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USD/JPY - Bullish Trend ContinuationThis morning, the focus is on the Dollar-Yen pair. The bullish trend is evident across all timeframes. Yesterday, we observed a strong break of the reversal structure at 161.269 after reaching a momentum high of 161.95. This break is crucial for the continuation of the bullish trend. Following the break, a bullish pattern has formed, and the price has moved into the Fibonacci buy zones of the initial move. Given this setup, the high probability action is to buy or do nothing above 161.57. Stop Loss: 161.14 Target 1: 162.35 Always think in probabilities.
Long
by Charts247TradingAcademy
My Ultimate Gold Trading StrategyTrading with the Kill Zone: The Simple Xtrade Trading Strategy for Gold is a multi-timeframe approach designed to provide clear, actionable signals for trading GOLD (XAUUSD). This strategy leverages the strengths of different timeframes to identify trends, optimize entry points, and manage trades effectively. By combining signals from the 15-minute, and 2-minute charts, traders can achieve a balanced perspective that helps in making well-informed decisions.
EIGHTCAP:XAUUSD
by Simple_Xtrade
GBPUSD - Strong Rally Above 1.2675The GBPUSD has traded above the Weekly Key Price of 1.2675, establishing an uptrend in the 15-minute timeframe. Although the weekly, daily, 4-hour, and 1-hour timeframes are bearish, we focus on trading what we observe in the current timeframe. With the price trading above 1.2675 and a bullish wave structure, our action is to either buy or remain on the sidelines as long as the price stays above this key level. Buy Entry: 1.2385 Technical Stop Loss: 1.2665 Key Level Stop: Below 1.2675 Always think in probabilities.
Long
by Charts247TradingAcademy
3
Intraday Trend Analysis - CADJPY, GBPUSD & AUDUSDToday, we're analysing CADJPY, GBPUSD, and AUDUSD. Key Note: Price is the leading indicator and reflects trader perception. We use price structures/wave structures to determine high probability price directions in the short, medium, and long term. CADJPY: Bullish trend continuation after a structural reversal. Look to buy after every pullback above 117.50. GBPUSD: Intraday downtrend. Strong momentum high yesterday. Sharp rejection during the New York session. Expect price to trade below 1.2620 after a correction. AUDUSD: Strong downtrend. Directional bearish wave structure. Look for a correction to break above wave structure 4 before shorting. High probability of a new momentum low below today's current low.
by Charts247TradingAcademy
1
Forex Price analysis - GU, AU, UC, UJ and CJWelcome to this week's Forex Price Analysis for the week starting June 30, 2024. We're analysing GBPUSD, AUDUSD, USDCAD, USDJPY, and CADJPY. GBPUSD: The bullish wave structure is broken. High probability sell at 1.2654 targeting 1.2612. AUDUSD: A bearish wave suggests a buy at the low. A strong rally on Friday. Prefer buying after a correction to the 0.6640 buy zone. USDCAD: A bearish move on Friday indicates a revisit to 1.3734. Expect lower prices to 1.3627 before buying. USDJPY: Strong uptrend last week. Bullish wave failed; trend change pattern with a corrective wave in Fibonacci sell-zone. Trade below 160.70 suggests further decline. A break above 160.96 negates selling. CADJPY: Similar to USDJPY. Potential downside after Thursday's high. A strong break of the high on Friday suggests an uptrend continuation. A break below 117.43 indicates a selling opportunity after a pullback.
