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V-pattern

EURJPY Bearish Price Action, Watch For Sell Here on EURJPY mid time frame, we can see the price has clearly impulse out of the MTF corrective structure. With a strong bearish impulse phase, we know price will need to correct in order to continue lower. In the last 2 days price has slowly been consolidating in the latest development, good sign for further downside if correction completes. Wait for lower time frame bearish price action to confirm more downside potential.
Short
by jojofang0901
6
GBP - Weekly/Daily close will be key! GBP - Weekly/Daily close will be key! GBPUSD - At a very key resistance, we have NFP today that will shift the market. We did have GDP m/m Bullish 0.3 Higher than expected. I think when it comes to GBP there are very bearish views when it comes to there fundamentals and there rate hikes but I don't think the situation as bad as it's considered. What does this mean and how can we trade this opportunity? Well, we can first wait for daily close and see how we close and perhaps wait for pull back and get in long taking us back towards key resistance areas of 1.21 half areas and target areas 1.23. However, if we are fail to close above we are back within the range until further clarification. Don't forget to check minor pairs such as EURGBP & GBPAUD as commodity FX is lagging there are plenty of trading opportunities, including GB10Y W set up. Now we do have NFP, if that beats expectation we could get pull back in GBP. However, if it comes out lower than expected NFP I expect dxy to decline and majors to rise. And see how price reacts if it beats expectations and by how much and vice versa - that's what is very key! Now regarding GBP technical view: High: 1.21560 Low: 1.18420 Pattern: Wedge/Channel A break above the highs and 200/50 EMA I expect further bullish momentum and target area of 1.23 areas. If we are to break below of 1.18 handle then 1.15 is still on the table. However, at this current moment of time we are within the ranges and we have to respect that, in addition you could even go to lower time frame of 4hr and get better price! Trade safe and have a great weekend! Trade Journal
by Trade_Journal
GBPUSD Reaches Critical ResistanceThe GBPUSD has broken down from a bearish price pattern, touching the monthly trendline at 1.1800 before rebounding to retest the previous breakdown level at 1.19254. We anticipate a potential reversal from this level back to the downside, although there is also a possibility for the price to continue rising towards 1.19984 before reversing lower. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
USDJPY BEAR SWINGHere we see USDJPY in its final push upwards. As we can see by the chart 138.00 is a very significant level for TWO reasons 1. It is a major FIBO level that is retesting the overall DOWNTREND that we are on from a WEEKLY perspective, this has been a necessary retracement to the massive downward trend that we had begun late last year. 2. It is the 1.6 FIBO EXTENSION of our current Daily/H4 uptrend and at this level usually overbought/sold conditions exist Using this framework we can create a nice entry for our resulting swing downwards. This trade highly depends on the NFP data next week to come in not as HOT as last month
Short
by NakedTrading4U
1
M&M*Everything is mentioned on the chart. I hope it is easy to understand. *Don't jump in to trade at the beginning of the market. let it get settle for 5 min 15MIN first and judge price action. *Avoid gap up or gap down chase. Wait and trade between level. Note: Trade with strict stoploss. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action work near that level. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! #stockmarket #stocks #investing #trading #investment #money #finance #forex #invest #nifty #investor #business #sharemarket #financialfreedom #bitcoin #trader #cryptocurrency #entrepreneur #sensex #daytrader #stock #wallstreet #wealth #nse #forextrader #bse #stockmarketindia #daytrading #stockmarketnews #forextrading
NSE:M_M
by waghmarerushi
We now wait for NFP!We now wait for the NFP! Here we have the silver chart in-front of us! We are currently within the range of lows: 19.800 highs: 20.450, Pattern: Triangle/ Bear flag If we are to go above key resistance area and above 50EMA + TL resistance I expect first target to be 20.750 areas and then 200 EMA areas which is around next resistance zone of 21.400. However, we are to decline with a strong NFP, I expect 19.500/400 to be your target areas. Regarding NFP checking the other data as well, see the differential of it and is it at a vast numeric change. Trade Journal
FX:XAGUSD
by Trade_Journal
USDCAD - LT/MT Idea!CAD - LT/MT Idea! We have a lot of dollar buying end of flows, end of month. We saw that in most of the majors shifting. What's really key to me is we are seeing US data take a hit US indices, it is time to take into consideration what could happen next with the FX majors. Here's a glimpse of what I think of CAD: This chart is based purely on Technical aspect. Currently we within the ranges - Highs: 1.37355 & Lows: 1.32485 A break of highs, we could be forming the pattern W / Break out of wedge/triangle formation Target areas: 1.38885 & 1.41290 A break of the lows, we break below 50EMA + break out of pattern takes us to 200 EMA + TL Target areas: 1.30270 & 1.27955 Take into consideration of other FX minor pairs such as CADCHF - Stuck within range, ready to break! There are great opportunities out there for us traders to take advantage, of. Trade Journal
by Trade_Journal
GBPUSD is forming a double topDuring a congressional hearing on Tuesday, Federal Reserve Chairman Jerome Powell announced that the central bank is expecting to raise interest rates multiple times in the coming months. Powell also stated that the Fed would be ready to speed up its monetary policy tightening if necessary. This announcement is consistent with previous hints from other Fed officials and was made to communicate the Fed's plan to raise interest rates by 50 basis points next time. However, if the Fed does raise interest rates by 50 basis points, it may indicate that the previous increase of 25 basis points was insufficient. Accelerating the pace of rate hikes may also raise concerns about the Fed's policy decisions. It is uncertain whether the Fed will raise rates by 75 basis points next time, which could cause turbulence in the financial system. In addition, the US government has stopped issuing bonds due to the debt ceiling, but when bond issuance resumes, there are two potential outcomes. One possibility is that an increase in supply will cause bond interest rates to rise. The other possibility is that demand will remain strong, minimizing the impact. If interest rates rise due to increased supply, it could put upward pressure on the dollar. As the dollar strengthens, the pound is weakening and is currently testing its neckline. If the pound breaks below this neckline, it could lead to a double top test of 1.12-1.14.
Short
by bruceyam