What to Expect From EURUSD This Week 🇪🇺🇺🇸
Multiple time frame analysis on EURUSD.
Price action and key levels.
Directional bias and thoughts.
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Priceactiontrading
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?
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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.
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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.
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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
STEPN H1 - 05/05/2022I am hoping that STEPN/GMT will make a breakout before it can go any lower. The current level is the key zone of buyers for many days. Thus, there will be not many sellers around.
Cheer
DOLLAR INDEX (DXY) Consolidation and Indecision 💵
As we earlier discussed,
Dollar index reached a major weekly structure resistance.
The price is coiling on that for a couple of days already.
Analyzing a daily time frame, I spotted a classic inside bar formation.
Technically speaking daily candles are currently trading within the range of the 28th of April candle.
It looks like the market participants are waiting for some trigger and currently are very indecisive.
To clarify the future direction of the market,
wait for a breakout of the underlined range (you need a daily candle close above/below to confirm the breakout).
If the price breaks the lower boundary of the range, I will expect a correctional move to 101.5 structure.
If the price breaks its upper boundary, I will expect a bullish continuation to 105.0 level.
Let's see what will happen.
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EURNZD: Classic Reversal 🇪🇺🇳🇿
Hey traders,
EURNZD formed a triple top formation on a strong intraday structure resistance.
The price successfully broke and closed below its neckline
and now I expect a further bearish continuation.
Initial target - 1.611
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EURCAD: Bearish Trend Continuation 🇪🇺🇨🇦
Hey traders,
EURCAD is trading in a bearish trend.
Setting a new structure low last week, the pair retraced to strong resistance.
On that, the price formed multiple dodji candles, and then the pair formed a double top formation.
Its neckline breakout confirms a highly probable bearish continuation.
I expect a down move to 1.34
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UK100 SHORT IDEAPrice has rejected main resistance level, 4H candle just closed as bearish engulfing so I'm expecting to price comes down to the previous low level since the main pattern on Daily and weekly are channel UP I believe it will touched there and bounced back up.
AUDCAD: Oversold Market & Pullback 🇦🇺🇨🇦
AUDCAD looks very oversold.
After the price was coiling within a falling wedge pattern,
it broke and closed its resistance on an hourly time frame.
Now the price may bounce to 0.9115 level.
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Copper: Bullish Move From Key Level
Copper reached a very peculiar confluence zone:
we see a perfect match between a horizontal daily demand area,
618 and 786 retracement levels of the last two bullish impulses.
Analyzing the candlesticks, we may spot a nice dodji candle being formed on that structure.
Then, analyzing an intraday perspective, I spotted a bullish breakout of a falling wedge pattern formation.
I assume that it will trigger a bullish move.
Resistances on focus: 800 / 805
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GBPCHF: Pullback From Key Level 🇬🇧🇨🇭
On a today's live stream we discussed a potential pullback trade on GBPCHF:
The market is taking off from a key level.
The price formed a double bottom with a higher low and broke and closed above its neckline.
Now I expect a bullish move to 1.223
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
EURUSD SELLSell on EURUSD. EURUSD has made significant movement towards the downside. So I am trying to capitalize on all movements even small ones. Retouch entry with 39 pip stop loss above High.
