Structureanalysis
26.11.24 Morning ForecastPairs on Watch -
FX:GBPJPY
FX:EURCAD
FX:GBPUSD
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
I am travelling to Dubai tomorrow morning and as explained in the video, I will do my very best to get some forecasting posted for you guys!
SOLUSDT Market Structure Update👋Hello Traders,
Our 🖥️ AI system detected that there is an H1 or higher timeframe ICT Long setup in
SOLUSDT for session trade (a couple of Hours)
Here is a session trade idea (since it is near support surface, we should use small lot size)
Please refer to the details Stop loss, Buy Zone,open for take profit.
Next Long entry after retracement in any session.
For more ideas, you are welcome to visit our profile in tradingview.
Have a good day!
Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!
Intel - (Much) Lower from here!NASDAQ:INTC is about to create such a massive higher timeframe candle - a drop is immanent!
Within one month, a setup played out and we are back to beginning. During the past 30 days, Intel rejected the support towards the upside with a move of +25% and immediately reversed the entire move. The monthly candle will close so bearish, I do expect a break below the current short term support, followed by a retest of the multi-year long support area.
Levels to watch: $30, $26
Keep your long term vision,
Philip - BasicTrading
EURUSD / TRADING BELOW TURNING LEVEL - 4H XRPUSDT / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 1.112 .
Downward Condition : With the price holding steady at the current turning level at 1.112 , it is likely to decline towards the support level of 1.108 . If it stabilizes below this level, it could then reach the next target level of 1.103 .
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 1.112 , leading to a rise toward the resistance level (1) at 1.118 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 1.124 .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 1.118 .
RESISTANCE LEVEL (2) : 1.124 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 1.108 .
SUPPORT LEVEL (2) : 1.103 .
TURNING LEVEL : 1.112 .
USDCAD / BREAKOUT ASCENDING CHANNEL - 4H USDCAD / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 1.360 .
Downward Condition : With the price holding steady at the current turning level at 1.360 , it is likely to decline towards the support level of 1.354. If it stabilizes below this level, it could then reach the next target level of 1.350 .
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 1.360, leading to a rise toward the resistance level (1) at 1.369 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 1.376 .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 1.369 .
RESISTANCE LEVEL (2) : 1.376 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 1.354 .
SUPPORT LEVEL (2) : 1.350 .
TURNING LEVEL : 1.360 .
Brace Yourself: Is Gold's Bearish Trend to Continue Next Week!?Key Levels:
Resistance Levels:
$2,480: Recent high, acting as a strong resistance level.
$2,449.525: Previous high, another significant resistance level.
Support Levels:
$2,391.612 (4HR LQZ / TP 1): First significant support level and target point.
$2,348.723 (Daily LQZ / TP 2): Second support level and target point.
$2,289.000 (TP 3): Third support level and long-term target.
Trend Analysis:
The chart shows a clear descending movement from the recent highs, indicating a bearish trend.
The price has broken down from a rising wedge pattern, which is typically a bearish signal.
Indicators and Patterns:
Rising Wedge: The price action formed a rising wedge, and the breakdown confirms the bearish trend.
Price Action: The current price movement shows lower highs and lower lows, which aligns with the bearish trend.
Volume: Consider monitoring the volume for further confirmation of the trend. High volume on down moves indicates stronger bearish sentiment.
Strategy:
Short Positions: Traders might look for shorting opportunities at resistance levels or breakdown retests.
Target Points: The support levels ($2,391.612, $2,348.723, and $2,289.000) serve as potential target points for short positions.
Stop Loss: Place stop-loss orders above the recent highs to manage risk.
Conclusion:
The technical breakdown of XAUUSD indicates a bearish trend continuation. With the price breaking down from a rising wedge and confirming lower highs and lower lows, traders should consider short positions, targeting the support levels mentioned. Keep an eye on the volume and price action for further confirmation and manage risk with appropriate stop-loss levels.
Weekly trade planning sessionHi Traders, this is another episode of charts247 weekly trade planning session. We believe in trade planning because it helps us identify high-probability forex pairs that we should trade during the week.
Below are the indexes based on the 4HR wave structure.
DXY: Bullish Reversal (+ve)
EXY: Bearish Continuation (-ve)
AXY: Reversal (-ve)
SXY: Bullish Pullback (+ve)
JXY: Bullish Pullback (+ve)
BXY: Bullish Pullback (+ve)
CXY: Bearish Continuation (-ve)
ZXY: Reversal (-ve)
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BUY PAIRS: USDCAD, AUDCAD, GBPCAD,
SELL PAIRS: EURUSD, CADJPY, EURGBP, EURAUD
Intel - What is going on?Hello Traders and Investors, today I will take a look at Intel Corporation.
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Explanation of my video analysis:
In April of 2022 we saw a major break towards the downside on Intel stock which was then followed by more bearish continuation of roughly -65%. Then Intel retested a multi year long structure and created a pretty decent bullish reversal and a strong (short covering rally). At the moment Intel just rejected previous structure and is now in a massively bearish market soit is best to just wait for this volatility to calm down.
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Keep your long term vision,
Philip (BasicTrading)
old school market structure reading does it still helpwhen i came into trading the basic thing i was taught by many books or rather many online youtube videos is market structure which i still use till this day and its amazing to see the chart everytime using the same structure and it keeps me from being soo focused on the what will happen rather focus on what is happening now
GBPAUD BEARISH IDEA-Broke previous low
-(4h) demand zone is the target
- Bullish falling wedge pattern is being created on higher time frame (4h)-(D), Take a close look, the target of my trade would be stopping early buyers on short term demand zones ( $$$) all the way to the main (4h) demand. And once price reaches this zone, we will be looking for a long term BUY ---> (BLUE PATH)
I highly anticipate some kind of manipulation since both buyers and sellers are currently strong !
FOLLOW FOR INSTANT UPDATES since
price can react differently!
EURGBP: Insights into Current Market Dynamics (Top Down)Right! I will keep it simple. EURGBP on the weekly timeframe currently resides within a DEMAND zone, indicating the possibility of an upward movement in price from this region. Additionally, on the daily timeframe, price has shown rejection at a supportive level. Furthermore, the hourly chart has transitioned from a bearish to a bullish stance, while the 45-minute structure also presents a bullish outlook. In light of these indicators, it is anticipated that price action will likely find support at the marked demand area as depicted on the chart. Goodluck!
USDCAD's Potential Buy Setup!Okay, Short and Simple! The USDCAD pair on the 1-hour timeframe continues to exhibit a bullish sentiment, with recent market movements suggesting a retracement towards a notable demand zone. This retracement presents an opportunity for traders to potentially capitalize on the upward momentum of the pair. Good luck!
AAPL to verse to upside trending ? LONGAAPL on the 60 minute chart is compared on the superimposed indicator on its own scale the
RSI for a similar time frame. The chart shows that AAPL has sunk to its price level in the
pre-earnings period two weeks ago. At present, price and RSI are running in parallel and
RSI is a litle higher than price while on its own scale. Price is currently near to the running
SMA 200. When I see either price or relative strenth move higher. I will be a buyer. I am looking
for some green on the relative volume indicator to tip me off. I will be watching on a lower
time frame of 15-30 minutes to get a clean entry pay off the spread and get into profits
ASAP.