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GBPAUD | Daily | Trade IdeaAhead of tomorrow’s RBA Interest rate announcement I’ll be looking closely at GBPAUD, as we can see from the current GBPAUD chart from a top-down and a down-up perspective we can take note of the fact that after managing to break out of the downward retracement last month, GBPAUD mamaged to push steadily upward until reaching our 1.94150 area before “losing momentum” forming a consolidation which has lasted for the past few days from the 17th of January till today where it has been steadily trading sideways. With the RBA Interest rate decision underway we can expect GBPAUD to finally choose a direction and breakout of the current consolidation, and from my analysis I can expect the GBPAUD to break in an upward/bullish direction pushing towards our 1.97xxx level hence I’ll be looking to hold my current GBPAUD (BUY) positions for now which haven’t yielded much results thus far. Will be sharing more updates on GBPAUD towards the end of trading tomorrow or early Wednesday morning. Please take note that this analysis is comprised solely of my personal opinions and outlook of the current market and should not be mistaken for financial advice or indication to enter into a particular trade, please confirm with your own analysis first before entering any trades based on the information from the current chart.
Long
by mosa_moshka
Yemi_Fx1 | Short Opportunity on USDJPY After three weeks of consolidation, USDJPY finally erupted, driven by the NFP release. This impulsive move respects the 90% rule. However, the recent price action has formed a double top pattern, suggesting a potential reversal to the downside. Based on the technical setup and potential reversal, I am biased towards a short position on USDJPY. I'm anticipating for continuation pattern for the move of price to the nearest support level at price 146.539 If you found this helpful please support your fellow trader with a like.
Short
by Yemi_Fx1
Btc confirm analysis read the caption Btc The technical picture now is more bearish as the decline from the 20-month high reached two weeks ago has continued, with the price trading above the big round number at $40,000 and breaking above some resistance levels which have now likely flipped to become resistance. Despite this bearishness, over the past couple of days the price has firmed up and established a couple of higher lows and support levels. However, the price chart below shows that the price is well within a bearish price channel, although the lack of symmetry in the channel suggests that it may not be very reliable. Nevertheless, there is a confluence of the upper trend line of this channel with a zone of resistance stretching from $40,423 to $40,667. This looks likely to be a great place to enter a short trade if we get a bearish reversal rejecting that area.
BITSTAMP:BTCUSDLong
by Mrsam36
Eurusd expected move read the caption Eurusd relatively volatile after the latest flash manufacturing and services PMI numbers from the US and Europe. It initially jumped to a high of 1.08980 and then pulled back as traders wait for the upcoming ECB decision and US economic data. The latest numbers by S&P Global showed that European manufacturing sector continued to contract in January as companies complained about inflation and supply chain issues. In Europe, the manufacturing PMI rose to 46.5, better than the expected 44.7. Despite the improvement, it remained below 51, meaning that the contraction phase continued.
Long
by Mrsam36
Gbpusd confirm buy pattern read the caption Gbpusd pulled back slightly after the flash UK and US manufacturing and services PMI numbers. The pair retreated to a low of 1.2729, a few points below Wednesday's high of 1.2777. S&P Global published strong economic numbers from the United States and the UK, signaling that the two countries started the year well. In the UK, the manufacturing PMI rose from 46.3 in December to 47.2 in January, higher than the median estimate of 46.7. Similarly, the services PMI jumped from 53.5 to 53.7 in January while the composite PMI rose to 52.4. These numbers came a few days after the Office of National Statistics released higher inflation but weak retail sales data.
Long
by Mrsam36
Usoil follow the trendline read the caption It has been an unpleasant month for oil traders. Crude oil has risen $3 this month but it's been a rough road getting there with repeated whipsaws intraday and extreme choppiness in trading. Headlines about the Red Sea have been faded over and over again despite bullish implications and fears of an OPEC breakdown remain high. However when you back it out, the chart starts to look promising. A series of higher lows began on December 14 and oil is now trading at a five-week high. If $76.16 breaks, it will be an six-week high.
TVC:USOILLong
by Mrsam36
Gold struggle to selling read the caption Gold has bullish it's a good opportunity as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
OANDA:XAUUSDShort
by Mrsam36
Dow Jones ready to fly read the caption US stocks climbed broadly higher on Monday, etching in fresh all-time highs as last week’s late break into record prices carried over into the new trading week, with tech stocks leading the way higher and sending the Dow Jones Industrial Average (DJIA) over the $38,500.00 valuation for the first time ever. Dow Jones ready to bullish trend The Standard & Poor’s (S&P) 500 major equity index continues its march towards $5,000.00, ending Monday at $4,800.43 after hitting a new record high of $4,880.05 as investors continue to pile into stock bets.
