Overall bias is bearish so this is just a retest of the previous breakout of support level.
The structure right now is just a retest after a breakout of the resistance level. So we are long on this pair but be careful to wait for confirmation in the lower timeframe.
Monthly & Weekly : On the monthly timeframe we don’t really see any clear trend. There was a trendline that was broken, so it’s safe to say that anything over this trendline is bullish, however we are stopped by the monthly resistance zone that has been respect for the past 4 years. I have noticed that the resistance zone also falls in the same place as the...
The price action breaks the resistance level that gives us more confluence in the market to be bullish. Be careful with your entry it could be an aggressive entry by riding the momentum or wait for more confirmations.
Market structure is very bearish, as we can see the price rejected our resistance level multiple times to push to the downside.
Price is moving sideways but we are at the resistance level so we are more interested to go short. Even fundamentally we are bearish on the euro or any currency against the dollar.
There's a lot of fear from the market so investors put their money to a safe haven like the dollar as it is the world reserve currency. So there was a liquidity grab that happened and push the market to the upside.
As the war continues it causes the pound and other currencies against the dollar to fall. Since there is a lot of fear in the market and the dollar is the world reserve currency it is rising. We wait for a retest to short this pair.
Because of the current fundamentals which affects the euro to fall and dollar to rise. We are short with this pair until the war stops, so with the current market structure we are still bearish overall.
Gold Long idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: Bullish on gold but what else is new.. Currently we’re seeing overextended price action but that does not seem to be slowing down. The most likely scenario is that gold will continue to rally and we will see our 2000 level of resistance met before any reactions can...
EURJPY Bearish Idea Weekly Trend: Bearish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: EJ is on the move! Looking very bearish here we’re just waiting for our next point of structure to enter short on. Ideally we can spot a lower high close to 126.500 after price action pulls back. Trade scenario 2: If we are to consider EJ bullish we first...
USDJPY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Ranging Trade scenario 1: Overall UJ is bullish on the major timeframes, however, we can see that we have high volume ranging on the 4hour. Current price action is looking to break the range bearishly so we are looking for lower highs below 115.000 which is the key zone here. Trade...
AUDJPY Bullish idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: AJ is also looking bullish on all major timeframes after we saw a break of 83.250. Now we are waiting for key structure points to enter long on and ride the trend. Ideally, price action forms a higher low closer to 83.250 before continuing higher. Trade...
AUDUSD Bullish Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: We are looking bullish on all timeframes as we saw a major break of the 0.73000 resistance level. From here we’re looking for our next structure point in the form of a higher low as close to 0.73000 as possible. Trade scenario 2: For us to consider AU bearish...
DXY Neutral Idea Weekly Trend: Bullish Daily Trend: Bullish 4Hour Trend: Bullish Trade scenario 1: We are extremely bullish on USD still but we can see we are very over-extended. Ideally, price action pulls back and forms a higher low closer to 97.250 for good structure. Trade scenario 2: If we do not see a pullback we can expect price action to rally into...
Now that the price already breaks below the previous low we might anticipate a retest of the previous support level as the NY sesh opens.
This pair is still moving sideways so unlike EU it broken below the support level. So we could trade this pair by buying at the support level but if it manage to break below it we might look for shorts then.
Yesterday price didn't break the previous low so it formed an equal lows. But as the price retested the previous support level we might find a potential trade if the market has the momentum during NY sesh to really push to the downside.