Short is comeingHi traders
This worked out very well
and we r in PRZ (potential Reverse Zone)
TP's are in
but watch for sell signal like double top with slow rsi on the 2nd top and so on
like in 9 june high
Drive Safe
US
USD CNH | 1W | Technical AnalysisHelicopter view of USDCNH currency pair, and some ideas on how to act upon the recent price movements.
EURUSD: Price Action & Scenario for Next Week
EURUSD is trading within a rising parallel channel on 4H.
the resistance of the channel was reached on Wednesday and the market set it's last higher high there.
during the next two days the pair started to consolidate:
with a sequence of three equal highs and two equal lows, the price is stuck in a narrow horizontal trading range.
next week, with a high probability the price will retrace one more time from the horizontal resistance.
then sellers will face with a buying pressure from a channel's and range's supports.
consider this range for potential quick trades next week.
to catch the next wave, I would suggest waiting for a violation of the range.
we can not estimate how long the market will trade there, so it would be better to just wait.
have a great weekend!!!
DOLLAR INDEX (DXY) Update & Important Decision Ahead!!!
DXY is retesting summer's structure low.
the price is currently consolidating within a narrow horizontal decision range.
because the current trend is bearish, I am bearish biased on greenback.
in case of a violation of the range to the downside, bearish rally will most likely continue.
next goals will be:
95.4 - daily resistance
94.8 - year's low
in case of a bullish violation of the range, USD may start recovering.
96.9 will be the first goal.
for now it is hard to predict with high accuracy the next usd move, so let the market decide first and then just act accordingly.
EURUSD: Year's High AHEAD!!! Key Levels & Scenarios
EURUSD is approaching a key daily structure resistance.
1.15 is year's high, short rally from that level was just crazy in march.
we don't know how the market will react this time, so we must be prepared for both scenarios:
in case of a bullish violation of the underlined resistance (daily higher high higher close)
the pair will most likely keep growing.
next midterm resistances will be:
1.155
1.160
if the structure will be respected (some reversal formation on lower timeframes)
the market may retrace.
closest midterm supports will be:
1.137
1.130
of course, bias right now is bullish, but it is too late to jump in.
let's patiently wait and see whats gonna happen.
NZDUSD: Channel Breakout & Bearish Continuation
hey guys,
NZDUSD has broken below a rising parallel channel.
setting a lower high, the price broke below a minor horizontal support as well.
now I am planning to short the market on retest.
sell zone will be between a broken support of the channel and minor horizontal support.
target levels:
0.6509
0.6485
EURUSD REVERSAL??!?This is not one of my favorite patterns but it's there for your viewing. It makes sense and coincides with my call of last week's GBPUSD sell off.
Let me know what you think.
USDCAD: Price Action & Trading Plan
USDCAD is forming an inverted expanding triangle on 4H.
the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test.
yesterday the above-mentioned structure was reached again.
the price has formed a bearish engulfing candle and was rejected.
on 1H the price has formed a double top formation with a lower high,
respecting a 1.3575 minor horizontal support.
to trade with confirmation, I would wait for a bearish violation of a minor horizontal support (1H candle close below),
then I would sell on a retest.
target levels:
1.354
1.351
safest stop will be above 1.361 or a new lower high in case of its formation.
good luck
USDCAD: Price Action & Trading Plan
USDCAD is forming an inverted expanding triangle on 4H.
the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test.
yesterday the above-mentioned structure was reached again.
the price has formed a bearish engulfing candle and was rejected.
on 1H the price has formed a double top formation with a lower high,
respecting a 1.3575 minor horizontal support.
to trade with confirmation, I would wait for a bearish violation of a minor horizontal support (1H candle close below),
then I would sell on a retest.
target levels:
1.354
1.351
safest stop will be above 1.361 or a new lower high in case of its formation.
good luck
EURUSD: Warning Signs & Price Action & Harmonics
My view and thoughts on EURUSD.
4H/daily time frame analysis.
GBPUSD: Key Level, Reversal Signs & Candles
hey guys,
GBPUSD reached a key daily structure yesterday.
the price has formed a perfect dodji candle on that and on 4H we see a strong bearish reaction with a bearish engulfing candle.
the last resort for buyers is the support of the rising wedge pattern on 4H.
in case of its bearish violation, the price may drop even lower.
our trigger is 4H candle close below the wedge.
target levels:
1.252
1.246
if the above-mentioned support is respected and the market sets new higher high higher close within the wedge,
setups will be invalid.
USDCAD: Wedge Breakout & Bearish Continuation
USDCAD broke below a rising wedge pattern on 1H after it reached a strong 4H structure resistance.
the price has formed a triple top formation on that level and broke minor structure support as well.
now we can expect a bearish movement to lower levels:
1.3567
1.3529
