CADCHF: Bearish Price Action Confirmed 🇨🇦🇨🇭
CADCHF is going to drop from an intraday horizontal resistance.
As a confirmation, the price formed a tiny double top pattern
on that and broke its neckline after a London session opening.
With a high chance, the price will drop to 0.5805
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ETH/USD (Ethereum – 2h, Coinbase).ETH/USD (Ethereum – 2h, Coinbase). mymarked a bullish setup with a corrective move and trendline support.
Key Levels on my Chart:
Current Price: ~4,423
Support Zone (1st Target): ~4,050 – 4,100
Trendline Support: Rising diagonal trendline shown on chart
Last Target (Resistance): ~4,900 – 5,000
Technical Outlook:
Price recently pulled back from ~4,900 and is now retracing towards the trendline.
The 1st Target zone (~4,050–4,100) aligns with both horizontal support and trendline confluence → this is a likely bounce area.
If ETH respects this support, the bullish scenario suggests continuation upward.
The Last Target is clearly marked on my chart at ~4,900–5,000, which is the next major resistance zone.
👉 Targets:
1st Target (Support for bounce): ~4,050 – 4,100
Last Target (Upside objective): ~4,900 – 5,000
Gold XAUUSD Long-term BullishThe monthly chart on XAUUSD shows a great BULLISH setup.
A horizontal support level around the $1955 has been broke and confirmed.
Also, a descending trendline support has been broke and confirmed.
Price is currently retracing down and re-testing near prior support which is expected to hold. This is an excellent trading opportunity with low risk and high reward.
Entry = 1955 to 1960
TP = 2060
SL = 1945
Note: This is a long-term chart and therefore very reliable.
USOIL Is Bearish! Short!
Take a look at our analysis for USOIL.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 63.688.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 60.936 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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EURAUD Is Going Up! Long!
Here is our detailed technical review for EURAUD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.795.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.801 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURGBP Will Grow! Buy!
Take a look at our analysis for EURGBP.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 0.863.
Considering the today's price action, probabilities will be high to see a movement to 0.871.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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What Is a Pyramiding Strategy, and How Does It Work in Trading?What Is a Pyramiding Strategy, and How Does It Work in Trading?
Pyramiding is a trading strategy where traders gradually increase their position size as the market moves in their favour. Instead of committing full capital upfront, they add to winning positions at key levels. This article explains how pyramiding works, common strategies, potential risks, and key considerations for traders looking to add it to their trading approach.
What Is Pyramiding?
Pyramiding is a strategy where traders gradually add to an effective position instead of going all in from the start. It’s used in trending markets, where traders look to take advantage of sustained price movements by expanding their exposure as the trend develops. The key difference between pyramiding and simply increasing position size at the outset is that pyramiding limits initial risk. Instead of committing full capital upfront, traders build up their position only when the market moves in their favour.
Applying a pyramid to a position is particularly common in markets with strong momentum. A trader, for example, might start with one unit of an asset and, if the price moves favourably, add another half-unit at a predefined level. If the trend continues, they might add another quarter-unit. This gradual scaling means more capital is committed only when conditions confirm the trend.
The logic behind pyramiding in trading is straightforward: when the market is moving in the right direction, the strategy compounds potential returns without significantly increasing initial risk. It also allows traders to adjust their exposure based on market conditions rather than relying on a single entry.
However, pyramiding only works well when executed with clear rules on when to add positions, how much to increase by, and where to adjust risk parameters. Without a structured approach, adding to positions can lead to overexposure, especially if the market reverses. Understanding how to manage this risk is essential, which is why different pyramiding methods exist—each with its own risk-reward profile.
Is Pyramiding the Same as a Forex Pyramid Scheme?
No, pyramiding is a legitimate trading strategy, while a forex trading pyramid scheme is a fraudulent investment model. Pyramiding involves adding to winning trades in a structured manner, whereas pyramid schemes rely on recruiting new investors, often with unrealistic return promises and no genuine market activity.
