Japanese Yen weakness? > We Have Bear Market Structure on the Daily/Weekly Timeframes
> No Planned Red Folder News events for the next few weeks
> Perfect time to trade with the trend
> As a Result I am Bullish on Some of the Yen Pairs such as GBPJPY
> Especially considering Pound Interest rates rumours, we still have
another 2 days until we see what the rates really are going to be
for the Brits
Riskreward
+9% Despite Poor USD ; ADP NewsBias remains the same for this pair
Despite DXY going wild
Crude oil is also in quite a volatile range for CAD
ASP news this morning was very poor for the USD
However we have only see DXY appreciate since the news
This is because USD is a safe haven despite the worlds largest economy having
bad employment numbers. We would like to see a continuation of bull market structure as we move into london close
for our bias to remain strong. NFP in 2 days
EUR/AUD - LongWeekly:
We have Double bottom formation and the price last week brake the resistance/neckline. Now pullback for test it.
Daily
Here we can clearly see the impulse with brake point.
4 Hour
My entry is close to the neckline with R:R 1:3
My SL is protected by 4h trendline and support level.
This is not financial advice!
NQ / MNQ - Ready to climb and here's whyThe red pitchfork indicates the ongoing downtrend is intact.
The Overshoot below the lower medianline parallel is acting now as support as we can see at the green circles.
The 1,2,3,4 numbered channel (which has nothing to do with the pitchforks btw.) is up-sloping. Point 4 is projected from the slope of 1 & 2, and the attached handle at 3. This gives us the inflection point 4, which converges perfectly with the red L-MLH .
This is a good time to draw a new (grey) pitchfork. And we see how wonderful even the handle touches the prior convergence (green circle & L-MLH).
RSI has already crossed to the upside on the 24th and seems to hold now the critical oversold level to go north again.
To me, these are nice indications that NQ will move to the upside. A superb Risk-Reward Trade.
EURUSD 4Hr Analysis, New York Session Jan-25Lots of bear momentum
Lots of fear in the Market
Price needs liquidity though to keep moving
We'll see what happens
We shall see how candles close at 1.128 Daily Zone on the 1Hr during NY and Asian Sessions
Rejection or close below. IF we pullback up, im looking for 1.13
EUR/AUD - Pending LongMonthly:
Rejected 2 times from support and now stuck between support and resistance level.
Weekly:
2 times rejected from weekly support level. Last week with huge pinbar.
Daily:
Broken Daily Support Level now this level is support so expect to pull back for test.
4 Hours:
Placed pending buy order with thin stop and massive Risk/Reward!
This is not financial advise!
Good luck!
EURSGD Trendline and 73 fibo zone long - Buy low!Buy low sell high the saying goes and what a great opportunity on this pair for just that. Plus meeting the rules for entry on a geometric trendline and fibo zone notably my preferred 73-78.6 for a nice correction long on the daily chart. Great risk reward on this one, that's what we like.
ULTRACEMO - LONG @CMP 7660Swing Idea:
NSE:ULTRACEMCO - LONG @CMP 7660
Entry -> 7660
SL -> 7395
TGT 1 - 8000 (R:R = 1.3) - Time frame -> 1 month
TGT2 - 8200 (R:R = 2.05) - Time frame -> 1-2 months
TGT3 - 8800 (R:R = 4+) - Time frame -> 4-6 months
Reasoning:
- Stock moving in a channel since 1+year.
- Stock moving on lower end of channel with good consolidation
- On the verge of breaking triangular pattern
Caveats:.
- Can go below channel on global cues, and pandemic news. Shake-up possible.
- Earnings coming up in 3 days, could be a make or break situation
ROSEs are red...ROSE is currently testing its 100-day EMA and ~0.455 level. It has also been trading within an ascending channel since December 2021 where it gained ~192%. Naturally, since its ATH it has faced a pullback to its 50% fib level.
ROSE must now decide whether to fall further toward the 38.2 level, which is a common occurrence when BTC is weak, or it can gain momentum and re-test its higher fibs and ultimately its ATH. ROSE has a good risk: reward ratio. If BTC avoids a further fall below the 40k level, ROSE can move up. It is important to wait for confirmation of the trend before entering a trade.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!
