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GBPJPY 9-13 August Trade PlanGBPJPY GBPJPY 9-13 August Trade plan Monthly structure still holding bullish structure with previous 2 months bearish close respecting 152.00 key level. Weekly continuing the bullish momentum after 23 July solid close. Still we are trading below 153.66 28 June resistance formed due to 17 May support at 154 key level. Weekly is showing potential for more ups side to retest the 153.66. A close above will indicate a new HH is formed and possible continuation to Yearly High at 155.70. Daily structure still bearish with LH/LL formation, trading below 1 July resistance formed at 153.56 due to the support formed on 14 May at 153.70. August 3 formed the first HL since 1 July at 151.67 bouncing from the daily zone at 151 key level. A close above 153.70 will give the opportunity to test the highs at 154.43 and 154.85. On the other side a close below 151.67 current daily support and resistance formation will confirm that bearish momentum still in play and testing the lows at 149.50 will be in play. 4H Structure is bullish with HH/HL formation. but currently at a very tough 4H range support at 153.42. A close above will give the opportunity to push to retest 153.70/80. Failing to hold above 152.57 and a resistance formation will possibly push to 152. A close below 152 will be a trigger for me to Short targeting 151.60/151.20 News: mainly important ones are on Tuesday and Thursday.
by Amr_Sadek
GBPJPY 9-13 August Daily OutlookGBPJPY GBPJPY 9-13 August Outlook Monthly structure still holding bullish structure with previous 2 months bearish close respecting 152.00 key level. Weekly continuing the bullish momentum after 23 July solid close. Still we are trading below 153.66 28 June resistance formed due to 17 May support at 154 key level. Weekly is showing potential for more ups side to retest the 153.66. A close above will indicate a new HH is formed and possible continuation to Yearly High at 155.70. Daily structure still bearish with LH/LL formation, trading below 1 July resistance formed at 153.56 due to the support formed on 14 May at 153.70. August 3 formed the first HL since 1 July at 151.67 bouncing from the daily zone at 151 key level. A close above 153.70 will give the opportunity to test the highs at 154.43 and 154.85. On the other side a close below 151.67 current daily support and resistance formation will confirm that bearish momentum still in play and testing the lows at 149.50 will be in play.
by Amr_Sadek
BTCUSDT 1 August Time frame: 1DHi traders and welcome to my channel ... Btcusdt is still in a range in the daily chart but as you can see price touch the static resistance at 42426.50 if break this area … we expect price hit tp1:46930 and tp2:48780 but if price can't break this area ... I think create W pattern and it’s going to pull back to the neckline at 36595 then up to next level of resistance area at 46930 and 48780 for long position For short position if price breaks 29278 TP1:26904 TP2:22246 *Support this Idea with a like or Comments if you find it useful* Good luck guys and be careful Thank you
by saeedmp
6
GBPJPY 2 - 6 August Outlook 1- Monthly structure still bullish even with the resistance formation at 155.63 as long we hold closes above 151 we will challenge the highs again. Anticipating August candle to wick down forming a support on Daily and 4H for testing the highs at 153.40 and above. 2- Weekly structure is bearish and a close above 153.65 will give the opportunity to continue the monthly bullish structure. 3- Daily structure still bearish with LH/LL formation, holding support above 152 will give the opportunity to challenge 153/153.65 for bullish continuation. A close back below 152, will invalidate the bullish move and a possible retest to the lows created at 149.50. 4- 4H structure solid bullish with HH/HL formation. I've 2 Scenarios as following: Scenario 1: Bullish Holding support above 152 will give the opportunity to retest the 153/153.65 and with a close above will indicate that we had formed HL on daily which will target the 154/154.50. Scenario 2: Bearish A close below 152 will be the first sign of rejection, a lower resistance formation below will confirm the daily bearish structure continuation and the lows created at 149.50 will be in play as targets. Also note that we have important news almost everyday for JPY and GBP, so please map the news and set alerts. Good luck all, wishing everyone a good trading week.
