DAY TRADER SWING TRADER GBP/NZDHigher time frame clearly bearish but we can profit for a bullish correction after swing from the place i put the arrow swing sell good luck
Strategie
3LVL Akademie - Investment in Kryptowährung ALGOnach dem letzten Swing High (Pfeil) und entsprechenden Rückgang setzen wir ein erstes Invest in ALGO
XAGUSD ShortYellow zones- critical zones based on the monthly time frame
Red zones- critical zones based on the daily time frame
Blue zones – critical zones based on the 4h time frame
Last week's the Silver COT Report showed us some signs for a possible shortage on long contracts. The price has finally broken over the monthly critical area at the 19.00000 zone and a few more attempts may be seen before a good correction takes place. 18.300 will be a good mark to take profit on the current down momentum and also to see if the price can break the current channel it's in. The "parallel" channel is being respected since the 15. June.
There are 2 scenarios:
1. If the price breaks bellow the 18.300 bottom-trendline there will be a good entry point. It will be at the neckline of the future "M" structure. Such an entry gives us a better confirmation for a possible downtrend correction.
2. If the price reaches the 18.300 area and just goes for a second attempt for a good close above the 19.00000 zone.
If the first scenario takes place, we need to see a strong rejection from the daily critical at the 16.85000 area which also aligns perfectly with the 0.5 Fibonacci retracement level. If this happens we can prepare for another attempt on the previous highs at 19.00000.
Happy Trading!
AUDJPY Multi Time Frame critical area broken - 2 opportunitiesYellow zones- critical zones based on the monthly time frame
Red zones- critical zones based on the daily time frame
Blue zones – critical zones based on the 4h time frame
From the latest COT Futures AUD report, we can see that it is gaining even more strength, while the JPY is starting to decrease its “long” contract sizes. This could be an opportunity
for a close attempt above the daily critical zone near the 75.6 area. The price broke finally from the monthly critical and the closed triangle, which was formed since the second week of June. After the price broke, resistance came from the 0.61 Fibonacci area.
There is 1 main scenario and that is more unlikely to happen:
1. The price going towards the daily critical at the 76.5 zone. Beware the 0.786 Fibonacci retracement (it also aligns with a neckline). If price pushes back a good entry will be near the 75.100 mark.
2. If we see a really strong rejection from the 75.000 area, price may go down towards the 70.000 zone.
Happy Trading!
GBPJPY Neutral After reaching the 139.7-mark, price got rejected by the correction line and went all the way down 131.7. We’ve talked before about the correction I mentioned above. It is active since the beginning of march and the price respected it already a few times. According to the data from the COT contracts (23.06.2020) a bearish trend is noticeable for the GBP and a bullish for the JPY.
Still we don’t have any new data to determine the direction most likely to happen. Therefore, we will have 2 scenarios.
1. The price respects the correction we mentioned above and goes for the 137.4 area. The possible entry is from correction of the 134.5 mark.
2. The price breaks the previous lows and goes for the 131 area. Now it will be a good time to enter with a tight SL above the current highs.
EURCAD Short From last week's COT report we can notice a major increase in Leveraged Funds long positions and a decrease in Dealer long positions. This may be a sign for a short-term bullish momentum. Since the 29.06.2020 a upper trendline is respected in this pair and since March a wide angle formation can be seen. Critical levels on the 1h time-frame are 1.52971-1.53075 and the 1.52700-1.52800 (both are marked in orange). The 1.53000 area aligns perfectly with the golden zone of the 0.618 Fibonacci retracement .
There are 2 possible scenarios:
1. The downtrend ends with a close above the previous lower highs and so we can expect a move towards the 1.5400 area.
2. The downtrend is respected and we see the last wave reaching new lower lows for this structure. A confirmation will be a strong rejection near the 1.53100 area. If this scenario happens a new possibility can be seen from a future M formation. An entry point towards the next monthly critical will be the 1.523 mark.
Happy Trading!
EURCAD Short Hours and hours of talks and hundreds of different opinions could be relevant for this topic. But one thing is sure- for the past 20 years the financial system of Canada has done a much better job during a crisis compared to the USA and Europe. Often the practices of the Canadian institutions were criticized and their regulations on banks, insurance companies and investment dealers were overlooked. But they still managed to get out/avoid of the most minor and major crisis.
Looking at the technical side- another down wave can be expected. In the last 20 years, the price has proved to respect the upper trend line , the wide-angle trend and the main direction of the price.
Current situation: The European Union took a large hit after the first wave of COVID-19. Countries as Germany and Austria dealt pretty good with the virus spread, but at what cost? Even before the virus German banks faced a lot of problems. Another wave or two will bring catastrophic consequences to the economic of Europe.
Most likely the crisis will deepen and the numbers show that Canada deals much better in such situations.
EURCAD LongYellow zones- critical zones based on the monthly time frame
Red zones- critical zones based on the daily time frame
Blue zones – critical zones based on the 4h time frame
In my previous post i analysed the monthly time frame and now it is time to take a look on the daily and 4h. As i said in my monthly analysis, price will most likely move downwards forming new lower lows bellow the 1.21200 area. Most likely this scenario won't play out straight away. One or more rejections around the monthly critical 1.60000 area can be expected where support at the second monthly critical around 1.51000 can be received- resulting in multiple swings. A rejection from the 1.53-1.54 area will mean that the price is ready to move down where the next buying pressure zone can be seen at the daily critical area around the 1.46-1.47 zone.
"Why won't the price go straight down?" - well i think that it should already have done that with the first rejection in March, but instead it entered into a consolidation since then, which means that buying pressure is still relevant.
In order that this scenario works multiple rejections around the key areas need to happen.
XAUUSD Long Last week’s COT report shows that the gold still holds a strong “long” position, but that is only in the short-term period. In the mid/long term a continuation of the rejection of the 250k contracts is likely to happen.
Now what interests us is of course the shorter-term period.
1. If the price doesn’t fall straight away on Monday’s news a new move towards 1800 is expected. And if we see a strong engulfing candle above the area, a possible move to the next monthly critical is most likely to happen. Here a good entry position towards it will be the latest higher highs.
2. A strong rejection from the current monthly critical will mean a move towards the 1700 area.
Strong moves can be expected from the news tomorrow and on Tuesday. High volatility can take place so keep a tight SL and beware of false breakouts.
A winning strategy using RSI ? (Connor) #2 UT15 Downtrend 13% 13 percent in 17 hours, look good.
(take a look on the linked idea to more precision)