Common Types of the Pyramiding Strategy
Traders use different types of pyramiding strategies depending on their risk tolerance, market conditions, and trading style. The core idea remains the same—adding to a position as the market moves favourably—but the way additional positions are sized can significantly impact potential risk and returns.
Fixed-Percentage Pyramiding
With this approach, traders add a set percentage of their initial position each time they scale in. For example, if the first position is 1 lot, the next might be 50% of it (0.5 lots), and the next 50% of it (0.25 lots). This method reduces sequential risk exposure with each additional entry, preventing the position from growing too aggressively. It is popular in markets where trends can extend for long periods but aren’t always smooth.
Fixed-Size Pyramiding
Here, traders add the same amount to their position at each entry point. If they start with 1 lot, they continue adding 1 lot at each predetermined level. This method increases exposure more quickly than fixed-percentage pyramiding and is commonly used by traders confident in strong, sustained trends. However, it also carries more risk—if the trend reverses, a larger position is at stake.
Scaled Pyramiding
In this strategy, the size of each additional position decreases as the trade progresses. A trader might start with 1 lot, then add 0.75 lots, then 0.5 lots, and so on. The idea is to lock in potential returns while still participating in the trend, limiting risk as the position grows. This approach is useful when traders want to take advantage of strong momentum but remain cautious about overexposure.
Aggressive Pyramiding
Aggressive traders may add increasingly larger positions as the trade moves in their favour. For example, starting with 1 lot, then adding 1.5 lots, then 2 lots. This approach amplifies potential returns quickly but also significantly increases risk. If the market reverses, the largest position is the most vulnerable.
How Pyramiding Works in Practice
Pyramiding isn’t just about adding to a trade—it requires a structured approach. Traders who use this strategy typically follow a clear set of conditions to determine when and how to scale into a position. These conditions revolve around trend identification, entry levels, risk control, and adjustments based on price action.
1. Identifying a Strong Trend
Pyramiding is used in clear trends, where the price moves consistently in one direction without frequent reversals. Traders often use moving averages, trendlines, or higher highs and higher lows to confirm momentum before considering additional positions. A market that chops sideways or lacks volume makes pyramiding riskier, as price movements can be inconsistent.
2. Setting Initial Risk and Position Size
Before adding to a position, traders determine how much of their total risk they’re willing to allocate. Many use a percentage of their account size to calculate exposure, so they don’t take on too much risk too soon. For example, a trader might start with 1% of their capital at risk and adjust as the trade progresses.
3. Choosing Levels to Add Positions
Entries are usually added at logical technical levels, such as:
- Breakouts of key resistance levels (for long positions) or support levels (for short positions).
- Fibonacci retracements, where price temporarily pulls back before continuing in the trend direction.
- Pullbacks to moving averages, such as the 50-day or 200-day moving average.
4. Adjusting Stop Losses and Managing Risk
As new positions are added, traders adjust stop-loss levels to protect against reversals. Some move stops to breakeven once the trade gains momentum, while others trail stops behind higher lows (in an uptrend) or lower highs (in a downtrend).
Example of a Pyramid in Action
A trader enters a forex trade with 1 lot after a breakout. As the price moves 2% higher, they add 0.5 lots at the next resistance break. After another upward movement, they add 0.25 lots. Their stop loss is adjusted upwards each time, reducing risk. If the price reverses, they lock in potential returns rather than losing their initial position.
Challenges of Pyramiding and How to Deal With Them
Using pyramiding as a trading strategy can be an effective way to scale into trades, but it introduces unique risks that require careful management. While adding to a strong trend can potentially boost returns, it also increases exposure, magnifies losses in reversals, and requires disciplined execution.
1. Increased Exposure in Volatile Markets
One of the biggest risks of pyramid trading is overexposure. As a position grows, so does the potential downside. A sharp market reversal can wipe out potential accumulated gains or lead to a larger-than-expected drawdown. This is particularly challenging in high-volatility conditions, where price swings can occur more often.
