TheFxAce

TheFxAce

As per yesterday's trade idea on the EURUSD were I said that a correction up towards 1.03 -106 was immient after the market formining a support area around 0.99 after multiple times trying to close below it sellers where exhausted buyers have now entered after the DAILY signal on my indicator already 120pips in profit :) )

TheFxAce

Just a quick update on the SELL setup I posted yesterday as you can see the correction has began once we took out the 2002 high and then had a Daily close back under 110 with a SELL signal on the indicator moving nicely will move STOP loss to breakeven and close 30% of the position :)

TheFxAce

Today's analysis is based of the HFT WEEKLY and MONTHLY charts with emphasis on the daily and 4hr charts were we can see evidence of a support being formed around the 0.99 area. As you can see on the WEEKLY chart my custom indictar gives very accurate signals when used on the weekly charts and especially around key price areas like we are at now. The EURO is...

TheFxAce

Just a quick update on the idea I posted on the DXY Dollar index yesterday were I said I suspect there would be a correction after taking out the 2002 September high which was located at a Monthly SUPPLY/SELL zone, correcting down towards the 103 area before then moving higher towards 117. I wrote yesterday that I wanted to see a Daily close back down under 110...

TheFxAce

The Dollar is surging and nothing seems to be stopping it the DXY has been rallying for nearly 16 months straight without a correction. We have just taken out the 2002 September high this also being at a SUPPLY/SELL zone from 2002. I suspect we may get a short term correction soon down towards the newly created DEMAND/BUY zone between 103.5 -100 this would be a...

TheFxAce

We have to go all the way back to 1980 to see the last time the CHFJPY was at current leveks which is pretty insane as have all yen cross pair moves this Year and picking tops is very risky hence waiting for the correct signal is important. Looking at the monthly charts we are now in a SUPPLY area from 1980 on daily charts we have broke out off a congested period...

TheFxAce

Just a quick update on the GBPUSD oosition I posted over the weekend it's going as expected yesterday dropping down to the 2020 low and rallinying from there, i entered this position @ 1.146 and will target the 1.175 area which is the last weekky low that was taken out in the current trend I expect a reaction there with price droppinf back below 1.16 then will see...

TheFxAce

On my previous USDJPY trade idea I said that if there was a clean break of 138 then we would move up to new highs this occurred last week and have now entered a HUGE untested SUPPLY/SELL zone with a nice 1,2,3 push topping formation on both the WEEKLY Chart and on the RSI showing this formation with the MACD also starting to show divergence. When these sort of...

TheFxAce

Time to BUY GBPUSD going off the Weekly charts as we approach the 1.14 2020 low I expect it to hit this level early next week. Can already see MACD divergemce appearing on the 4hr charts will hinting of a move up is around the corner given that are Approaching the key 1.14 support makes this a great trade. Will start building into a LONG position early next...

TheFxAce

We are now approaching a Weekly supply/sell zone starting at 0.975 where we had a huge sell off before. This is the first test/touch of this zone and given it has only taken 2 weeks to get back to this level from the last low we are highly likey to get a SELL off from here again. As you can see in the image above we have a small Daily SUPPLY/SELL zone between...

TheFxAce

We have reached Monthly low from 2015 when the depegging event happened though I have seen data on MT4 platforms where the spike down was a lot lower see the support level below. We can see price action getting very choppy around this level both on the weekly and daily charts and last weeks candle close looks very likely that we will get a move up from this...

TheFxAce

EURCAD has been dropping pretty heavy for nearly 2 years now and analyzing the MONTHLY and WEEKLY charts we have now entered a key long term demand/buy zone and at we touched a strong support level from 2011 this is all indicating that we have a potential 1200 pip BUYING opportunity back up to 1.40. As you can see on the chart above on the DAILY chart price has...

TheFxAce

Today's trading idea is a LONG setup on GBPAUD. Currently we have entered a Monthly demand zone from 2017 and approaching a weekly demand zone also from 2017 as pictured above. The weekly zone is untested the price range being from 1.691 - 1.664 it is highly likely price will drop down into this zone very soon as it's about to breach the 1.70. On the 4hr chart...

TheFxAce

Today I have got a fantastic R/R SELL trade on the AUD/NZD for both short term and for holding long term. We are now approaching again the top of a long term Monthly and Weekly range on the AUDNZD going back nearly 7 years. Also looking at the Monthly chart price has been rallying straight up to this area for 12 straight months/candles without much of a...

TheFxAce

Quick update on my BUY ideas from earlier price dropped down to 1.13 area and buy signal triggered on indicator. Entry 1.1307 Stop loss 1.124 Take profit 1.145 Already hit breakeven and stop moved to entry

TheFxAce

SELL Idea on GBPCHF this is a trend continuation trade going with the Weekly charts. GBPCHF has been dropping heavy as of late and looks like it is targeting weekly price zone between 1.125 -1.11 which are actually 2 weekly lows from 2020 at the beginning of COVID we had huge buying reaction here before and the way the market is dropping I suspect it will target...

TheFxAce

BUY trade idea on GBPCHF I have also posted a SELL idea on another thread. GBPCHF has been grinding down for a while now extremely oversold again yesterday it popped a new low below 1.13 which was last week's low and the retracing sharply back up towards 1.135. Price seems to be forming a bit of a support around 1.13 though zooming out to the weekly charts we can...

TheFxAce

Quick update on my EURUSD trade setup from earlier as per idea price has entered BUY/trigger zone and indicator give 15min BUY signal so trade entered. Stop loss @ 0.992 Take Profit @ 1.018 Breakeven @ 1.004 Trade is valid for 1-2 days max.