AUDNZD FINALLY WE HAVE A SHORT TRADEOn AUDNZD, we have a price around 1.101 within an H1 supply zone. It's an area where the majority of trading volumes have occurred for the past two days. The expectation is to go short, with the price potentially dropping to 1.09, where we can observe further order intensity.
Share your expectation.
Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
Strategy!
EURNZD BEARISH SIGNALS BEFORE EURO PILOn EURNZD this morning, the price made a third bounce around 1.7710 within an imbalance zone and near a downward trendline. The forecast now is to see the price around 1.7571. This is also considering the data released this morning on the Eurozone's GDP.
Share your expectation.
Happy trading to all from Nicola, CEO of Forex48 Trading Academy.
NZDUSD STRONG DOLALR DUE TO SENTIMENT FEDOn NZDUSD, we have a bearish setup around 0.6048, with the price touching a trendline three times. Currently, the price is within an imbalance zone after yesterday's strengthening of the dollar. The expectation is to wait for the price to reach 0.5970 for the potential creation of a long pattern, with the AUD recovering all the lost liquidity in recent days. However, everyone is waiting for the upcoming FED meeting next week, and the markets are currently showing very little movement.
What are your expectations?
Happy trading to all.
Nicola, CEO of Forex48 Trading Academy.
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EURUSD SHORT SETUP BEFORE FED NEWSOn EURUSD, a bearish trend can be observed, with the price retracing to the 50% Fibonacci level and then bouncing three times on a downtrend line, indicating clear short signals. Currently, the price is situated between a supply and a demand zone at the 1.0675 level, with volumes favoring sellers. Therefore, the objective is a short trade with a target of 1.055. It is worth noting that the short position will be confirmed by an initial break below the 1.0635 level.
What is your perspective?
Happy trading to everyone.
Nicola, CEO of forex48 trading academy.
Nasdaq Futures Major Buy Zone on a correction$NQ_F Nasdaq Futures Weekly chart going back a decade.
The Nasdaq Futures have reached the upside objective for the cycle (earlier than expected).
If there is a correction from these levels (no sign of that yet, and no need to guess), I intend to look for buying opportunities at the Gray Zone if offered in June - September, for a move back up the range.
CHFJPY SHORT TRADE SIGNALOn CHFJPY, we have a bearish setup where the price has broken a descending triangle and rebounded three times on a downward trendline. Currently, the price is at 153.80, which is between the 50% and 70% Fibonacci levels, making it a premium zone to enter a short trade with a target at 153, where we have a very strong demand zone.
Let me know your thoughts on this.
Happy trading to everyone.
GBPJPY IS READY FOR A SHORT TRADEOn GBPJPY, we have a bearish setup with the price forming a downward trendline and confirming it with two H1 candles below today's most active trading zone. Sell orders are increasing and pushing the price towards the 172.41 area, where we have an H1 demand zone.
Let me know what happens.
Happy trading to everyone.
AUDJPY BEARISH SETUP AFTER NEWSOn AUDJPY, I anticipate an upward movement towards the 92.80 area tomorrow morning after the interest rate decision in Australia, which would create a bearish setup to reclaim all the liquidity left in the market due to the news. Therefore, the trade objective is to enter a short position around 92.85 with a target set at 90.70.
Let me know your thoughts.
Happy trading to everyone.
USDCAD BULLISH TRIANGLEOn USDCAD, we have a bullish setup with the price forming a bullish triangle pattern. The objective is to wait for the price to confirm the pattern with two H1 candles above the daily volumes and for the price to break out and then bounce off the bullish triangle. Therefore, a possible setup involves entering the market around the 1.3445 area, with a target set at 1.3730, as it is currently the most significant supply level, considering that the preceding ones are all fake supplies.
Let me know your thoughts.
Happy trading to everyone.
GBPUSD IT IS READY FOR A LONG SETUPOn GBPUSD, after a trade executed on Friday following the NFP release, which resulted in a 9% gain, we are currently experiencing a completely bearish market, approaching the 1.2350 area where a demand zone is located, along with numerous buying orders. Therefore, I expect a bullish pattern to emerge in that area, leading to a recovery of all the liquidity left in the market on Friday and today. The target is set at 1.2550.
Let me know your thoughts.
Happy trading to everyone.
First Steps: Introduction to Pine Script Welcome back, fellow traders, to another exciting episode of our Pine Script™ journey! In our previous video, we explored how to use existing scripts and indicators on TradingView. Today, we'll take the next step and dive into the fascinating world of reading and writing Pine Script™.
In this episode, we'll focus on the fundamental aspects of reading Pine Script™ code and understanding its structure. By studying the code written by talented programmers, we can gain valuable insights and improve our own understanding of the language.
Reading code written by proficient programmers is the most effective way to enhance your knowledge of any programming language, and Pine Script™ is no exception. Luckily, there are numerous reliable sources for high-quality code on TradingView.
To start, you can explore the built-in indicators provided by TradingView. These indicators serve as excellent examples of well-written code. Simply load an indicator on your chart and hover over its name to access the "Source code" icon. Clicking on this icon will open the Pine Script™ Editor, where you can view the indicator's code.