BLACKBULL:US30Long
by Mrsam36
EURUSD follow the bearish trend read the caption EURUSD 1 hour On the 1 hour chart, we can see more closely the recent price action at the support zone and we can see that in the APAC session the price don't broke through the trendline, which might be a good omen for the sellers. In fact, if the price were to break further through the support, then the breakout would be confirmed, and the seller will likely pile in more aggressively to extend the rally into the 1.10 level. On the other hand, if the price were to erase the entire rally and break below the counter-trendline, then a fakeout would be confirmed and that’s generally a reversal pattern.
Long
by Mrsam36
USDCAD Potential Selling Opportunity According to my FundamentalSell Description: Pair: USDCAD SL: 20 - 30 pips TP: 80-100 pips We have identified a potential selling opportunity in pair. The price has shown signs of bearish momentum and is currently trading below key resistance levels. Our entry point for this trade is is Shown in Picture, with a stop loss (SL) set at . This provides a risk-reward ratio of approximately 1:3,4 ensuring a favorable risk management strategy. Our take profit (TP) target is set at mentioned Area on the chart, aiming for a potential gain of 80 to 100 pips. This level aligns with previous support and offers a high probability of price reversal or further downward movement.Please note that trading involves risks, and it is essential to manage your positions carefully. Always adjust your position size according to your risk tolerance and ensure you have a clear understanding of the market conditions before entering any trades.
Short
by Fx_tradertareen
How to avoid the loss of funds in the transaction?Regardless of experience, every trader needs a plan. The key factors that can help the transaction become safer, they are the necessary strategic minimum requirements to ensure stable income and avoid unpredictable losses. Why Do Traders Fail? Let's take a look at the top reasons why traders lose money: Trading is a complex process. Trading strategies require discipline and precision. Even with the best ideas, some traders can forget to act systematically. Traders can be reckless. They give up doing market analysis, don't bother with stop loss orders, and forget about the rules of risk management. These all lead to mistakes and bad deals. So how to avoid the loss of funds in the transaction? 1 Don't build positions with huge volume If you are unsure of market movements, focus on at most one or two trades in a session. In the case of a small order volume, it is more controllable to track and find out various opportunities. Please note that some factors, such as slippage (the difference between the expected price of the order and the actual execution price of the order), are unsolvable and cannot be considered in advance before the transaction is opened). 2Using Stop Loss and Take Profit To reduce the risk of losing your money, you can use a stop loss order. They protect you from losing more money than you can afford. As for take profit, the principle is similar -- it will automatically close the order when the price target is reached, thereby locking in the profit. Therefore, taking profit will help you get out of the market immediately when the market price is right, so as to maximize your profits. 3Use reasonable leverage By setting a wider and reasonable stop loss, smaller leverage will allow each trade to have more breathing room, thereby avoiding higher capital losses. High leverage will blow up your trading account faster when the market trend goes against your expectations, because a larger lot size will make you face higher losses. 4. Pay attention to important news The market can change its trend at any time due to news or even rumors. Staying informed is key. All traders need to follow up all kinds of news throughout the trading hours. Let's say you realize that a news release will affect the direction of your position, but you're not sure which direction it will be. In such cases, you should provide maximum protection for the position you open (set stop loss, take profit, and in extreme cases, close the position before the release of the expected news). 5 Don’t Trade During Low Liquidity Hours You need to be aware that illiquid trading instruments tend to have wider bid-ask spreads, higher volatility and, thus, higher risk for the trader. Therefore, trading in a cycle with little liquidity will face the possibility of high capital losses. 6 View multiple metrics It is best to make your long/short decision based on several technical indicators. Indicators and other tools in technical analysis need to corroborate each other. Combine two or three different types of indicators. Your trading strategy can also rely on candlestick and trend chart patterns, as well as the use of golden section tools. In this way, the system will provide you with signals with a high probability of success. If you use such a strategy, combined with a stop loss and the correct risk/reward ratio, then you can avoid losing money in your trades. 7 Control Your Emotions The most successful trading comes from confidence and calm. Your fear of losing money, or your desire to make money with your trading instruments in the precarious state of big news, can get in the way. Make sure you keep your emotions in check and use tools like stop loss and take profit orders to make objective trading decisions. If it helps you, please like and follow.
FOREXCOM:XAUUSDEducation
by Gina-lovestotrade