Charts247TradingAcademy

04:57

Charts247TradingAcademy

Following the low established on Wednesday, 6th November 2024, we have observed a completed bullish wave structure. Subsequently, the price traded the low at 1.0682, forming a bearish completed wave pattern. Based on this price information, a bullish phase is anticipated in the next movement. We are entering a buy position, anticipating increased buying momentum...

14:46

Charts247TradingAcademy

Hi Traders, Here's a summary of the week so far for USD/JPY and GBP/USD. This week has been packed with economic data releases. Earlier today, the Bank of Japan kept interest rates unchanged but expressed optimism about improvements in the broader Japanese economy. The overall trend for USD/JPY remains bearish, and we anticipate this to persist into the coming...

06:33

Charts247TradingAcademy

The reaction of GBPUSD to the Bank of England's interest rate decision has been fairly muted. In the short term, we're looking for selling opportunities, aiming for a deeper reversal towards the 1.3146 level. Key levels to watch: Target 1: 1.3146 If price breaks below 1.3146, the next target is 1.3000. Stop-loss recommendations: Technical Stop:...

14:33

Charts247TradingAcademy

Hi Traders, Following yesterday's USD news, the Federal Reserve has reduced the interest rate by 0.25%. It seems the market has already absorbed this news, and our attention shifts back to the USDJPY pair. On Tuesday, my analysis showed a price break above the H4 structure. According to this structure, we can anticipate a continuation of the overall downtrend....

19:39

Charts247TradingAcademy

This is a live execution of USD/JPY trade, demonstrating how to successfully execute a counter-trend strategy. This trade was all about understanding the market phases and recognizing the trend reversal at the right moment. To pull off a counter-trend trade, you need more than just technical skills—you need a solid grasp of trading psychology. Staying patient,...

15:41

Charts247TradingAcademy

The main trend for USD/JPY is down, but the price is currently in a correction. We expect the secondary trend to continue. In the H1 timeframe, the wave structure suggests a higher high is likely. Target areas: T1: 141.64 T2: 142.28 H4 Target: 143.04 Stop Loss: 140.30

19:38

Charts247TradingAcademy

Hello Traders, Today, I’ll share my portfolio selection approach in forex trading. This method helps identify the best forex pairs to trade based on their relative strength. The simplest and most effective strategy is to use the Currency Strength Index (CSI), combining the H4, Daily (D1), and Weekly (W1) cumulative strength. By analyzing this data, we can...

Charts247TradingAcademy

Based on this morning’s analysis, we’ve seen a break above the momentum high, signalling that buyers remain confident the EURUSD isn’t too overvalued. As a straightforward principle, we trade what we observe. Buy above the momentum high, aiming for the next decision point at 1.1140 (H4 Structural Point). Stop Loss: What gets you in, gets you out! Technically, if...

14:54

Charts247TradingAcademy

This morning's analysis focuses on the current state of play in GBPUSD, EURUSD, and USDJPY. The overall trend for the USD remains downward, and this week has seen a continuation of that trend. GBPUSD & EURUSD In the short term, there is potential for a sell trade (Secondary Trend) as a retracement of the recent bull run towards the buy zone of the bullish...

04:13

Charts247TradingAcademy

The USDJPY H4 remains firmly in a strong downtrend. The recent price action shows a powerful extension wave downward. We're focusing on selling the pullback on the 15-minute chart. Targets are set at 140.27 for the first and 139.59 for the second. Stop at 141.97. Happy Trading!

14:28

Charts247TradingAcademy

This a quick analysis and overview of the following pairs: EURUSD, USDJPY,GBPUSD and CADJPY. Most of the major pairs are waiting for the major economic news this week, so be careful take quick profits or loss and be consistent. Happy Trading.

11:35

Charts247TradingAcademy

Successful trading is knowing what to do and doing what you know. The knowing part is very simple but the doing part is not easy that is why most people struggle in trading. This afternoon, during the New York session, my focus is on GBP/USD. We are buying based on the H4 timeframe, where the wave structure remains bullish since the price hasn’t closed below...

19:05

Charts247TradingAcademy

This strategy follows a multi-timeframe approach, using the 4-hour (H4), 1-hour (H1), and 15-minute (M15) charts. We start with the H4 timeframe, which gives us the overall market direction. It’s important to trade in line with this timeframe whenever possible. If there’s no change in direction on the H4, we move to the H1 to guide our next trade decision. If...

18:23

Charts247TradingAcademy

In today's session, I will be analyzing the USD/JPY, GBP/USD, CAD/JPY, and EUR/USD pairs. The framework I follow includes: Portfolio selection Currency ranking Multi-timeframe analysis. Below is the portfolio selection for this week: AUD/CAD: Bearish (-5%) AUD/JPY: Bearish (-59%) AUD/USD: Bullish (17%) CAD/JPY: Bearish (-54%) EUR/CAD: Bullish (16%) EUR/JPY:...

05:15

Charts247TradingAcademy

The Primary trend in the Dollar-Yen 4hrs timeframe is still Bullish, we can see a completed Bullish wave structure. If we apply the trending market truth it says the trend will not change easily. Also, a reversal is not a trend change. What we can see is normal behaviour in a trending market, the price has become too high at the Momentum high (5), the buyers took...

Charts247TradingAcademy

The market is a discounting mechanism. When prices rise too high, buyers start taking profits, aiming to buy at lower prices during an uptrend. This behavior sustains the trend. In USD/JPY, this concept is evident. The swing low at 160.26 attracted strong buyers, pushing the price above the previous high, creating a new higher high. At this peak, buyers no longer...

08:14

Charts247TradingAcademy

This morning, the focus is on the Dollar-Yen pair. The bullish trend is evident across all timeframes. Yesterday, we observed a strong break of the reversal structure at 161.269 after reaching a momentum high of 161.95. This break is crucial for the continuation of the bullish trend. Following the break, a bullish pattern has formed, and the price has moved into...

04:58

Charts247TradingAcademy

The GBPUSD has traded above the Weekly Key Price of 1.2675, establishing an uptrend in the 15-minute timeframe. Although the weekly, daily, 4-hour, and 1-hour timeframes are bearish, we focus on trading what we observe in the current timeframe. With the price trading above 1.2675 and a bullish wave structure, our action is to either buy or remain on the sidelines...