BluetonaFX

BluetonaFX Updated 

Hi Traders! We have a head and shoulders setup here on AUDUSD, we are looking for a break and close of the neckline to target the support level of 0.65731. We are also below the 50 Moving Average, which supports the bearish bias, though for us to remain bearish we must break the neckline for a push to 0.65731. If the market reaches there, we expect some support...

BluetonaFX

Hi Traders! We have a rectangular range setup here on the 1D AUDUSD chart. With the rectangular setup, though it is a neutral formation where it can breakout to either side, there is a bearish bias here. The reason for this is by looking at the price action; there is a long term uptrend here on the 1D chart. However, with the retracement to the uptrend, there is...

BluetonaFX Updated 

Hi Traders! We have a bear channel setup here. The market has been slowly drifting down. We can see this with the price action showing lower highs and lower lows, resistance swings have been getting lower. We are looking for a momentum break and close of the 1.24145 level. If this happens, the psychological level of 1.24000 is the next level to watch out...

BluetonaFX Updated 

Hi Traders! We have a long-term ascending triangle formation on the 1D chart. There is a triple top resistance setup at the 138.136 (December 16th 2022 high) area and we must break and close above this level for a bull push towards the psychological 140.000 level which we have not seen for almost a year and a half. As long as we stay above the 50 Moving Average...

BluetonaFX Updated 

Hi Traders! Please see the updated chart for EURUSD. We have a possible reversal to the bearish price channel. We have the first resistance around the 1.09082 level, which is the April 17th 2023 low that we broke as Support. If we retrace from 1.09082 instantly, we are likely to target the support level of 1.08313, which is the low for April 10th 2023. If we...

BluetonaFX

Hi Traders! Our trendline break setup on 12/05/2023 fulfilled our idea, we rallied to retest the trendline break and had a small squeeze back inside the trendline before moving back down. There was a great risk-reward opportunity here for a re-entry short and we are now looking for another test of May 2023's lowest level at 1.24355 to see if we can break and...

BluetonaFX Updated 

Hi Traders! We almost end the trading week with a trendline break. After failing to push through the major 12 month resistance high, we had a big momentum swing down looking to test the lowest point of May 2023 at 1.24355. We must break this level with momentum to continue down looking for further support around the 1.23448 level. There may be another...

BluetonaFX

Hey Traders, Please see updated chart setup for SILVER. TARGET 1 - 24.681 TARGET 2 - 25.097 TARGET 3 - 25.518 Price is respecting the SILVER PIVOT CHANNEL (OUR UNIQUE WAY TO DRAW CHANNELS) As long as price maintains above this level we should see a test to our targets above. We will trade this movement in stages from support to resistance and maintain a...

BluetonaFX

Hi Traders! Our Triangle setup yesterday broke and closed to the downside and reached our forecast support of the 1.09085 level (April 17th low). We now wait to see if there is any buying demand at this level, or if the market wants to continue to the downside. Please do not forget to like, comment and follow. We appreciate your support. BluetonaFX

BluetonaFX Updated 

Hi Traders! Our bearish channel on EURUSD has now turned to a triangle setup and we are now looking for a breakout to see if there is a clear direction to continue in. We are slowly approaching a 3 week low (on April 17th) around 1.09085. We expect support around this level. To approach this level, it is important to have a momentum breakout of the triangle...

BluetonaFX

Hi Traders! We are trading near May 23rd 2022's high of around 1.26632, hence why we have been struggling to get any momentum. The market is currently undecided as to where to go from here. Due to the market being at the highest point for almost 12 months, there is bound to be some resistance at this level. We also had an inverse head & shoulders pattern...

BluetonaFX

Hi Traders! Our GBPUSD setup yesterday morning reached our forecast Support 1 level of 1.25850 and had a small push up. We will now wait and see if there is another resistance test or another test to the downside to see if there is any demand at the second Support level. Please don't forget to like, follow and comment. We would love to hear any thoughts you...

BluetonaFX Updated 

Hi Traders! We have a bullish price channel showing higher highs and higher lows. We look to have currently exhausted the bullish push. The price action shows an Evening Star formation which indicates a possible reversal to the bullish trend. We have support levels at 1.25850 as the first level and 1.25499 as the second support level. We will continue to...

BluetonaFX

Hi Traders! EURUSD is very quiet and looking for a direction. This may depend on fundamental news out later today with the FOMC and ECB speaking this evening. On a technical outlook, we have a bearish price channel with lower highs and lower lows, there is strong buying pressure around the 1.09630 area and strong selling pressure around the 1.10950 area....

BluetonaFX

Hi Traders! We are in a range looking for a clear direction. We are stuck between Support 134.618 and Resistance 135.326. A breakout in either direction is what to look out for in this setup. For a breakout to the upside, we need to break and close above 135.326 to target 137.774. For a breakout to the downside, we need to break and close below 134.618 to...

BluetonaFX

Hey Traders, We posted this idea yesterday with our first TARGET now complete. Our level was respected perfectly. At the end of last week's Friday close, WTI had settled after a three week continuous plunge that had hit a low that was last reached in late 2021. The crash was caused by anxiety over the US economy. Speculators and investors had rolled out of their...

BluetonaFX

Hi Traders! We are approaching a 3 week high around the 0.68076 level on the AUDUSD. We have not been this high since April 14th so we expect some resistance around this level. Over the past week, we have had strong bullish momentum after failing to break the long term support level of 0.65637. Further to the upside, there is a long term 50% retracement...

BluetonaFX

Hey Traders, Please see our chart idea fir USOIL and range projection. TARGET 1 - 73.61 TARGET 2 - 82.72 We are looking for break and retest as support to trade the movement. Please like, comment and follow to support us, we really appreciate it. BluetonaFX