Traders who use pyramiding are mindful of position sizing. Instead of doubling exposure with each entry, some reduce position sizes incrementally, so that later additions carry less weight. This prevents a single-price move from turning a strong trade into a major loss.
2. Liquidity and Slippage Issues
Adding to a position in low-liquidity conditions can result in slippage, where orders get filled at worse prices than expected. This often happens in after-hours stock trading, near the end of trading sessions, or during high-impact news events when order book depth is thin.
In fast-moving markets, slippage can cause later pyramid entries to execute at increasingly unfavourable levels. This not only raises the average entry price but also increases the risk if the trend fails. Traders focused on managing execution risk often monitor liquidity before scaling in to check if market conditions allow them to place trades efficiently.
3. Overleveraging and Margin Pressure
Leverage amplifies both potential returns and losses. In pyramid trading, each new entry raises margin requirements. If a leveraged position expands too aggressively, a sudden price move against it can trigger margin calls or forced liquidations before the trade has a chance to recover.
Managing leverage effectively means maintaining a controlled risk-per-trade allocation rather than committing too much capital to additional entries. Many traders assess account exposure relative to market conditions and adjust position growth accordingly.
4. False Trends and Market Reversals
Not all breakouts sustain momentum. An asset might briefly break through resistance, triggering pyramiding entries, only to reverse sharply. If a trader misreads the strength of a trend, they could end up adding to a losing position rather than a winning one.
A structured approach to trend confirmation can help avoid premature entries. Instead of reacting to every breakout, traders often rely on higher timeframe trends, price structure, and volume confirmation to assess whether momentum is sustainable.
5. Poor Stop-Loss Placement
One of the most common mistakes is failing to adjust stop losses properly. If stop losses are too tight, the trader might exit too early. If they’re too loose, losses can escalate quickly.
A common adjustment is trailing stop-losses that move in line with price swings, locking in potential returns while allowing for continued trend movement. Some traders move stops to breakeven after the second entry, while others adjust based on key technical levels.
6. Psychological Pressure
Scaling into a position changes the psychological dynamics of trading. A growing trade size can lead to emotional decision-making, such as exiting too soon out of fear of losing accumulated potential returns or overtrading in an attempt to maximise potential gains.
Having a structured plan before entering a pyramiding trade can help mitigate these pressures. Clear predefined entry, stop, and exit strategies ensure that decisions are made based on analysis rather than emotion.
The Bottom Line
Pyramiding allows traders to take advantage of strong trends by gradually increasing position size while managing risk. When used with a structured approach, it can potentially enhance returns. However, overleveraging is very common, and discipline and risk control are essential when using this approach.
FAQ
What Is the Pyramiding Method?
Pyramiding is a trading strategy where traders gradually increase their position size as the market moves in their favour. Instead of entering a full position at once, they add to it at predetermined levels, typically in a trending market. The goal is to take advantage of momentum while helping to manage initial risk exposure.
What Is the Pyramid Scheme Strategy?
A pyramid scheme is a fraudulent business model that relies on recruiting new participants rather than generating actual revenue. It has nothing to do with pyramiding in trading. In pyramid schemes, early participants take advantage of the investments of later recruits, making the model unsustainable. These schemes often collapse when recruitment slows, leaving most participants at a loss.
What Is an Example of Pyramid Trading?
A trader buys 100 shares of a stock at £50. As the price rises to £55, they add 50 more shares. At £60, they add 25 more. Their position grows only when the trend confirms itself, potentially limiting early risk.
How to Do a Pyramid in Stocks?
Traders typically add positions at breakout levels, retracements, or trendline bounces, adjusting stop losses to lock in potential returns while potentially mitigating risk.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Gold Supported by Ichimoku Cloud, Upside Bias in PlayHello everyone, looking at the 12H XAU/USD chart, I see gold is consolidating right at the upper edge of the sideways range. Price has held firmly above the Kumo (Ichimoku cloud) and left behind two clear demand FVG zones: 3,345–3,355 and deeper at 3,330–3,345. These often act as a “cushion” for price to rebalance before continuing higher. On the upside, a supply FVG is still hanging around 3.38x and further at 3.40x — making 3,380 the key “wall” that gold needs to break.
