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Confluencetrading

GOLD Clean ViewGold looks still very weak to break 1912 key level, it has to find the right liquidity needed to break thru that level. Mulitiple wicks on 1912. Trendline has been touched one more time and probablly will hold. On daily TF, not a single body candle has engulfed previous wicks. Personally expecting gold to push up through at least two previous Lower Highs and prolly form a double top before finding the right momentum to break 1912 key level and the significant trendline to look for Higher Lows to be formed on larger Time Frames.
OANDA:XAUUSDLong
by theforexdaddy
2
Bitcoin Swing ShortAfter completing a head and shoulder pattern on the daily time frame; and breaking below the neck line of the pattern and re-testing said neck line, I expect the pair to continue downward from the zone, after completing what I believe is a manipulation. Target is taken from previous resistance (which should now turn support) on weekly time frame; this zone is around the 61.8% Fibonacci retracement taken on the weekly impulse; and thus forms a good confluence area for a swing target.
BITSTAMP:BTCUSDShort
by Koyejo
USDCHF Inverted Cup&Handle check my previous ideasHi friends hit the like/follow button to motivate me to continue. Check my previous ideas to keep up to date. We went over USDJPY and EURUSD that have move similar, now USDCHF is the pair they’re opposite trend. Now this is not always 100% due to volatility and Fundamentals impact. We can observe the inverted cup and handle was respected, also we can see how the trend was opposite from EURUSD and USDJPY. We can expect further downtrend to support area. But before the handle in this case since it is inverted, can be expected to uptrend to Fibonacci levels before it pushes down. If it breaks further confirmations would be necessary to determine the next position, for now we can continue to see downtrend to support area. Be ready if the time trend bounces from support back to fibonacci levels. What are the strategies I use? A combination of strategies: Confluence; Pair Correlation; Naked Forex. The tools and indicators I used: SMAs;Pivot Standard;Fibonacci Retracement tool.
Short
by Cangaceiro
1
EURUSD Cup and Handle,Correlation USDJPYHi again, hit that like/follow button to motivate me. As we can see EURUSD is in a retracement phase(handle) confirmed downtrend. Testing support and resistance. Respecting Fibonacci golden retracement levels at 50/61%. By using confluence and pair correlation strategies, please refer to my linked USDJPY Idea to understand fully the resemblance here. This is why it is important to compare and contrast pairs. In this case EURUSD and USDJPY will move similarly while USDCHF is expected to contrast them.
by Cangaceiro
XAUUSD SHORT - Patiently and Carefully Look for EntryAfter completing an impulse and correction on the daily chart, I expect this pair to make another impulse and create a lower low. Considering that the pair is currently inside a resistance area with strong market structure and Fibonacci confluence, it is a good time to monitor price action development on lower time frames to find a good entry. A good swing target would be the 127.2% fib extension of the daily retracement. It is very important to be patient and careful with gold, it can be mercilessly manipulated .
FOREXCOM:XAUUSDShort
by Koyejo
SGDJPY SWING LONGWith this pair having completed an impulse and correction on the weekly chart, we can look forward to the next swing leg in the market; which should be an ATTEMPT by the pair to create another impulse and a higher high on the weekly chart. On the daily chart, this pair has just broken (and closed) above previous resistance; thus presenting a good opportunity to enter a long on this pair. If we get a retracement to test this area (which also has a confluence of the daily 61.8% fib, taken from the low of the circled red candle), it should act as support for the pair, then we can be searching for entries on lower time frames while the pair is in and around the area.
Long
by Koyejo
USDJPY Cup&Handle updateOANDA:USDJPY Hit the like/follow button to show support my friends. This is just am update, please read the full analysis. If you’re following along check my full analysis I’ll link it to this one, the handle is respecting the downtrend as you see it hit the 38% of the Fibonacci retracement level. Lets see if this will aim for resistance or will give a deeper pullback. List of my confirmations: Price correlation is being respected: Nikkei; EURUSD; and USDCHF. Confluence zones along: SMAs; Trendlines; Fibonacci; Pivot Standards; Candlesticks; Support and Resistance.
Long
by Cangaceiro
USDJPY Cup and Handle Swing TradeHello again don’t forget to hit the like/follow button to show support and motivate me to continue and check my previous ideas. Cup & Handle- the handle and highlighted price rejection from Resistance key level, show possible downtrend to Fibonacci retracement levels .This downtrend can take from days to weeks before moving up, so patience. Once that pullback is completed we can expect uptrend towards resistance levels again since this pattern is considered bullish. It is best to wait for confirmation before taking any direction here. It is also important to observe that the simple moving averages 21/50/200 are below the candlesticks, showing another sign of possible uptrend. Currency correlated pairs to compare and contrast: Nikkei; EURUSD; USDCHF. Trade responsibly and remember this is for educational purposes and not financial advice.
Long
by Cangaceiro