Supply_and_demand
Gold lookoutI haven't been trading gold lately, bc of the All-time high being swept and by that gold followed some harder PA. I currently think gold is still bullish and that it could be a nice correlation between a potential DXY bearishness. Here are some zones i will have lookout for for some potential long moves or quick scalps! If this idea should be valid i would like to see price move below the weekly open immediately at the beginning of the week and then start to gain momentum later on in the week! Usually Wednesdays and Thursdays presents us the low or high of the week so that would be a nice confluence! i will be checking the daily and weekly open as i look in too these potenial buys! PEACE
possible sell on potential supply zone | USDCHFthe daily trend of USDCHF is down, creating a potential supply zone 0.87280 - 0.86830 on 4H time frame could possibly push price to the down side 0.85767 or demand zone 0.85209 - 0.84902.
the 4H supply zone has align with the daily down trend for a short term sell.
GBPUSD H4 Bullish ChannelGBP/USD H4 Bullish Channel: Opportunities for Both Long and Short
The GBP/USD pair on the H4 chart currently exhibits a bullish channel pattern, offering potential short-term buy and sell opportunities depending on price action. Here's a breakdown:
Buy Opportunity:
1. A potential buy entry could be considered near the current price as it hovers closer to the channel support. This allows for some buffer before a potential bounce upwards.
2. Targets for the bull case would be the upper resistance line or potentially even higher depending on momentum and confirmation from other technical indicators.
Shifting to Short:
1. A break below the lower support line of the channel would signal a breakdown of the bullish trend, opening up potential sell opportunities.
2. Entry points for shorting could be considered just below the broken support or on a retest of the broken line.
3. Targets for the bear case would be the previous swing lows within the channel or deeper depending on bearish momentum and confirmation from other technical indicators.
Central Bank Decisions:
Federal Reserve (Fed) Meeting and Interest Rate Decision (Jan 31): This is the biggest event. A hawkish Fed with a large rate hike (75bps+) and strong economic projections could significantly strengthen the USD against the GBP. Conversely, dovish hints or smaller increases could favor the GBP.
Bank of England (BoE) Meeting and Interest Rate Decision (Feb 2): While the BoE is expected to raise rates again, the focus will be on the size (25bps or 50bps) and future policy guidance. Dovish pronouncements could weaken the GBP, while hawkish inclinations might offer some support.
US Non-Farm Payrolls (Feb 2): A robust US jobs report might reinforce hawkish Fed expectations and weigh on GBP/USD. Conversely, weaker data could dampen USD strength and lend some support to the pound.
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Sell GBPCHF Bearish ChannelThe GBP/CHF pair on the M30 timeframe exhibits a bearish channel pattern, suggesting a potential selling opportunity in the coming minutes or hours. Let's delve deeper into the details:
Key Points:
Bearish Channel: The price has been trading within a downward-sloping channel defined by two converging lines: a falling resistance line and a falling support line. This pattern often indicates ongoing selling pressure and the potential for further decline.
Sell Entry: Consider entering a short position around the current price of 1.0940, which is close to the channel resistance. This could offer an entry point near a potential reversal point.
Target Levels: Initial bearish targets lie at the support levels of 1.0892 and 1.0867, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.0965. This helps limit potential losses if the downtrend breaks unexpectedly.
Fundamental Updates :
UK Bank of England (BoE) meeting minutes: Due for release later today, these minutes could shed light on the central bank's future monetary policy stance. Hawkish signals might boost the Pound, while dovish ones could weaken it.
Swiss National Bank (SNB) Chairman Thomas Jordan's speech: Scheduled for tomorrow, February 2nd, any comments about potential interventions or the economic outlook could impact CHF sentiment.
Thank you
XAUUSD|Breaking resistance zones and continuing growthHello friends, I hope you are doing well.
Yesterday, in gold analysis, we expected the supply areas to prevent the gold price growth, as we saw downward reactions from these areas.
But the selling pressure on gold increased and continued to move upwards.
A new upward trend has come in the form of an upward channel.
We had a resistance level in the one-hour timeframe, and now we see the one-hour candle closing above this level.
This means that gold can see higher prices.
My suggestion is to look for patterns to enter buy positions on reversals to support areas.
My target for the short term is the supply area (2047-2050).
