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GBPJPY LONG SETUP Smart Money Play for GBPJPY With GBPJPY showing signs of support in the current range, the smart play would involve waiting for confirmation of continued strength before entering long, or positioning for a minor pullback in line with the recent shift in momentum. 1. Identify Key Support Zone • Price is currently testing the 100 SMA on the 4-hour chart and is positioned near two previous significant turning points. This level could act as a pivotal support if buyers re-enter the market here, as it has been a strong level in the past. • The presence of the 4-hour Ichimoku cloud just below price suggests that any break lower could see further downside, but above it, we may be primed for a continuation to the upside. 2. Volume and Trend Alignment on the Daily • With the ADL, CMF, and CMO still positive, underlying buying pressure remains intact. The positive daily Ichimoku cloud further confirms a bullish trend, especially since price is above the cloud and the lagging span is supportive above price. • Daily RSI being above 50 also supports a bullish outlook, though the recent fall indicates a need for confirmation that buyers are indeed stepping in at this level. 3. Monitor Lower Timeframes for Pullback Confirmation or Reversal • 4-Hour Chart: Wait for bullish confirmation to resume on the 4-hour MACD or RSI. If the RSI and MACD indicators start to show signs of upward momentum, it could signal that buyers are actively defending this level, supporting a bullish entry. • 2-Hour MACD: The MACD remains dark red, signaling current downside momentum. For a higher-probability entry, wait until MACD shifts lighter or flips entirely, indicating a possible end to the pullback. 4. Confluence with Bollinger Bands and Divergence on Lower Timeframes • The price recently touched the upper band of the daily Bollinger Bands, indicating a high point, and is now testing the 20 SMA. This setup suggests we are at a consolidation or retracement phase. • On the 15-minute chart, RSI divergence (price making higher lows while RSI makes lower lows) could hint at a potential bullish reversal at this support zone, but higher timeframe confirmation is needed. Trade Idea Given these signals, there are two potential smart-money plays: 1. Long Continuation: • Wait for the 4-hour indicators (MACD and RSI) to confirm a bullish reversal. Enter long if RSI begins to rise again and MACD shows green momentum, ideally with a close above the 100 SMA on the 4-hour as confirmation of strength. • Place stop-loss below the 4-hour Ichimoku cloud or recent support levels, aiming for an initial target near 199 or the upper Bollinger Band on the daily. 2. Short Pullback Trade (if price breaks 4-hour support): • If price breaks and closes below the 100 SMA and the lower edge of the 4-hour Ichimoku cloud, consider a short entry targeting the daily 20 SMA or the 197 level as interim support. • Monitor CMF and ADL for signs of waning buying pressure, as well as confirmation from MACD on lower timeframes turning darker again, supporting a continued down move. Summary of Smart Money Play 1. Trend Bias: Overall bullish on the daily, but cautious of the pullback on the 4-hour and lower timeframes. 2. Setup: Wait for pullback completion or a break of support for bearish continuation. 3. Entry Trigger: Use 4-hour MACD and RSI as signals to confirm reversal to the upside or continued weakness. 4. Risk Management: Place stops below significant support zones, targeting recent highs or lower support levels in line with the trend.
Long
by Shivsaransh1
EUR/USD 1-Hour Chart Breakdown🚀 EUR/USD 1-Hour Chart Breakdown 🚀 Current Price Levels: Right now, EUR/USD is around 1.0777. Key levels to watch include 1.08108 (resistance) and 1.07463 (support). These levels could be crucial for breakouts or reversals. Recent Trend: We had a significant drop, followed by a slight recovery that seems to be consolidating. It looks like price is moving within a range between 1.07463 and 1.08108. Potential Moves: Bullish: If we break above 1.08108, it could signal more upside momentum. Bearish: If it drops below 1.07463, the downtrend might continue, targeting lower levels like 1.07178. For now, it's in a bit of a consolidation zone. Keep an eye on those support and resistance levels to catch any big moves! 📊👀
by mubeenbinsaddiq
EURCAD Will Move Higher! Buy! Here is our detailed technical review for EURCAD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.497. Considering the today's price action, probabilities will be high to see a movement to 1.503. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
EURNZDEURNZD New forecast👨‍💻👨‍💻 Note: Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP. Please support this idea with a Like and COMMENT if you find it useful click "follow" on our profile if you will like these type of trading ideas delivered straight to your email in the future. Thanks for your continued support!! lemme know your thoughts in the comment sec...
