Swing & positional trading opportunities for next week (30 May)Here's our watchlist for the coming week. Prepared with @AVENUESOFINVESTMENT. What are your picks?
Priceactiontrading
EURJPY: Your Trading Plan 🇪🇺🇯🇵
I spotted a very cute bullish accumulation pattern on EURJPY:
the price keeps setting higher lows and equals highs respecting a strong horizontal resistance.
To catch a bullish continuation, wait for a bullish breakout of 136.8 resistance.
Then a bullish move will be expected to 137.86 / 139.7 levels.
If the price breaks a trend line of a triangle, the setup will be invalid.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
DOLLAR INDEX (DXY) Bearish Wave is Coming? 💵
Hey traders,
This week, Dollar Index broke and closed below key daily structure support.
Now we see its retest.
Analyzing the reaction of the price to the broke structure, I spotted a cute double top formation on 1H time frame.
Its neckline breakout will most likely trigger a strong bearish move.
First goal - 101.7
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
SILVER (XAGUSD) Bearish Scenario Explained 🪙
Silver leaves bearish clues again:
reaching a strong horizontal supply area the price broke a support line of a rising wedge pattern on 4H.
It looks like the market may drop.
Closest support - 21.37
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
CADCHF: Bearish Breakout & Bearish Continuation 🇨🇦🇨🇭
CADCHF broke a solid key level last week.
Retesting that the pair formed a descending triangle formation on 1H time frame.
Its neckline breakout confirms a coming bearish movement.
I expect a bearish continuation to 0.7545 / 0.752
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Dow Jones Index (US30): Can We Go Lower? 📈
Hey traders,
As I predicted, US30 dropped again this week and set a new lower low lower close on a daily.
The market is currently trading within a falling parallel channel perfectly respecting its boundaries.
Next week I will expect a bearish trend continuation within the channel.
Be prepared for a further decline.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
3 Important Terms Every Trader Must Know | Trading Basics📚
Hey traders,
In this post, we will discuss 3 very important market situations that every trader must be able to recognize: breakout, retest, and fakeout.
❗️Please, note that the essential element of all these terms is structure: vertical and horizontal key levels.
📍Breakout is a situation when the market breaks the identified horizontal support or resistance, or a vertical trend line.
Breakout is a very important event that signifies the willingness of buyers/sellers to violate the structures. Violation of support signifies a strong selling pressure while a violation of resistance signifies a high buying momentum.
Usually, the structure breakout is confirmed with a candle close.
For confirmation of a breakout of support, a candle close below that is needed.
For confirmation of a breakout of resistance, a candle close above is required.
📍Retest is the situation when the price returns back to broken horizontal support or resistance, or a vertical trend line after a confirmed breakout.
For a structure breakout, high trading volumes are needed. Usually, after a breakout, the market participants are locally exhausted and a correctional movement follows. That may lead to a retest of a broken structure.
Most of the time, after a retest a strong impulse follows. For that reason, for many traders, the retest is applied for trading entries.
📍Fakeout or false breakout is the situation when the price has not enough strength to maintain its direction after a retest of a broken structure. Instead, the market returns back below/above the broken resistance/support.
Fakeout is one of the main reasons, why structure traders lose money.
One of the ways to avoid fakeout is to monitor trading volumes during a structure breakout. A volume spike is needed to confirm the strength of the market participants while low volumes most of the time signify a manipulation.
Learn to spot breakouts and false ones, and try to trade on a retest.
Let me know what do you want to learn in the next post?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
USDCHF: Your Trading Plan For Today 🇺🇸🇨🇭
USDCHF is taking off from a horizontal key level.
To buy the pair with a confirmation, watch a double bottom formation on 1H time frame.
You need a bullish breakout of its neckline 0.9742 - 0.9762 to confirm a coming bullish move.
Goals will be 0.9825 / 0.9855.
If the price sets a new lower low, a setup will be invalid.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GBPJPY: Your Trading Plan For Today 🇬🇧🇯🇵
Hey traders,
GBPJPY is approaching a very peculiar zone of confluence on a 4H:
we see a perfect match between a horizontal resistance, falling trend line
and fib.retracements of the last two impulses.
To catch a bearish move from the underlined zone,
wait for a breakout a bearish flag pattern.
You need 4H candle close below its support to confirm that.
Then a bearish continuation will be expected at least to 156.55 level.
If the price breaks the blue zone to the upside,
the setup will be invalid.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
What to Expect From EURUSD This Week 🇪🇺🇺🇸
Multiple time frame analysis on EURUSD.
Price action and key levels.
Directional bias and thoughts.
❤️Please, support this video with like and comment!❤️
Interesting Price action on GBPUSDVery interesting Price action on GBPUSD, Price is currently trading around 1.24250, We have strong Psychological resistance at 1.2500 which is also untested and could hold as a strong level for price to reject, We need to keep in mind that price has a current short term bullish trend due to strong weekly support at 1.22 which has held. This could drive the price up into 1.26250 where I will then be looking for long opportunities, right now we can only focus on the evidence in front of us, we have price still in a strong downtrend based on higher timeframes, and we have a strong psychological resistance approaching, and strong potential for price to reject, so, for now, I will be looking at potential shorting opportunities if the price remains below 1.2500 where price could dive into 1.22680.