Sell EURNZD Bearish ChannelEUR/NZD M30 Bearish Channel: Prepare for Potential Selling Opportunities
The EUR/NZD pair on the M30 timeframe presents a potential selling opportunity due to a well-defined bearish channel pattern. This pattern suggests ongoing downward momentum and a higher likelihood of further declines in the coming minutes or hours.
Key Points:
Bearish Channel: As illustrated in the image below, the price has been trading within a descending channel, characterized by two converging lines: a falling resistance line and a falling support line. This ongoing downtrend signals continued selling pressure.
Sell Entry: Consider entering a short position around the current price of 1.7691, which sits close to the channel resistance, potentially offering a favorable entry point near a potential reversal point.
Target Levels: Initial bearish targets lie at the support levels of 1.7562 and 1.7487, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.7750. This helps limit potential losses if the downtrend breaks unexpectedly.
Thank yuou
Xauusd buy & sellHello Friends, I'm back with another gold analysis.
Market is trapped between level 30 and 24 and is oscillating in 70 pips range. Above 30 we have level 37 then above it 47, in case market were to go down demand levels would be 16-12 and level 2008.
*Note that level 37 was tested yesterday and it would be second time being tested if price gets there.
Today's news will give energy to the market for next move so as always do your own assessment and analysis before taking any trades
*Be honorable
Sell NZDJPY Triangle BreakoutA bearish triangle pattern has emerged on the NZD/JPY 30-minute chart, signaling a potential decline in the pair's value.
Key Points:
1. Triangle Breakout Pattern:
The pair has been consolidating within a triangle formation, characterized by converging support and resistance lines. This often indicates indecision before a decisive move.
2. Sell Entry Opportunity:
A break below the lower support line of the triangle, around 90.10, could signal a bearish breakout and offer a potential sell entry.
3. Bearish Targets:
If the breakout materializes, initial bearish targets could be found at the support levels of 89.56 and 89.20.
4. Resistance Level:
The resistance level at 90.40 may act as a barrier to further upward movement, reinforcing the potential for a downside breakout.
5. Risk Management:
A stop-loss order could be placed above the upper resistance line of the triangle to manage risk in case the breakout fails.
Fundamental Updates :
Weaker New Zealand Trade Data: New Zealand's trade deficit widened in December, potentially weakening the Kiwi Dollar against the Yen.
Risk Aversion: Recent geopolitical tensions and concerns about global economic growth could trigger risk aversion, pushing investors towards safe-haven currencies like the Japanese Yen.
Thank you
Risky, potential buy on demand zone | USDCADUSDCAD Create a 1H demand zone, considering 4H buy sentiment i expect a continuation to the upside to take out 1.34921 liquidity.
Also USDCAD had gone extreme hence exposes to a taking risky potential long term buy , it may react to 1.35424 - 1.35047 potential supply zone.
BTC/USDT 4HInterval ChartHello everyone, I invite you to check the current situation on BTC in pair with USDT, taking into account the four-hour interval. As you can see, the upward trend line marked in yellow has been broken, and currently we can designate a local downward trend channel using blue lines.
Going further, using the fib retracement tool, we will determine the supports that we should take into account when the price starts falling again. And here you can see how the support at the level of $39,024 kept the price from falling further, but if the support is broken, the next level is $36,280, and then around $32,831.
Looking the other way, we can also use Fib Retracement to determine the resistances that should be taken into account. And here you can see that first we have resistance at the level of $45,469, then the level around $45,000 is significant, and then the price must overcome the strong resistance zone from $46,726 to $49,000.
Now please look at the RSI indicator because you can see that a small price increase was reflected in the indicator, which still has room for growth. However, the STOCH indicator shows that we are approaching the downward trend line, which may potentially cause the price to decline and drop again.
GBPNZD Presents Ideal Selling ConditionsIn the GBPNZD market, the price has retraced to an area of significant supply on the 4-hour chart, coinciding with an internal daily resistance level. An anticipation of a selling market is prevalent in this region. It's worth noting that the overall sentiment remains bullish on lower timeframes.
A prudent approach involves closely monitoring the structure on lower timeframes. It is advisable to exercise patience and await a discernible shift in market character from bullish to bearish before considering shorting opportunities. Wishing you success in your trading endeavors.
