Price Action Analysis Today, I will do an intraday analysis of CAD/JPY. What caught my eye when I went through the charts in the morning, was that there was a rotation from which strong buying activity started. This usually means that there were buyers entering their long positions in that rotation. After they have entered their longs, they started aggressive...
Good Day :) Hope everybody is having a great trading week so far (That's if you've been following my analysis) wink* Technical Analysis: USD/JPY Bias: Neutral - On the 1Hour timeframe price action has created a descending triangle pattern. We do not have a clear bias at the moment, We will wait for price action to give us an indication by a break of either the...
Good Day :) Hope everybody is having a great trading week so far (That's if you've been following my analysis) wink* Technical Analysis: USD/JPY Bias: Neutral - On the 1Hour timeframe price action has created a Descending Triangle pattern. We do not have a clear bias at the moment, We will wait for price action to give us an indication by a break of either the...
Good Day :) hope everybody is having a great trading week so far (That's if you've been following my analysis) wink* I'll add the links below. Technical Analysis: USD/JPY Bias: Bullish - On the 1Hour timeframe price action has created an inverse head & shoulders patterns. which occurs after a downtrend and indicates a possibility of a high probability trend...
Hey everybody, hope you guys are all doing well :) Chart of the day: EUR/USD Bias: Downtrend - On the 1-hour timeframe price action has created a rising wedge pattern (Solid line) which indicates a possibility for a high probability trend continuation to the downside. We will wait for the break of the trendline to confirm a move to the downside. Please...
USDCHF broke uptrendline Price is based below key level at 0.9685 Pair respects minor downtrendline Below SMA 100 on H1 frame MACD shows bearish momentum It's expected more selling to target first support level at 0.9502 then target demand zone at level 0.9393
I feel like this pair has some room upward and I have checked it on multiple time frame where it's only pointing me out that there is still some room upward. I am well aware of this major pair broad picture and it's trying to shift trend on higher resolution from bullish to bearish (knowing the fact it's overall bearish trend for higher time frame due to some...
NZDUSD is in uptrend Price is based above key level at 0.5985 Above SMA 100 on H1 frame MACD shows weakness in bearish momentum RSI is above level 50 It's expected for going up towards HVN at level 0.6260 then target supply zone at level 0.6450
EURUSD is in downtrend in short term after forming sharp bullish wave Price is below key level at 1.1217 Rejected from 50% Fibonacci level at 1.1209 Based below SMA 100 Below HVN at level 1.1318 which indicates that pair is in distribution phase MACD shows weakness in bullish momentum RSI rejected from resistance level It's expected more selling to target demand...
Sharp bullish wave ended at level 1.1490 after running more than 700 pips Price rebounded by bearish movement in short term and broke parabolic curve which pair was supported on it during last 2 weeks MACD shows weakness in bullish momentum RSI is below level 50 We r waiting price breaking support level at 1.1270 to open short trade, in that moment pair will be...
Sharp correction wave ended at level 0.9182 then price rebounded by bullish movement in the short term Price broke downtrendline Based above SMA 100 on H1 frame MACD shows weakness in bearish momentum RSI is above level 50 We r waiting for price exceeding resistance level at 0.9405 top open long trade It's expected to target first key level at 0.9625 then...
GBPUSD is based above key level at 1.2988 Price is supported above HVN at level 1.2997 which indicates that pair is in accumulation phase Pair is above demand zone at 1.2960 which represents 50% Fibonacci level of preceding strong bullish wave RSI is near oversold region It's expected for coming bullish wave to target supply zone at level 1.3210
USDJPY is based below downtrendline Price is rejected from key level at 105.10 and SMA 100 on H1 frame MACD shows weakness in bullish momentum RSI reached overbought region It's expected to target support level at 101.19
Strong bearish wave (A) ended at level 1.2718 after breaking key level at 1.2880 Then corrective bullish wave (B) is rejected from downtrendline and 61.8% Fibonacci level of preceding bearish wave (A) at level 1.2900 MACD shows weakness in bullish momentum Price is based below HVN at level 1.2998 which indicates that pair is in distribution phase RSI reached...
The EUR/USD is pushing upwards like crazy. It made over 400 pips just in eight days! An interesting thing is that there were eight consecutive bullish Daily candles (all green). Not a single pullback! This is a sign of strong and aggressive buyers. Even a blind person can see this. How to trade in a trend The main intraday trading strategy in such a situation...
NZDUSD rebounded from strong demand zone on H4 frame at level 0.6195 Price broke downtrendline Pair is supported above SMA 100 MACD shows start of bullish momentum It's expected for coming bullish wave to target first key level at 0.6378 then target supply zone near HVN at level 0.6462
EURUSD retested broken major uptrendline on H4 frame near supply zone Price is rejected from 78.6% Fibonacci level of preceding strong bearish wave at 1.1140 RSI reached overbought region It's expected for coming bearish movement to target levels 1.0984 and 1.0876 respectively
False breakout occurred after retesting major downtrendline on H4 frame Price is based below key level at 1.3385 MACD shows starting of bearish momentum It's expected for coming strong bearish wave to target demand zone at level 1.3016