GBPUSD: Road to 1.34 🇬🇧🇺🇸
GBPUSD continues trading in a strong bullish trend.
This morning, I see one more strong bullish confirmation.
The price violated a resistance line of a horizontal range on a 4H time frame
and we see a positive bullish reaction after its test.
Now the pair is heading towards 1.34
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USD
Reading The Tape on USDJPY (ICT) - 24th Sept 2024 In this video I practice reading the tape using ICT Concepts, as well as offering general advice to those using his concepts or otherwise.
I hope that you find this video insightful. If you have any questions, leave a comment and I will be glad to answer.
- R2F
Buy USDJPY Bullish ChannelThe USD/JPY pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Descending Triangle pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 143.77, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 145.38
2nd Support – 146.08
Stop-Loss: To manage risk, place a stop-loss order below 143.00. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
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Thank you.
Bearish drop?NZD/USD is rising towards the resistance level which is a pullback resistance that aligns with the 127.2% Fibonacci extension and could reverse from this level to our take profit.
Entry: 0.6293
Why we like it:
There is a pullback resistance level that lines up with the 127.2% Fibonacci extension.
Stop loss: 0.6346
Why we like it:
There is a resistance level at the 161.8% Fibonacci extension.
Take profit: 0.6212
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement.
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Could the Cable reverse from here?The price is rising towards the 161.8% Fibonacci extension and the 61.8% Fibonacci projection and could reverse from this level to our take profit.
Entry: 1.3381
Why we like it:
There is a resistance level at the 161.8% Fibonacci extension and the 61.8% Fibonacci projection.
Stop loss: 1.3469
Why we like it:
There is a resistance level at the 78.6% Fibonacci projection.
Take profit: 1.3261
Why we like it:
there is an overlap support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Falling towards 38.2% Fibonacci support?USD/JPY is falling towards the support level which is an overlap support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 142.40
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 141.04
Why we like it:
There is an overlap support level.
Take profit: 144.46
Why we like it:
There is a pullback resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop?EUR/USD has reacted off the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.1137
Why we like it:
There is an overlap resistance that lines up with the 50% Fibonacci retracement.
Stop loss: 1.1200
Why we like it:
There is a pullback resistance level.
Take profit: 1.1047
Why we like it:
There is a pullback support level that lines up with the 78.6% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Could the kiwi reverse from here?The price is rising towards the pivot point which has been identified as a pullback resistance and could drop to the 50% Fibonacci support.
Pivot: 0.6293
1st Support: 0.61901
1st Resistance: 0.6350
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?Ethereum (ETH/USD) is reacting off the pivot and could drop to the overlap support.
Pivot: 2,672.26
1st Support: 2,535.71
1st Resistance: 2,791.13
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURUSD: Neutral ready to breakout either way.EURUSD remains marginally neutral on its 1D technical outlook (RSI = 55.284, MACD = 0.003, ADX = 28.089) as it remains supported on the 4H MA50. At the same time it is bearish below the R1 level, which forms so far a Double Top. If the price crosses above it, we will turn bullish aiming at the 1.5 Fibonacci extension (TP = 1.13000). If the price crosses under the 4H MA200, we will turn bearish aiming at the S1 level (TP = 1.10000).
The 1D RSI is crossing under its MA trendline, which suggests that a bearish move is more likely, similar to every time this took place since June.
See how our prior idea has worked out:
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Gold 1HR Intra-Day Chart 23.09.2024As you can see on the 4H TF Gold has smashed our $2,630 target as I said would happen! I'm now currently looking to short the market. When price reaches Wave IV, I'm looking at 2 possibilities;
1. Price slows down & buyers come in again, ready to push Gold towards 1 more new ATH.
2. Sellers smash through Wave IV target & carry on dropping down long term.
GOLD BULLISH TO $2,604 - $2,630 (1H UPDATE)As you can see on the 4H TF Gold has smashed our $2,630 target as I said would happen! I'm now currently looking to short the market. When price reaches Wave IV, I'm looking at 2 possibilities;
1. Price slows down & buyers come in again, ready to push Gold towards 1 more new ATH.
2. Sellers smash through Wave IV target & carry on dropping down long term.
GOLD BULLISH TO $2,604 - $2,630 (1H UPDATE)GOLD BULLISH TO $2,604 - $2,630 (1H UPDATE)
Like I said earlier today I'm expecting a 5 Sub-Wave move towards our overall Wave 5 bullish target. So far we've completed Wave I & Wave II.
We’re waiting on the following according to my EW strategy👇🏻
1. 2 Impulse moves up (Wave III & Wave V).
2. 1 corrective move down (Wave IV).
EURUSD Sell opportunity on a Double Top.The EURUSD pair made a Double Top last week near the 1.12000 Resistance following the Fed Rate Decision (-0.50% cut) and technically this is the first sign of a potential medium-term sell opportunity.
If we examine the price action on the 1D time-frame going back 2 years (November 2020), we can see a recurring pattern. When the 1D RSI breaks above the 70.00 overbought barrier and posts a Lower Highs trend-line, a sell signal emerges, which is valid until the RSI approaches the 30.00 oversold level.
This sell signal has so far emerged 2 times (February 02 2023 and December 28 2023) and both times the pull-back that followed hit the 0.618 Fibonacci retracement level, below both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The first correction registered a -4.70% decline while the second a -4.00%.
If this is a progressive pattern, then a potential new correction on the current RSI Lower Highs (Double Top for price) should be -3.30% (0.70 less than the previous), which as you can see on the chart falls exactly on the 0.618 Fibonacci retracement level.
As a result, this isn't just a strong sell signal but also gives us a very reliable Target at 1.08350.
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