Short-long
GBPCHF I Brief pullback and more upsideWelcome back! Let me know your thoughts in the comments!
** GBPCHF Analysis - Listen to video!
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19/06/23 Weekly outlookLast weeks high: $26887.5
Last weeks low: $25836.5
Midpoint: $24785.5
Despite a strong end to the week BTC has a lower previous week high and a lower previous week low. In that way we continue to be in a swing downtrend.
A double bottom from last week gives us an area where if we are to continue breaking down we'd have to break below and stay below.
The midpoint from last week controls the bias for me, I think price will find itself there this week and if it drops below and reclaims then the highs are next target.
If price consolidates above the midpoint ands drops below I think we break down towards weeks low and continue trend.
AUDJPY I Wait for bearish confirmation Welcome back! Let me know your thoughts in the comments!
** AUDJPY Analysis - Listen to video!
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GBPAUD I The best areas to trade right nowWelcome back! Let me know your thoughts in the comments!
** GBPAUD Analysis - Listen to video!
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BTC to the HOLY TARGETAfter breaking down our current trend in the monthly timeframe, we experienced a fake break above the trend during the re-test process, but the price has fallen under the trend again. We can expect a pin below $10K, an accumulating price in the FWB:12K - FWB:14K range will easily take us to the Holy Target.
APTOS TOKEN UNLOCKAPT has a token unlock fast approaching, 0.45% of the total supply (4.5m APT) is to be unlocked at 0.5:30 UTC on 12th June 2023.
Here are my thoughts going into this event, how I feel the market will react as well as key areas to look out for.
Firstly looking back to the latest APT token unlock back in January. We saw initial sell side pressure as new tokens flood the market, a gradual decline in price throughout the day ending in a -9% drawdown. However the days that followed were very bullish, with APT climbing approximately 40% the following week post unlock.
This is not unnatural price movement during an unlock event, so although not guaranteed, we can assume similar will happen this time too. As the chart shows price is currently following a triangle pattern capped by a local high of $9.00 that is being tested as I write this post. Just above is a bearish orderblock created by a price action imbalance and happens to create a good midpoint for the short term range we find ourselves in. This area will be a large obstacle for APT and in my opinion will cap off the short term rally we have had going into the unlock.
Then as we approach June 12th, price sells off temporarily due to high sell side pressure of a large influx of new coins. Before buyers react and look to attack that midpoint once more with new buyers that happily bought lower during the unlock event, perhaps using the 4H 200ema as new support that has now upturned and looking bullish.
These are just my thoughts on the upcoming event, in reality nobody knows what the future holds however the past can be used to learn from.
DYOR
NFA
BTC Daily Trade Idea In light of the new SEC/Binance news BTC fell off a cliff towards the midpoint of the 4H mini-range we have shown. In the middle of this range there's a bullish orderblock that I think could cap off the downside from this news. This is the first potential trade in my opinion after breaking lower and continuing the new downtrend.
2) The second potential trade is the reaction off the bullish OB and back up to the initial breaker, for me if we sweep liquidity of the supply zone and get back under, then we continue the downtrend and that leads to the third trade idea. Longing against the trend and news could be dangerous so this is quite risky.
3) The third and largest trade idea for BTC is the swing fail pattern confirming a downtrend and lack off confidence. That coupled with traditional markets such as the SPX & NASDAQ climbing higher but due a correction, I can see a retest of lower down, filling all the inefficiency and potentially marking the end of the bear market rally.
WILL THE SPX500 REACH NEW HIGHS OR WILL IT GO DOWN?On the SPX500, we have a bullish trend and a price that, after the approval of the US debt package, could reach the 4300 area where we have a supply zone in H1. The price could bounce before going back down to the 4130 area, creating a short setup according to the Forex48 strategy.
Let me know what you think.
Happy trading to everyone.
GBPUSD IS READY FOR NFPOn GBPUSD, we have a bullish/neutral setup in anticipation of the Non-Farm Payrolls (NFP) data, which will be released in approximately one hour. The objective will be to look for a bearish setup if the price falls below the supply zone and then bounces back around 1.2520. Otherwise, a long position with a target of 1.26 could be considered, and this might be confirmed by the data as well.
Let me know what you think.
Happy trading to everyone.
XAGUSD REACTION LONG SOONOn XAGUSD, we have a price that, after reaching the 23.50 zone where we have a supply zone, bounced back down, effectively creating a short setup with an entry at 23.55. I anticipate a short position with a target of 23.10 to test the demand zone and the bullish trend line.
Let me know what you think.
Happy trading to everyone.
EURCHF SHORT TRADE RR 1:25On EURCHF, we have a bearish setup this morning with the price declining and forming a short setup, making it an excellent entry point around 0.971 area. The trade offers a 1:25 risk-to-reward ratio, which is a great setup with the Forex48 strategy.
Let me know what you think.
Happy trading to everyone.
USDJPY I Positive US debt ceiling talks and weekly outlookWelcome back! Let me know your thoughts in the comments!
** USDJPY Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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CAT idea long wedge vs breakdownI just posted a CAT long idea. (check my profile for context on that)
I mentioned a breakdown but didn't draw it out so decided to make another post (this one).
I'm looking out for both options.
CAT has strong fundamentals and i can't imagine it getting absolutely wrecked, even in worsening economic conditions.
EURAUD I Broke 6350 resistance and forming head and shoulderWelcome back! Let me know your thoughts in the comments!
** EURAUD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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CADJPY Two potential bearish setupsOn CADJPY, we have a bullish setup since Thursday. Currently, the price is around 100.70 and rapidly ascending. The expectation is for a bounce around 100.95, where we have a supply zone with a bearish setup identified by the Forex48 strategy. In addition to this potential entry, we have another one around 101.60. Both entries look promising; we will see which one the market favors.
Let me know your thoughts.
Happy trading to all.
Forex48 Trading Academy
Maybe VWAP bands are still the best?I know, I know, a very confusing title.
Point is, we have been running after far too many indicators to tell us about BTC happening, but the best one to support us during the volatile period is still the VWAP bands.
As we can see, price has bounced and being rejected from level 1 bands, upper side band. A very daunting place to make a decision of BTC future.
I would its possible that it can break and go to abyss or go to heaven.
My bet is abyss.
GBPUSD 14TH MAYThe British Pound to US dollar is exhibiting a similar trend to the charts we previously analyzed. The smaller time frame swing moves have broken down, indicating a bearish shift in the order flow. We have identified a small gap above previous price action and a small gap below our most recent swing low, leading us to believe in the possibility of a short-term retracement bringing us back into the zone above before continuing downwards towards the liquidity highlighted on the left. We plan to follow this pair in the same manner as the previous two pairs, catching some very nice sell moves off of it as it delivers bearish ranges. We will be looking for a weekly high to form around Monday or Tuesday before following this bearish trend further down into the lower liquidity pools. However, if the pair decides to continue bearish without retracing, we will follow the order flow. As always, refer to the DXY to understand the general market direction.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!