GBPCAD 4H Swing Long4H Demand was just tapped into while forming RSI Divergence. We should see a nice reaction from here to confirm the trade. This will be a swing for atleast a week adn a half so get comfy and let it do its thing.
Swingtrade
GBPCAD: Bearish Continuation 🇬🇧🇨🇦
GBPCAD has nicely respected a resistance line of a falling parallel channel.
The price formed a double top on that and broke its neckline to the downside.
I expect a further bearish continuation now.
Next support - 1.555
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FDX (Falling Wedge Pattern)FDX has broken out of this falling wedge / bull flag pattern on the daily in addition to breaking the 200MA again, right at previous resistance turned support. It has also broken structure to create a higher high. NYSE:FDX
Trade Idea: Wait for pullback & retest of the red wedge resistance line & 200MA to show they have turned support and begin the formation of new higher low w liquidity run then enter for a long swing / LEAPS play to ride the price back up to the previous supply zone then watch for break and hold of that zone.
Entry: TBD (Will update)
Targets: $254.80, $264.85, $279.28, $299.37
SL: $194.25
Disclaimer: This is not financial advice as I am not a financial advisor. DO NOT blindly follow anyone and leverage money that you cannot afford to lose without proper knowledge to back your decision making.
GBPCAD 4H SwingGC is approaching a very nice 4H Demand Zone. WIll be waiting for zone to be tapped into. I will watch the 15min or 1H to create RSI Divergence for entry.
MarketBreakdown | EURJPY, EURCHF, GBPCAD, GBPCHF
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ EURJPY - Daily time frame 🇪🇺 🇯🇵
I see the signs of a bullish accumulation:
the price has already set two equal highs and keeps setting higher lows.
I believe that we will see a breakout attempt of a current horizontal resistance.
Daily candle close above that will trigger a bullish trend continuation to new highs.
2️⃣ EURCHF - 3 days time frame 🇪🇺🇨🇭
The pair is approaching a solid horizontal zone of demand.
Be prepared for a breakout attempt.
Its bearish breakout will trigger a bearish continuation to a year's low.
3️⃣ GBPCAD - Daily time frame 🇬🇧🇨🇦
As I predicted, GBPCAD dropped nicely.
The pair formed a double top formation with a lower high.
Its neckline violation signifies a highly probable further decline.
4️⃣ GBPCHF - Monthly time frame 🇬🇧🇨🇭
The pair is currently approaching a wide weekly demand cluster.
Taking into consideration that the market is very oversold, I believe that we will see a pullback from that structure soon.
Look for a confirmation on lower time frames to buy.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GBPCAD - Catch This Massive Swing 🚀GBPCAD is currently in a big ABC correction. We saw a really complex midsection (wave B).
We are now looking for bullish price action to catch wave C, which is going to be a massive 2500pips.
Trade Idea:
- we are currently seeing a brief retracement on lower timeframe. Watch for that to complete and bullish price action to appear
- When bullish price action appears, enter with stops below the lows
- Targets: 1.66 (1100pips), 1.76 (2100pips), 1.8 (2500pips)
Please be cautious when trading GBPCAD as its really volatile.
Goodluck and as always, trade safe!
$CHWY - Perfect RejectionTaking some $CHWY 7/1 34P @ 1.34 here.
$CHWY is becoming increasing overbought, and we got a gnarly rejection off of our trendline, and our supply zone.
$TGT - Tightening WedgeOur wedge on the four hour chart continues to get tighter.
Can play a break of this in either direction.
Upside will likely be confirmed with a break of 144, while downside is confirmed under 137.
EURAUD Short4H Supply, 15min RSI DIv for the entry. You know the drill, stops outside zone, TP at 4H Demand.
EURJPY 4H ShortEJ has tapped into Supply and we hvae 15min RSI DIv for the entry. You know the drill, stops above zone and TP at Demand.
EUR/NZD: Bearish signs are increasingEUR/NZD: Bearish signs are increasing
> Double-top in the daily and H4 timeframes
> possible break of structure with current H4 candle
> first lower high and lower low outside of the upward trend shows change of sequence
> POC above current price levels
> Head and Shoulder formation
Look out for our new stream tomorrow (Tuesday) at 8:00pm Berlin time!
Meikel & Team WSI
EURUSD: 2 Structure to Watch Next Week 🇪🇺🇺🇸
Hey traders,
Even though this week was quite bullish for EURUSD,
remember that the market is trading in a bearish trend and we remain bearish biased.
Next week, I will be looking for shorting opportunities from 2 very important areas:
Resistance 1: 1.062 - 1.0655
Resistance 2: 1.074 - 1.079
I will expect a bearish move from one of these zones.
Let the price reach them and then look for a confirmation to sell.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
EUR/AUD likely to go UP!Hey tradomaniacs,
due to the risk-off in equities caused by the strict hawkish monetary policy aswell as the fading credibility of Powell after his statement we might see another pump by EUR/AUD.
Technically a good spot to go long here.
What do you think?
EURUSD LongEU is approaching a very nice 4H Demand Zone. We will wait for 4H to form RSI Divergence before entering into this trade. Stop will go below the zone.
DAX Index: Be Prepared For a Breakout Trade
What a bearish rally on Dax Index:
for the 4 consecutive days, the market is falling sharply.
Ahead is key horizontal support.
I will be waiting for its bearish breakout to short the index.
Next support will be 12550.
Remember that you need a daily candle close below a blue support to confirm a breakout.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
What Actually Happened To Bitcoin Price Action EditionSo I decided to see why this big ol' drop is happening with Bitcoin.
The answer?
We're filling a very old order block that was never
completed in July 2021. So it makes sense price has dropped ALL the
way to where we are now. Time to analyze where we may be going from
here.
According to this current situation, once the years-old order block is
retested, we should make a long push back up to the 38810.05 weekly
zone since it was never retested on the 4hr. It just dropped like a brick.
If we are not ready for the giant uptick back up yet, and we
breakthrough the monthly 28990.63 zone, the next pivot area will be
24337.80 daily zone. We're about to find out what happens.
BULL TPS:
• 32788.17
• 34337.72
• 35504.62
• 36622.43
• 38810.05
BEAR TPS:
• 29315.72
• 27774.40
• 26233.07
• 24475.42
Bitcoin long opportunity on this pullbackAs bitcoin price fell hard today, it hit the demand zone on 1D timeframe. Looking for longs to 26800 level where the supply awaits on 4h timeframe.
