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Topdownanaylisis

LONG GBPUSD Outlook and Projection Top Down Analysis1 minute ago This is my first post and I will like everyone reading it to maintain an open mind as I will be analysing the GBPUSD 0.03% chart based on current price action. Later I will discuss my trading strategy (and a bit about my 11years trading background) which should be easy to follow and do not hesitate to ask questions in case you felt I left certain explanation or you are particularly lost. The Sterling has been performing better than it's US Dollar 0.01% counterparty as of 9th August 2017 from October 2016 and it will be worthy to note some significant development to shape my decision making in the next coming weeks. As of today 9th August 2017 I will discuss a top down analysis approach starting with a weekly chart. There are are couple of fundamentals data coming out of US and UK,this data such as : CPI 0.18% in the 2 region Retail Sales University of Michigan Consumer Confidence data All these data in the fundamentals can have some impact in the move we can see in the GBPUSD 0.03% going to next week. 1.From my Technical Perspective,there has been a Weekly 12EMA crossover the 36EMA to the upside. I read this as a potential signal of trend change in the making and I will add some other indicative reasons to this to maintain a bias in the move I will be expecting over the coming week. Bear in mind I will always maintain Long,Short or Neutral Zone indication as price develops. 2.Before that Weekly Crossover to buttress or add to confluence of indications that I will be considering will be the Market failure.Market failure is an indication that price has failed to make a new lower low and this higher low is formed at 1.19873. If we trade below 1.19873 that new trend that is potentially forming has been reset and new reference will be the Real low. 3.A new High @1.3048 formed after the Initial High @ 1.2775/95 has confirmed the beginning of new trend. A new higher low will be followup @1.2639 4.A 2nd Higher High was formed recently @ 1.3268 to further consolidate my current long bias.At this high we hit our longer term down/resistance trendline @ the 8th point.This zone is a Huge Significant zone that can send the price of GBPUSD 0.03% Technically to a new lower low below 1.16496 potential to a new bearish target. And that is why the UK Manufacturing Production Data that is expected tomorrow can be of a directional biased in the currrent price action of GBPUSD 0.03% .The last data came out @ -0.2% and the previous 4 also came out missing expectation at negative numbers. Having 2 quarters of negative data released which tomorrow one is anticipated positive can send GBPUSD 0.03% rate down potentially a 6 months of negative fundamental data is classified as recession.Although technically price are looking strong at the back negative Dollar we are seeing currently in the market. 5.A new higher low is the expectation and thus I will be building my Longs around Support Zone: 1.29328- 3 Week Low 1.2945- Weekly 12 EMA as Support bounce 1.2989- 2 Week Low FOR DAY TRADING STRATEGY(Next 2-4days) Long Setup if the day close as a potential Doji The strategy will be I will split whatever 2% of my account capital is into 3 and take 3 different position at 3 different prices above. STOP LOSS will be managed around 1.2785 Targets will be looked for around d zones of 1.3050/100 Initially. SHORT SETUP Scenario BUT for a weekly Short Continuation should in case the data came in Negative for Sterling on a huge level tomorrow. Any close below Monday Low 1.2952 can resume the further Shorts coming into the Sterling against the Dollar to target a huge Support Trendline and 200EMA @ 1.2967 area towards Brexit low @ 1.2795 zone. As of the current moment when am publishing this outlook the GBPUSD 0.03% is looking a bit positive of about 0.1% and 14 pips daily range positive and for as long as we are above 1.2965 Monthly and 1.2988 Weekly Support area the bias is looking positive into some important fundamental d
Long
by BolaBalogun
More clues make an evidence! (CADJPY Analysis)Hi guys, i want to bring your attention to this situation on CADJPY. Here we are on the 4hr chart but i usually start my top down analysis from the daily. On the daily i've outlined with the black line the structure level where price is sitting right now. This is the first thing i look for to create a case for entry. Also, in the dialy timeframe price has recently gone oversold. As we go down on the 4hr you can see how price has reacted to that level. At the first test there's a pin bar (long wick), at the second test price fails in making new lows. What does it tell us? Maybe trend is changing. In addition to that, the RSI on this timeframe is in divergence. All this clues together boost my confidence on this particular trade. Stops below the low. Target1 at 1,20 RR roughly, target2 to be determined. Let's see. If you want to share your viewpoint, please don't hesitate to comment. Otherwise, see you in the next chart!
Long
by Roker1
5
LONG AUDCADHere on the AUDCAD we have what i see as a good opportunity to hop on what i am hoping to be a reversal or just a brief retracement from our bearish move on the higher time frame. I did alot of different analysis in order to get involved in this trade, so instead of typing it here i have decided to do a video tutorial on the analysis i did for the trade on my YOUTUBE channel in the hopes that anyone who is struggling at trading will get to see how to do top down analysis, price action symbols and other indicators to spot reversals and trend continuation opportunities. Go to my channel and subscribe so that you are alerted when i publish the video. Good luck trading! YOUTUBE CHANNEL LINK: www.youtube.com
by StevenH
1
EURUSD Possible 2618 on the Daily So have been looking at other possible ways this pair could move. Now if we look at the Monthly Chart we have had our Double Bottom and impulse leg up and a start of a retracement. And will be looking for the 618 retracement to get long. This idea is all speculation but just a look at a possible path to how we might get there. So from the 4 hr chart we have seen some bullish movement and I feel that we will see a bounce up to previous highs of around the 0.79064 level. This would give us our double top on the daily and for this to be a 2618 type trade we are going to be looking for that impulse leg down to the 618 level and then the bounce up. As you can see with my trend line it shows where the 618 level on the Monthly retracement would be which imo would also be a fair assumption of where we could see this double top retrace to and then bounce.
Short
by Wonour