MartialChartsFX

MartialChartsFX

There may be a lot of choppy price action at the top of this trading range until price definitively starts to trend down to facilitate the correction or break out to make new highs. The reason for speculation that Nasdaq may be due for a correction is based on the current impulsive wave's similarity to the previous impulsive wave in both price and time. If the...

MartialChartsFX

Confirmation bias is a self defeating attempt to impose one's own bias on the market. This most often results in pre-trade chart blindness. When we analyze the market with a preset bias, we will only see confluences, patterns, price action, and setups that confirm our bias. This is the human flaw of needing to be correct. The need to be correct will cause traders...

MartialChartsFX

Based on my research into IPDA and algorithms, central banks, trading firms/hedge funds, and smaller banks use execution algos (EAs) for trading with different objectives. Small banks use EAs to split large parent orders into smaller child orders generally in one direction, buy or sell. These orders are executed separately over a period of time to either open or...

MartialChartsFX

Based on triple Fibonacci Retracement analysis (yes I just made that up) and market structure change of character. Expecting to see the pullback into the red fib to complete a shift of market structure and then drop.

MartialChartsFX

This looks to be a breaker block formation on the 4H. Profit target is a prior resistance level. There is a likely a demand zone just below the breaker so that needs to be accounted for.

MartialChartsFX

This is a multiple target price forecast and is aggressive to say the least, having 6 price objectives. This is for fun anything can happen in the market. While I don't believe the market to be random, I don't think that it is that predictable. Prices shown are my estimate followed by a range of 10 pips, 5 on each side of price, to account for volatility. Step...

MartialChartsFX

USDCAD 1H Short Setup after deep retracement. There is an untested resistance zone between price and the entry but I expect price to trade thought this level to fill the imbalance that has confluence with the trendline and broken support level. This would also serve as a stop hunt above previous highs. Entry 1.2760 SL 1.2784 (24 pips) TP1 1.2696 (64 pips @ 2.6...

MartialChartsFX

Buy opportunity as GBPUSD on the 1 Hour has swept liquidity and had a bullish break of structure. Expecting a retracement to fill the open imbalance below which has confluence with the last consolidation zone, deep fibonacci retracement, and the lower trend line in a bullish channel. Buy at the end of this hourly retracement. Keep in mind that the daily chart is...

MartialChartsFX Updated 

GBPUSD Short after pullback to broken support turned resistance. Entry 1.3410 - 1.3430 SL 1.3450 TP 1.3260 The Omicron variant is looming, so everything may go haywire.

MartialChartsFX Updated 

EURUSD Short after pullback to broken support turned resistance Entry 1.1410 - 1.1430 SL 1.1542 TP 1.1081

MartialChartsFX Updated 

EURGBP Short after retest of broken support turned resistance. This should form a double top and grab liquidity above the prior high before dropping. Entry 0.8496 - 0.8519 SL 0.8544 TP 0.8388

MartialChartsFX Updated 

AUDUSD Short after retest of broken support turned resistance Entry 0.7236 - 0.7256 SL 0.7295 TP 0.6948

MartialChartsFX Updated 

GBPJPY Short after retest of broken support turned resistance Entry 152.47 - 152.88 SL 153.64 TP 150.21

MartialChartsFX Updated 

USDCAD Long after retest of broken resistance turned support Entry 1.2695-1.2704 SL 1.2641 TP 1.2839

MartialChartsFX Updated 

GBPAUD Long after retest of breakout resistance turned support Entry 1.8592 - 1.8625 SL 1.8532 TP 1.8762

MartialChartsFX Updated 

Expecting EURUSD to potentially reach 1.2220. EURUSD is showing some rejection at the current level of resistance on the 1 hour and 4 hour charts so price may retrace to 1.21 before the impulse move up to 1.2220. The 1.21 price region is a daily support/resistance level as well as lining up with the 61.8% Fibonacci retracement level.

MartialChartsFX

This week's top down analysis of GBPUSD: Monthly: price is at resistance in a bearish rising wedge pattern, when it drops the next significant higher time frame support level is around 1.3350 Weekly: price is at resistance and forming double top pattern, when it drops the next significant higher time frame support level is around 1.3350 Daily: price is ranging...

MartialChartsFX Updated 

Expecting GBPUSD to retrace to 1.3920 after rejecting off of resistance that has held price within a daily consolidation range for a couple of weeks now. Maybe price gets enough steam after retracing to break out of the range but it is showing signs of rejection at the top of the range on the daily chart and with a pinbar formed at resistance on the 4 hour chart.