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GBPJPY 23-27 August Weekly outlook and Trade PlanGBPJPY 1- Monthly looking heavily bearish and the close of this monthly candle will be very important for the bullish structure as if we closed below 151 this will be a confirmation for break of structure. 2- Weekly solid bearish close 2 support levels 151.50 and 149.70 confirming bearish momentum continuation. Currently GBPJPY is at the weekly range low since March 21 which is a critical zone that price always bounce from. A close below that range will confirm that the bullish trend is over and we could be preparing for a deeper correction to the down side, also that close will lead the monthly candle to confirm break of bullish structure. On the other side, a support formation above the weekly low will be a counter trend trade opportunity for longs on anticipation that the previous rejections from the weekly low are still in play for a move to the up side that is limited to 151/151.50 for the current bearish momentum continuation. 3- Daily structure continuing the bearish momentum that was built up during every bounce from a new low created. A resistance formation below the weekly range low will be required for shorts targeting 147.40. A higher support formation above 149.65 will be required for any pullback to 151/151.50. Currently I’m looking for the following opportunities: 1- Possible longs on support formation above Weekly lows targeting 151/151.50 2- Possible shorts on resistance formation below weekly lows targeting 148.30/147.40 News: This week we have important news for GBP only on Monday by 9:30 and JPY on Wednesday and Friday. Map your news time in your daily plans. Weekly Chart: Daily Chart:
by Amr_Sadek
GBPJPY - 16-20 August 2021 Outlook and Trade PlanGBPJPY 16-20 August 2021 Outlook and Trade Plan Monthly structure still holding bullish with previous 2 months bearish close respecting 152.00 key level. A close below 152 will encourage more shorts to test the lows at 149. Weekly continuing the bullish momentum after 23 July solid close. Previous week bearish close formed a solid resistance and barely closing below 152 which indicate shorts pressure. 151.60/50 is the last support on weekly to hold as support for the bullish structure continuation. Below that we will confirm that a LH is formed and a continuation of the bearish momentum continuation after creating the YH at 156. 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. Last week close confirms the rejection and a continuation to the down side to test 151.60/50 is due. A close below that will confirm daily bearish momentum continuation. On the other side A close above 153.70 will give the opportunity to test the highs at 154.43 and 154.85. As a trade plan for next week, i'm looking to the following: Longs : On higher support formation and a close above 152.60/80 targeting the current highs and maybe continuation to 153.41 Shorts : option 1 will be on resistance formation below 152 targeting created targets and 151.60 4H Support. While option 2 is safe shorts below 151.60 targeting 151/150.90 News : A busy week for JPY and GBP with news everyday except Thursday, so please map news times as per your trading session. Daily Chart 4H Chart GBPJPY
by Amr_Sadek
2
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