Gold Long idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Ranging Trade scenario 1: Gold is still ranging on the 4hour but atleast we know what we need to see in order to enter a trade. Ideally, we see price action assume the overall bullish trend and break the range. Look for a higher low above the range to enter long. Look to target toward...
EURJPY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Ranging Trade scenario 1: Overall EJ is bullish on the higher timeframes but we can clearly see price action is in a 4hour range at the moment. Currently there is no trend on the 4hour so we will have to wait for one. Ideally, we see price action break resistance around 135.500 with a...
USDJPY Neutal Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: We have been very bullish here on UJ and it is not showing signs of reversal yet although we are near a major supply zone around 125.000. It would make a lot of sense if price action reverses here and we will be waiting for a break of the most recent lower high...
AUDJPY Neutral idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Price action on this pair is still very overextended. We’re still looking for a massive pullback to correct this rally and form structure. Without structure we can’t do much on this pair just yet. Ideally, we see some consolidation followed by a pullback to...
DXY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: We are still super bullish on DXY and it does not show signs of slowing just yet. We can see price action is resting right near 100.00 resistance which is a hugely overvalued area for the dollar. Ideally, we see some reaction from current resistance and start...
Price violated our levels since there was a major news yesterday so now we then wait for its reaction either a rejection or breaks below the support.
Now as the price rejected the support level we are interested in buying positions. But then price could break below the support so we are also ready if it happens.
Now that the price broken the support level we are more interested for taking short position. So a simple break and retest pattern could play here wait for confirmation before entering.
Overall bias is bearish but as the price didn't close below the previous low we might see a retest from the previous support level that would act now as a resistance. Or a break below then short on a retest.
As the price is trading at our support level we then wait for its reaction. Either a rejection so we are bullish to target the previous high or a close body candle below it so we are short at the retest.
Price is still moving sideways and trading within the range so we could possibly trade it by buying at the support and selling at the resistance level.
For me personally bitcoin us bullish in long term bias but as a short term trader we trade what the market gives us today so the idea in trading bitcoin right now is bearish. As you can see on the chart it is primarily short since it rejected the resistance level multiple times now and moving towards our support level. Be cautious of your risk management only risk...
Price is moving bearish now but then be aware of these levels on the chart they are important levels to look at. Wait for price to taps in to either of those levels especially the 14600.00 it is best place to enter buy to target the 14900.00 resistance or sell to target the 14300.00 support level. Just be patient and eventually it'll come to our way.
The trend is still bullish but as of now price is consolidating so we could see price breaks below the support level but then price could also bounce from the support level. So just be patient for the price to taps in our support then wait for confirmations.
A very simple and nice break and retest set up. Just wait for the price to pull back towards our previous support level that would act now as a resistance level. Be patient and keep an eye on this pair.
After a series of bearish market structure the price now is consolidating waiting to continue to bearish or gaining its momentum to the upside. Our best case scenario is to buy at the support and sell at the resistance during this time. But if it breaks any levels then we are ready either way.
Just like with GJ price can either bounce from the support level then target the Daily High. Or breaks below the support to target the next previous low or any level of danger.
Either price could bounce back from the support level or breaks below it. So tomorrow in London session we can see its movement so it has momentum to go to our set up. If price happens to break below then look for next possible level of danger. But if it bounces from the support then our target is the Daily High of the Daily timeframe.