#USDCAD another sell opportunityPrice has formed a V-TOP chart pattern formation as you can see in 4H timeframe and also managed to close below 4H low which means that our structure now turned to bearish again. due to V-TOP formation price formed a bearish engulfing candle in Daily timeframe which is a strong signal for bearish move and also as we can see we are in overall in bearish move so we can interpret this daily candle as an continuation signal for higher wave cycle.
Now that we have bearish bias we should be looking for areas which potentially price can tap into in lower timeframe like 1H or lower, take out some liquidity and turn to the downside again.
Structureanalysis
#JPYbasket bullish move confirmationsyesterday red candle was not only a retest to a broken bearish channel upper line, but also head and shoulder neckline. in addition to these two confluence we should be aware that JPY index suffers a lot through past month during rate hike cycle of central banks and fall massively like never before.
But now that we have some confluences that we are close to end of rate hike cycle JPY has found some room to appreciate against other currencies and as a result in technical aspect we can see it had formed and broke bullish chart pattern and its no longer trading in bearish channel.
with the look at the text book chart pattern target we can see that price can come all the way up to the oldest bearish channel midline and from there we should be looking for other confirmation and change in macro-economy.
#EURCHF bearish move possibility from 2 areaAs you can see in the chart bearish impulsive move followed by a corrective bullish move which shows price intention of moving lower after completing its corrective move. now in this case we need to be looking for an area where corrective move may end.
for a bearish move to resume price need to take out enough liquidity in order to move down, as it can be seen in the chart 2 areas are close to price with enough liquidity resting above it. the closer is above the previous candle in the form of bearish engulfing and the further out area is a local top which formed in the bullish corrective move which price already test it twice and there are huge amount of liquidity there.
For taking a position from any of these 2 areas you need to remember:
that price need to tap into a area clearly. but unable to close above the area.
also it is possible that price fail to reach the zone but to engage in a position it should fit your strategy.
#GBPJPY selling opportunityprice bearish impulsive move broke market structure as well as short term bullish trendline to the downside. price is now below 1H, 30M, 15M EMA 200, and in last hour price formed a bearish engulfing candle which shows that sellers are now into the market after a short term bullish corrective move.
now that we have different confluence for bearish scenario we can sell this pair if following happen:
1- price fail to close above the arrow
2- price forming double top or failure swing formation. (both of the formations shows price failing to goes higher)
3- bearish engulfing candle stick formation
US500 BUY SETUPUS500 Structure is pushing upside, we can discern price approaching a Flip Zone aligning with Equilibrium fib level. I expect a continuation from this area
STRUCTURE - The key to success!STRUCTURING - The key to success! (Part 1)
That structuring and order is the key to success, most will have already heard and partially applied in their own lives.
- Chart analysis is no exception and after correct application the results are even monetarily noticeable.
- How this can be implemented specifically in "TradingView", I present to you in this article.
TABLE OF CONTENTS
1st Part = THE PROBLEM
2nd Part = THE SOLUTION
3rd Part = CONCLUSION
PART 1 = THE PROBLEM
"EVERYONE WILL KNOW THE EXPERIENCE,
TO HAVE SET A TRADE, TO BE SURE OF VICTORY,
ONLY TO BE MERCILESSLY STOPPED OUT."
In hindsight, you analyze your failed trade and realize that in another "Time Frame" an important support/resistance level was below/above your "Stop Loss" and the "Trade Idea" was already - BEFORE - INVALIDATED.
-> So one could have saved the "LOSS".
Most of us will analyze several "Time Frames" to know - which levels are strong/weak and relevant.
-> Regardless of the preferred "Time Frame", one will include the next larger/smaller "Time Frames" in one's analysis.
-> The more "Time Frames" you analyze and include in your final decision, the more confusing it gets.
-> The chart looks like a battlefield and the probability to make a profitable decision diminishes - significantly.
The time spent to put together the individual pieces of the puzzle to the big whole is no longer presentable.
= Headaches and a bad decision are pre-programmed.
To avoid this problem and to make the "Multi-Time-Frame" analysis as effective as possible. I have tested the possibilities provided by "TradingView" and worked out solutions that work for me.
