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USDCAD [D] Technical Analysis & Top-Down [BUY] Good Evening People... I am FX_HOLE and this is my first published analysis - I have been trading for around 2 years now. Today, I will be providing a brief Technical Analysis for the USDCAD I will begin with a ' Top-Down ' Analysis ... As you can see from the Weekly Timeframe, I have identified a range that has been in place since mid 2015 Over this period of time, we can see that price has tested the resistance and support on a number of occasions Most recently [ July '21 ] - The support of the range has been tested and following this the market bounced and has been forming higher-highs/lows ever since Bringing us to today and the section of the chart I will look at more closely on the daily timeframe Moving on to the Daily Timeframe... Using the idea from the Weekly Timeframe of the Higher Highs/Lows - It has been possible to identify an Ascending Wedge Pattern Upon marking out the wedge pattern, we can see that price has approached the support of the wedge and rejected a further move below Furthermore, there is additional horizontal support - This providing added confluence to any trade set-up [ @1.2500 ] Finally, upon todays market close, we can see that the Bullish Pin Bar has been formed - Again, providing further confluence to the trade set-up So, personally I have set a Buy-Order @50% FIB retracement of the Pin Bar Additionally, I have marked out initial Profit Targets which are a little adventurous Although, I may be looking to scale in if we reach my initial target @1.260 NEWS/DATA - There are some orange USD Data Releases coming up tomorrow, but hopefully the order will be triggered throughout the Asian session and make a little progress. This will be monitored... Well that's all for today folks - Thanks for tuning in Enjoy!
Long
by fxhole_
GOLD on a potential bull move 🦐GOLD on the daily chart is testing a resistance level at the 1830 area with last week's candle closure that shows some bullish price action on the metal compartment. Silver and Platinum moved higher too and the gold correction phase could be to an end. The price in fact is moving into a weekly descending channel starting from the all-time highs above 2000 reached in August 2020. How can we approach this scenario? The bull pressure on the confluence zone between the descending trendline (red) and the daily resistance (blue) can increase during this week and a break above that area will be a sign of strength. We will monitor the price after the break and consider a long order if our Academy rules will be satisfied. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any questions. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
OANDA:XAUUSDLong
by InkyGrip
9
Use proper risk managementStop loss - @1.12530 Take profit - @1.1350 Entry - @1.9.9.1.x.x.x.1.3.0.4 This is a pretty straight forward trade but straightforward hasn't really been the strong suit of prices lately due to inflation but fundamentals support this trade so we'll see. Reason for this trade 1. Strong fundamentals. 2. Strong confluences (trendline, H4 support). 3. The action price is currently taking in M15 is kind of a rejection of the trendline. 4. Inverse head and shoulders pattern forming, it's remaining the last shoulder which should take price to our target. All I'm waiting for now is a "W" pattern and divergence in M15 and hopefully in H1 as well !.
Long
by LaBOSS_FX
2
I grab liquidities for a living lolololDivergence is no joke at all...I spotted divergence in M5 and I had sell positions stacked just above the 34600 level and I saw telegram message from a group that called buys, they went all in, I mean like all in and once there was enough volume in the market, price started selling and voila, it hit my target however little it was and for that group, I believe it hit their stop losses 🛑 and that was that !. Learn to trade divergences, learn to spot it at overbought and oversold levels in any of your technical indicators, it will be very helpful when making trading decisions !.
U
by LaBOSS_FX
GBPJPY [GJ] - DOUBLE-TOP @CONFLUENCE OF BEARISH TRENDLINE Back again people... Its a busy day :I This afternoon I have been looking @ GJ As always, I will kick us off with a Top-Down Analysis I have identified a Bearish Trendline that is respected on both the Monthly & Weekly Timeframe If we look at the Weekly - We can see that there is a Horizontal Resistance that meets the Bearish Trendline @158.00 [ Nice bit of Confluence there ] Furthermore and prior to this coming together, the market has tested the Horizontal Resistance and then fell away This then returning to the level @158.00 and forming a Double-Top At this point I am considering Shorts Moving on to the Daily timeframe ... If we look on the Daily - We can see that the Double-Top is respected at the confluence of the aforementioned levels @158.00 Furthermore, I have marked out a Bullish Trendline - Currently, the market is heading south towards this S upport So, Initial thoughts are - If price breaks below the confluence of both the Support of the Bullish Trendline & Horizontal Level @158.38 - I will the looking for Sells upon a Retest of this confluence as new Resistance Also, if this materialises - We should still look further south for a further drop at the neckline of the Double-Top @149.2 zone - Which would be nice, yeah? Alternatively, a Breakout above the Double-Top may present Long opportunities Will keep my eye on this and provide updates as and when required Thanks for tuning in people - Peace Out!
