Traders, USOIL had a very good upward run and since it hit our target of 53.59 it has started to fall. This can fall a bit further. This is not a reversal. This is more like a correction on the previous move. There is head and shoulders pattern evolving which may work out. Also the price right now is in an FCP zone after completing the M FCP pattern (Fibonacci...
Traders, Dollar started to show little strength which showed up in USDCAD and other currency pairs too. All other asset classes such as Indices (SnP500, Dow Jones (US30), NASDAQ), Gold and Cryptos (Bitcoin etc.) started to show its impact. If the USdollar starts to gain strength it can reach 95/96 level but it may not be straight foward journey. So here are the...
Traders, Gold sell off quite a but after reaching an FCP Zone (Fibonacci Confluence Pattern) Zone which coincided with a good supply zone and an FCP W Pattern. Now gold is at a support level which if broken can create another sell off. Remember on monthly chart, there are more levels for it to reach. The major levels to watch out for are: 1878, 1856, 1800/1795,...
Traders, Dollar (DXY) has been like a sleeping giant. As mentioned in the weekly analysis, it is expected to finish this week as a bull candle but because past 2 months have been bearish and due to candle stick formation this month may end as a bearish candle. Nevertheless it has started to wake a bit so make sure that you pay attention to it if you are trading...
Traders, ERURUSD Fell From Monthly FCPZone and that we could see in the DXY (Dollar) strength. But as this pair has been in upward move for so long time, it is not going to simply fall down. Right now it is planning to consolidate and it is sitting on a major monthly Fibonacci support. There was a fake breakout but it recovered and now if this starts to move...
Traders, Bitcoin has finally started to take a little break. This break may or may not last as the history of this asset tells us. It just simply moves and moves. Now that it is taking a bit of the break, we may have a head and shoulders pattern forming. As we know that neckline has to be broken if this pattern to work. Rules: 1. Never trade too much 2. Never...
Traders, USDJPY has just completed an FCP (Fibonacci Confluence Pattern) and it is also being supported by VATA Moving Average. It has chances of falling. This can also give the required pull back for long a long trade Never trade without a confirmation to enter. ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading...
Traders, As DXY has been falling and eurusd has been rising up USDCHF has been going down to reflect the same. It right now in Monthly FCP zone but 0.87335 and 0.87289 are important levels as Fibonacci Confluence Pattern (FCP) Strategy. Look for daily time frame based confirmation if you are looking for long term corrective move. Let me know if you have any...
Traders, Gold is moving higher after breaking through the channel. Now it has reached a supply based FCP zone which can push it down or at least give it a little bit of break. So if you are looking for long then ideal situation will be a pullback and then continue with the uptrend. If you are looking for short term short position then based on some confirmation...
Traders, NASDAQ is falling from the FCP (Fibonacci Confluence Pattern) zone and can further down but because it came very close to 13000 level, it may go back up to test that. That is a string possibility. So if that happens we can look for long opportunities followed by short. In the comment section let me know if you have any questions on this. ✅ If you...
Traders, Nifty (Nifty 50) Index of India showed weakness around the the first FCP (Fibonacci Confluence Pattern) zone but pushed higher. It is still not looking strong right now for medium to long term. Having said that, do not fight the trend. Take profit profit but watch out for these zone if you are long on Nifty Index. If you are looking for short...
Traders, DXY (Dollar) is creating a bullish divergence on the relative strength index. DollarIndex is oversold anyway and can push it higher in 2021 up to 95 level or higher. Markets are by nature designed to create maximum pain/frustration and maximum euphoria. Once they reach they peaks, they tend to revert back to their real value or reversion to the mean as it...
Traders, On higher time frame the the gold is creating a flag pattern which if broken can take gold to new highs but at the moment it is stuck in an FCP (Fibonacci Confluence Zone) zone which has pushed the price down twice already. XAUUSD can breach this zone and go to the trend line which is also the upper part of the channel. If that happens then it can fall...
Traders, USDCAD has a potential to fall down a bit further to the FCP (Fibonacci Confluence Pattern) Zone. If it reaches there, there can be good opportunities for long. If you have a plan in place to short it until then, follow your plan. Make sure that you have proper risk management in place for this as we are closing 2020. Happy New Year ! ✅ If you found...
Traders, DXY is inside a higher time frame FCP Zone (Fibonacci Confluence Pattern) Zone and also a monthly demand zone. Another demand zone is just below. Dollar is expected to be bullish in coming months quite possibly starting in Jan 2021. However as Dec monthly candle was a string bearish one, it may not happen almost immediately in Jan 2021. So always wait for...
Traders, AUDUSD has reached the FCP zone that we identified on 18th of Dec. There is a smaller FCP zone now inside the bigger one which can push the price down. This has not been a straight forward journey but the zone is still valid. Again like other markets this can be risky so take extra care. ✅ If you found this idea useful, hit the like button, subscribe...
Traders, NZDUSD had a very good run but it is now reaching a crucial level where it can take a correction. 0.72115 is very important level which is inside both Monthly and Daily FCP Zones (Fibonacci Confluence Pattern Zones). However it may not reach that level as the pattern is almost complete. As the new month and new year is about to start, take extra care....
Traders, DXY has come back down to fill all left over gaps. There are few left above the current price but all lower gaps are filled. It is back in the FCP zone and could be forming a double bottom. Today's close and this week's close is important for USdollar for further price action. ✅ If you found this idea useful, hit the like button, subscribe and share it...