Zonetrading
EURAUD, daily tf, buy upside ABC correctionHello my friends,
Another trade i took today is EURAUD pairs.
As you can see, i've marked the elliott wave movement and in my opinion we're now done with all five waves.
Wave-5 usually end at the 127% fibonacci retracement of Wave-4.
We can expect an ABC correction to the upside from this point.
Notice that price actually broken above the descending trendline but only retested it down below at 1.6070.
It looks like there is also horizontal support here as well.
In conclusion it is an area of confluences.
I already take a buy position from 1.6070 and still holding it.
Buy EURAUD 1.6070
Stop loss 1.6000
Take profit 1.6210 (2R)
RR Ratio 1 : 2
Use only 1-2% risk
Good luck
EURCHF H4 - Long SetupEURCHF H4 - Another fresh low set and we are fast approaching support, this next bearish wave could be the start of the reversal as we enter 1.07200 support region.
EURGBP Multi-timeframe analysis Daily - Since 24th of November market rejected the 0.88610 zone and moving from HL to forming a possible HH.
Our target is to catch a buy in this move.
4H-Break the downtrend structure and now we are at the 0.89958 key zone with market forming a second HL. We already have a bullish engulfing as a confirmation and with more bullish elements we could get our Buy setup on Lower Time Frames (LTF).
Using 1H for confirmation and 30m for our entry, since both are on a downtrend forming a LH, will wait probably another 3 to 6 hours until market find a new HH and HL, otherwise the Scenario 2 (S2) will be our future setup.
Will keep you updated.
Please follow us for future analysis and ideas.
Sam
GBPUSD, 4hr tf, sell on confluence of resistanceHello my friends,
Today we are going to sell GBPUSD as i think price pretty much overbought and looks like bulls start to exhausted.
If we do an Elliott Wave count, we found that we are at the end of Wave-5 and pretty much we will see an ABC correction soon.
Price also moving inside this upwards channel respecting it for the last 4 weeks.
Finally it come to meet an area of confluence resistance at 1.3485 and was rejected from it twice already.
With this second rejection at this resistance then i am convinced we could try selling GBPUSD now.
Sell GBPUPSD 1.3475
Stop loss 1.3520
Take profit 1.3295 (4R)
RR ratio 1 : 4
Use only 1-2% risk
Good luck
EURJPY, daily tf, sell on strong resistanceHello my friends,
As you can see there is an inverted head and shoulders pattern in this pair.
Price broken above the neckline and continue to shoot up without retesting those neckline.
In my opinion, this impulsive movement will soon exhaust and get a correction because price just shoot above the neckline without retesting it.
After marking our horizontal level support and resistance, we could start trading between those zones.
Right now i think, price pretty much overbought and exhausted.
It is shown by previous daily candle which was rejected from 126.45-126.75 resistance area.
I think it is about time price retrace to retest those neckline at 125.00 area.
I am going to sell this pair in order to capitalize this retracement.
Sell EURJPY 126.45
Stop loss 126.85
Take profit 125.05 (3.5R)
RR ratio 1 : 3.5
Use only 1-2% risk
Good luck
EURUSD H4 11/30/2020Hello,
At this moment, the currency pair is in the critical zone of (1.1960 to 1.2013).
Last week, EURUSD broke the 1.1920 resistance and consolidated above it at daily time frame.
My opinion: it is highly possible that the price passes tha critical zone and rally up to 1.2500 area.
Alternative scenario: If price could not pass critical zone,so the trend would go down toward 1.1750, 1.1696, 1.1610 supports.
please comment you ideas for me
regards
EURJPY Price is retesting our Make or break zone! This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
XAUUSD Moving towards a decisive zoneGold broke a strong zone and a strong support line and now is getting close to the boarders of a new strong zone.
Zones with fibonacci retracement indicatorThe zonal trade is all about retest and support zones on a particular area of the chart.i used the retracement indicator so we could see the points of entry in the trade and the possible retracement points.
Zonal trade with support and resistanceThis analysis is the simplest and most accurate analysis i have used conservatively due to its simple method. The rectangles indicate the support and resistance zones of the chart
GBPJPY - possible buy'sWe can see a nice level of structure has been found recently here. If we can get a pull back in the asian market then we can look to take a buy position from here.