The fundamental backdrop looks quite supportive:
After Jackson Hole, Mr. Powell signalled that the Fed could cut rates in September. The probability of a cut via FedWatch has risen sharply, dragging yields lower and cooling the USD.
At the start of the week, the USD staged a technical rebound as the market “reset” risk ahead of a heavy data calendar, causing choppy intraday swings in gold but without breaking the structure above the cloud.
This week’s US calendar is packed: Consumer Confidence, Durable Goods Orders, preliminary GDP, Jobless Claims, and especially core PCE at the end of the week. If data comes in weak, rate cut expectations will be further reinforced.
The PBOC continues to inject large liquidity to support the CNY, easing global cash stress and creating a more favourable environment for gold.
Gold ETF (GLD) holdings remain elevated, showing that investor positions have not weakened significantly. At the same time, US consumer confidence is softening, adding another reason for the Fed to “soften its tone.”
As long as price stays above the Kumo and with the demand FVG 3,345–3,355 right below, I favour the upside scenario. If 3,350 holds, my near-term target is 3,390, with extension to 3,405 (overlapping with the higher supply FVG). This view only weakens if a 12H candle closes below 3,335 — in which case the risk of a deeper pullback to retest the lower FVG increases.
What do you think about the scenario of gold being “backed by the Ichimoku cloud” and heading towards the 3,390–3,405 zone?
EUR/USD – Is the Uptrend Coming Back?EUR/USD is trading around 1.162–1.163, after a slight rebound from the support zone near 1.16100. The uptrend is reinforced as the pair holds above key EMAs and maintains a clear technical structure.
The nearest upside target is the resistance area around 1.16500, followed by the July high near 1.17000 if momentum remains strong.
Suggested strategy: Favor Buy on dip around 1.1600–1.1610. Target 1.1650 first, then 1.1700+. Stop-loss below 1.1580.
Supporting news: At Jackson Hole, Powell signaled that the Fed could ease policy if the labor market weakens, pushing the USD lower and boosting EUR/USD. The pair sustains its recovery as key support holds, aiming for a breakout above higher resistance.
USDJPY Is Very Bullish! Buy!
Take a look at our analysis for USDJPY.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 146.947.
Considering the today's price action, probabilities will be high to see a movement to 147.470.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPJPY Will Go Down! Short!
Take a look at our analysis for GBPJPY.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 198.971.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 198.505 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURUSD – Bullish Setup for TodayHello dear traders, what are your thoughts on EURUSD?
EURUSD is showing encouraging signs of a potential recovery. After a clear bearish move, price has returned to retest the support area around 1.1600, where a Double Bottom pattern is forming. This formation often reflects market hesitation to push prices lower and signals strong buying interest at this level.
If the support holds, buyers may regain control, paving the way for a rally towards the 1.1680 target zone. The double bottom combined with the demand area provides a solid basis for today’s bullish outlook, favouring buy-the-dip strategies as long as price remains above support.
The 1.1600 level is the key battleground as holding this zone strengthens the bullish case for EURUSD today.
What do you think, will EURUSD continue to bounce higher or face renewed selling pressure Share your thoughts in the comments.
Wishing you good luck and profitable trades!
EUR/USD – Can the Bullish Momentum Hold?Hello everyone, what do you think about FX:EURUSD ?
EUR/USD surged strongly earlier, breaking out of the descending channel and forming a new high. However, strong demand for the US dollar made buyers cautious on Monday, causing the pair to give up most of Friday’s Powell-driven gains.
On the chart, after the sharp rally, sellers immediately stepped in, pushing the pair back to previous lows and filling the FVG. Currently, the price is hovering around the final short-term support zone – the very base that fueled the prior breakout. If this support holds, we may once again consider opportunities above the 1.173 level.
