In this article, we will discuss a proven price action based way to identify the market trend . ❗️And let me note, before we start, that no matter what strategy do you use in your trading, you should always know where the market is going and what is the current trend . Your judgement should be based on strict and objective rules that proved its...
WTI Crude Oil is trading in a bearish trend on a daily. For the entire month of May, the market is consolidating within a horizontal range. I believe that a bearish trend will continue after a violation of the support of the range. I am waiting for its breakout to sell the market. A daily candle close below 75.5 will confirm a violation. A bearish wave will...
GBPJPY closed this week, approaching the year's high. Because the trend is strongly bullish, probabilities will be high that the market will keep going higher. Next week, wait for a bullish breakout of the underlined blue area. A daily candle close above 200.75 will confirm the violation. A bullish continuation will be expected then. ❤️Please, support my...
GBPCHF is trading in a strong bullish trend on a daily. After the price updated a higher high, the market started a correctional movement. The pair is currently approaching a significant support cluster. I believe that probabilities are high that the next bullish wave will initiate from that. We can expect a growth at least to 1.16 ❤️Please, support my...
Here is my latest structure analysis and important key levels to focus on and trade on Gold. Support 1: 2322 - 2328 area Support 2: 2303 - 2308 area Support 3: 2266 - 2286 area Resistance 1: 2361 - 2364 area Resistance 2: 2426 - 2450 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
CADJPY looks very strong, after a test of a key support. The price formed a double bottom pattern and broke its neckline. With a high probability, the market will reach 115.0 level soon. ❤️Please, support my work with like, thank you!❤️
NZDJPY formed a nice cup & handle formation on a strong horizontal support on an hourly time frame. I made a decision to buy the pair after a breakout of the neckline of the pattern. I expect a growth now at least to 96.2 ❤️Please, support my work with like, thank you!❤️
Dollar Index nicely respected a key daily horizontal resistance. I see a double top formation on an hourly time frame and a confirmed violation of its neckline. I think that the market may drop at least to 104.43 before the news. ❤️Please, support my work with like, thank you!❤️
USDCHF is currently testing a key daily horizontal support. To buy this structure with a confirmation, pay attention to an expanding wedge pattern on a 4H time frame. Your confirmation to buy the pair will be a bullish breakout of the resistance line of the wedge. A bullish continuation will be expected at least to 0.9155 then. If the price drops below the...
Smart Money Concepts can be applied for the identification of trend reversal in Forex and Gold trading. In this article, we will discuss what is an inducement and a trap in SMC . And how to apply them to spot an accurate trading signal. We will study the important theory and go through real market examples on XAUUSD chart. Imagine that there is a...
Crude Oil may drop after a potential bullish trap: we see a bullish inducement and a violation of a key horizontal resistance, followed by a strong bearish imbalance. I think that the market may drop at least to 78.8 level. ❤️Please, support my work with like, thank you!❤️
Update for USDJPY. The pair perfectly violated a resistance line of a horizontal range on a 4H time frame, after a retest of a key daily support. I think that the pair will keep growing today. Next goal - 157.5 ❤️Please, support my work with like, thank you!❤️
Here is my latest structure analysis and important key levels to watch on USDCAD. Resistance 1: 1.373 - 1.376 area Resistance 2: 1.377 - 1.380 area Resistance 3: 1.383 - 1.384 area Support 1: 1.359 - 1.360 area Support 2: 1.354 - 1.357 area Support 3: 1.342 - 1.349 area Consider these structures for pullback/breakout trading. ❤️Please, support my work...
Looks like Dollar Index completed the correctional movement and ready to go down again. I see a bearish flag pattern with a confirmed violation of its support on 4H. The market may reach 104.2 soon. ❤️Please, support my work with like, thank you!❤️
CADJPY broke and closed above a key daily structure resistance. It is an important sign of strength of the buyers. Bullish rally will most likely continue. Next goal - 115.8 ❤️Please, support my work with like, thank you!❤️
USDJPY broke and closed above a key horizontal daily resistance last week. After a breakout, the market retested a broken structure and started to consolidate. I see a horizontal trading range on a 4h time frame. To buy the market with a confirmation, I am looking for a bullish breakout - a candle close above the resistance of the range. It will give me a...
S&P500 index recently updated the all-time high. After a violation, the previous ATH turned into support. The market retested that and positively reacted. I believe that a bullish trend will continue. The market may keep growing to 5380. ❤️Please, support my work with like, thank you!❤️
I think that GBPUSD has a nice potential to go up this week. I see a confirmed violation of a key daily resistance and a positive, bullish reaction to that after its retest. Next resistance is 1.278 ❤️Please, support my work with like, thank you!❤️