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Confluence

AUDJPY: End of the Trend?4hr Time Frame: Reading price we can see that we are breaking back below our 76.500 monthly zone. If buyers are looking to hold momentum, we are going to need to see a break and retest above 76.500 for potential long opportunities to 77.400 and potentially 78.250. AUDJPY has created a huge impulse to the upside and has pulled back to create a double bottom formation. However, if price breaks back to 75.750, we must reevaluate price action. Due to the uncertainty of market fluidity, risk management is highly recommended.
by ChartAddicts
XAG/USD Silver AnalysisUS Markets are closed for Labor Day Holiday so there is not much happening today. Looking at Silver, we can see a Consolidation taking place after the big fall in metals last week. Sellers are in control today. The Confluence of Resistance around the 27.00 area was able to stop price from going up at the beginning of the London Session today. Weak Resistance at 27.00 and Pivot Point Resistance at 27.22 Chart Pattern formed: Rising Wedge (Bearish) H1, Rising Wedge (Bearish) H1 Confluence of Support: Verified Support at 26.00 area and Pivot Point Support S1 at 26.31 There is a Strong Confluence of Support around 26.00. This is the Sweet Spot..We have Four (4) types of Support in this area. Trendline Support: We have Trendline Support at 26.60 which is the Major Trendline from 28th July 2020 (The Red Trendline). Moving Average Support: H4 Chart: Price in between 100 SMA and 200 SMA (Buy Area). 200MA support is at 26.29 Pivot Point Support at 26.32 Verified Horizontal Support in the 25.90 - 26.00 area. Trade Call: Silver is still in a Bullish Movement since the 100MA and 200MA crossed over in April. We should be looking to buy in about 1-2 days from now when price reach the confluence of support. Buy when price is in between 25.98 - 26.37
FX:XAGUSDLong
by Benettel
#EUR/GBP AnalysisThe Banks and Institutions have placed Four Sell Orders in the past as we can see in the chart. There is a Strong Confluence of Resistance in the 0.8960 - 0.8975 area. Are the Banks preparing to place another Sell Order?? Price has been in a Descending Channel since 27th July. There is a Strong Confluence of Resistance around 0.8960. This is the Sweet Spot..🤗🤗 We have Four (4) types of resistance in this area. -38.2% Fibonacci Resistance at 0.8960 -Weak Horizontal Resistance at 0.8960 - 0.8975 -Pivot Point Resistance (R1) at 0.8960 -Trendline Resistance at 0.8970 Trade Idea First Move (Buy) Buy at 0.8900 and Join the Bulls in the retracement move to retest the Top of the Descending Channel. Target TP is 0.8970 Second Move (Sell) (Main Plan) This is my main plan and this should have the biggest reward/profit. After the Second Move, I will wait for price to get to the Sweet Spot at 0.8960 and then Sell. Target TP1 is at 0.8938 and Target TP2 is at 0.8900. Looking to sell when price gets to the Sweet Spot on the Chart with Final Target TP 0.8880 (Strong Support and Monthly Level) As usual we enter all trades with a tight stop loss to reduce the risk, in case the market changes direction. Cheers!!
by Benettel
2
USD/JPY Trade ReviewAs a Trader. I try to find the areas and key levels where the Institutions and the Big Players are planning their trades. It is not an easy job. I use Supply and Demand, Trend Analysis and Confluence to try to find those areas. If you can find those areas, you can make huge profits because you are on the right side of the Market. I posted the USD/JPY Analysis last week Tuesday. I was waiting for the Banks to put their next sell orders. If you looked at the chart, The Banks placed their 4th Sell Order on Friday at the Sweet Spot. Exactly as I predicted. All my three moves were 100% accurate and in profits..First move (Sell), Second move (Buy), Third move (Sell)..The third move was the main move..150 pips in profit!! Did you take this trade? I'm sure you are wondering if i can see the future..how did I manage to catch all the three moves? lol 😂😂😂 I cannot be right all the time..sometimes my analysis can be wrong, just like the NZD/JPY Analysis i posted last week. This is why you should always use a Stop loss. The banks wanted to put their 4th Sell Order in NZD/JPY, but the US Fed news on Thursday made them to change their mind and NZD/JPY went up. So i had to change my direction to BUY. This is the USD/JPY Trade (After).
Short
by Benettel