if we do a top down trend analysis we can see that now now we are in a correction in the higher time frame and we target the liquidity zone .
So we just need to look for a long entry in the lower time frames with a good RR . And to do that we need to identify the higher highs and higher lows and look to get in the high low to ride it until th eliquidity zone
Gold has bumped its head on a historically strong resistance level at ~1560.
USDJPY has not confirmed gold's move since Dec '19.
USDJPY breaking out higher itself (bearish gold) so we should expect gold to readjust itself.
DXY in general has regained an important historical level + 61.8 fib of most recent trend which points the dollar higher (bearish...
AUD/USD is at a monthly demand zone, there are numerous traps enticing retail traders to short. E.g. bouncing off the weekly trend line, and a so called area of resistance on the daily.
COT data also shows banks are becoming slightly bullish and reducing short positions.
A-la-la-la-le-LONG,
ah-long-long-le-long-long-LONG!
Don't short basically.
Ps. Trade...
Shorting AUDUSD from the yellow area as that is a supply area on the short (30min) timeframe, as well as the long (12hr, gray area).
These setups usually produce good movements so I am hoping to get a 1:1 RR, as indicated on the chart.
Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while....
A very good trading setup is beeing established here - The perfekt timing to engage in a long position.
From a statistical point of view, we can anytime soon expect high volume and hence easily upwards 300% in price increasement. There exits large upside potentials for this very particular coin
Good weekend traders!
Annnnnnd we're back with some more amazingness. Guys look at your 4hr audusd chart. We have a gartley forming, stops should be just below the .76950 level. Set your tp accordingly because I've called a daily short on this pair 1 month ago and it's still respecting resistance. I love you. Ca$h
This is a nice setup that caught my eye. The black lines are my entry area, the red line is my stop, and the green line is my intended target. The two negatives about this setup is that normally I would only take setups that offer me 3:1 risk to reward, but if I feel the setup is high probability, I will from time to time take less than 3:1. This setup offers...
Reasons for trade:
- Up trendline broken by 1hr supply zone
- Supply zone taken out 1hr demand zone (confirm downtrend)
- Clear path down till 114.300
- >3:1 R/R
There is a good confluence of 78.6 and 127 plus an ABCD completion. if the ratios keep up, then we have an awesome trade. though the risk displacement is a little higher. Should be 1:1 or 1:2 if 618 is hit/.
Good luck.
Regards,
Hearty
High probability with many confluences to the naked eye, 4 hour price action will bounce of the 38.2 FIB zone or the daily resistance if broken the 238 FIB and then continue the downtrend, creating a short opportunity.
