Priceactiontrading
GBPJPY: Very Bearish Pattern 🇬🇧🇯🇵
Perfect bearish reversal on GBPJPY:
the price formed a head & shoulders pattern on a daily time frame,
broke and closed below its neckline then.
I think that the market will go much lower soon.
Next support - 160.05
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GBPCHF: Time to Sell? 🇬🇧🇨🇭
We have spotted a confirmed neckline breakout of a head and shoulders pattern on GBPCHF on a daily.
Analyzing lower time frame this morning, I spotted a falling parallel channel on 4H time frame.
We see a positive bearish reaction from its upper boundary.
I expect a bearish move to 1.118 now.
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NZDUSD - 0.60672 Zone ReachedMy 1st TP at 0.60672 has been reached successfully. I now expect a retracement back to 0.56300 (my initial BUY AREA). I did take partial profits when the 0.57700 was broken then added more BUY positions at that point. I have now closed all NZDUSD positions.
If you can read what market-makers are doing in the market YOU WILL BE HIGHLY PROFITABLE....BELIEVE ME!
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Do check out my previous analyses in the "Link To Related Ideas" section.
USDJPY - 3rd Target Reached AgainUSDJPY has respected my analysis. I did mention in my previous analyses that USDJPY is going to fall back to my 3rd TP. I have closed all positions. Money's in THE BAG!!! I'm now watching the market-maker's moves. They are currently fishing for STOP LOSSES at the 140.800 zone. This zone is now a very important zone.
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Do check out my previous analyses in the "Link To Related Ideas" section.
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TRADING REQUIRES A LOT PATIENCE, PROPER RISK MANAGEMENT AND HIGH LEVEL OF PSYCHOLOGY!!!!
CADCHF: Bearish Continuation is Highly Probable 🇨🇦🇨🇭
CADCHF pair is trading in a global bearish trend.
From the beginning of October, the market was correcting within a rising wedge pattern.
Its support was broken yesterday.
I believe that the market may drop soon to 0.7245 / 0.72
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GBPAUD: Bearish Breakout & Bearish Continuation 🇬🇧🇦🇺
I spotted 2 breakouts on GBPAUD on a daily time frame:
first, the price broke and closed below a rising trend line and violated a horizontal key level then.
The underlined blue area on a chart is a potential reversal zone.
I will expect a bearish move from that.
Goals: 1.7414 / 1.7266
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DOLLAR INDEX (DXY) Finally Overbought? 💵
Dollar Index retests the recently broken major trend line on a daily.
Retesting that, the market formed a double top pattern on 1H.
I believe that now we may expect a correctional movement.
Goals:
112.0
111.2
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GBPUSD: Detailed Technical Outlook 🇬🇧🇺🇸
Here is my technical top-down outlook for GBPUSD.
The pair has recently broken a major falling trend line and a solid horizontal supply area.
The broken structures turned into supports now.
The closest resistance that I see is 1.168 - 1.174 area.
Analyzing the intraday perspective, I spotted a falling wedge pattern on 4H time frame.
I believe that the next bullish move may initiate after its bullish breakout.
Monitor the underlined green supports for buying opportunities and look for a confirmation on lower time frames.
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End of Day Trading using Price Action Daily ChartsHey Traders here is a quick video that explains how to use End of Day Trading in your trading strategy. Learning to trade without emotions getting involved during the trade is important for developing discipline. I think that learning to trade when the market is closed is one of the best ways to achieve this. Also using japanese candlesticks with support and resistance, trends can very important. In order to find the best entry on the chart I think it is best to wait until the market has closed. That way you can see clearly the market psychology for the day. Taking the loss too soon or taking profit too soon are all mistakes that I think can be avoided by also using End of Day trading.
Enjoy!
Trade Well
Clifford
USDCAD: Can We Go Higher?! 🇺🇸🇨🇦
Update for USDCAD.
Earlier, we have nicely predicted a pullback from the underlined green zone.
Analysing a 4H time frame today, I spotted a bullish breakout of a wide supply zone.
It may trigger a further bullish continuation.
Goals: 1.3728 / 1.3816
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US30 Short Lived Long > Big Sell OffRed Zone = Market Participant
Long Term: Will be looking for transicional switch in the 1, 3, and 5 minute at blue top zone for a short opportunity.
Short Term: Will be looking for a buy after the pull back in top purple zone with a 1, 3, and 5 minute transicional switch / follow through.
Analysis Time Frame: 4 Hour
Sniper Entries
Short Term: Wait for the buy/long around 31,600 area for a move of around 1,000 points.
Long Term: Wait for the sale/short around 32,700 area for a a move of around 4,000 points.
AUDNZD: Classic Trend Following 🇦🇺🇳🇿
Update for AUDNZD pair.
After a strong bearish impulse, the price was consolidating for some time within a horizontal trading range.
This morning, its support is finally broken.
I suppose that the price will drop soon to 1.1 level.
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Big Move incoming on USDJPY Huge volume spike on levels not seen for since May 2022
Could this pair be loosing steam and a potential move to the downside lurking??
Price in an ascending channel
RSI exaggerated divergence
snapshot
The recent price action was very similar to the BOJ intervention 22/09/2022,
Using factual theory's we could see price bounce from this area but unable to capture new highs creating a Quasimodo pattern - if true then the entry will be on the break of 146s.
The downward factual pattern was taken from 14/07/2022-02/08/2022
USDCHF: 2 Scenarios Explained 🇺🇸🇨🇭
Update for USDCHF.
The price is currently approaching a key daily structure resistance.
Depending on the reaction of the price to that, I see 2 potential scenarios:
If the price breaks and closes above the underlined blue zone on a daily,
a bullish continuation will be expected to 1.02
Analyzing intraday time frames, I spotted a triple top formation on 1H time frame.
1.0036 - 1.004 is its neckline. If the price breaks and closes below that, I will short the pair.
Targets will be 0.9985 / 0.9935
Wait for a breakout, then follow the market.
What do you expect?
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EURCHF: Bullish Continuation 🇪🇺🇨🇭
I am not a big fan of a cup and handle pattern,
but here on EURCHF, we have its perfect example.
The price has already broken the neckline of the pattern.
I believe that the pair will reach 0.9855 resistance soon.
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CHFJPY Buy/Long1: Trendline Breakout
2: Symmetrical Triangle Pattern Breakout
When looking at the larger time frames, we can see that CHFJPY is bullish . We have also seen the market pull back which signalled a chance to enter in the direction of the bigger picture trend.
We have listed 2 reasons as to why we will be looking to buy the pair. The trendline breakout on the daily chart signals shows the pair might have gained interest of buyers. The symmetrical triangle
pattern breakout further adds to our narrative of a continuation to the upside.
GBPUSD: Time to Sell?! 🇬🇧🇺🇸
GBPUSD finally reached a major falling trend line on a daily.
The price formed a double top on that on 4H and broke its neckline then.
I expect a bearish move to 1.116
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️