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Confluence

EURUSD | PERSPECTIVE FOR THE NEW WEEKRunning 90pips in the opposite direction of my last speculation; The euro surged to a new high against the dollar on Friday and looked to close above a key level that could signal further gains amid optimism about stimulus and President Trump’s recovery. Tendency: Uptrend (Bullish) Structure: Trendline | Breakout | Supply & Demand Observation: i. Bullish Trendline on the chart guides price from below through Key level @ $1.17500 to close above last week. ii. Looking forward to a correction followed by a trend continuation. Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward: 1:5 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
EUR/GBP Quick AnalysisThis pair has formed a "Falling Wedge" Pattern. The retracement move has been continued for about 3 weeks now. Now, Buyers should be preparing to take control again. We have a Fresh Demand Zone at the 0.9000 area which should contain some Unfilled Buy Orders. The Market created a Fakeout pattern to trap Buyers at the FakeOut Zone line. The fake support at S1 and S2. All Supply and Demand Traders know that every Gap must be filled. Now if you look at the Chart, you can see that the Price has now gone to fill the Void. We have a Very Strong Confluence of Support at the 0.9015 - 0.9040 Area (Five Types of Support) Strong Horizontal Support Trendline Support (Bottom of the Falling Wedge) 38.2% Fibonacci Support Level (On the Daily Chart) Pivot Point Support 2 (S2) 61.8% Fibonacci Support Level (H4 Chart) at 0.9030 The Trading Environment is a Trending Market. We also have an Harmonic Pattern that has been formed on this H4 Chart. The Harmonic Pattern formed is the Bearish Crab. This Pattern is also telling us to buy at 0.9033. More Confirmation!! Five Types of Support and an Harmonic Pattern!! We have a High Probability Setup for a nice Buy Trade!! As usual we enter with a tight stop loss to reduce our risk, in case the market reverses and changes direction. Don't forget to use good risk management too. Cheers!!
Long
by Benettel
2
EUR/AUD Quick AnalysisThis pair is in a Downtrend forming a Bearish Expanding Channel. The Uptrend has ended long time ago and now Sellers are in control of the this pair. The next Demand Level of Buyers is at the Horizontal Support. This area has been tested only once, so it is a fresh buying level. We also have a very Strong Confluence of Support in the Green Circle which means there could be a lot of Unfilled Buy Orders in this area. Strong Confluence of Support (Five Types of Support): 61.8% Fibonacci Support Level on H4 Chart 61.8% Fibonacci Support Level on H1 Chart Trendline Support (Bottom of Channel) Strong Horizontal Support Pivot Point Support 2 (S2) We should prepare to buy when price gets to our Buy Area (The Green Circle in the Chart).
Long
by Benettel
EURUSD just hit this weeks high 1.17400 (Idea)I drew this up last night thinking it would happen during the london session. But after today's confluence of the bullish day trade reached it's pivot point was the exact same Weekly Bearish Omptimal trade entry. Todays Bull trade, entry at 1.6940 was the 62% retracement around 8:30 A.M. Eastern time. That same fibonacci's pivot point meets the the 70.5 percent retracement from last weeks swing high and low. Todays Bull trade The Zone I drew Up last night Confluence of Both Fib Levels In the main window is the weekly bearish trade. You still have time to enter.
Short
by BodiesXWix
AUD/USD Quick Analysis (Supply and Demand)The Price is now compressing down slowly to the Demand Level as you can see in the Chart. The Fake Support at the Fake Out Zone has been broken by Sellers. This Fake Support was created by the Market and tested two times, at S1 and S2. The Banks and the big Institutions are preparing to clear the lows and the stop loss of retail traders who are in Buys. After this, a lot of traders will join the sell mood and start selling. The Market Manipulation has already started. All Supply and Demand Traders know that every gap or void must be filled. We have a very Strong Confluence of Support in the 0.6930 - 0.6990 area. This is the real support. Our Buy Area is the Green Circle in the Chart. So we will set our Pending Order and wait for price to get there..🙏🙏 Confluence of Support (Three Types of Supports): Weak Horizontal Support at 0.6960 - 0.6970 Pivot Point Support 3 (S3) at 0.6967 23.6% Fibonacci Support Level (H1 Chart) at 0.6965
Long
by Benettel