You can see my forecast ;) Got the sell side liquidity, market just balanced price a little bit above the equilibrium poiint testing the FVG left. Now making a new direction of liquidity after it break the market structure bellow the consolidation.
If the conditions of the market continues I will go short on this area. Currently DXY is making huge movements and we have to be carefull with possible rises on the quantitative thightening.
Our current view on USDJPY. Reason to SELL: reached a 4HR order block, equal top in the 1min and 5min timeframe, 1min OB was re-priced. Regards. Team PRFX :)
From our perspective on XAUUSD right now, the momentum has changed and there was a clear BOS on the structure and in terms of order blocks. It's very important to look for OB confirmations since this price areas have a strong presence on the market. You don't need indicators or any fancy setups, look for simple confirmations and find a consistent strategy based...
Quick scalping on gold. Go to lower timeframes to understand my process of thinking. Regards, Team PRFX :)
The chart says everything, we have the low of the weekend with a good BOS that left an imbalance to be filled. Our targets will be the price zones of the respective order blocks with special attention on the first OB, where the price can continue a downtrend. Regards, Team PRFX :)
Pretty simple analysis on this one. USDJPY is on a bearish bias, DXY (dollar index) is currently with a weak bullish sentiment entering a mix between BULLISH/BEARISH which could indicate weakness of dollar pairs. We have right now a BOS (break of structure), nice bullish order block, and an imbalance to be filled before a possible continuation of the bearish...
Meanwhile, we had a re-pricing of some imbalances today on GBPCAD. Currently, we are looking for buying opportunities to reach the gap formed today at the end of the day. The market will probably stop all buyers (the majority) before reaching the GAP so it's better to play safe and go long in the imbalance area below the gap when the confirmations we need are...
This is our current forecast for the GJ pair. Bearish bias with a mix of some fake BOS. Let's see if the market respects these levels. Regards, PRFX Team :)
We believe that after testing the previous Demand Zone and re-pricing the Imbalance area bitcoin will now reach the 70k price area. Regards, PRFX Team :)
This pair is currently in a bearish bias. Either way since it left some imbalances (insufficient price action) to re-price it is possible to have some long positions this next to week. We will keep you updated. Regards, PRFX Team :)
After a clear break of structure (BOS) we take a look at crucial levels such as the 71% retracement area, imbalances made in the BOS movement and supply zones. Since the market just made equal highs, it is possible that stop losses remain above this price area and for that reason we are not going to trade on this level but in the supply zone above. For further...
GBPCAD currently made equal lows and break the current structure. Overall the pair is still bearish and will change the sentiment after breaking the nearest bearish order block on the price are of our take profit for this trade. Price is respected the last 2 order blocks and we believe that it will respect this one. At least until reaching the order block...
IMX is a powerful cryptocurrency that is trending in all-time highs right now. We saw the project, liked it and executed some long positions. This cryptocurrency is used in the NFT's world and we believe it is currently still undervalued. Some day we will share some more positions on this crypto. Regards, PRFX Team :)
After identifying the BOS (break of structure) we looked for the imbalances left behind along the BOS movement. We could have executed some positions when the 4-hour imbalance was re-priced and caught some good movements, but we were not online :) Since the 1-hour imbalance was left behind we targeted that area for a new Sell Limit and this was the result. For...