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tradetheday

Hello Fellow Traders EUR/JPY sold down into the 61.8% Fibonacci and buyers came into support price at 123.160 zone which was prior resistance. Retest of 200 EMA to provide entry for long side with confirmation of bullish candle signal. Key Points: - Daily – Price above 200 EMA - Daily – Price below 50 EMA – Strong resistance so caution - Daily – RSI broke...

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Hello Fellow Trader! ORE.ASX - Lithium producers have been some of Australia’s favourite stocks for several years supporting the worlds change turning to renewable energy in the battery space lead by Elon Musk and Tesla. Last weeks Tesla Battery Day was hyped up to be an extremely positive presentation that would skyrocket lithium back into the Australian...

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Hello Fellow Trader! Z1P has been well supported at $6.30 for the past week, even during that short term sell off after Presidential debate, buyers came back through holding price within this range. Many signals on the daily and 1 hour are now suggesting further support to the upside, and a recovering Nasdaq’s 8% rise since the 24th of September suggests the...

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Hello Fellow Trader! BTC/USD breaking out of the wedge pattern also coinciding with 50 and 200 EMA reclaim. When multiple signals support the thesis, our job is to be sure that execution and risk is defined. Wedge patterns are generally a sign of trend continuation when broken, and when found within bullish momentum can become quite potent. BTC/USD Key...

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Hello Fellow Trader! The previous post on GBP/USD signaled a buy at 1.27450. We now find ourselves within a 15-minute bull flag for further upside to hit the key level 1.3000. 4 – hour chart is also showing momentum to support the 15-minute trade. GBP/USD has risen 2% since the September low. Key Points: - 4 Hour – Reclaimed 200 EMA - 4 Hour – Price above...

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Hello Fellow Trader! USD/CHF - US GDP data due tonight following an interesting presidential debate earlier which commenced a 2% drop in the Nasdaq and E-mini S&P. As money moves out of equities due to increase in risk, the money tends to park itself in safer assets giving the DXY (Us Dollar) strength. The daily chart is sitting above the 50 EMA and at a key...

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Hello Fellow Trader! Equity markets under pressure as presidential debate has the world scratching their heads on what unfolded. We can expect money flowing back into the DXY for safety which will weaken all denominated pairs like NZD/USD. The daily chart is now consolidating below the multi-month trend line break where we can expect some further downside...

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Hello Fellow Trader! GBP/CAD Falling Through Trend Line targeting 1.7000 Breaking trend line now confirms we could see further drops to the 200 EMA. GBP/CAD may retest the trend line for optimal entry to short. Key Points: - Price holding above the 200 EMA - Price holding above the 50 EMA - Crossed daily trend line - Retest of trend line will need a bearish...

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Hello Fellow Trader! EUR/GBP sold off on daily chart and has hit major level 0.90500 forming support but with resistance caution above. A hold above flag break out is a great signal for continuation. The Fibonacci range has set some solid levels for targets with reclaim of EMAs as a positive signal for momentum. Key Points: - Price holding below the 200...

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Hello Fellow Trader! Daily chart providing signals the September 3.5% rise since 11th of September has now met with the open price of the month forming extremely potent resistance. Provides a great reward to risk ratio to trade GBP/AUD for short – term downside. Key Points: - Daily – Price moving into resistance and September open price 1.18235 - Daily – Above...

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Hello Fellow Trader! CAD/CHF has respect 0.69200 for all of August and September, touching on multiple occasions reversing for short periods. This was the September open candle zone. Price pierced through this major level and holding above forming a possible triangle / Flag continuation pattern for at least a short time advance to 0.7000. The Asian session is...

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Hello Fellow Traders! GBP/USD technical signals are starting to line up supporting the upside possibility. GBP/USD has sold off approximately 800 pips since the high made in September, and meeting with historical support zone clustering with the 61.8% Fibonacci from last major range and RSI divergence on the daily. Key Points: - Daily – Divergence between...

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Hello Fellow Trader! AUD/JPY has dropped 5.5% from August highs finding a price zone where major reversals have started. Also coincides with June close – July open price. Watching closely for trend line break and a hold above for confirmation to enter. Fundamentally it is quite difficult to go against the Japanese Yen for its haven qualities in global...

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Hello Fellow Trader! CHF/JPY has made 114.000 a potent level for change in price behavior. It also collides with the 33 RSI band which since August has been the true oversold support level. The base of a wedge provides us defined entry focus and stop levels we can hawk and enter at a a superior reward to risk ratio. IF: CHF/JPY fails 114.000, the next support...

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Hello Fellow Trader! CAD/NZD broke through a multi – month trend line and targeting at least 1.1500 Elliott Wave – CAD/NZD - Completing the B Wave of the possible ABC ZigZag or Wave 2. - Commencing the bare minimum wave C or extended impulse wave 3 to break A. Key Points: - Price below above the 200 EMA - Price holding above the 50 EMA - Fibonacci 78.6%...

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Hello Fellow Traders! The XJO (ASX200) has sold off from the peak made on August 25th following the SPX(US500) and Nasdaq during uncertain global times and Covid numbers starting to increase again in Europe. While the XJO continued to fall in the past 5 trading days, MSB has experienced supreme buying pressure continuing to retest $5.00. MSB is a Bio –...

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Hello Fellow Trader! The confirmation for this EUR/GBP continuation would be a solid close below the trend line, but for higher reward to risk ratios, candlestick reversals at the APEX are also desired. Wedge patterns are generally a sign of trend continuation when broken to the downside, and when found within bearish momentum trends, can become quite potent....

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Hello Fellow Trader! DXY strength, the FED indicating they will continue with pedal to the metal and hold rates at zero until labour market is back in full force and inflation recovers to 2%. The market turned straight to the DXY for strength and in turn all DXY denominated assets fell including BTC/USD. BTC/USD has appreciated for the last 2 weeks correcting...