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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
Bitcoin is In accumulation Zone ? Wyckoff model BtcusdtIt reflects the whole idea of a potential accumulation zone of 42-30k, which was put forward as the main one on June 4. Very often I consider different models, both analysis and trading charts. I can say that according to this model, the levels of $ 30,000 and $ 32,000 act as a large reference support zone Secondly, if you notice on the daily timeframe, the price almost immediately returned back above the 32000 range. Starting from the 4-6-12 hour timeframe, the closing of trading was above the specified zone. This model implies that a big player averages the price in this range, although what to write here, you can see everything for yourself. Because at this moment it has already become obvious to many of these zones, let me remind you that the key resistance is the same; 38930 - 42190, and the support is; 28805 - 32180$. Making an overview of this situation, I can say that all this is interpreted as a flat with a wide range of price movement, which partially confirms my hypothesis about lateral accumulation in the range of 30000-42000 and begins to take the form of a Wyckoff model... But this is not accurate, IT IS ONLY A HYPOTHESIS!!!!!!!! And if we take this model into account and apply it on this segment , we can see that accumulation always implies an upward exit, and full confirmation of this will be if the price is pushed beyond the 42000 levels and left there to continue the price movement into the seller's block, where the goals will be 45000-48000. But this is only a probability, because there are still many other models that tell me about a different outcome. I will leave this model here to hear your opinion on this issue.
by CryptoJaegerB
5
CHFJPY Short... FinallyCHF has been gaining strength over the past day or so as i've been trading against it. If anyone can let me know why that is, then that would be appreciated, lol. Anyway, CJ has entered the zone where price last visited at the end of May, and this opportunity is the last one i'm going to take with this pair for this week. I'm looking to short with a SL of about 10-20 pips depending on my entry (will probably have a couple positions on). Trendline drawn from the daily/4H and we'll probably see CJ drop once that trend is broken. Until then, we may see price bounce up from it for a bit but my bias is long-term bearish. I'll be targeting up to 150 pips, updates to follow.
Short
by darbova
US30/DowJones Long (short-term)Trendline drawn from 4H TF. Lots of rejection to the downside as you can see in that zone. Will look for confirmation to enter with a small lotsize as i'll need to place the SL about 80 points below entry, below the trend line. Inflation report being released tomorrow 1.30pm GMT and if the results are bad (i.e. inflation is high/worse than expected), we'll likely see a drop on indices as investors drop out... hence why this set-up is a short-term one. Updates to follow.
ULong
by darbova
EURNZD - 07 – 11 June 21 Week Trade PlanEURNZD This is my 07 – 11 June 21 Week Trade Plan for EURNZD Previous Month : Bullish Previous Week : Bullish Daily : Bearish As anticipated last week, EURNZD played the range from 6650/7020 and with the daily solid close on 28 May it pushed it to the range high at 6980/7020 Res Zone with some Res formation on the way up at 6820/6860. As EURNZD still in range and no clear break out, i expect EURNZD to again test the range lows at 6700/6650. COT report showing that NZD shorts had increased their positions but still not convincing as it's only one week that showed that increase. Longs are still holding their positions. A confirmation that NZD shorts are into the market when i see 2 to 3 weeks consecutive increases in short positions . Seasonality showing that NZD will weaken till mid May and strength till end of May continuing into June to create new NZD highs which will lead EURNZD to create a new low. Technically, i'm looking for EURNZD to still range between 7020/6650, which makes me look for longs from range lows and shorts from range highs as long no break and support/resistance formation above Sup/Res zones marked. My plan for this week as EURNZD reached the top of the range, i'll look for resistance formation below the daily resistance formed and below the Res zone at 6980/7020 to short back to the range low at 6700/6650. My preferred longs will be above the Res zone 6980/7020 with support formation above on 4H. No major news this week for NZD and Monday is NZD Bank Holiday.
by Amr_Sadek
Illustrated strategy mixSpotted this on silver monthly yesterday, and illustrated how triple threat plays off structure breaks. But these same set ups are found down on most smaller time frames. especially with 5-15 min delorians. So when your delo, or purple zone trade smashes a TP, tripple threat will get you back in at the retest of your TP/structure break when your in a trending market. Applicable on all instruments. Of course: Fundamentals drive the direction of a market and risk management discipline is the only way to grow an account long term.
FOREXCOM:XAGUSDEducation
by spirochill
1
BTCUSDTThree Determinant Limits for Bitcoin The first and defining area was the green area that prevented further bitcoin from falling, which included the support zone and the channel floor area. The second limit is the price range of 63,000, and if Bitcoin can break this range and stabilize above it, we can expect that Bitcoin will maintain its upward trend for at least half a year. But if it fails to break this resistance zone, the doublet trend will decline and it will at least reach the bottom of the canal again. The third determinant range in this range is the risk of investing in bitcoin, so if the downward trend of bitcoin is expected to fall sharply, first to the price range of 49,000 and then continue to fall to the price range of 41,000 and finally the price range of 30,000 Touch.
BITFINEX:BTCUSD
by Technoarz
10