by Amr_Sadek
SILVER - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow. SILVER is approaching strong daily support in green so we will be looking for buy setups. Before we buy , we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? on H4: SILVER is forming a channel in red but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, SILVER would be overall bearish can still dive inside the green support before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
FOREXCOM:XAGUSD
by TheSignalyst
30
What do you know about Rising Wedges?Gold has broken the $1800 level and is now trading just above it. This rising wedge occurred after a preceding downtrend which is going to act as a continuation of the preceding downtrend. I would boldly state that the recent gains XAUUSD has been experiencing is a pullback to resume/continue the original downtrend. If the high impact USD news (JOLTS JOB OPENINGS) being released is positive better than expected/positive, then my idea will be proved valid but until then, open sell limits with good risk & money management. If you like this idea, leave a like, share your thoughts in the comment section and most of all, hording knowledge is bad, so share this idea with your fellow traders !.
FX_IDC:XAUUSDShort
by LaBOSS_FX
1
GBPJPY 5- 9 July Weekly Outlook and Trade Plan - Daily ChartGBPJPY Previous Month : Bearish Previous Week : Bearish Previous Day: Bullish Weekly : Still reacting to the formed Year High reached and the Weekly resistance formed on Jan 2018 but holding bullish weekly structure with June 21 Support formed. Daily : Structure is solid bullish respecting every zone created during the bullish run since March 2020. currently we are holding support above daily zone low at 151.24 where price formed a solid support trying to push again to the 155 year high, but failed to hold above the broken support at 154.60 forming a lower high. On a daily short term view we are looking bearish with LL/LH formation. If we managed to close below 152.70 a retest to the lows at 151.50 is expected with more potential to extend the move down further. A close above 154.00 will give the opportunity to test the broken support at 154.80 and 155 level. Holding support at these levels will indicate that retracement from the Year High is finished and we can expect a new year high to form after reaching 156. 4H : Structure still showing LH/LL formation which is keeping GBPJPY to the down side. With the completion of a TOL/Retest of the broken daily support at 154.20 and a resistance formation below will open for more down side. No Major news for GBP and JPY during this week, but we have the G20 meeting on Thu and Fri, so would expect markets to have some reactions with any news coming out from there. COT report showing GBP Longs are decreasing during the past 12 weeks while JPY Shorts are still strong. That will keep GBP/JPY to the upside.
by Amr_Sadek
GBPJPY 5- 9 July Weekly Outlook and Trade Plan - 4H ChartGBPJPY Previous Month : Bearish Previous Week : Bearish Previous Day: Bullish Weekly : Still reacting to the formed Year High reached and the Weekly resistance formed on Jan 2018 but holding bullish weekly structure with June 21 Support formed. Daily : Structure is solid bullish respecting every zone created during the bullish run since March 2020. currently we are holding support above daily zone low at 151.24 where price formed a solid support trying to push again to the 155 year high, but failed to hold above the broken support at 154.60 forming a lower high. On a daily short term view we are looking bearish with LL/LH formation. If we managed to close below 152.70 a retest to the lows at 151.50 is expected with more potential to extend the move down further. A close above 154.00 will give the opportunity to test the broken support at 154.80 and 155 level. Holding support at these levels will indicate that retracement from the Year High is finished and we can expect a new year high to form after reaching 156. 4H : Structure still showing LH/LL formation which is keeping GBPJPY to the down side. With the completion of a TOL/Retest of the broken daily support at 154.20 and a resistance formation below will open for more down side. No Major news for GBP and JPY during this week, but we have the G20 meeting on Thu and Fri, so would expect markets to have some reactions with any news coming out from there. COT report showing GBP Longs are decreasing during the past 12 weeks while JPY Shorts are still strong. That will keep GBP/JPY to the upside.
by Amr_Sadek