Swing-trade
NZD/USD Weekly Forecast (20th July-24th July)A longer-term trade is outlined on the NZD/USD chart. A double top pattern is formed on a daily chart, and the RSI is also divergent for a couple of days. The price also seems to be bouncing off strong resistance. If the support falls, we have the opportunity to trade with a high risk-reward again. This idea is in line with previous EUR / USD plans, as both graphs point to a strengthening USD.
CHFJPY SHORT PRICE ACTION REJECTING MAJOR
CONFLUENCE AREA
(RESISTANCE LEVEL AND
4H MINOR AND MAJOR TREND LINE )
IN YELLOW BOX
GBPNZD LONGS HIGHER TFas we can see gbpnzd is approaching monthly demand, with nzd bullishness looking like it could be exhausted I see a buying opportunity on gbpnzd with a high ROI.
GBPUSD AnalysisGBPUSD appears to be rejecting 1.26 which is acting as a strong resistance, if we are to see the sterling decline from this area we've highlighted where we think price could be heading which also lines up with a key fib levels. From a COT perspective it appears banks have been propping up sterling in order to sell from a better price.
DXY AnalysisExpecting a slight pullback from this area to retest a previous supply zone & also the 200 MA which would cause us to see some dollar strength across the board. short term bullish, longer term bearish.
GBPCHF AnalysisGBPCHF is flirting with 1.21 once again, we've seen multiple rejections of this area so once again we are looking for sells for a low risk high reward setup. Fundamentally, we could see a second wave of covid due to the current protests. A lot of countries are also claiming lockdown measures are being lifted too soon. These rhetorics are causing a lot of uncertainty and this is yet to be reflected short term in currency markets as the last week of trading the mood has been very 'risk-on'. The markets are being very single minded and focusing on happier days ahead in a post lockdown world, ignoring the current crisis'. Longer term we are looking to buy the Sterling against safe haven assets but we believe we could see a dip lower before executing these positions, which can also be reflected from the COT positioning of hedge funds.
PRTY - Potential Bottom Swing PlayParty City is in no way sheltered from the current state of things. Most stores are probably shut down, but with all the increased buying I believe we have hit a bottom and can break up to an upper channel off its most recent move.
I do not have any shares of PRTY but will be looking on monday to buy in the area of 0.58-0.61 if I get the chance. First price target is 1.18 and depending on how strong the move is, I may ride some up to 1.66.
This is only a swing idea, I am not necessarily bullish on PRTY, but I do believe in the swing potential setup here.
GBPJPY AnalysisGBPJPY has approached the 132.800-133.000 resistance which is also a key psychological level. From here we could potentially see some rejection to retest the ascending trendline - which if broke could lead to further downside. We are also trading around the 200 MA for another confluence. From a COT perspective, banks are continuing to add shorts to the sterling, while the yen could see some demand due to global sentiment surrounding the american-china tensions.
GBPJPY AnalysisPrice is entering a period of consolidation at a resistance area at a descending trendline. At the moment, we are trading around the 132 key psychological level but 100pips north we have another resistance level which also lines up with the 200MA. Selling at current levels with stops above this area could offer a good R/R but be aware of some price manipulation and false breakouts to the 133 resistance area.
XAUUSD (GOLD) AnalysisRunning just under 1000pips on gold, we've highlighted potential pullback zones where we will be looking to add more positions. Good luck and trade safe
EURUSD AnalysisWe can see another test of support in the channel it's ranging in. We are entering this trade with our stop loss below the false breakout week in case price attempts to fill it or we see a stop hunt. From a COT perspective we are continuing to see shorts being taken off and longs being added to the euro.
USDCAD AnalysisA pullback on USDCAD would provide us with a good opportunity to go short on this pair. We will see 3 confluences with the 200 day MA lining up with a previous support zone and key fib levels within this area too. Fundamentally, If we are going to begin to see the price of oil starting to rise we will also see the CAD appreciate in value too. From a COT perspective banks are continuing to add short positions to the CAD which would suggest we will be able to see price continue to push higher. We will be looking to see how price reacts from our area to see if we can find any reaction and then the COT for confirmation.
Gold Swing Vision We Can Buy From This Area But it,s will Be Risky So You Must Use 0.01 For Every 1000$ And If It Break Out The Trend Up Take more one Buy
If The Price Break Out Yellow Area Enter Sell Trade With 0.03 For Every 1000$
Sl And Tp Later After Active Sell Or Buy ♥
#Wolf_Academy
Nas100 - smashed TP3 on the last 2 trades.Very simply strategy, the chart speaks for itself.
For more information on our strategy please view our 'Scripts' page on our Trading view profile.
Our V2 strategy shows the SL and multiple TPs on the chart too.
Works on all instruments
Directly onto your own personal trading view - all devices work
Non repainting
Regards
Darren
Blue FX
Nice short for 550 pips EURAUDLet’s see how this plays out direction is there for 550 pips if your not a swing trader trade each day but only take short opportunities till hits daily TP
EURJPY Analysis 100% retracement of last weeks gains and also breaking through our predicted pullback area. Could price be creating a triple bottom pattern and accumulate a stronger bullish move from this area?
EURJPY AnalysisHere we can see the 200 MA acting as a dynamic resistance. If we see a pullback into the 38.2 fib level of the recent push higher, which also lines up with a major support zone on higher timeframes then we could look for entries to go long. From a COT perspective banks continue to add positions to the Euro as market sentiment seems to be improving due to coronavirus cases/deaths decline from peak levels. This could induce a risk on environment and could cause the euro to rally.
Long swing trade / Intraday It broke the sloping resistance line with heavy volume.
Can enter long if the previous days high broken. ENTRY : 4915
Can book the profit at the swing high of 5090
AUDCHFWe have similar trade on EURAUD, Do not trade both zones if they arrive at the same time.
what do you think about this trade? drop a comment below for question
EURAUD on the bigger picture, it clearly shows the bear is in charge. our zone is on the 4H timeframe. we decided to cover the pivot to prevent the price from touching our stop loss. and the target is just before the daily demand zone.
S&P 500 - Potential Short on the 4H ChartIn this trade I intend on shorting the SPX, S&P 500 or US500 (depending on your broker) following a bearish breakout and close of the potential bearish rising wedge formation.
This trade is based upon the following technical factors that we can potentially see from the 4H chart:
1. Bearish rising wedge formation
2. Resistance at the 61.80 fib retracement
3. Decrease in volume with an increase in price
4. Upper monthly rising trend line is within close proximity which could act as another level of resistance if we push higher in the wedge
5. Elliot Diagonal Wave pattern - although this isn't a perfect formation, it is still a factor to consider
This trade is based upon the following fundamental factors:
1. The Fed can only do so much and most of the economic damage is still unknown
2. Much of the recent bull run, dead-cat-bounce or correction is now in what I believe to be the hysteria phase with no backed up reason as to why its still going up
Of course we can't dismiss the possibility of the continuation to the upside. The cases of COVID-19 are now getting lower each day and it appears that we are over the worst. This could be the reason for so much recent buy in.
The trade entry will be based upon a breakout and close below the bearish rising wedge formation. The SL for this trade will be above the 61.80 fib retracement and above the breakout area in case we get a re-test. The TP level will be targeted for the lower descending trend line which could act as a double-bottom within this price range of the recent lows. The entry and SL are variable depending on where we breakout of this formation therefore I won't be providing precise trade details other than the position in this chart.
