Get started

Sundaysetups

Could Daily Engulfing Candle Signal Where Breakout Heading?So we respected a bearish harmonic on the daily. But this multi-day consolidation is preparing for a big move. But I'm curious will the move be strong enough to break the monthly zone of 136.218 and make a bigger push down if this is going to be a major short? Otherwise, I do see a bearish engulfing as the last candle sitting on this daily zone. So it may be signaling the bull will begin this week. We'll see. BULL TPS: • 138.252 • 139.019 • 140.638 BEAR TPS: • 137.239 • 136.390 • Only id the monthly zone is broken…135.464 • 134.650
by NikaJourney
1
forexTrdr SundaySetups GOLD - TO RESIST OR TO SUPPORT Good afternoon traders, As part of our #SundaySetups we are taking a look at gold and its recent wild ride from 1350 area all the way back to the high 1270s. Looking at our trading view chart we have tried to cut out the noise, zoom out to the daily charts and highlight the support line that Gold has found at the 1275 area. Gold traded sideways for the large majority of last week before breaking higher to test resistance around 1287 closing at the top of the candle daily range suggesting we may see a break higher into next week. Mondays trading will be key for gold, a move higher breaking through both price resistance at 1287 area and the RSI declining trendline we have highlighted would lead to a retest of the descending trend line around 1298 before a likely pull back and a fall back into the higher lows pattern and closing the week at a similar price to Fridays close. Both the volume on Fridays move higher and the stochastics crossover and turn up higher from last weeks oversold nature add weight to the potential retest of resistant around 1298-1299. Quick clean technical analysis that hopefully everyone can follow. As always comments and feedback are always appreciated from anyone in the trading community Have a good week trading! from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
TVC:GOLDLong
by forexTrdr
3
forexTrdr SundaySetups GBP- WANT A CUPPA OF GREAT BRITISH POUNDGood afternoon traders, As part of our #SundaySetups we are taking a look at the good old British Pound versus the Aussie Dollar. Unlike our gold setup we are sticking to our 4 hour favoured time frame and highlighting the formation of a Cup pattern on our trading view chart and potential break out higher for the pound. So looking at our chart we started last week in a consolidation pattern with many market participants out for Easter holidays, by Wednesday we had a strong break out higher after inflation data from Australia and since then we have had a lower higher lower lows pattern forming. The key part of this however is that we had a bounce and close above support around 1.8315 then a close higher on the daily and weekly. Now since 8th of April we have started to form a Cup pattern, a U shaped pattern forming over the 2 week pattern with periods of consolidation and closing with a strong break higher followed by a series of lower highs and lower lows forming the handle part of a cup. When cup patterns form the handle part is followed by a breakout higher- in this case we would be looking for a retest of upper resistance around 1.8460 to 1.85 providing upside of 150 pips. Secondly on RSI front we have been able to close above 50 since last Monday and maintaining this into early part of next week gives further confidence to the idea that the pair are due to break higher towards that 1.85 resistance area. However we would look for confirmation of this both on RSI front and stochastic crossover and turning higher before pulling the trigger on a long. As everyone is well aware British pound is dominated by political headlines around Brexit and a (never ending story of) potential leadership change within the Conservative party so capital at risk has to be reduced to account for a higher risk of the unknown. As always this is not a trade recommendation and simply technical observation. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
1
forexTrdr EURCAD- ALL OF THE LIGHTS LINING UPGood morning traders, And welcome to a new week- our recent tradingview charts were unfortunately removed due to us breaking house rules of including our website in the title. So we are reposting this Euro Canadian Dollar setup from Friday which is still live. Looking at short setup on Euro versus Canadian dollar as multiple technical indicators line up to show this pair in overstretched, over bought territory oddly as oil continues to rally today (in Canadas favour) and Draghi reiterated the potential for using more instruments for forms of Quantitative Easing at yesterdays ECB central bank meeting. On technicals front we have overbought levels on RSI , top of the range levels on stochastic and bollinger bands. Quick simple technical indicator driven trade. Good luck trading Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
