NOT buying USDCADThe USDCAD price has moved into the Daily sell zone, which suggests the possibility of new sell positions entering the market, potentially driving the price down. In the case that the zone is broken, there is a high likelihood of further price increases (which, in my opinion, is less likely).
For those looking to short, I would recommend looking for a simple breakout pattern on lower timeframes and participating accordingly. BUT make sure to wait until after the NFT news and observe what market will do with price.
Good luck, and stay cautious, don't forget it's Friday!
Supllyanddemand
Notcoin heading to a supply zoneThe last analysis I made, there was a chance that GETTEX:NOT would break the trendlin of the descending triangle. But it didn't, so we saw a bearish move coming from it.
Secondly there was an ascending channel which implies a bearish stance which happened over the past days already. The last line of defence for $Notcoin to pump again, is an old supply zone.
If broken, Notcoin could revist it's lowest prices.
Expecting a shift to the down side | GBPUSDGBPUSD have been ascending to the upside in 4H time frame taking the resent high as liquidity in to the supply zone (sell zone), regretless, the supply zone still holds since the daily time frame is bearish i am expecting a shift to the down side to take out the recent low at 1.27037 or the next at 1.26866 my expected target is 1.26624
EURUSD: Long trade activeThe daily has been in a range for the last 9 days but there has been some amazing trading opportunities.
However, the H1 is currently doing battle between a supply and demand level and feel the outcome of this will determine where the market moves next.
Im not fully bullish on this move until we break that strong swing high. My stops are at breakeven.
Here is my entry on the M5:
Please be aware that there is high-impact CPI news today so be careful out there.
Wyckoff Logic Supply and Demand GBPUSD
Technical analysis
Cause, distribution, equilibrium sequence between demand and supply between quotas , supply zone 1.26179 & 1.24113 demand zone .
Supply greater than Demand!
Implications, bearish!
Pattern Rally base Drop!
Effect generated by approx
300 pips.
SL 1.25162
Entry 1.23318, sell!
TP 1.20000
⭕ = circle
⏹ = square
🔺️ = triangle
Unit = ⭕ market
Polarity = 🔺️demand & 🔻supply
Equilibrium = ⏹ range ("the ratio between supply and demand is =")
PRINCIPLE OF DEMAND AND SUPPLY
The law of supply and demand
- here the analysts study the relationship between supply and demand , having as a reference point the price and
volume over a period of time as shown on the chart.
KEY DEFINITION
The law of supply and demand is of the utmost importance. If the application to
buy an instrument (currency pairs, stocks, commodities , metals, bonds, cryptocurrencies)
is higher than the available supply, the only way the demand can be met is
for the price to rise to a level that attracts enough supply to match demand.
When this point is reached, the price does not advance. If the offer to sell is
higher than the demand to buy, the only way the supply will be absorbed is as
the price drops to a point that attracts enough demand to absorb all
the amount. When that happens, the price doesn't go down.
nzdcad forex trading nzdcad is in a crucial demand area, in that area it can be seen that it has the potential to become the neckline area of the double top, but this is also a pretty good potential if it can become a buy area and the price will move towards the upper supply area and continue rising