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Psychologicalroundnumber

Trade setup: GBP/JPY analysisPrice has clearly overextended into the region of the yearly low of 135.67 which we previously tested but managed to hold, seen as this is an institutional demand zone we've had daily rejection around this region suggesting that buyers have taken profits and sellers may be looking to reverse the market, however price could consolidate around this region for a bit longer and create stop hunts since its such at a key level, positive fundamentals(CPI) from GBP may be the boost needed for GBP to build momentum to move higher. Great risk-reward trade of 1:3 ratio, targeting key psych 140.000
Long
by danresdidualfx
Trade Update: EUR/USD analysisUS fundamental on CPI remained unchanged, this was a pivotal macro indicator which large investors were waiting for, sentiment, therefore, remains more at ease, from a technical perspective price tapped a key liquidity barrier however we rejected this zone with an evening star reversal pattern then a 4HR bearish engulfing candle closing below a minor trendline signifying large downside pressure, its likely that price could rally to targeted zone of 1.25000 then potentially extend to a psychological level of 1.20000
Short
by danresdidualfx
Trade setup: USOIL short term perspectiveah sorry, I wasn't impulsive enough to give my perspective on this trade setup, but we've had a sudden move to the upside, however, we rejected a key long term trendline as our 3rd drive, also 4HR candle spiked and closed below 53.00 as a shooting star, ideally if we could get further spikes into the highlighted region we could enter for short trades to the targeted D extension which is at a key psychological/support level. -Risk reward is great as usual with a 1:4 ratio
TVC:USOILShort
by danresdidualfx
BTC medium term perspectivePrice extended to the highs of $9000, however, was not able to sustain this level as price clearly has been trading sideways around the psychological level of $8000. With singular wicks hitting both the highs and lows, however, the head and shoulder pattern could elude to the fact that reversal may be imminent. Bear in mind that from the new monthly highs price has been creating lower highs and lower lows. Price is currently retracing to the highlighted price region of $8200-$8350 at a key fib level, due to the fact that BTC is very volatile and therefore entails very manipulative wicks, wait for shorting the BTC at the highs of the wick to the targeted D extension fib level of the price region $6400.
BITFINEX:BTCUSDShort
by danresdidualfx
Trade Setup: GBP/AUD analysisprice has created its 3rd drive into the highs of that dynamic resistance price region that price previously tested. IF 4HR candle can close as a Doji suggesting indecision and potential rejection at the key trendline we could see price form a new higher low? and correct to the 1.82000 level (61.8% retracement zone) before accumulating buying orders to break the key trendline and reverse to new highs - SL is set higher than our previous wick rejection, if price breaks above the resistance and closes above, it's likely that price could rally towards our long term targets of 1.85000 Risk reward ratio is 1:2
Short
by danresdidualfx
Weekly Breakdown: GBP/AUD analysisIf weekly candle rejects key daily support of 1.81000 formed by our previous swing low with a Doji candle suggesting indecisive behaviour.It is likely that price could reverse if the price breaks the trendline with a bullish engulfing candle, targets of 1.85000 being a psychological level also in confluence with 61.8% fib level. More importantly, key fundamentals out this week for GBP which could be the catalyst for GBP potential upside momentum.
Long
by danresdidualfx
GBP/USD BEST SETUP EVERAnalysis for GBP/USD : *-Broke triangle, *-Downtrending with LH & LL, *-Broke the 1.3 support zone, *-Is going to retest the resistance at 1.3 which aligns perfectly with the trendline, *-Daily & Weekly showing strong bearish momentum, *-Moving averages downside crossed on daily & weekly, *-I have put a sell limit order but you can wait for some candlestick patterns to form at 1.3, *-Next target? Next support key level at 1.28, Have a blue week ahead and #tradesafe
Short
by theforexdaddy
EURUSD 4HOUR CHART - KEY ZONE FOR POTENTIAL SHORTSI haven't had a lot of interest in the $EURUSD higher timeframes this year mainly because we've been dealing with an extended period of consolidation. In fact, all 3 of my trading opportunities have been pattern trades or short-term day trades on the hourly timeframe and lower. Until we break out of our range & I get a clear idea of which way i believe the market is likely to go, I'll continue looking for similar opportunities & a current level that is on my radar to look for potential short opportunities is the structure zone between 1.1285-1.1324
Short
by Akil_Stokes
16
CAD/CHF - Time to pull the trigger!My apologies for such a saturated chart. For me, this bullish trend is ending very soon. We can see that the price is losing strength as it approaches to the weekly resistance. It also got over the 0.76 just for 20 pips and immediately reversed. Zoom in on last pullback and pay attention to the volume traded. You can see the bearish candles have more weight and for me this is a signal that the price is already getting into a bearish zone! Inside the upward channel we can find an ascending wedge which is also another reason to think price can strongly reverse. Also check ADX is showing that the trend is losing strength and RSI almost breaking its upward trend. This all is happening in the 78.6% level (red Fibonacci levels) of the last downward impulse which make me think we might be facing the formation of a new downtrend so we are going to place our (first) target on the 50% (blue Fibonacci levels)which is casually a psychological number 0.74 So, why the massive stop? I strongly believe price must reverse very soon but there is still a chance for an unexpected last impulse which I am going to use to keep going short in order to get more profit. Keep in mind that counter-trend trades are highly risky and adding more trades when price is not reversing as expected makes it way more risky! I hope my analysis is useful for your next trades Don't forget to hit the like button, I really appreciate it Follow me for more ideas 100% Forex Market
Short
by alejotrader92
2
CADCHF 60M Looking for price to respect trendline + round numberWill be on the lookout for price to hold at the trend line + 74.00 major price change confluence. *NOTE* If price doesn't hold and breaks lower next area of interest to go long will be ~.7370 If you'd like to be in the loop on even more stellar setups just like this one including how our free community took advantage of a *1,700+ PIP MOVE* that was posted in advance join our Free & Friendly Telegram Channel @ t.me #PriceActionIsKing! Trade with care my friends! :)
Long
by PriceActionNation