GBP USD following the Australian dollar. We are looking for this to continue bearish here we have clear structural breaks on the larger time frame. We have clear areas of supply above as well as filling the short-term fair value gaps and imbalances. We are expecting this bearish movement to continue to our lower target which is the previous low created.
A pretty...
So we're back again for another AUDUSD breakdown. Following the idea posted last Sunday, we had some amazing bearish movements. CPI caused a slight deviation with our supply above, but held overall and delivered price lower.
Coming into this week, we're looking at a pretty similar scenario. Price has broken down and left to clear areas one it is sitting in...
Hello,Traders!
USD-JPY is trading below the
Falling resistance in a downtrend
So we are bearish biased
And a move down
Is to be expected
Sell!
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The Dollar remains relatively firm and resilient given a loss of safe-haven status or less demand amidst a fragile recovery in risk sentiment, month end portfolio rebalancing and positioning ahead of next week’s US Presidential Election. However, the index is back below 94.000 and Thursday’s 94.105 high within a 93.983-762 range as several major counterparts claw...
Daily Support created the illusion for people to go long, the stop losses just below.
Remember if you buy, your stop loss is a sell. You SELL your BUY position at a worse price!
China and Australia's economies are very tied together, due to the corona outbreak the AUD is tanking.
This added with the fuel from all the stop losses below the daily resistance zone...
Got to see what both sides of the coin look like.
if this was the correct pattern, we could get 8800-9k or we could fake break up and drop.
We will see soon enough how this plays out.
If this plays out, you better come give me a like for charting the trend you didn't want to.
WEEKLY:
- possible retest of the trendline before further downside
- pair bounce on trendline twice (yellow sphere), thereafter, pair broke out (pink sphere).
- there could be a possible short opportunity if pair rejects the ascending trendline
- pair could spike to the 100% fib before continuing its downward mvnt
INVALID IF:
- weekly closure above the...
Idea - Gold 4h Short term bias down, following blue line trend wedge short.
Please share, comment or add your opinion. Thank you, Nath
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This is a much longer term outlook on GBPNZD. As you can see on a DAILY time frame, price has been respecting the channel but in the past few weeks has been trying to breakout to the downside.
Looking at things from a technical perspective, I see the downside pressure winning this tug of war and taking price to the 1.7500 region.
Although, when you factor in...
SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1-2 days
Actions on -
A – Activating Event
Market will meet resistance in zone @144.66 - .... and fall to the @141.200. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 141.400
...
This is not a signal but expecting more downside on GJ despite the earlier bb% break's long favour. Current yen-strenght and on 3m projections a 1.618 confluence? Good R2R
Have you ever taken a chart and looked at it from the flip-side?
Why would you do that? To avoid bias. There is a long bias and a short bias. We all have biases, but just need to confirm it by a simple test. Plot a chart of SYM and then plot the inverse of the chart next to it by using 100/SYM. You can make the numerator any size you want to get the price...
