pattern and a candle close above. Here is the example of a completed C&H with a confirmed neckline breakout, indicating a highly probably coming bullish movement. Depending on the preceding price action, Cup & Handle Pattern can either be a trend-following or reversal pattern. 📉If the pattern is formed after a bearish impulse. It is considered to be a reversal pattern. Here is the example of a reversal C&H that I spotted on EURUSD. 📈If the pattern is formed at the top of a bullish impulse, it is considered to be a trend following pattern. Here is the example of a trend following C&H that I spotted on GBPJPY Index. The thing is that while the price forms the C&H, buying volumes are accumulating. Even though, buyers are hesitant and reluctant initially, their confidence grows, and the accumulation leads to explosive neckline breakout. There are 2 strategies to trade this pattern. ✔️Strategy 1. That approach is quite risky, but the reward can be quite substantial. You should monitor the price action when the price is forming a handle. Occasionally, the price starts trading in a falling channel: parallel or contracting one. Your trigger will be a bullish breakout of its resistance and a candle close above. Once the violation is confirmed, you can buy aggressively or set a buy limit order on a retest. Stop loss will lie below the lows of the channel. Target will be the closest key resistance. Here is the example of the handle being a falling channel. 📍Strategy 2. Wait for a breakout of a neckline of the pattern. Once a candle closes above that, it will confirm the violation. Buy the market aggressively or set a buy limit on a retest of a broken neckline then. Stop loss will lie below the lows of the handle. Target will be the closest key resistance. Here is the example of the trade based on a confirmed breakout of a neckline of C&P on NASDAQ Index. Applied properly, the strategies may reach up to 70% win rate. As always, the best pattern will be the one that forms on a key level. Try it, test it, and good luck in your trading journey. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
9
GBPUSD: Could the FOMC set up a resistance break?Today's focus: GBPUSD Pattern – HH HL continuation Possible targets – 1.2683, 1.2980 Support – 1.2305, 1.2493 Resistance – 1.2640, 1.2660 Today’s focus is on the GBPUSD after buyers made another strong move higher on Wednesday. That move continues the series of HLs and HHs this is a good thing to see in the current short-term uptrend. As discussed in today’s video, our attention is now on key resistance that has stood since May 22. Could a dovish tone from the Fed set the USD up for more downside? We did see a fightback after the CPI data and the Core remained high at 0.4%. If the Fed hold rates and hint more towards the dovish side in the statement, could that set the GBPUSD up for a new test or break of resistance, setting off a new trend continuation? For now, the GBPUSD, despite its short-term bullish move, remains consolidation bound.
Long
by Eightcap
GBPCHF: Bullish Move From Key Level 🇬🇧🇨🇭 GBPCHF is trading within a wide horizontal daily zone of demand. Take a look how the price reacted that that area on 1H time frame: first, the price broke and closed above a resistance line of a bullish flag pattern, a double bottom pattern was formed and its neckline was broken then. Chances are high, that we will see a pullback from the underlined structure. Goals will be 1.1295 / 1.132 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
8