Priceactiontrading
XAUUSD DOWNSIDE TOWRADS $1800 - $1790Gold is bearish intraday below $1820. The price may drop to support at $1800 and could continue to fall towards $1790 support. The sellers would need to clear support levels around $1793, where the SMA100 one-day and the previous week’s low meet. A recovery towards resistance at $1814, where (200 SMA) four-hour and Fibonacci 38.2% one-month coincide would allow to test $1819 supply area. Daily and 4H charts show bearish momentum. For now, XAUUSD appears to be forming a consolidation pattern between $1830 and $1800, a break may cause more more volatility in Gold.
XAUUSD, 4hr tf, bearish scenario
Possible scenario for XAUUSD.
Price going up inside this channel and the recent drops on Friday confirm a break below the support.
It looks like XAUUSD making a bearish flag or possible rising wedge. If it plays out as bearish flag, the drop on XAUUSD gonna be massive.
This upwards movement is a retest of broken trendline.
We could see XAUUSD continue decline further.
Sell XAUUSD 1815
Stop loss 1825
Take profit 1750 (6.5R)
Use only 1-2% risk
Good luck
EURAUD, 4hr tf, AB=CD pattern
Yesterday we got our stop loss hit for this pair.
I still think a retracement will soon come as this pair hitting resistance right now.
We could see the movement of EURAUD making an AB=CD pattern.
Keep in mind we have RBA in 50 mins so expect some volatility in all AUD pairs. Use proper risk management.
Sell EURAUD 1.6065
Stop loss 1.6130
Take profit 1.5935 (2R)
Use only 1-2% risk
Good luck
Bitcoin TA. Simple Price ActionFirst, I want to say I am strictly a Price Action trader. I like to keep my charts simple and clean and analysis the same. So if your looking for some long drawn out reason for BTC to be doing what it is doing then this is not for you.
Weekly/Daily
Price has made a Head N Shoulders pattern on the Weekly timeframe indicating that price may be heading to lower numbers.
We have a Descending Triangle into support on the Daily timeframe as well also indicating lower numbers. If we break, retest and support flips to resistance, we can look forward to 20K possibly.
General EURUSD Analysis If you saw my most previous EURUSD analysis video, you'll see that it hit my TP perfectly.
On the 4H chart, we can see a wedge pattern forming but also making its way back to the trendline.
I'm not confident in looking for any setups at the moment as there could potentially be huge momentum depending on if it breaks the wedge pattern to the upside or the downside.
XAUUSD Short IDEAFalse breakout from one of my drawn levels.
Showing signs of reversal on the DAILY TF.
Looking for it to short its way down to the next level I have pointed out on the chart.
RISING WEDGE PATTERN IN GOLD!!DAILY TF:- BEARISH
4H TFD:- BEARISH
I HAD PREVIOUSLY SHARED ABOUT THE RISING WEDGE ON 13 JULY 2021 N WE HAD GOT THE SAME MOMENTUM FROM THE RESISTANCE OF THE WEDGE
I GUESS WE CAN SEE A BREAKDOWN OF THE GOLD PREETY SOON
XAUUSD, 1hr tf, buy the end of wave-4I planned a sell setup before but missed my entry.
We missed the chance to enter sell and it does really go towards our target at 1816.
So we will now try capitalizing the buy opportunity.
I am using the same elliott wave setup. Right now we might complete the ABC correction of wave-4. Next is 1 more push up for wave-5.
Our target will be around 1840-42 which is the next resistance area.
Buy XAUUSD 1816
Stop loss 1811
Take profit 1841 (5R)
Use only 1-2% risk
Good luck
GBPAUD, 4hr tf, broadening wedge pattern
I do respect the idea that GBPAUD might drop along with EURAUD. We're also near the horizontal weekly resistance right now.
If i draw a trend line connecting the low and high of GBPAUD recent movement. It will look like a broadening wedge pattern.
In terms of Elliott Wave, this is a broadening ending diagonal.
Sell GBPAUD 1.8610
Stop loss 1.8670
Take profit 1.8410 (3.3R)
Use only 1-2% risk
Good luck
EURAUD, 4hr tf, sell at weekly resistance level
As you can see price now at horizontal weekly resistance which is 1.5900 area.
We do have an impulse to the upside recently, but after an impulse, there is always a correction. Usually the correction will be in 3 sub waves ABC.
As we are already completed wave A and B. I think EURAUD might drop once again to complete wave-C.