-> I will present these in the following posts to inspire you and possibly provide a solution for an already existing problem.
The benefits of a working structure are:
"LONG-TERM TIME SAVINGS" + "SIGNIFICANTLY BETTER DECISIONS".
2. PART = THE SOLUTION
2.1. INTEGRATION OF THE OBJECT TREE
The platform provides an "element" overview - of all objects drawn in.
-> this option is an excellent way to structure all the objects located in the chart.
- If you haven't used this option before, you will probably belong to the majority.
- Unfortunately, this tool has not been sufficiently promoted by "TradingView", which is why it is unknown to many.
You can find the "Object tree" on the right side, at the very bottom. (Image 1)
If you have never used / structured the object tree before, it will look similar to our "UN-ORDERLY" example. (Image 2)
In the third image, you can see how it can be once you take the time to add order. (Image 3)
To get an overview, you can sort the drawn objects into groups and label them, depending on your own preference / structure.
- This works with a simple right click on the object (e.g. Fib-Retracement).
- There is then the selection "CREATE A GROUP OF DRAWINGS".
Once several groups have been created, you may need a placeholder.
Any is not provided by the program, but can be easily created yourself.
= Simply draw a point with the BRUSH tool.
-> switch off all Time Frames at Visibility
-> create own folder for this point with e.g. "- - - - - - -".
3. PART = CONCLUSION
With a little effort, order and structure can be provided here in the "much" edited charts.
How you want to set up this structure is entirely up to you. In case you need a little inspiration, you can take the one I created.
- - - - - - - - - - - - - - -
IDT - Supply&Demand
IDT - Fibonacci
IDT - Trendlines
IDT - Point of interest
IDT - Market Structure Break
- - - - - - - - - - - - - - -
HTF - Supply&Demand
HTF - Fibonacci
HTF - Trendlines
HTF - Point of interest
HTF - Market Structure Break
HTF – Volume level
- - - - - - - - - - - - - - -
LONG IDEA
SHORT IDEA
- - - - - - - - - - - - - - -
IDT = Intraday
HTF = Higher Time Frame
If this idea and explanation has added value to you, I would be very happy about a review of the idea.
Thank you and happy trading!
EURGBP Slow moving but likely to fall to supportWelcome back! Let me know your thoughts in the comments!
**EURGBP - 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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Brian & Kenya Horton, BK Forex Academy
US500 Short SetupUS500 is structure is bearish, trend is pushing down and right now we can discern price gravitating back to 1H order block. Let's wait and watch how price will react from this point of interest. Goodluck!
GBPCAD I Structure Trade I Short from Resistance 200 PipsWelcome back! Let me know your thoughts in the comments!
**GBPCAD - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Forex Academy
EURCAD Detailed Trading Plan! Let's GO!Welcome back! Let me know your thoughts in the comments!
**EURCAD - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Forex Academy
EURGBP New rising trend line +80 Pips Welcome back! Let me know your thoughts in the comments!
**EURGBP - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Forex Academy
CADJPY Swing Upwards +100 PipsWelcome back! Let me know your thoughts in the comments!
**CADJPY - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Brian & Kenya Horton, BK Forex Academy
USDCHF possible SHORT SETUPUSDCHF structure is bearish, price has approached our point of interest (POI)... we can see some reaction on 61.8% fib level taken from previous lower-high to lower-low and a trendline adding a confluence of resistance. I expect this pair to continue down as indicated on the chart
SILVER (XAGUSD) Key Levels to Watch 🪙
Hey traders,
Here is my latest structure analysis for Silver.
Resistance 1: 20.81 - 20.96 area
Resistance 2: 21.9 - 22.0 area
Resistance 2: 21.3 - 22.51 area
Support 1: 19.41 - 19.55 area
Support 2: 18.14 - 18.43 area
Consider these structure for a pullback/breakout trading.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GBPJPY Sell continuationGBPUSD: HTF trend is pushing down, recently price breached the counter-trendline to the downside. 4H we're looking at a harmonic cipher structure that can potentially sway to the downside. I'm expecting this pair to continue pushing downside to at least the marked target on the chart