by fxhole_
AUDUSD - DESCENDING PARALLEL CHANNEL Good Afternoon People... Today, I will be providing Technical Analysis for the AUDUSD To begin I would like to provide a brief 'Top-Down' from the Monthly through to the H4 Although, being new to TradingView It is not possible for me to provide the necessary chart images for all the timeframes utilised. Currently, I am only permitted to provide 1 chart image - Therefore, I will provide the Daily as I execute the majority of trades on this timeframe. So, I am afraid you will have to use your imagination for the other timeframes - Unless you message me and I would be more than happy to provide :) Now that's out the way - Lets get stuck in... Looking at the Monthly Timeframe, I have marked out a Bearish Trendline - This connects the 2 highs This particular Trendline is also respected on the Weekly Timeframe Moving on to the Weekly - I have identified a Double-Top What is quite compelling is that, this Double-Top met with the aforementioned Bearish Trendline and Horizontal Resistance Now that's the type of confluence us traders are looking for right? So, yeah - We have that, and the AUDUSD dropped in style - Printing Lower Lows/Highs for several weeks Furthermore, we can see that price pushed through the 0.726 support zone and last week returned to the zone and rested with as Pin-Bar With this bearish connotation in mind - I moved down to the Daily Timeframe and began to look for selling opportunities Instantly, I identified a Descending Channel Following this, I marked out additional S&R - identifying the confluence of the support @0.699 Price has recently bounced from this and began heading north This being marked out as an Ascending Channel/Bear Flag - Which is also respected on the H4 Now this is where it becomes interesting and may I say exciting .... For me - I have my eyes on the confluence of the multiple resistance at work @1.7316 [ Resistance of Horizontal Level, Descending Channel, Ascending Channel and not to forget the Weekly Pin ] This is where I will be looking for short opportunities in the near future... Alternatively - If price breaks down below the Ascending Channel/Bear Flag Support - I will still be looking for price to return to the confluence @1.7316 zone Well that's about it for this one guys - I will be providing updates And, if you need the Monthly, Weekly & H4 timeframe images - Let me know or just leave a comment for them and ill see what I can do Thanks for tuning in - Its been a pleasure
Short
by fxhole_
2
My new favorite pair !.All EURJPY asks of you is that you be patient with its price because once it hits major supply and demand zones or as you know them, support and resistance but in this case, we are dealing with support !. Hop on this sweet 50 pips buy trade with me, i have been monitoring it since yesterday and it just hit my zone, i have been scalping 10-20 pips off of it because it hasn't started its major buy move yet but since it's already in it's zone, you can start buying to 131.30 or thereabout.
Long
by LaBOSS_FX
3
ROSEUSDT - Perspective of a Value BuyerRunning through a value buy scenario on ROSE if macro sets up for further correction. Spot accumulation setup, no leverage. Shoutout to @thecryptosniper for HVF theory, elements of which are used in my analysis (grindline theory, legacy HVF levels as KLoS). Note this is not *pure* HVF theory (as current ROSEUSDT pattern is not compliant) which would give us proper and specific entry, exit and targets to allow leveraged scaling, rather than just a general accumulation zone as indicated here. Tools used: Volume by Price (VBP): identifies price control areas which act as support/resistance, and likewise "pockets" where price is likely to slide through without much trouble. Key Levels of Significance (KLoS): Legacy inflection points, points of control, the like. Point of Control (PoC): Axis of VBP fluctuations - price will have many interactions on these, and they often serve as support/resistance later. Grindline: Typically called "trend line" but implications are more precisely defined in HVF theory. Fibonacci Retracement: Voodoo magic. Current fib retrace is taken from recent ATH in November 2021 to the low in June 2021 correction. Legacy PoC still dominant: There is a value buy zone sitting within the 0.18-0.21 range via a confluence of indicators. Legacy PoC has re-affirmed around the 0.20 level since the conclusion of the summer correction. Local PoC has, within the past week, shifted from the 0.20 level to just above the 0.5 fib, showing further strength (and potentially signalling that 0.20 may not be revisited). The 0.20 PoC level sits on top of the 0.382 fib and coincides with a prior HVF. Barring the start of a crypto bear market, the zone around the 0.20 PoC is likely the limit of discount we can potentially see within the coming weeks. For a return to the zone around 0.20 to occur, another downleg in BTCUSDT to the 42k-43k range is likely required (and at present, still within the realm of possibility). Otherwise, the local PoC should be treated as "best value" in the context of a continuing bull market.
Long
by Derivati-Capital
LCID Swing Trade Idea - LongThe EV sector, as always has been hot and people are looking to make Tesla kind-of-gains, and so people are looking at alternatives / competitors. 39 -> 55 is my long, and depending on how it holds at that price level, may look to go short via put to ride a possible strong rejection at that price level. Technicals: -Swing low to high (fib) -Confluence at high (volume profile and resistance) -Fractals bullish -About to cross 200 ema (1 hr view) This is my first published trade idea. Please let me know what you think!
NASDAQ:LCID
by ownas