Sell EURAUD 1.5900
Stop loss 1.5940
Take profit 1.5700 (5R)
Use only 1-2% risk
Good luck
GBPNZD, 1hr tf, buy at 61.8% retracement
Price also dropped for GBPNZD yesterday. We dropped until 61.8% retracement of recent rally. At the same time, there is weekly support around this level so we could say this is an area of confluence support.
Also it appears there is a possibility double bottom pattern forming. We could see some rally to the upside if this pattern play out.
Buy GBPNZD 1.9700
Stop loss 1.9630
Take profit 1.9910 (3R)
Use only 1-2% risk
Good luck
EURNZD, 1hr tf, bullish bat pattern
After yesterday we got a fierce drop from EURNZD. Price finally stop dropping after meeting the ascending trend line.
For me, it looks like a bullish bat harmonic pattern forming. We might see some upwards movement towards 1.6950-1.6930 area which is 61.8 retracement of CD leg.
Buy EURNZD 1.6830
Stop loss 1.6770
Take profit 1.6950 (2R)
Use only 1-2% risk
Good luck
GBPUSD, 1hr tf, buy the 61.8% retracement
As you can see, yesterday price complete the ABC correction of wave 2 or B. After this correction, we might see another impulse to the upside for GBPUSD.
ABC correction stopped exactly at 61.8 fibonacci retracement which is a good opportunity to enter long.
Buy GBPUSD 1.3810
Stop loss 1.3750
Take profit 1.3990 (3R)
Use only 1-2% risk
Good luck
USDCAD, 1hr tf, HnS pattern in play
This should be a very clear HnS pattern for you all to see. Also it looks like USD pretty much exhausted so we could see a retracement for major pairs first.
If you draw fibonacci retracement, you will notice price holding at 61.8 fibonacci right now.
In terms of Elliott wave, this is right now wave-(b). We could expect wave-(c) to continue going down from here.
Sell USDCAD 1.2515
Stop loss 1.2600
Take profit 1.2300 (2.5R)
Use only 1-2% risk
Good luck
GBP/CAD Signal LONG TRADE IDEAGBP/CAD Signal
Market Buy: 1,72780
Stop-Loss: 1,72250
Target 1: 1,73600
Target 2: 1,74600
Stop-Loss: 53 pips
Risk: 0,5%
Risk-Reward: 3,42
LINK/USDTthe link is inside a big triangle
we can take long position in price pullback
after breaking the triangle from above
But if the bottom of the triangle is broken,
we can see a further fall in prices
CARDANO is under pressure. Will it last or crack? $ADA AnalysisFrom the daily perspective of the ADA / USD chart, we see a strong trend line, which indicates a down trend.
But when we look at the Fibonacci retracement of the last impulse leg, we see that the price is at the important level of 0.382, which is trying to break down for the third time.
If the price falls below 0.382, the next level where the price will definitely respond is 0.618. This is where we will place our Take Profit if we open a Short position.
The trend line and level 0.386 also created a descending triangle formation.
Now you need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy or sell.
Today I will discuss all the essentials and based on our Price action strategy we will look for a suitable place to enter. Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
We hope you will join us for the next trade.
Binance Coin price broke important level! BNB/USD analysis.Binance Coin is located just above the very strong Support/Resistance level, which was created on the 11th of March.
At the same time, we got over the formation of the triangle. At the moment, we have the opportunity for a Long trade. Simultaneously the price is above EMA 200 daily.
On the other hand, we know that the formation of a triangle often has so-called "Fakeouts", which means that there will be a false breakthrough and the price will fall again.
Now we need to find out, on lower time frames, what's going on inside the candles and decide whether there is a good opportunity to buy or sell.
Today I will discuss all the essentials and based on our Price action strategy we will look for a suitable place to enter. Of course, all the conditions of our strategy must be met in order to increase the probability of a successful trade.
GBPCHF, 4hr tf, sell the end of wave-4
This pair also retracing to complete wave-4. Just like my other setup i shared today. Check it out as well.
We might see another drop soon from this pair. As this trade providing 4R trade setup, it is worth to try it.
Sell GBPCHF 1.2690
Stop loss 1.2725
Take profit 1.2535 (4.4R)
Use only 1-2% risk
Good luck
AUDJPY, 4hr tf, sell the end of wave-(iv)After going down for 285 pips from 84.20 to 81.35, today we saw some retracement for AUDJPY.
For me, i still think AUDJPY is bearish and we might see another drop soon.
Price might only retrace to complete wave-(iv). Right now we're at 38.2% fibonacci retracement.
Sell AUDJPY 82.45
Stop loss 82.85
Take profit 81.00 (3.6R)
Use only 1-2% risk
Good luck
