I have done plenty of analysis on the GBPUSD in the past few weeks and nothing has changed in our outlook. The wave of disbelief has matured and we are now selling the cable. The risk is 1.2636 about 60 pips from where we are right now. For those who like confirmation, a break below 1.2568 is your first confirmation that more sellers have joined the party.
The 15-minute timeframe is now a downtrend, we saw a completed wave structure yesterday. The pullback to that move is valid and we expect a follow-through. Having said that, the 1Hr timeframe is still not 100% Bearish, we need to see a break below 1.2466 before we can safely say the H1 is now bearish. The alternative Scenario is this; If the price should fail to...
USD/JPY The secondary trend on the USD/JPY has printed a trend-changing pattern after breaking above the pullback structure. This move gives us a piece of crucial information, that we can buy at the low after the current wave structure is complete. Currently, our high probability trade is selling now to buy later. GBP/USD The Cable is bearish because we have...
CAD/JPY The outlook of the CADJPY is very bearish, based on the Multi-timeframe waves structure count we should be expecting more downside in the pair. The bearish wave structure (4) on the H4 timeframe is not complete yet, we have seen a bearish 0, 1, 2, and 3 wave structures on the M15 timeframe. Having seen the 3 waves, we now have a more than 70% probability...
Changing a trend is not a simple task; it requires significant time and effort. However, the market typically provides us with valuable information in the form of a trend changing pattern before we witness a confirmed shift in the trend. The strength of the existing trend plays a crucial role in determining the duration needed for the trend reversal to...
I am providing an update on the ongoing CADJPY sell trade. All the confirmation levels have aligned in favour of the short position, validating our initial analysis. As anticipated, the price swiftly broke below the 1dh (one-day high) and continued its downward movement, breaching the structure (4). This development confirms the bearish momentum in the...
We have observed a significant development on the daily chart known as a Structural Failure, indicating a potential shift in the trend. The price experienced a notable pullback beginning on Friday, and today, analyzing the daily candles using the 4Bar rule, we have noticed a stronger downward conviction on the 5-minute chart. If the price remains below the 1DH...
Earlier today we saw a trend changing pattern in EURUSD. In light of this move, we are expecting another attempt to break lower. More info in the video. Enjoy
As expected price made a lovely rejection from the bottom of this consolidation zone and break out to the upside showing that we could be in for a longer term trend change. Ill be looking for price to make a pullback from the bullish move and look at catching the continuation leg to the upside. Wait for the best risk reward and follow market structure, price more...
Still waiting for price to provide the best entry on this possible sell off move I'm looking out for on USDCAD. Never forget the overall direction and trading against that can be risky and tricky but can pay off if you play it smart! Good luck everyone
Looking for a longer term daily downside trend, so ill be looking for a better entry point to look at adding some sell positions for another continuation leg to the downside.. If price pushes up above the last high this trade idea is obviously invalid.
Daily Chart: The GBPUSD has been one of my long-term pairs, the Daily chart is still bullish, we have seen the correction of the HH Last Action which retraced very deep. Price again rallied to give us wave one of the WOS. Now the correction is trading at 50%. 4Hr Chart: The trend is up price has retraced nicely with a clean corrective wave down without breaking...
After the downside pressure that we witnessed early on after the market open, the price has made a reversal back above the 1DL,2DL, and 3DL. This is a significant move, and the final confirmation is price trading above the previous momentum low (0.7336) created this morning during the Tokyo session. This is a low-risk trade and if the price remains above the...
Hey Traders so I just noticed that there a 123 top on the Bitcoin chart that has now completed. I think this can be a possible trend change coming if more sellers continue to push the market lower. I am not totally sure the correlation of Bitcoin to other crypto currencies as I am still new to this market. But from what I am reading they are correlated and follow...
We have seen Two completed trend changing patterns in this pair. The last bullish move that happened on the 4HRS Chart has resulted in a downtrend; series of LH'S & LL'S. The rally that is currently going on is an opportunity to sell if price stops at the 61.8% retracement area and also fail to break above 124.44. If we manage to get a sell out of the EURJPY,...
See video for analysis Remember *** Always stick to your own trading strategies and plans
This is a quick update on the Short Position we had on AUDJPY. Price took long to break out of the trading range below the Momentum low of 73.79. We finally had this break this morning. In order for further decline to be seen in the AUDJPY, price must remain below the momentum low and break 73.42 Low. Alternatively a break back above the 73.79 will trigger a...
Major Trend still down, and we have seen participation at 50% retracement of the recent down-move. Price has been trading in range since the 50% was traded. Weakness in Yen yesterday has given this setup a nice boost. We are short below 74.20 Stop Loss @ 74.50 Take profit @ 72.30