Buy USDJPY Triangle Breakout USD/JPY M30 Triangle Breakout Hints at Potential Upswing
A bullish triangle pattern has emerged on the USD/JPY 30-minute chart, suggesting a possible shift in momentum towards the upside.
Key Points:
Triangle Breakout: The price has been consolidating within a triangle formation, characterized by converging support and resistance lines. This consolidation has now given way to an upside breakout, potentially indicating a renewed bullish trend.
Buy Entry Opportunity: The break above the triangle's upper boundary around 148.10 presents a potential buying opportunity.
Bullish Targets: If the upward momentum continues, initial targets could be found at the resistance levels of 149.04 and 149.43.
Risk Management: To manage potential downside risks, a stop-loss order could be placed below the triangle's lower support at 147.70
Additional Considerations:
Keep an eye on broader market sentiment and economic releases from both the US and Japan, as they can influence the currencies' relative strength.
Employ proper risk management practices, including appropriate trade sizing and stop-loss orders, to safeguard your capital.
EURJPY: Harmonic Bat and Rising Wedge Unveil Insights...SELL?Greetings, fellow traders! In the context of EURJPY, a discernible pattern is emerging as the price unfolds within the confines of a rising wedge. Notably, this pattern is converging towards a prospective supply zone, coinciding with the culmination of a harmonic bat pattern as it reaches its D leg.
Anticipation of a market shift towards selling becomes more apparent in light of this convergence. The confluence of factors, including the potential completion of the harmonic bat pattern and the formation of the rising wedge, adds weight to the expectation of a downturn. The significance of this scenario is further underscored by the likelihood of a breach in the supporting trend of the wedge.
Closely monitor this juncture, as it presents an opportune moment for strategic decision-making. Exercise due diligence and consider leveraging this insightful confluence for informed trading decisions in the evolving EURJPY market. Happy trading!
How to identify high quality Supply and Demand zonesSupply and demand zones are powerful tools to find high probability trades. If they are used in the correct context they offer a high win rate and a very controled risk. These are some of the characteristics that high quality zones have:
•When a good zone is being created in real time you will watch that price pushes down/up with aggressive price action and follow through after the basing candle. Heavy volume on the development and candle closing at its highs are also good indicators.
•A high quality supply/demand zone is the one that creates new lows/highs. That means that it was able to push below/above the prior low/high.
•In short time frames, shorter than 1 hour, you would probably find good supply and demand zones to have a continuation of the trend. For example, if a Future is in an uptrend pay attention to the demands that are created in that trend and then when price pulls back to it look at the price action in the zone. Have in mind that in uptrends, demand zones are reliable and supply zones have a much lower probability of working. The opposite scenario happens in downtrends were supply zones are higher probability and demand zones should be avoided.
•In higher time frames, a very strong supply or demand zone could be an area for a change of structure (from an uptrend to a downtrend for example).
•A good indicator of a reliable supply/demand zone is when price pulls back to it and the candle has a strong rejection as it touches the zone, meaning an upper/lower wick is created below/above the zone. volume is developing with no follow through (orders hitting strong ask/bid in the tape) and the candle does not close inside the zone.
•Speed heading into the zone is also relevant, a high speed drop heading in to a demand zone is a good area to trap late sellers.
•If for example FX:EURUSD has a demand zone and TVC:DXY has a supply zone or a resistance level and both are having retracements from their trend, that could be a good opportunity to go long and also if price action gives an extra confirmation. This means that confluence is key for a high probability trade when using supply and demand zones.
• Use the concept of relative strength/weakness when using confluence with other charts.
Example: A 2 hour demand zone in Brent Futures $NYMEX:BZ1!. Notice how the red candle that reaches the zone is a strong one with higher volume and is not able to close inside the zone, It prints a lower wick and closes above it giving the demand zone a good price action confirmation.
XAUUSD BUY AND SELL ScenarioHi guys,
I'm back with another analysis on gold , Market reacted to my levels from previous analysis. Now new levels are available for both short and long trades.
Market is moving up now and there are multiple supply levels available some fresh and some tested before. level 32 is our immediate supply level, following that we have level 43 then 47 and higher levels.
To go long we also have level 24 which market reacted to, hours ago. Below it we have level 19 and 16-14 then 2008.
#As always add your own logic and intuition into this.
#Make sure you pay attention to the news which will be released in an hour.
Be honorable