Do you think EUR/USD can maintain its bullish momentum? Leave your thoughts in the comments!
USD/CAD - 6C1! : Trade update FundamentalThe US dollar index (DXY) gained strength against major currencies on Monday following a landmark trade agreement between the United States and the European Union. During the meeting in Scotland on Sunday, President Donald Trump and European Commission President Ursula von der Leyen announced a new trade framework, which includes a 15% import tariff on EU goods—half of the 30% rate Trump had initially threatened to impose starting August 1.
The DXY opened higher at the start of the week, and it’s clear that most currencies are likely to see a decline in response. This trend also extends to pairs like the 6C1! (USDCAD), where the USD has been increasing its long positions. Last week, non-commercial traders added to their holdings, while commercial traders remain at their highest levels since 2021. Based on this setup, we are maintaining a bullish outlook and expect the continuation of our long position strategy.
Previous Idea :
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Fed Chairman 'Paves Way' for Rate Cut in SeptemberGold prices started the new week in the US market slightly down. Last Friday, the market reacted positively to the speech of the Chairman of the US Federal Reserve (Fed) Jerome Powell at the Jackson Hole conference. Mr. Powell signaled that the Fed could cut interest rates as early as the September meeting, helping the stock market recover and putting pressure on the USD.
However, investors are still worried about the uncertainty. Inflation in the US is higher than the target of 2% and the labor market is showing signs of weakness. This has left Fed policymakers divided on the view of cutting interest rates.
The Fed chairman has "paved the way" for a rate cut in September. This decision has provided support for many assets, including gold.
USDCAD – Short-Term Bullish Trend Following Political NewsHello, it's great to be back with everyone.
Today, the OANDA:USDCAD pair is in an interesting phase. After a strong rally, the price has corrected and, at the time of writing, the pair is trading around 1.385, finding support from the area marked on the chart.
Recently, the news of U.S. President Donald Trump firing Fed Governor Lisa Cook has put light selling pressure on the Loonie. This event could strengthen the USD against the CAD as the market concerns the stability of U.S. politics and Fed policies, leading to a short-term bullish trend for USDCAD.
Keep an eye on the key levels to look for suitable trading opportunities.
XAU/USD (Gold) on the 4-hour timeframe. XAU/USD (Gold) on the 4-hour timeframe.
📊 Chart Observations:
My analysis marked a breakout zone from a consolidation/triangle pattern.
Price is currently trading around $3,376 (as shown).
The chart shows two target points:
First target: Around $3,410
Second target: Around $3,460
🎯 Possible Targets:
1. Immediate Target (Short-Term):
If the breakout sustains, the first resistance/target level is at $3,410.
2. Extended Target (Medium-Term):
If momentum continues and price breaks above $3,410, the next target is near $3,440.
3. Support Levels to Watch:
$3,362 (short-term support)
$3,348 (stronger support if price pulls back)
⚠ Reminder: This is technical analysis, not financial advice. Always manage risk with stop-losses, as gold can be very volatile.
EURNZD Eyes 1.99 — Technical & Fundamental Bulls AlignedToday, I want to analyze EURNZD ( OANDA:EURNZD ) for you, which is in good shape both technically and fundamentally .
Please stay with me.
EURNZD is moving close to the Support zone(1.88750 NZD-1.7970 NZD) and 100_SMA(Daily) and has managed to form a Double Bottom Pattern .
From the perspective of Elliott Wave theory , EURNZD seems to have completed the main wave 4 , and we should wait for the main wave 5 . The main wave 5 could complete at the Heavy Resistance zone(2.120 NZD-1.9927 NZD) .
-----------------------------------
EURNZD – Fundamental Analysis:
The EURNZD pair currently reflects a divergence between two very different economic outlooks.
Eurozone (EUR):
The European Central Bank (ECB) has recently begun cutting interest rates to support slowing economic activity, especially in the industrial and manufacturing sectors. Despite this dovish shift, inflation remains relatively under control, and the euro has held up well against riskier currencies thanks to global uncertainty and safe-haven flows.
