GBP/AUD @ 1.79850GA is in a beautiful ascending channel on the 4hr and 1hr time frame.. weekly and daily chart also bullish. I'm waiting for price to reach the top of this channel again and then shorting GA around 1.78950 where the highlighted resistance zone is placed. Lets see if this ascending channel continues or we see a breakout above or below it, if that occurs then analysis will be updated to catch that next move.
Priceation
EURUSD significant levelYesterday was nice move up...
When i use Volume profile on this move up.. There is two significant volume cluster..
First one is from accumulation buying activity for long trade. ( I marked this zone number 1 )
Second one is near to high of the market... There is nice to see what i call " Rejection of higher prices" ( i marked number 2 )
Strong sellers rejected so fast this high price and left in this zone many contracts for short.... I hope so that when the price go back, this strong sellers will
be defend their selling positons..
Happy trading
Dale
Continuation Demand For Buy Position On USDCHF 07/03/2019The USDCHF price created a new fresh demand 2 days ago, it looks like a great continuation demand for buy position, for now, the price compressing down And as long as the price keeps compress toward the demand, it's better for us, it indicates the price move down without a real sellers power, therefore, if the Price keep that way, I'll buy at the demand below. I'll consider this position as a swing trade.
EURJPY 01.31.19 COMPLETE BREAKDOWN #FOREX Monthly
This candle is printing a massive wick symbolizing sellers' exhaustion. We could see it be filled through the next few months or leave those sellers behind and start to make its push to the upside. 7 more hours until this monthly candle closes.
This monthly candle is rejecting a key level of support at 125 (Major Quarterly Level).
The flash crash brought sellers all the way down to roughly 119 before pulling up quickly. Sellers stuck in that range.
Weekly
Weekly trendline broken, however currently monthly candle displaying sellers exhaustion! Candle could still be filled.
For the last 3 weeks we've been rejecting the Disturbance Zone @ 124.50. Strong support.
For 5 weeks the bodies of EURJPY have rejected the 61.8% retracement level.
Wicks keeping poking above previous weekly highs, BUT bodies continue to close beneath resistance. Buyers are being accumulated around 125-125.50.
Daily
The last few days have been rejecting the Daily Disturbance Zone @ 125.375.
Price poked above recent highs, however, the daily candle still closed beneath resistance, capturing liquidity aka buyers being fooled.
The daily candle that represents the flash crash dropped around 470 pips. However, from the low to the close of the bearish daily flash crash candle, it pulled back around 385 pips. MASSIVE WICK.
Recent daily support near our Weekly Disturbance Zone @ 124.50-124.60. We've continued to see exhaustion there. Sellers accumulated in that range.
4H
Price is rejecting the 71% retracement fib level.
The candle that wicked above resistance (Poked to 124.40-50) accumulated buy orders for those looking for that breakout strategies (retail traders). That candle ended up closing well beneath resistance, symbolized buyers' exhaustion. Don't be fooled by quick movements without price CLOSING at those levels. If the market doesn't close above/below resistance/support then it's not a confirmed break.
2 Candles later, we saw another decently sized wick and engulfed to the downside which is what tanked the price.
The massive bearish candle crushed all recent support zones (124.75), shifting the current momentum and solidifying bearish movement for a few days.
NO PULLBACK, NO ENTRY
Now we look at smaller timeframes for selling opportunities. Buyers' exhaustion, reverse candlestick patterns on 1H and below. Look for wicks to show liquidity.
1H
Price is rejecting our 1H Disturbance Candle for the second time.
The first rejection of the 1H Disturbance Zone ended in a bearish engulfing candle.
Price rejected the same level aggressively once again, if this 1H candle engulfs one more time then the bearish move is very strong.
The consolidation zone (124.60 - 125.30) may be broken with this bearish push. Once we have that close beneath on the 1H & the 4H... then we have further push to the downside.
A push down to 124.25 once price closes beneath the weekly disturbance zone and is retested.
15 Minute
Market Structure shifted back to a bearish trend.
Price rejected 38.2%, extending to 61.8% traditionally (124.125)
Back to back candlestick patterns at the eighth level (124.875)
Possible Take Profits
Anyone who was watching this live analysis should have entered anywhere from 124.75-124.875.
Take Profit based off of 15 min bearish extension would take us to 124.125 conservatively.
This aligns with the 78.6% retracement on the hourly timeframe. If look into historical trends: liquidity is common around 124.125.
If we close beneath our current higher low, price would be confirming a shift of momentum. One more bearish push after a pullback is likely. That final push would probably take us see the lowest it'll be for the rest of the year.
Sunpharma - Long Trade - Medium term - Price ActionSunpharma is at very good buying zone for Med term perspective
can accumulate at 517.5 to 527 and add more if dips to 490-500 zone.
De-Risk the trade around 545 for piece of mind.
Immediate Target of 584, followed by 640 and 700.
After a good run, this is a healthy correction and price taking support at previous resistance.
Appreciate comments and Feedbacks
GOLD - Loosing GroundYesterday #Gold break below the 1240 #support (#endingdiagonal) but managed to bounce back. I already expect Gold to start its major #correction for the move started 1120 but before that one last leg up is still in play (because of ending diagonal #elliotwave pattern). yesterday break of the support indicate that the fall may come quicker than we expect and #Gold may not reach the #pricetarget 1270-75 area. we may be heading for a #truncated5thwave (in ending diagonal) which could cause prices to fall from 1260-63 area to begin the #majorcorrection.
USD/CAD, DAY CHART, SHORT (16-JAN-2017)Note:
We are more bearish on this pair now.
There is a potential Double Top Setup.
Let's see if it is able to break the neck line at
1.312 level
Here are 2 trading plans:
1. Short when the price break the neck line
powerfully or after breakout followed by pull back.
2. Wait the price correction to the next resistance
level at 1.319 level and short again.
An opportunity in EURUSD. You can not miss thisA very nice set up for EURUSD is on the way. The market just began a downtrend and right now a pull back is trying to form. Let's wait and see if it will touch the 40ema, if it does I will take a short position targeting 30 pips. The market is below all the EMS which includes 20, 40 and 200 ema. Keep posted I will let you know once the signalis strong enough.