Short
by King_CityStar_Fx
ICT Long setup EURCHF session trade and swing trade👋Hello Traders, Our 🖥️ AI system detected that there is an H1 or higher timeframe ICT Long setup in EURCHF for session trade (a couple of hours) Here is a session trade idea (since it is near support surface, we should use small lot size) Please refer to the details Stop loss, Buy Zone,open for take profit. For more ideas, you are welcome to visit our profile in tradingview. Have a good day! Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
Long
by ICT_Trader_SB
NZDCHF Testing Mean ReversionOk, just now I exited the sell trade for NZDCHF testing of mean reversion. However, I quickly realised that price doesn't necessarily respect the 60SMA. And when price does make an oversold or overbought, and that price is moving in a certain direction based on evidence ie. higher high higher low, in this instance, then, we should take that into serious account instead of trying to go against the grain. I think that this is just like business, you cannot stick to something when it is not working, and you know it is not working and you know that it is not something you can operate even if it turns out to be profitable. Ni bu ke yi resistant, ni resistant yi ding hui bei tao tai. - Ryan(R U Okay!? on WahBanana CEO episode) You cannot be resistant, once you be resistant, you get disqualified.
Long
by ProfessionalDuckHunter
USDJPY_108 2024.11.08 04:58:04 Trading Signal SELLFrankPro Signal for USDJPY_108 Type: Screen Signal: SELL TP: 152.5545 SL: 152.803 Entry Price: 152.732 Analysis for USDJPY Forecast Overall(Short-Term, Long-Term): ST= Probably Up LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Up LT=Up ST=Up LT=Up ST=Down LT=Up Analysis Method(0) Based on the provided analysis, here are my predictions for the USD/JPY pair: **Short-term (next few days/week):** * The pair is expected to test the support area near 151.85 before potentially rebounding and continuing its growth. * The current retracement from recent highs is seen as a minor correction, and the pair is likely to resume its upward trend. * The support levels at 150.78 and 149.77 are expected to hold, and the pair is likely to bounce back from these levels. * **Prediction:** The price is expected to go **UP** in the short-term, with a potential target above 159.65. **Long-term (next few weeks/months):** * The bullish channel and moving averages indicate a long-term bullish trend. * Trump's policies are expected to support the US dollar and put pressure on the yen, which could lead to further gains for the USD/JPY pair. * The Bank of Japan's potential end to its negative interest rate policy in 2024 could also support the yen, but this is not expected to happen until early 2025. * **Prediction:** The price is expected to go **UP** in the long-term, with a potential target above 159.65 and possibly even higher. **Note:** The predictions are based on the analysis provided and are subject to change based on new market developments and data releases. Result: ST=Up LT=Up Analysis Method(1) Based on the provided analysis, here are my predictions for the USD/JPY currency pair: **Short-term (next few days to a week):** The price is expected to **go up**. The analysis suggests that the USD/JPY pair will continue its upward trend, with forecasts indicating a potential test of the support area near 151.85 before rebounding and continuing growth towards the area above 159.65. The pair has already pushed past several resistance levels, and a breakout of the resistance level and consolidation above 155.05 would confirm the price rise. **Long-term (next few weeks to months):** The price is expected to **go up** as well. The analysis highlights several factors that support a strong upward trend for the USD/JPY pair, including the US presidential election outcome, expectations of more cautious Federal Reserve rate cuts, and the potential for rate hikes by the Bank of Japan. Additionally, the technical analysis suggests that the pair is likely to continue its growth towards the area above 159.65. Overall, both short-term and long-term analyses suggest that the USD/JPY pair is likely to experience an upward trend, driven by a combination of economic and political factors. Result: ST=Up LT=Up Analysis Method(2) Based on the provided analysis, here is my assessment of the USD/JPY pair's expected price movement in both the short-term and long-term: **Short-term (next few days to a week):** * The pair has backed off from its recent highs and is expected to test the support area near 151.85. * A potential upward rebound and continued growth to the area above 159.65 is forecasted. * However, if the pair falls and breaks through the 150.25 level, it would indicate a breakout of the support area and a continued decline. * Given the mixed market sentiment and the US Dollar's rally halt, I expect the price to **stay the same** or experience a **slight decline** in the short-term, potentially testing the 151.85 support level. **Long-term (next few weeks to months):** * The outcome of the US presidential election and Donald Trump's policies are expected to lead to higher inflation and interest rates, supporting the US Dollar. * Japan's National core CPI acceleration and potential changes to the Bank of Japan's negative interest rate policy could impact the yen's value. * The technical analysis suggests a potential upward rebound and continued growth to the area above 159.65. * Considering these factors, I expect the price to **go up** in the long-term, potentially breaking through the resistance level and consolidating above 155.05. Please note that these assessments are based on the provided analysis and are subject to change as new market data and events emerge. Result: ST=Down LT=Up
Short
by orbborisson