by Charts247TradingAcademy
Wyckoff Bullish Patterns - Dollar getting stronger! Easy MoneyICEUS:DX1! Dollar getting stronger on daily and weekly chart! Wyckoff Wave Indicator shows the power of buyers who are taking control. How Wyckoff Wave Indicator works? The Wyckoff Wave Indicator and the Weis Wave Indicator are both technical analysis tools derived from the principles of Richard D. Wyckoff, a pioneer in the field of market analysis. Here’s a breakdown of each: Wyckoff Wave Indicator The Wyckoff Wave Indicator is designed to track the cumulative volume flow of the market. It helps traders understand the underlying strength or weakness by showing the overall trend of buying and selling pressure. The indicator accumulates volume with price movement to depict the market's overall sentiment. Key features include: Volume Analysis: It considers the volume associated with price movements, indicating whether the market is being driven by strong buying or selling. Trend Identification: It helps in identifying the primary trend of the market, whether it's bullish, bearish, or sideways. Divergence Signals: It can show divergences between price movements and volume flow, providing potential reversal signals. Weis Wave Indicator The Weis Wave Indicator is a more modern adaptation of Wyckoff's principles, developed by David Weis. It simplifies volume analysis by plotting cumulative volume as waves, making it easier to visualize the flow of buying and selling pressure. Key features include: Wave Calculation: It aggregates volume over price waves, making it easier to see the ebb and flow of market pressure. Wave Counts: By tracking the volume associated with each wave, traders can see whether buyers or sellers are dominating. Market Structure: It helps in understanding the market structure by breaking down movements into distinct waves, each associated with specific volume patterns. Comparison Purpose: Both indicators aim to analyze volume in relation to price movements, providing insights into market strength and potential reversals. Visualization: The Wyckoff Wave Indicator typically presents cumulative volume in a straightforward manner, while the Weis Wave Indicator uses wave patterns for a more intuitive visual representation. Application: Both indicators are used in conjunction with other Wyckoff principles and tools to develop a comprehensive market analysis strategy. Usage in Trading Identify Trends: Both indicators help in determining the dominant market trend, which is crucial for making informed trading decisions. Spot Reversals: By analyzing volume flow, traders can spot potential reversals ahead of time, improving their entry and exit points. Confirm Breakouts: The indicators can confirm the validity of breakouts or breakdowns by showing whether there is sufficient volume to support the move. Tools and Platforms VolumeDayTrader offers script of such indicators on TradingView. For more details check our profile or DM us.
NASDAQ:ALTLong
by VolumeDayTrader
Bitcoin Live Trading - Price Action and Volume Patterns Volume patterns in Bitcoin live trading can provide valuable insights into market trends and potential price movements. Here are some key volume patterns to watch: 1. **High Volume with Price Increase**: - Indicates strong buying interest and can signify the start of an uptrend. - Often accompanied by bullish sentiment. 2. **High Volume with Price Decrease**: - Suggests significant selling pressure. - Can indicate the beginning of a downtrend or a correction in the market. 3. **Low Volume with Price Increase**: - May indicate a weak rally with less conviction among buyers. - Often a sign of an impending reversal or correction. 4. **Low Volume with Price Decrease**: - Indicates a lack of selling pressure. - May signal a potential bottoming out and possible price reversal. 5. **Volume Spikes**: - Sudden increases in volume can indicate major news or events impacting the market. - Important to analyze the context and price movement alongside volume spikes. 6. **Volume Divergence**: - When price moves in one direction but volume moves in the opposite direction. - Often signals a potential reversal in the price trend. 7. **Volume Trends**: - Consistent increase in volume over time can signal strengthening trend. - Consistent decrease in volume can indicate a weakening trend. Understanding these patterns can help traders make more informed decisions. Additionally, combining volume analysis with other technical indicators can provide a more comprehensive view of the market. Do you have any specific patterns or scenarios you're interested in exploring further? Follow Us for more insights!
