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Supply and Demand

#GBPJPY: UPDATED VIEW 24/10/2024 **GBPJPY UPDATED VIEW BASED ON PREVIOUS ANALYSIS** Dear Traders, I hope you are doing well. Based on our previous analysis of GBPJPY, we identified two potential selling opportunities within the market. However, the bullish sentiment in the DXY currency pair has had a significant impact on JPY, causing it to fall short of its full value within the daily timeframe. As of today, we have observed a potential exhaustion of DXY’s bullish momentum, with four-hour candles indicating a strong bearish pressure. This development presents an opportunity for JPY to rebound, potentially allowing us to secure substantial profits within the market. Now, let’s focus on the GBPJPY currency pair. The price has extended its bullish trend, although there is a possibility of a reversal from its current position. We recommend implementing appropriate stop-loss orders for any sell entries taken from the current market price. If the initial entry fails, we are confident that the price is likely to reverse from our second entry. Before making any decisions based on this analysis, it is essential to conduct your own research. This analysis is solely for educational purposes and should not be considered financial advice. We appreciate your feedback and support. If you find our work valuable, please consider liking and commenting on our ideas. Additionally, following us will provide us with encouragement and motivation. Best regards, Team SetupsFX_
Short
by Setupsfx_
19
Cardano updatethe price is overall bullish and last night I shared an update about the previous day and week's highs getting swept. the price will take a while to go and actually reach that zone for possible sales and we can take advantage of this bullish move. the price took external liquidity and currently heading to take the external low as well( E to E sweep). so this a very risky trade due to price can easily run the liquidy and go deeper. but I set a limit after the sweep of the weekly low that has not been yet swept, for a possible bullish momentum toward the upside. targeting 1:2 and stop loss below the previous week's low. this is not a piece of financial advice just my personal opinion. Best of luck traders.
Long
by IEatGreenPaper
EURUSD Reversal in Sight: Is a Bounce to 1.095 Next Or 1.05?In my last EURUSD trade post from August, we anticipated a strong sell-off from the 1.12 level (see related post). Price action has unfolded just as expected, with a sharp decline in recent weeks. So, what’s next? Looking at the charts, a short-term correction toward 1.09500 could be on the horizon. Let’s break down the charts. Starting with the Monthly charts, we can clearly see that EURUSD has been range-bound for nearly two years, fluctuating between 1.12 and 1.055. Zooming into the weekly charts, the recent sell-off has driven the price deep into this range, reaching two key support levels: diagonal support and the August low, both highlighted in the image below. However, we can’t start buying at these levels just yet. The next step is to zoom into the daily charts to check for any signs of momentum shifting. On the daily charts, the downward move is clearly overextended, and the market is extremely oversold—my first clue that a potential buying opportunity may be approaching. To confirm this analysis, I’ve zoomed into the 4-hour chart, and here I’m seeing divergence on the MACD, suggesting that sellers may be running out of steam. My strategy for this setup is to wait for a break of the 4-hour trendline, then watch for the next correction downward. Once that happens, I’ll use my TRFX indicator and enter on the first 4-hour signal. The target for this trade will be the 1.095 resistance level, as I expect buyers to re-enter here, potentially pushing the market back down to the bottom of the range. Let me know your thoughts below!
Long
by TheFxAce
5
Bearish Trend Targets 42,450 Unless 42,910 BreaksUS30 Technical Analysis The price has dropped by approximately 500 points, reaching the support zone as anticipated in yesterday's analysis. It has now stabilized below the pivot zone, indicating that the bearish trend is likely to continue, targeting 42,580 and 42,450. As long as the price remains below 42,770, it is expected to decline further toward 42,450. Conversely, a break above 42,910 would signal a shift to a bullish trend, with the next target at 43,215. Key Levels: Pivot Point: 42770 Resistance Levels: 42910, 43050, 43215 Support Levels: 42590, 42450, 42300 Trend Outlook: - Bearish By stability below 42770 - Bullish by stability above 42910 previous idea:
OANDA:US30USDShort
by SroshMayi
USNAS100 - Sensitive Parallel channel Technical analyse The market is currently in a consolidation phase, trading within a descending channel. A fake breakout occurred below the support line, but the price has quickly recovered and is now testing the upper boundary of the descending channel. If the price breaks above 20,420, this could confirm a bullish reversal, with potential upside targets around 20,717 and 20,900. If the price fails to break the channel and the consolidation zone, a bearish move could resume, retesting lower support levels at 20,126 or 19,990. The key bullish support area is at 20,420, as breaking it would likely support the upward move toward 20710. For now, monitor the breakout from the channel and consolidation zone for a clearer direction. Key Levels: Pivot Point: 20330 Resistance Levels: 20480, 20540, 20710 Support Levels: 20230, 20130, 19990 Trend: - Bullish above 20330 - Bearish below 20330
OANDA:NAS100USD
by SroshMayi
GBPJPY - Look for Continuation Long (SWING) 1:4!GBPJPY isn’t showing any signs of reversal yet, especially following the election of Japan’s new PM and the recent BOE decision to maintain interest rates. Technically, the price appears to be forming a symmetrical triangle, suggesting a potential breakout from the resistance trendline. If confirmed, this could propel the price to the next Supply Zone on the higher timeframe. Disclaimer: This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Long
by S-Fx_
1
What wil it be CAD/CHF?? want to go on a date ?a bulish or bearish move has been on the minds of alot of people. i even dream about a move sometimes. but like alot of things we just look but dont touch....but today/this week we might have a change coming to that saying. on the daily timeframe we have a nice demand zone with a clean legg out. price came back to the zone and gave us a rejection on the daily already. but the official entry for me is going deeper that. when we look on the 4H timeframe we have a nice demand zone waiting to receive some love. now what i want to see is price falling to to the 4H demand zone with a nice clean rejection for a nice entry for a possible bullish run.
Long
by Glitchz_99
8
Price Reversal at Key Support with Consolidation ExpectedTechnical Analysis: The price has reached the previously identified support zone and has once again reversed its course. At present, it is anticipated that the price will attempt to reach 5,863, provided it continues to trade above the 5,824 and 5,800 levels. However, the price is likely to remain in a consolidation phase between 5,863 and 5,824 until a decisive breakout occurs. Key Levels: Pivot Point: 5837 Resistance Levels: 5863, 5891, 5939 Support Levels: 5824, 5812, 5781 Trend Outlook: Bearish below 5824 Bullish above 5824
OANDA:SPX500USDLong
by SroshMayi
GOLD / Bearish Correction Below 2738, Bullish Continuation AboveThe price has risen precisely from the correction support as we previously anticipated. It now appears poised for a correction towards 2729. If the price stabilizes below 2738, this signals a potential further decline toward 2721. However, if it holds above 2738, the bullish trend will likely continue, targeting 2748, and 2758 and potentially extending to 2775. Key Levels: Pivot Point: 2738 Resistance Levels: 2748, 2758, 2775 Support Levels: 2721, 2710, 2697 Trend Outlook: Bearish Correction till 2721 Bearish trend By stability Below 2738 Bullish: Above 2738 Previous idea:
OANDA:XAUUSD
by SroshMayi