Get started

Tradinganalysis

21062023 - #GBPUSDGBP is weaker than EUR and yesterday we see that price was hovering just at PZ and not able to go higher before the move down and eventually a recovery. EURGBP IMO is looking good for further upside. But anyway for GBPUSD, price action does point to further downside; with price capped by PZ now, looking for another revisit of yesterday's low at 1.2720 and even 1.2646. We have UK CPI data later so be careful. If my view on EURGBP is correct, then yes, the news could be a trigger for the move down (GBP to weaken).
by FadeMeIfYouCan
15062023 - #EURUSDUnlike GBPUSD, EURUSD made a dip to the weekly BZ before the rally yesterday, almost as per the path given yesterday () and right to the target before, as per GBPUSD, FOMC made DXY recover. And now, it is making another down move with price at BZ now, though it is below BZ for GBPUSD. I said to watch DXY 103.20 for a rejection. And if EURUSD can reclaim BZ, look for a move higher. From the looks of it, should be moving lower first, with 1.0806 as first support and 1.0732 below.
by FadeMeIfYouCan
14062023 - #USDJPYAm bullish USDJPY and also bearish DXY, thus long EURJPY GBPJPY AUDJPY are good trades IMO and they had paid well thus far. I said yesterday to look for longs at BZ/PZ but on news it dipped to weekly almost perfectly before the strong rally to my yellow line PHOD. Now it is coming down on DXY weakness. It could be some cooling off with the big rally. Levels to watch would be 139.65, 139.30 and 139.10 for the bounce for a move higher. 142 still remain the near term target.
by FadeMeIfYouCan
08062023 - #GBPUSDI was wrong with the direction yesterday, I said we would break down but instead it went up, while closing near the mid point. Price now supported by PZ; from current looks, it seemed to be supported and 1.2470 or so will be a magnet. Price action wise, market made higher lows and highs yesterday but direction is not so clear though bias is slightly to upside. IMO, DXY is strong but I expect some weakening (GBPUSD to up first) but DXY to rally later. Thus I plotted the possible path as a move to 1.2472 or so then a pullback to the BZ again. On downside, supports are at 1.2390, 1.2370 and 1.2340. Possible trades: short 1.2476 stops at 1.2490 tight stop (hard stop at 1.2510) target 1.2410, or if 1.2436 breaks, short to target 1.2370, 1.2340, stops at 1.2460, R:R 2-4. TBH, will prefer first scenario.
by FadeMeIfYouCan
BluetonaFX - GBPUSD HEAD & SHOULDERS IDEAHi Traders! We have a Head & Shoulders trade setup here on GBPUSD 1D chart. The market looks to be approaching the neckline and we are now looking for a break and close to the neckline with momentum to target lower levels. If we get a break and close of the neckline, we have the profit target level at 1.21761 and if you want to hold on for a larger risk reward trade, our second target level is at 1.20156. The ideal entry point is to either wait for a break and close to the neckline or to wait for a break with a retest of the neckline. On the other side of the trade, if we fail to break and close below the trendline, we will most likely stay in the range as there is a current lack of bullish momentum. We will keep a close eye on this and will update you if we get any further action on this setup. Please make sure you give us a like, follow and comment. Thank you for your support. BluetonaFX
by BluetonaFX
2
06062023 - #AUDJPY $AUDJPYMarket came down very slight yesterday, and was supported at PZ, forming a tweezer type of candle. Similar move this morning with the down move to test yesterday's low but now market 20 pips higher. USDJPY is weaker but overall, yesterday's price action is not a clear reversal candle. Possible move for today, IMO (with important AUD news later); the thesis would be if yesterday's candle is an intermediate high. Price is now between PZ and BZ. If you ask me, could get a move lower to 91.76 which would be a good location to look for longs. For now, price below PZ, is a short for a move to 92 and 91.76.
by FadeMeIfYouCan
01062023 - #GBPUSDI was bearish dollar yesterday and said to look for longs at around 1.2381. DXY still ended the day green (due to EUR weakness) but GBP is strong and despite the deep dip, closed green. But that candle stick could be a hanging man (reversal candle)? The body of yesterday's candle is rather wide so it remain to be seen if that could be the top. Today's candle is now red. Bias can be considered bullish given that price is above the zones. But I would expect a possible deeper dip again before price could go higher. Will be looking for price to trade within the zone, before further up, with 1.2395 as the PLOD. Short 1.2507 is it trades for at least a 30 pips move. In terms of the monthly candle which just closed yesterday, one important thing to note is we have a red monthly candle. Not that bearish looking and it is supported by the BZ. But if price trades above May's low, it could well break the support zones and it would be further downside. What we would like to see now is price to trade into 1.25-1.254 on a possible rejection; which would trigger a sell for a move much lower.
by FadeMeIfYouCan
1
31052023 - #GBPUSDGBPUSD gave an initial sell to take out Monday's low before rallying higher. DXY hit a resistance above on the initial sell but came down to 104 (and lower) - the level I mentioned before basing. In a way, I was too aggressive on my 1.2395 level; (though DXY was at 104). Market went past it, to above resistance before coming down and bounced off at this 1.2395 level ( where the daily and weekly BZ meets). Could see some further upside, but would like to see price pullback to 1.2383 or so, fake breakdown before price stabilize and look for up. In a way, I was too aggressive because the green candles of the previous days does point to bigger upside before any sell could come. For today, I would say that we can see that price is within the zones, held by weekly BZ now, while PZ and daily BZ are below as support.
by FadeMeIfYouCan
29052023 - #GBPUSDGBPUSD was supported by monthly BZ, then went higher on Friday to my PHOD before coming down and closed near the mid. DXY strengthened while indices rallied though it cooled off towards the end. I am still longer term bullish dollar but today might see a pullback near term. Can be cautiously bullish above BZ 1.2353 for a move to 1.2373 and max 1.2391. If price trades below PZ, look for a re-test of 1.2300 but that should hold. Fading the two extremes should work for today.
by FadeMeIfYouCan
25052023 - $NDXNDX made a huge recovery after the initial sell off, hitting the weekly BZ and rebounded; I would say the initial up was technical, price is oversold at BB extremes but the subsequent rally was due to NDVA. Price is now supported by the BZ and PZ at the same prices thus a double support. TBH, I thought the rally was rubbish but price action is looking bullish now. I did say that I am not convinced of the rally; thus it would either be a case of NDX strength supporting the other indices, or NDX to falter and bringing SPX down with it. The location of such a bullish candle is uncommon to say the least, but I would say that to SPX/DJIA would be better candidates to go short from, while using NDX as reference.
OANDA:NAS100USD
by FadeMeIfYouCan
25052023 - #USDJPYOn Tuesday, market formed a doji and I said yesterday that expect a move down to re-test the lows (20 pips) and I was bullish DXY but indicate we might see risk off. Market hit the lows, did a fake out, then rallied higher. The BZ gave the lows and DXY did go higher and indices was risk off but still USDJPY went up. Today, we are approaching 139.89. It is a strong resistance. Am looking for some pullback/reversal from there. Overall, am still bullish dollar, though yes it had made a huge up move the past few days and could consolidate first. And I am still risk off (despite NDX rally, it looks fake to me). Taking into account the 2 points, IMO 139.89-140.31 is still levels to not hold longs but look for shorts. Just a point, note how nicely price made a fake dip down earlier on to the BZ before the move higher.
by FadeMeIfYouCan