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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
The trend is strongly bullish on italyThe trend is strongly bullish for the Italian index. This from the first days of January to this days. After the collapse of May (from the highs) it has reached the support area setted at around 18000 points. The price in these 4 months has recovered most of the descent, returning below the key static resistance in area around 22300 points and identified by 23.6% of the Fibonacci retracement. This level, if broken on the upside, will pave the way for the MIB40. It will once again reach the highs reached a year ago. With this expansive monetary policy on the side of the ECB, which will continue to keep rates at historic lows (almost certainly returning to inject money in the Eurozone from September) the markets will be reassured and investors will hold and increase positions on European equities. The market expects an important reversal of the main world indices after the rally of the last sessions. In the specific case of the Italian index, on reaching the price of 22300 points it is very likely that could retraces. At least up to the support identified by the EMA20 daily and passing through around 21500 points. The maximum extension that could touch the key support placed at 20900 points.For a few sessions this uptrend should not stop. On reaching 22300 points, we will open a short position and keep it in the portfolio for a very short/short period.
INDEX:FTSEMIB
by BFCMInvest
2
from accumulation to distribution: trading plan for pound aud hey traders, on pound aussie we have a very good example of market phases. pair is now approaching a decent level of resistance, and the market leaves multiple clues of bulls exhaustion. first of all, analyzing volumes, we see that smart money dont buy anymore, and prefer rather to sell: also, we have weakening overbought rsi with clear divergence, and formation of a head and shoulders pattern. all these things signify the distribution market phase. last thing that we are waiting for is the violation of a neckline. then we can freely sell the market with the targets based on structure. good luck!
Short
by VasilyTrader
Major Descending Channel on H4/D1 for EURCAD - BUY ALERTThis descending channel meant you could have been buying at every bottom trend line touch with take profits once it hits the top. Risky moves were selling from the top to the bottom VERY close to major support structure area. BIG BUY coming up DON'T miss this - an UNCOMFORTABLE lot size on this move will go a LONG way in proving that patterns are KING! "IF YOU DON'T KNOW PATTERNS, THEN YOU DON'T KNOW HOW TO TRADE" "LEARN YOUR PATTERNS - YOU MUST KNOW YOUR PATTERNS" --WAVE TRADER
Long
by Mahoganirjones
Lasta chance for a long on GASThe price has almost reached the last static support placed at about 2.56 $, after it there is a gap of 30/50 cents that could be covered in the very short term if the level just mentioned was broken downwards. The main trend, so far, has been reversed: technically the EMA20 and 200 periods on medium / long term tf are above the price and this means that the trend has basically become bearish; with the end of January, however, historically, begins a period of laterality that bounces the price in this channel between $ 2.60 and $ 3.10 approximately, until late spring / summer does not violate the downside support to test the areas around 2.20. For the next few weeks we will trade it by entering and exiting the market, when the opportunity arises, and then keeping a short position in the portfolio for the short / medium term that we will close towards the autumn. Obviously if the scenario changes, we will change the analysis and the strategy. Join us for further analysis on: Instagram : www.instagram.com Telegram: t.me Facebook Page: www.facebook.com Web: www.bfcminvest.com
NYMEX:NG1!Long
by BFCMInvest