GBPCHF SHORTOn the daily chart, you can see the wick of the previous candle has touched my monthly level and a following extremely bearish daily candle suggests price will continue to fall from here. I believe it is in the process of retesting although I'm not sure where it will retest to so waiting for a short opportunity. I have plotted my fib levels on the daily timeframe. This could be the start of a downtrend but I wouldn't take the short until a strong bearish rejection off one of the fib levels. You can see a downtrend on the 4hr timeframe more clearly. If this goes in favour of a short, I'd expect it to at least reach 1.19315. I'm a beginner so please point out any tips or flaws in my thinking!
CADJPY LONGIf the 4hr candlestick closes above the zone, price might retest this area before reaching the next 4hrly zone as price is currently in an uptrend which you can see on the daily time frame. Based on the 4hr, price is also in the golden zone of my Fibonacci, a break below this level would require a change in ideas!. I'm a beginner so any tips or flaws in my thinking, please let me know!
GBPUSD, 4hr tf, sell on conlfuence of resistanceHello my friends,
I hoped you all are doing well with your trading.
I myself am having a bad week as some positions hit stop loss.
This week alone i got 4 positions hit stop loss and got 8% loss banked.
Each trade was using 2% risk so in total it was 8%.
Well thats not a problem because everybody will have a bad week or months in trading. Nothing to be a shamed of.
For today i am gonna trade lightly and i already got some positions in mind which looks very interesting.
First is GBPUSD pair.
As you can see, price still moving inside the ascending channel which could be a potential bearish flag in the future.
Price currently moving into an area of confluences which is the meeting point of ascending channel and horizontal weekly resitance.
In my opinion, we could see sellers step in to hold this area and a rotation to the lower side is likely to happen.
Sell GBPUSD 1.3265
Stop loss 1.3300
Take profit 1.3160 (3R)
RR ratio 1 : 3
Use only 1-2% risk
Good luck
Possible Inverted Head and Shoulders Completing This WeekThis may be an inverted head and shoulders we're looking at and about to complete the right shoulder. So if that's the case, we're gonna be bullish this week. If not, we should test the weekly zone at 123.526 and push down to the next levels.
BULL TPS:
• 124.297
• 125.022
• 125.885
BEAR TPS:
• 123.580
• 123.107
• 122.601
Waiting for Retest of Bullish Engulfing To CompleteWe're going to be trading off the results of the bullish uptick and the partial retracement from last week. It is actually a bullish engulfing on the daily timeframe. If we go back down, he may bounce from the daily zone of 1.71798, then head to the weekly level at 1.70366. Otherwise, we'll continue to go bullish once the retracement is complete as soon as we pass the daily level.
BULL TPS:
• 1.71684
• 1.72830
• 1.73672
BEAR TPS:
• 1.70968
• 1.70498
• 1.69885 only if the retest of the engulfing candle on the higher timeframe fails and we pass through the weekly level.
Bearish Trend May ContinueGold looks like it'll continue to drop this week according to the technicals on the higher timeframe. It looks like it's just a flag. If we don't drop right away, we'll retest the monthly 1924.42 zone more time before to dip. I also added Bull TPS in case it can break the downtrend.
BEAR TPS:
• 1888.42
• 1886.14
• 1846.39
BULL TPS:
• 1919.12
• 1931.37
• 1945.68
• 1978.15
CADCHF - NEXT MOVE - COT REPORT - SEASONAL Hello, traders! As we can see we have some obvious bearish pressure from the CADCHF pair for some time now. This is due to an increase in long orders for the CHF as investors move their money into safe bonds and currencies with Low-interest rates during a global pandemic. We can see an increase in CAD short orders and an Increase in CHF long orders from last week's COT report showing us that we could have a high possibility of a move to the downside.
Bearish setup for #AUDUSDWaiting for a small pullback on this 1H timeframe. Possible entry in the marked zone. #AUDUSD #Fx #USD
GBPJPY: LongGJ is testing a highly respected psychological level right now, i'm expecting price to rise back up into the green zone once again. I linked the GJ post I posted yesterday to show you how my analysis is going day by day with this pair. I'll take my profit at the median of the green zone. Once price closes over the wick from the last candle, you can buy.
