Zones
USD/CAD - Pair Analysis - 1HRUSD/CAD - Trying to apply some new techniques learned from the Trading Academy.
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Question: What could price do at its current level.
Key Point: Look for an area of retracement
Trading Journal Entry #3
- Austin S.
AUDJPY MarkUpThis is my AUDJPY markup that I'll follow 'til 5.10.19. Levels are color coded so there's no confusion since I utilize multiple time frames. I react to levels, so I patiently wait to see certain things take place in the market. *DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
USDJPY Mark-Up for Support & Resistance FX:USDJPY
I’m learning how to color code support and resistance from a Master Trader, BL. This is my first chart mark-up. Support & Resistance color codes are as follows:
Monthly: Black (from 1/1/2016)
Weekly: Yellow
Daily: Red
4 Hour: Green
1 Hour: Orange
15 OANDA:USDJPY Min: Purple
GBPUSD: Go Long!Daily timeframe analysis:
- Price seems to be respecting the upward trendline and forming an elliott wave pattern
- Price has bounced off of the 0.382 fib level retracement
H1 & H4 timeframes:
- Price has broken the trendline and seems to be continuing down
I like to look at the higher timeframes to get a bigger picture of the trend, market patterns and price action.
As always; wait for confirmation candle...
GBPUSD (more detailed analysis)FX:GBPUSD
W1:
We were in an uptrend (red trendline )
which we broke and now acts as a resistance level
D1:
Again we were in an uptrend (orange line) ..again broken acting now as resistance
We also have a descending triangle which is about to break
and a DOUBLE TOP pattern (still neckline not broken)
H4:
We have a triple top (at the above green zone)
Price is currently ranging between the 2 green zones (top & bottom)
So if price breaks down (the bottom green zone) ...we will have a very big shorting opportunity with a lot of pips to be made (of course after a retest of the zone)
if it doesn't...then we buy and set our TP at the above green zone (tested 3 times & trendline confluent zone) FX:GBPUSD
USDJPY short W1:
We are in an impulsive move after the retracement of an uptrend
D1:
We have an inverted H&S at a psychological level (112.00)
which is also a strong Sup/Rez zone
H4:
We can clearly see a couple of Shooting stars/Hanging man candlesticks
which mean that price is retesting the zone but never closing above it
So my view is that price will go down till Fib 61.80% level
which is also a previous support zone
plus keeping in mind that it is a confluent zone between: (a lot of confluence)
-Fib 61.80%
-D1 trendline
-W1 trendline
-previously tested support zone






