XAUDUSD BULLISH ABC APPROACHING 1ST TARGET 1850.000XAUDUSD BULLISH ABC APPROACHING 1ST TARGET 1850.000 after the abc bullish pattern formation with entry at 1780.875
the 1st position will be profit leaven the remains one for the second target
top loss will be moved to 1812.704 a 50% above the entry level
GBP/JPY - SHORT Long term position, with great risk/reward ratioThe price reached the previous highs. It created a double top and crossed the uptrend line. Also RSI reacted to the overbought and started to 'look' downwards.
Great potential here for positions that will stay open for a few days or maybe couple of week in order to be profitable.
Bearish Entry ExampleThis kind of price action happens all the time, you just have to spot it while it's happening so that you can plan your trade and execute. I have put this together to give you an idea of the type of things I look for in the hope that it can help you too.
Once price action has made a clear impulse to the upsides and taking out previous structure that's our first sign that the buyers are stepping in. Once we see some corrective price action we can place our fib from the high to low, mark out previous structure and identify the pattern that price is making to build a picture of where price is most likely to reverse giving us the best possible entry.
FTCH: BIG SUPPORT. BOUNCE SOON?FTCH :
A lot of tech charts look similar.
- big zone of support -resistance here as you can see on the chart
- Demark sequential 9 weekly
Again, we're going against the trend but I like the risk vs reward for a long swing trade here, cuz I can have my stop loss not too far.
Trade safe!
Good Risk/Reward SituationSXP looks really interesting here, and if you're a gambler, this might be a bet worth taking. The bearish case is that we have a large Descending Triangle. The bullish case is that we have Extreme seller exhaustion and may soon be printing bullish divergence. It's important to point out that while normally I would look at seller exhaustion as being a good bullish sign, *extreme* exhaustion can actually be a bearish sign as it can indicate that demand has all but dried up. However, in this market, a small-to-mid cap coin with dried up volume can be very tempting for speculators as it won't take very much volume to generate huge volatility. I think this is a gamble that could pay off big and might be worth a small position here.
Crypto bottleneck cointinues to tightenWe've been hugging the lower end of the Bollinger Bands since the November peak, without much chopping between. The bands continue narrowing, and moving sideways. If you believe in the power of the bands, you might note just how wide the risk : reward spread has gotten across the market. Massive gainer potential here folks! It might be choppy though, be careful!
FTT
Upper Target: 44.42 (+17%)
Lower Target: 35.09 (-7%)
BTC
Upper Target: 53k (+26%)
Lower Target: 40k (-4%)
ETH
Upper Target: 4349 (+38%)
Lower Target: 3029 (-4%)
Which side are you trading?
Could see a bounce now- Just broke out of lower BB band
- Sitting on the lower trend line
- RSI oversold on 1D
We could see a bounce right now on the lower trend line, it is possible if a turn around happens that we could see 80k this time around and with a stop loss not far below the entry right on this trendline just below the accumulation zone our risk reward ratio for this trade is fantastic. Would wait for more confirmation before I longed here possibly waiting for the RSI to cross back over, but all in all it is looking like a nice place to start accumulating some long positions assuming we do not break 40k on the down side, If we do break the 40k on the down side we could head as low as 30kish.... :(
DISCA: LOW RISK BOUNCE SWING PLAY
Disca has been dropping since March and has now reached an Ichimoku support on the weekly chart.
My support is based on the flat side of the cloud.
Quiet good risk/reward play . One could buy at the current price level with a stop between 24.90 and 23.5 depending on your risk tolerance and sizing.
My target is between 32 and 35 as you can see on the chart. If we reach these target we will reassess and see whether we have a sustained trend reversal.
Trade safe!
More on Ichimoku (by Investopedia):
The Ichimoku Cloud is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. It does this by taking multiple averages and plotting them on a chart. It also uses these figures to compute a “cloud” that attempts to forecast where the price may find support or resistance in the future.
Key takeaways:
The Ichimoku Cloud is composed of five lines or calculations, two of which comprise a cloud where the difference between the two lines is shaded in.
The lines include a nine-period average, a 26-period average, an average of those two averages, a 52-period average, and a lagging closing price line.
The cloud is a key part of the indicator. When the price is below the cloud, the trend is down. When the price is above the cloud, the trend is up.
The above trend signals are strengthened if the cloud is moving in the same direction as the price. For example, during an uptrend, the top of the cloud is moving up, or during a downtrend, the bottom of the cloud is moving down.