forexTrdr Sunday Setups: USDJPY WHERE THEM BULLS AT??Hi all and welcome to our Sunday Setups a new technical analysis piece where we are looking to showcase our work and highlight our 20 years of professional trading experience at the worlds best Investment Banks. Our aim is to keep analysis simple so that anyone can follow and learn from our work and hopefully our past performance highlights why we are different. Interested in finding out more? Head over to our profile page and please give us a follow Please comment and leave feedback- we will be bringing our analysis via video soon Where those bulls at on USDJPY? Thursdays failure to breach or even reach the 5th of Marchs high at point B (112.13) suggests Bullishness is fading and we are seeing the start of a descending triangle. Add in a strong technical that we are not going to discuss here we are looking for a test of the green support line from January lows and potential move down to the lower purple resistance level around 110.3. Key here is a breach and hold below the Jan support level. If we bounce and are subsequently able to breach 112.13 then bullish mode re-engages and we test the .786 fibonacci level from October high (112.3 area blue line). Week Ahead Sunday 17th March: Japanese import/export and trade balance data - very low impact Monday 18th March: Japanese industrial production data - medium impact Tuesday 19th March: BoJ policy meetings - potential for high impact US Factory Orders & Durable goods - low impact Wednesday 20th March: Fed Meeting - potential for high impact Thursday 21st March: Japanese Inflation data - medium impact Friday 22nd March: Japanese PMI - medium impact Trend : Ascending trend line supporting market since Jan low. Month to date showing lower highs Tech levels: Major keys to upside: 112.13 point B and 5th of March high that failed to breach last week 112.35 area- Fibonacci support from October high Major keys to downside: 111.24 area January support line 110.88 point C on chart
Education
by forexTrdr
3
forexTrdr Sunday Setups: EURUSD ALL EYES ON THE PRIZE.. 100DMAHi all and welcome to our Sunday Setups a new technical analysis piece where we are looking to showcase our work and highlight our 20 years of professional trading experience at the worlds best Investment Banks. Our aim is to keep analysis simple so that anyone can follow and learn from our work and hopefully our past performance highlights why we are different. Interested in finding out more? Head over to our profile page and please give us a follow Please comment and leave feedback- we will be bringing our analysis via video soon First on the agenda is EURUSD- as per chart we have a descending trendline dating back to September, what we are looking for here is a potential retest of the 100 day moving average (1.1367) before a pull back to year to date lows and a move to 1.1130 area over the next few weeks. Risk is we have a break out to the upside and escape out of the descending trendline towards 1.142 area. Countering that however, from tech perspective, the pair is at the top of the overbought range on RSI (bottom chart). From fundamental side European growth continues to come in at the lower end of recent performance and the ECB has announced further stimulus through the extension of TLTRO- a form of cheap funding to the banking sector. US continues to storm ahead on growth and looks to have bottomed out in January- last weeks NFP looks nothing more than a fluke number which occurs from time to time. This week we have Fed meeting on Wednesday where we expect to hear comments around growth having bottomed out at start of year and a pickup in economic activity in line with what we are seeing in other forward looking indicators and Chinese stimulus. Week Ahead Tuesday 19th March: German ZEW Survey - very low impact US Factory Orders & Durable goods - low impact Wednesday 20th March: Fed Meeting - potential for high impact Thursday 21st March: European consumer confidence - low impact Trend : Descending trendline since the high on 24th September Series of lower highs and lower lows since start of 2019 Tech levels: Major keys to upside: 1.1367 the 100 day moving average and around the top of the descending trendline from September 1.1418 February high Major keys to downside: 1.1290 January low 1.1235 February low 1.1187, 61.8% retracement of 2017 low to 2018 high 1.1177, YTD low
Education
by forexTrdr
4