EURAUD buy opportunity Planbuy Plan for EURAUD , always prepared for loss
entry based on price action at the point of interest area
my plan idea is always based on multitimeframe analysis, fibs, pattern move, market structure and common sense
ES Futures Trade IdeaTrade idea for the ES futures taking a look at a possible long and then a short
using Action Reaction Lines and Price Action to tell its story
NZDJPYwait for price touch the supply area in the 82.353 after that we wait for the confirmation...
thanks.. :))
ow to Apply Trailing Stop | PRICE ACTION TRADING 📚
Hey traders,
In this post, I will share with you my strategy to apply a trailing stop.
Please, note that I am applying a trailing stop only in trend-following trades and only when a trade is opened on a key level. I trade price action patterns, so the following technique will be appropriate primarily for price action traders. Moreover, my entries are strictly on a retest.
1️⃣
Spotting a price action pattern I am always waiting for its neckline breakout. (if we talk about different channels, then by a neckline we mean its trend line)
Once I see a candle close below/above the neckline, I set my sell/buy limit order on a retest.
Stop loss will strictly lie below the lows of the pattern if we buy and above the highs of the pattern if we sell.
2️⃣
Once we are in a trade, you should measure the pattern's range (distance from its high to its low based on wicks) and then project that range from the entry to the direction of the trade.
In the picture, the pattern range and its projection are the underlined blue areas.
Once the price reaches the projection of the pattern's range, you should move your stop loss to entry and make your position risk-free.
Move stop to breakeven in traders' slang.
3️⃣
Then you should let the market go.
📈If you are holding a long position you should let the market retrace and set a higher low and then a new higher high or AT LEAST an equal high. Once these conditions are met you can trail your stop and set it below the last higher low.
📉If you are holding a short position you should let the market retrace and set a lower high and then a new lower low or AT LEAST an equal low. Once these conditions are met you can trail your stop and set it above the last lower high.
Catching a trending market you should trail your stop based on new higher lows / lower highs that the price sets. Occasionally you will catch big winners.
How do you apply a trailing stop?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
BTCUSDT intraday reached the peak of the last upward swingBTCUSDT intraday reached the peak of the last upward swing. Now, as we can see on this chart, BTCUSDT price action is reacting to 78.6% Fibonacci retracement level which is a key level to shorts. Actually the price is in a potential reversal zone. Considering the reversal from this peak the price accomplished a prior zizag with this pullback for a expected downward. The local support is the demand to reached in a 2-day swing trade. Overbought condition as can be read on Ehlers Stochatisc CG oscillator.
Plus a comparing price line from LinkdownUSDT of Binance to show to you an option to avoid of the liquidity risk. Don't be FOMOed and a moonboi will safe you of losts.
GOLD (XAUUSD): Time to Grow🥇
Hey traders,
After reaching a major rising trend line on a daily,
Gold leaves a lot of bullish clues.
The price broke and closed above a resistance line of a falling wedge pattern on 4h.
It looks like the market is preparing for a strong bullish move.
I will expect a bullish continuation to 1887 / 1906 levels.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
EURCAD: Bearish Move From Key Level 🇪🇺🇨🇦
EURCAD reached a key daily structure resistance.
On that, the price formed a cute head and shoulders pattern on 1H time frame.
Then the price broke and closed below its neckline.
I expect a bearish move to 1.3666 / 1.363 levels.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
HNT Trading IdeaWait for a pullback to 12.25 and go long. The price has a high probability of continuing in the trade direction. Good 🤞🏻
BTC Macros - Where is bitcoin heading?Whats up eveybody.
Just wanted to make a quick update on the macros of BTC, where do we see a possible bottom.
We know that BTC and USDT dominance have a strong correlation. We can see on the left chart that dominance is approaching a strong resistance at about 5.5%. We can have a double top there and dominance goes down, BTC goes up.
On the right chart we have BTC on a log chart with the Bitcoin Logarithmic Growth Curves & Zones indicator which has been very accurate when BTC hits the last bands. historically we can see that it always held and bounced from the last bands. As we can see now we are approaching these same bands now giving a big support on BTC price. So having this in mind and seeing the USDT dominance also approaching a big resistance, we can see that the zone between 25k-30k is a strong support where BTC can potentially bounce from there.
Let me know your thoughts on this, where do you guys think BTC bouncing point is?
Cheers!!!
XAUUSD PRICE ACTION SCENARIOGold is approaching a technical level for Price Action Traders.
Two scenarios
1 A H&S breakout, short on retest or
2 A third tap on the trendline and continue consolidating
Set your alarm on the support area to be alerted.
EURUSD Short Took a Short trade on EURUSD on a Piercing Trade with a strong push going down. 45 pip stop loss. No TP determined but a trailing stop loss is placed to maximize profits and reduce risk.
USDJPY LongUSDJPY has made a falsbreakout out of the rangine zone between 130.266 and 129.830. But looks like it is now making an upwards move. I am taking a 38 pip trade with a stop loss of 5 pips below to low. Holding on till the market turns on me