CME:BTC1!Short
by VolumeDayTrader
EUR/USD Bullish Setup and Key LevelsThe low of June 14, 2024, created a Trend Changing Pattern making a high of 1.07614. We then saw a discount towards the low but failed to make a new low. On Monday 24, June 2024 we saw a Bullish break of Structure making a high of 1.07465. The pullback low of 1.06836 before that bullish move is the Key price that gives us a high probability of bullish activity as long as the price stays above 1.06836. Based on the price information, our high probability trade is to buy a 15Mins close above 1.06994. Stop Loss: 1.06836 Target 1: 1.07465 Target 2: 1.07614 Think in Probability: As traders, you must be careful to align your behavior and expectations with the following principles: - Anything can happen - An EDGE is only an indication of one thing happening over another - There is a random distribution between wins and losses - You don't need to know what will happen in order to make money in trading.
Long
by Charts247TradingAcademy
1
Simple Xtrade 2 minute Scalping Strategy for GoldThe Simple Xtrade 2-minute scalping strategy for Gold focuses on capturing short-term price movements using a combination of trend analysis, high-low signals, and support and resistance levels, while also considering overbought and oversold conditions. Here’s a breakdown of the strategy: 🔰 Sell Entry Condition: ✅ Enter the SELL position when a HIGH signal occurs and the Simple Xtrade SR reaches the Resistance level (Overbought) 🔰 Buy Entry Condition: ✅ Enter the BUY position when a LOW signal occurs and the Simple Xtrade SR reaches the Support level (Oversold) Timeframe and Instrument: Timeframe: 2-minute charts Instrument: Gold (XAU/USD) Trend Analysis: Identify the overall trend using simple moving averages (SMA) or trendlines on the 2-minute chart. Look for consistent upward or downward movements to determine the direction to trade. High-Low Signals: Monitor the high and low points of the price within the 2-minute timeframe. Use these points to gauge potential entry and exit points. For example, consider entering a long position near the recent low if the trend is upward, or entering a short position near the recent high if the trend is downward. Support and Resistance Levels: Plot key support and resistance levels based on previous price action, especially significant swing highs and lows. These levels act as potential entry or exit points. For instance, consider buying near a strong support level during an uptrend or selling near a resistance level during a downtrend. Overbought and Oversold Conditions: Use indicators like the Relative Strength Index (RSI) or Stochastic Oscillator to identify overbought and oversold conditions within the 2-minute timeframe. Execution: Once all criteria align (trend direction, high-low signals, support/resistance levels, and overbought/oversold conditions), execute trades with precise entry and exit points. Manage risk carefully by setting stop-loss orders to protect capital and trailing stops to secure profits as the price moves favorably. Monitoring and Adjustment: Continuously monitor the trade as the 2-minute candlesticks form. Adjust stop-loss levels and take-profit targets based on new price action and emerging trends. This scalping strategy requires rapid decision-making and disciplined execution due to the short timeframe. Traders should practice this strategy in a demo account to refine their skills before applying it with real capital, ensuring they can effectively manage the fast-paced nature of 2-minute trading intervals.
EIGHTCAP:XAUUSD
by Simple_Xtrade
Gold trading - short or none trade. Sallers dominance Futures contracts for gold are under selling pressure. Analyzing the cumulative volume with Wyckoff Wave, it is evident that the selling pressure is strong enough for gold to reach the last support level. In my opinion, it's either a Short position or no trades at all. ChatGPT Wyckoff Wave Volume (Cumulative Volume): Cumulative volume analysis is a market analysis method proposed by Richard D. Wyckoff. It involves tracking the total trading volume over a specific time period and interpreting whether the volume is increasing (indicating strength of trend) or decreasing (indicating weakening of trend). Selling Pressure on the Gold Market: You argue that the Wyckoff Wave cumulative volume indicates strong selling pressure in the gold market. This suggests a high volume of selling transactions, which may imply a downward trend in gold prices. Support Level: You suggest that volume analysis indicates gold could fall to the last support level. Support levels are historically price points that attract buying interest and can halt price declines, unless breached. Your Market Approach: Your conclusion is that due to strong selling pressure, one should consider a short position on gold or refrain from trading altogether to avoid risk. For more details visit volumedaytrader.com
COMEX:GC1!
by VolumeDayTrader