currencynerd

currencynerd Updated 

gbp/jpy , Great British Pound / Japanese yen gbpjpy has been trading in a range since late last year, from my analysis i expect price to break out of the range and trade above the 161.000 price areas where price has been finding tough resistance with an overall outlook of more upside movement. trendline is also in place and price is trading above it...

currencynerd Updated 

Since UKOIL & USOIL have a positive correlation , I won't give a detailed description as I already posted an idea on UKOIL with a well detailed description. You can find the link to the IDEA below.

currencynerd Updated 

starting off my analysis on the MN timeframe price took out a supply level @ 67.28 with its rally to the upside , price then made a swing high @ 86.68 before retracing , with the retracement being the market coming to retest the break of the MN supply level now acting as demand (prev supply becomes demand) at the level I also have a weekly demand level @ 69.91...

currencynerd Updated 

Our mentor , who art in the market , hallowed be thy name ; thy strategy come ; thy emotions be controlled on live accounts as in on Demo. Give us this week our daily pip targets ; forgive us all our bad risk management as we forgive those who gave as signals that blow our accounts ; lead us not into stop loss but deliver us from stop hunts. For thy is the market...

currencynerd Updated 

Takashi Kotegawa also known as bedroom day trader Takashi Kotegawa was born on March 5, 1978, in Ichikawa, Chiba, Japan. In 2005, Takashi made millions through a single trade in J-Com Holdings after its IPO on the Tokyo Stock Exchange. That opportunity was thanks to an error committed by a trader at Mizuho Securities, who accidentally sold 610,000 shares at...

currencynerd Updated 

Price has been in a steady decline for some time , ranging in a daily chart descending parallel channel and last week price formed a full OHLC candlestick indicating breakout and possible shift of momentum from bearish to bullish as also price is creating higher highs and higher lows. This sudden move to the upside was caused by monthly chart demand valley with...

currencynerd Updated 

EUR/NZD euro/new zealand dollar on the monthly chart price is trading in a consolidation phase trading between notable high @ 1.86800 and average low @ 1.51200. in a smaller MN chart overview price is trading in an ascending channel but MN supply of proximal price @ 1.69900 is in control indicating a possible increase in ongoing bearish momentum. on the...

currencynerd Updated 

Palladium (xpdusd) analysis + possible trade setup ! since march 2022 price has been mostly trading to the downside and is currently trading in a corrective rising wedge with supply level @ 2256.200 in control indicating that current market momentum is bearish. price trading below the support trendline of the wedge pattern but has not yet formed a full OHLC...

currencynerd Updated 

I was with a close friend of mine also a trader a few days ago, he told me that "trendlines do not work" and i am in several social media trading groups and some traders share the same opinion regarding the charting tool. The reason for this is that some traders rely on the basing's that they have been taught or read without taking the time to backtest and get...

currencynerd Updated 

There should be a maximum of 4-6 candlesticks at the base. The less number of candlesticks at the the base the more the strength of the zone and vice versa . other features of a good zone include : -tight candle bases with bodies less than 50% -strong departure , 2nd leg (IMPULSE) with at least 2 ERC candles closing at its high (about 80% of the whole candle...

currencynerd Updated 

btcusd bitcoin/ u.s. dollar the crypto heavyweight showed a lot of downside momentum in 2022, trading in a downtrend for almost the whole year. In Nov 22 price found support around the $16k price areas giving a +30% price increase as to current high, this increasing demand also caused price to break out of bearish parallel channel and found some...

currencynerd

CADCHF canadian dollar/swiss franc most of the market research, analysis & trade bias taken comes from the swing intermediate chart, 4H! price broke out of ascending parallel channel forming several OHLC candlesticks above it indicating large volume presence of bullish momentum. taking reference from Weekly chart, W demand of proximal...

currencynerd Updated 

Platinum/U.S Dollar (xptusd) analysis + trade breakdown : starting my analysis on the monthly chart (yearly overview) price has been trading in downward range, trading firmly between 2 parallel trendlines which are acting as dynamic support & resistance. monthly supply level now acting as demand @ 831.300 is in control having pushed price up by ≈10.20% to...

currencynerd

Great British Pound against Japanese Yen (gbjpy) intro + fundamentals The Office for National Statistics reported that the Oct Consumer Price Index - CPI rose by 1% from the 10.1% from the previous month. This data came out higher than expected and is a sign that the Bank Of England - BOE will further raise borrowing costs as a measure to cool down the...

currencynerd

Gold (xauusd) intro + fundamentals Last week price data has shown the biggest GOLD gains last witnessed march 2020, this was due to a weak US Dollar which made XAUUSD more appealing to global investors. This was caused by the statistics released by the US labor department that ≈ 261K jobs were added to the US economy but this statement was received negatively...

currencynerd

Nasdaq-100 Index (US100) this week biggest U.S technology companies are to report their quarterly results : Alphabet Inc. (GOOG) , Amazon Inc. (AMZN) , Microsoft Corporation (MSFT) , Apple Inc. (AAPL) , Meta Platforms Inc (META) with Tesla, Inc. (TSLA) last week beating earning expectations positive results could cause a rebound driving the index...

currencynerd

Euro/U.S Dollar (euro/usd) intro : last week economic data showed a record high of euro area annual inflation rate, up 0.8% from august bring the total figure to 9.9% in September , with all eyes on the ECB this week as they are expected to raise interest rates by 75bps as control measure to cool down rising inflation. This willl bring borrowing costs to the...

currencynerd

British Pound / U.S Dollar (gbp/usd) with rising inflation being a global issue the U.S dollar has proven to be few of the financial assets that are a good hedge against inflation. The British Pound has taken a beating against the dollar reaching 1985 low @ 1.05200 before correcting to 1.14400 price areas. Intraday Outlook : price gave a third touch on...