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USDJPY - FAKE BREAKS & SHORTS AT RESISTANCEAs the USDJPY looks to violate the 111.00 even handle my guess is that a lot of traders will anticipate a bullish breakout. This may be true, but it also may be short lived as if you LOOK LEFT (Structure leaves clues) you'll notice 2 overlapping levels of previous resistance from the 1st quarter of 2020. Now there is certainly room to the upside for those getting long, as those levels are 75-100+ pips away, but personally I'll be looking for opportunities to short as we come into those highs taking more of a contrarian view (as I often do). I hope you guys are having a great week of trading & if you found any of this helpful please leave me a thumbs up. Also if you have any questions or comments please leave them below as I do read and respond to each one. Your Trading Coach Akil
Short
by Akil_Stokes
4
EURUSD Long Term OutlookCurrently not much on lower timeframes to be traded so looking at the larger ideas for now. We recently changed trend on the 1Day chart and the next turn point of this level is at the purple line shown at 1.14963. From there we may expect a continuation of the major (weekly/monthly) trend which is bullish. Currently the market is overextended and we should expect a pullback before continuing to that level. This pullback should be at the demand zone shown. From this demand zone, we should swing to the supply area and then a massive swing opportunity presents itself at that high to target the purple line. Next Trade: 1. Sell to Demand Zone (ONLY if an opportunity shows itself) 2. Buy at Demand zone (after confirmations) Housekeeping: Computer was down for a bit, then had to catch up on work. Glad to be back! Did a lot of work updating my analysis techniques as well, hope it serves well... ✅ Like if you like! ✅ Comment your thoughts! ✅ Follow me here to see more ideas as things develop! ~Blessed Trading~
by x_2_4
Which Way EURUSD?Looking at the market now, we had a great push from the spring point but failed to make higher highs. The pullback is also coming very deep right now, seemingly deeper than normal for a continuation from a spring. We do have a potential support level labeled as the LPS so will be looking out for that. PS. My computer was down earlier this week so unfortunately did not catch the sell. We are currently in consolidation so I'm largely sitting on my hands for now. Ideas welcomed! ✅ Like if you like! ✅ Comment your thoughts! ✅ Follow me here to see more ideas as things develop! ~Blessed Trading~
by x_2_4
EURUSD HTF Liquidity GrabThis is the rest of the details for framing up the charts and my current idea of this high timeframe liquidity grab. Current reaccumulation almost complete. The red zone must be broken for the creek to be considered broken. Once broken, we will look to catch the LPS and continue to trade higher. Note: Reaccumulations usually look like distributions up until the market jumps the creek. I am biased to my direction due to the higher timeframe perspective. If the red supply zone "holds" in the creek, we may consider it a distribution pattern and flip our bias to the sell side. Stay Flexible! ✅ Like if you like! ✅ Comment your thoughts! ✅ Follow me here to see more ideas as things develop! ~Blessed Trading~
Long
by x_2_4
2
EURUSD Getting Ready to Reach for New Highs!ANALYSIS UPDATE (See linked Ideas) Building on previous ideas, we have tapped into the MTF demand and moving upwards but reached a block and currently retracing. (See "EU MTF Update: Bull Train Leaving the Station!" Linked Idea) We tapped the initial point of demand but were unable to break the top (Updated the demand level 2.5 pips in hindsight) (See "The EURUSD Buys are Strong!" Linked Idea) Looking at it again, another demand level was found nearby. Expecting the market to drop down into this level, accumulating the orders necessary to push the market to new highs. Willing to sell off the red dotted line and then buy once we get down to the level shown. Discussion welcomed! ✅ Like if you like! ✅ Comment your thoughts! ✅ Follow me here to see more ideas as things develop! ~Blessed Trading~
by x_2_4
3
EURUSD Reaccumulation Complete? LAST WEEK'S RECAP The week played out perfectly! Price came down into our LPS zone and turned, showing the support that we anticipated to finish off the reaccumulation pattern and allowing an entry at the bottom of the next bull run! LOOKING AHEAD I'm anticipating this demand zone to push price all the way to 1.23496, so it's a matter of enjoying the ride and looking out for available seats. Based on this level of analysis, we can anticipate the HTF supply level as done and bulls are in charge. Forgot to indicate the latest demand on this HTF chart previously but will update if there is anything of value to add on the weekly level or above. Looking at what we have right now, a disciplined trader would wait for a pullback to at least the green line and find an entry off the order block. I am not always that trader... I might sell above the red line if a trade shows itself. Housekeeping: Black Charts! Haven't decided if I like black or white background more... ✅ Like if you like! ✅ Comment your thoughts! ✅ Follow me here to see more ideas as things develop! ~Blessed Trading~
Long
by x_2_4
EU MTF Update: Bull Train Leaving the Station!The market reacted to the HTF (dashed) demand zone and had a strong run upward into the supply zone. Within this run, HTF demand was updated and price reacted to it, pushing price to new highs and deeper into the supply zone. It's difficult to say whether there is any supply left to turn the trend around. It seems likely the market will continue its bull run into the liquidity above. Waiting to catch the train on a pullback into the current MTF demand zone. Next stop: Liquidity! ~Blessed Trading~
Long
by x_2_4
1
HTF Update: EU Uptrend Healthy?Markets are currently in an uptrend, continuing the move at the start of April 2021 after reaccumulating from August through November 2020. Looking at the supply that was tapped into in January earlier this year, price is not showing much sensitivity to the updated supply level. Therefore, expecting the market to continue rising, seeking the liquidity above the high. Typically, would want to see the high at 1.23496 broken to confirm new structure but as soon as the supply level has failed, expecting the low at 1.17042 will hold towards new highs. ~Blessed Trading~
Long
by x_2_4
2