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GBPCAD – Triple Tap Trouble!GBPCAD has been trading within a well-defined range, with price rejecting the 1.8850 resistance zone multiple times in the past. Each test of this area has led to strong bearish moves, highlighting its significance as a supply zone. Here’s what the chart shows: 🔴 Resistance Zone: Price is approaching the upper bound of the range, where sellers have consistently stepped in. 🔵 Support Zone: The 1.8300 area remains a solid demand zone, holding price higher on several occasions. 📈 Rising Channel: The latest bullish leg is developing inside an ascending channel, but momentum is slowing near resistance. ⚠️ Short Opportunity: As long as price trades below the resistance, the area remains attractive for short setups targeting the mid-range or lower bound. Confirmation with bearish candlestick patterns will strengthen the case for a downside move. 📌 Will GBP/CAD respect its range and roll over once again, or will the bulls finally break through? This analysis is for educational purposes only, not financial advice. Always manage risk properly before taking trades. 📚 Stick to your trading plan regarding entries, risk management, and trade execution. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Short
by TheSignalyst
4
XAU/USD (GOLD) - Bullish Continuation Expected 🔹 4H Timeframe: • Market structure is bullish, showing signs of continuation. • Watching for a potential retracement before price resumes its trend. 🔹 30M Timeframe: • Looking for a sweep of IDM (Inducement) to mitigate order flow. • Once liquidity is taken, watch for a CHoCH and order block retest for entry. • Plan: If price mitigates the order block after the IDM sweep, expect bullish continuation. 🎯 Target: Previous highs or next liquidity zone. 🛑 Invalidation: If price breaks key bullish structure.
OANDA:XAUUSDLong
by Juicemannn
USDJPYHere is our in-depth view and update on USDJPY . Potential opportunities and what to look out for. This is a long-term overview on the pair. Alright first, let’s take a step back and take a look at USDJPY from a bigger perspective. For this we will be looking at the H4 time-frame . USDJPY is currently trading at around 151.800 after making its correction down to 150.400 . Scenario 1: SELLS from higher levels (153.300) We are at 153.300. That would confirm our pullback to the uspide and as long as it’s respected, we should continue to the downside to our next KL (Key Level) sitting at 150.400. Scenario 2: SELLS from 150.400 We dropped down to our Key Level 150.400 . If broken we should see more sells down to our targeted zones 149.500 - 149.000 . Scenario 3: BUYS from 154.700. We broke above 154.700 and are trading above it. We should see more upside potentially reaching new highs at around 158.800 . Personal opition: The direction for now is unclear until we break our mentioned key levels. A safe sell trade could be taken at 153.000 - 153.300 . Be patient and stay tuned for updates on this pair. KEY NOTES - USDJPY breaking below 150.400 would confirm sells down to 149.500 - 149.000. - USDJPY failing to break above 153.300 would confirm sells. - Breaks above 154.700 would show signs of reverse and could potentially rise up to 158.800. Happy trading! FxPocket
by FxPocket
How I identify the best forex pairs to trade: (2)Here is how I identify the best forex pairs to trade: (Publication #2 / Update) In the top left panel, the indicator 'Compare Forex' displays the PERFORMANCE of each major currency. The USD (red line) has been the strongest currency for the past 2 months on H6 charts. By identifying the strongest currency, all that remains is to trade the USD against all the other currencies since they are weaker. = Smooth stress-free charts. I look at my trades 2-3 times a day to see if they are still blue or red. Takes a few minutes. __ DEC 1st UPDATE: Last week, the JPY became the strongest performing currency. The JPY (yellow line) crossed above the USD (red line). When the performance of the USD became weaker than the JPY = The USDJPY PAIR turned down.
Education
by ascension
Trade/Market review for 6/26/24Great day today although maybe not the best conditions depending how you trade. I was able to catch a second chance entry for an Anty setup. Although price did not follow through with the trend, I caught the second leg of the attempted continuation. Price trailed up above yesterdays high and then came to a swift collapse back down below followed by a repeated attempt to break yesterdays high again but failing to do so. Price continues to bounce between yesterdays high and low.
CME_MINI:MES1!Short
by SirBlob
BTCUSD simple analysis: bearish to bullishChart reached 70.25k and went bearish, staying in a state of sideways. This sideways form a triangle which broke below. Watching USD strength, there's a great chance that bitcoin will get even weaker making a bearish trend, but for safety, I don't recommend on selling. D1 timeframe shows that tuesday haves high chance to finish bullish, so if bearish happens, it may only be a bearish shadow and candle may transform to bullish at the end of the day. Hope to recieve boost! This follows up my D1 plan, fifth wave of Elliot Wave. Trade wise 👍.
COINBASE:BTCUSDLong
by Ftradorex
SPY simple chart analysis: following previous post ideaElliot Wave finished forming the A of ABC correction just on the fourth wave of giant minor E.W. D1 t.f.. Two sets of abcde waves finished and builded a complete smaller abc correction, giving open doors for a bullish momentum. Trend still can continue until 300% of E.W. fibonacci. fibonacci is between the 0 and 2 of E.W., starting from 50% instead of 0. It already passed atractive channel giving opportunity for sideways. Note: I sugest to not take this trade if you are starting it😋.
AMEX:SPYLong
by Ftradorex