The Pine Script™ Editor allows you to explore and modify the code. If you want to experiment with a specific indicator, you can make a copy of the code by selecting "Make a copy" from the "More" menu. This way, you can freely modify and save your changes without affecting the original indicator.
Another fantastic resource for reading code is the vast collection of Community Scripts on TradingView. These scripts, created by talented traders and programmers like yourself, offer a wealth of inspiration and knowledge. When browsing through Community Scripts, look for scripts without a gray or red "lock" icon, indicating that they are open-source.
Opening a script's page allows you to view its source code. By examining different scripts, you can gain insights into various trading strategies and techniques. This exposure to different coding styles will broaden your understanding of Pine Script™ and help you improve your own coding skills.
Now that we've explored reading code, it's time to unleash our creativity and start writing our own Pine Script™ scripts. Whether you're a beginner or an experienced programmer, Pine Script™ provides a user-friendly yet powerful platform for developing indicators, strategies, and even libraries.
Pine Script™ empowers us to write three types of scripts: indicators, strategies, and libraries. Indicators, like RSI and MACD, help us analyze market data. Strategies, on the other hand, include trading logic and can be backtested and forward-tested. Lastly, libraries enable advanced programmers to create reusable functions for other scripts.
I invite you all to embark on this exciting journey of writing your first indicator. With Pine Script™, we have a language that is both approachable for beginners and flexible enough for advanced traders. Let's unlock our creativity and develop trading tools tailored to our unique strategies.
Thank you for joining me today as we explored the art of reading and writing Pine Script™. Stay tuned for the next episode, where we'll dive deeper into writing indicators and unleash the full potential of this remarkable language. Until then, keep trading with passion and continue honing your coding skills!
EURAUD IS THE DOWNWARD TREND COMING TO AN END?EURAUD is currently located in the 1.62 area, where we have a strong demand zone that has temporarily halted its downward movement. We will see if the price manages to reverse here and move upwards, creating a long setup with a potential take profit target around the 1.64 area, where we have significant volumes. All of this aligns with the Forex48 strategy.
Let me know what you think.
Happy trading to everyone.
XAUUSD IS WAITING NFP On gold, we have a bullish setup. The price is near a supply zone and has just come out of a demand zone with high volumes. Everything will depend on today's NFP data. The objective is a bounce in the 1979 area with a target of 2010, or a retracement towards the 1940 area.
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.
AUDUSD IT'S READY FOR A LONG SETUPOn AUDUSD, we have an important Point of Interest (POI) at the 0.6505 area, created by the market exiting a demand zone. Following the Forex48 strategy, the objective is to wait for a rebound in that zone for a long entry with a target of 0.6550.
Let me know what you think.
Happy trading to everyone.
CHFJPY - FINALLY WE HAVE A LONG SETUPOn CHFJPY, the market is forming a long setup following the Forex48 strategy. The setup is around 153.15, where we have a strong demand zone created on May 18th. Therefore, I expect a retracement at this level before entering a long position with a target of 155.40. There is a supply zone at that level, and the price may even break through it to continue the upward momentum.
Let me know what you think.
Happy trading to everyone.
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WIX Options Ahead of EarningsAnalyzing the options chain of WIX prior to the earnings report this week,
I would consider purchasing the 75usd strike price Puts with
an expiration date of 2023-5-19,
for a premium of approximately $1.70
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
CRM Salesforce Options Ahead of EarningsIf you haven`t sold CRM here:
then Analyzing the options chain of CRM Salesforce prior to the earnings report this week,
I would consider purchasing the 230usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $9.05
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
XAUUSD Outlook 31/5/23. Very strange price action 🤔Good evening gold gang! hope you are well and survived todays price action.
We started off with a 100 pip fall down to the key level in asian session .. the first in a while with any volume. Then a correction in London followed by a push through for a total of 400 pips of movement, 300 in once direction.
A nugget here for you guys, Gold normally moves in corrections. What i mean by that is if it runs one way in london, you will usually see the reversal in NY. shh. Dont tell anyone
My zones and targets were met, but not tradable as the price action did not line up. The 1m strategy, which im calling Gold Gang Concepts , did well and i managed to bag a few pips with it. Not bad.
Ok the zones for tomorrow .. the buys are very nice with clean traffic to the left .. nothing to stop it hitting target should we get a close up there.
Sells a little further away at 1944 to allow room for anything untoward in asian.
We are ignoring the spike up from Monday as ive put on the charts.
Ok gang happy trading .. shoot me a comment if you have any questions and follow along for constant updates during the day.
TommyXAU
EURJPY SHORT SETUP H1On EURJPY, I predict a decline towards 146, where we have a strong demand zone. After the sixth confirmed touch of a bearish trendline around 149, the price has resumed its descent. There is an expectation of a weak euro and a strong USD in anticipation of the congress, while the yen tends to strengthen in times of danger as it is considered a second safe-haven currency.
Let me know what you think.
Happy trading to everyone.