New Zealand (NZD):
New Zealand's economy is under pressure. The latest GDP figures confirmed a weak growth outlook, and signs of a technical recession are mounting. While the Reserve Bank of New Zealand (RBNZ) has maintained a relatively hawkish tone, it faces a dilemma: inflation is sticky, but domestic demand and housing remain fragile. The RBNZ may be forced to soften its stance sooner than expected.
Outlook:
This fundamental backdrop supports a bullish bias for EURNZD. The euro’s relative stability versus the increasingly vulnerable New Zealand dollar makes this pair attractive for long positions — especially if upcoming NZ data disappoints or global risk sentiment weakens further.
-----------------------------------
Based on the above explanation, I expect EURNZD to rise to at least 1.9917 NZD .
Note: Stop Loss(SL): 1.8779 NZD
Please respect each other's ideas and express them politely if you agree or disagree.
Euro/New Zealand Dollar Analyze (EURNZD), Daily time frame.
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Do not forget to put a Stop loss for your positions (For every position you want to open).
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XAUUSD (Gold vs USD) on the 1H timeframe.XAUUSD (Gold vs USD) on the 1H timeframe with Ichimoku cloud, trendlines, and marked target zones.
From what’s visible:
Current price: around 3340.38
First target (TP1): around 3356 – 3360 zone (mid-green zone labeled "TARGET POINT")
Second target (TP2): around 3375 – 3380 zone (upper green zone labeled "TARGET POINT")
📌 So my chart suggests a potential bullish move with Target 1 = ~3360 and Target 2 = ~3375–3380.
MarketBreakdown | EURUSD, USDCAD, USDJPY, SILVER
Here are the updates & outlook for multiple instruments in my watch list.
1️⃣ #EURUSD daily time frame 🇪🇺🇺🇸
The pair is now consolidating within a wide horizontal range.
We see a test of its support now.
Probabilities will be high, that a bullish movement will follow from that.
2️⃣ #USDCAD daily time frame 🇺🇸🇨🇦
The pair is positioned strongly bullish,
respecting a solid rising trend line after a pullback.
With a high probability, growth will continue.
3️⃣ #USDJPY daily time frame 🇯🇵🇺🇸
Similarly to EURUSD, the pair is consolidating.
The price is trading in the middle of the horizontal
parallel channel.
With a high probability, it will start growing soon
and reach the resistance of the range.
4️⃣ #SILVER #XAGUSD daily time frame 🪙
The price has recently updated a local high, breaking
a significant horizontal resistance cluster.
We see its retest now. There is a great chance that
the market will cotinue rising soon.
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EUR-GBP Local Short! Sell!
Hello,Traders!
EUR-GBP made a retest
Of the horizontal resistance
Of 0.8651 from where
We are already seeing a
Local pullback and we will
Be expecting a further
Bearish move down
Sell!
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Check out other forecasts below too!
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USDCHF – Bearish Channel, But Bulls Eye This Zone!USDCHF has been sliding within a falling channel 📉 , keeping the broader outlook bearish. Yet, the pair is once again testing the 🟩 demand zone, an area that has acted as a strong base in the past.
If buyers manage to hold this level 💪 , we could see a short-term rebound toward the upper bound of the channel.
For now, the plan is simple: while the macro bias stays bearish, this zone offers a potential window for trend-following longs before the sellers step back in.
⚠️ Risk management remains key, as a clean break below the zone would signal that bears 🐻 are tightening their grip.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
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LOONIE H4 | Bearish reversalUSD/CAD is rising towards the sell entry which is a pullback resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to the take profit.
Sell entry is at 1.3875, which is a pullback resistance that lines up with the 50% Fibonacci retracement.
Stop loss is at 1.3941, which is a pullback resistance.
Take profit is at 1.3793, which is an overlap support that aligns with the 61.8% Fibonacci retracement.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (tradu.com ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (tradu.com ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Global LLC (tradu.com ):
Losses can exceed deposits.
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