Get started

Priceactiontrading

USDJPY | Perspective for the new weekAs the Greenback appear to begin on a positive note during the initial hours of the Tokyo session today, the US inflation concerns ahead of this week’s US Consumer Price Index (CPI) is likely to be a major determinant on this pair. However, the strong bearish engulfing candle that thwarted buying momentum on the 29th of Nov 2021, sends a wave of caution as any selling opportunity can only be confirmed if we have either a rejection of the broken bullish trendline or an outright breakdown/retest of JY112.800 within the week. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Since mid September 2021, the USD recorded 5.85% growth against the Yen to initiate an uptrend momentum. ii. But after testing JY115.500 on the 24th of November 2021, we witnessed a sharp decline which broke the Bullish Trendline to the downside insinuating a possible reversal or retracement of Impulse leg (check weekly chart). iii. During the course of last week trading session, I observed that the price broke and closed below the key level @ JY112.800 a couple of times and this gives me an impression that the sellers are gaining momentum at this juncture. iv. Patience is hereby required at this point as the early hours/days of the new week might see a price climb to test the new supply level identified on the chart around JY113.750/114.500 to incite further decline. v. In case the price does not climb and we witness a Breakdown of the Demand level which has held price "supported" since September 2021; then we can prepare a sell position with the key level @ JY112.800 as a yardstick... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 7 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
EURNZD: The Zone to Watch 🇪🇺🇳🇿 EURNZD is trading in a long-term bearish trend. On Friday the price reached a peculiar zone of confluence: we see a perfect match between 618/50 retracements of the last two bearish impulses and a horizontal structure on the left. To catch a bearish move from that wait for a bearish breakout of an expanding wedge pattern on 1H time frame. Goals will be 1.635 / 1.626 In case of a bullish breakout of a blue zone, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
11
XAUUSD, Daily trendline and MA-200 supportHello my friends, In has been long since my last trade opportunity for XAUUSD After price dropping fiercely from 1870 to 1785 in just 4 days, we finally see some easing on sell pressure. Price found support on the ascending trendline and MA-200. Notice there is also hidden bullish divergence on stochastic. We might see price bounce from this support to retest 1832-1835 area. Buy XAUUSD 1790 Stop loss 1776 Take profit 1832 (3R) Use only 1-2% risk Good luck
FX:XAUUSDLong
by HayatoDragonFX