GBP/JPY Swing Trade Analysis - 08/01/2023
I have been looking at this trade for a number of weeks now and I previously
had been looking for a short entry off a massive liquidation FVG which was
made on the 20th of December. I expected price to retrace to the mitigation
point of this Fair Value Gap. I had multiple confirmations for this entry
however the...
Here we have a GOLD short prediction.
I believe the strength of the dollar will continue and we will see gold melt, this assumption matches my technical analysis so I am confident.
Here we have GBP/AUD reaching a level of resistance.
Price has also reached .71 fib, with also a reading of 2.32 on the william%R indicator, this indicates this pair is very overbought.
I have entered and will be holding un till TP of 250 pips!
Trade Execution – BTC/USD – LONG position
My goal is to hold this trade for several weeks, maybe months. Depending on the fundamentals and technical indications.
Technical analysis –
Bitcoin seems to be once again in a steady uptrend, it has been in this uptrend since 26/07/21-31/08/21. BTC/USD has also been in a overall uptrend since 2016, this shows me it is...
Trade Execution – BTC/USD – LONG position
My goal is to hold this trade for several weeks, maybe months. Depending on the fundamentals and technical indications.
Technical analysis –
Bitcoin seems to be once again in a steady uptrend, it has been in this uptrend since 26/07/21-29/08/21. BTC/USD has also been in a overall uptrend since 2016, this shows me it...
Currently this currency pair is trending down, price has been stalling at the 50 EMA and the 200MA.
This indicates to me that this is a area of interest, I have been waiting for H4 candle to close clearly below these two zones.
As we can see price has broken these zones and an entry has been made.
Currently, price is in an uptrend.
RSI is showing a strong trend.
We can also see that price has bounced off the 50EMA successfully followed by a bullish engulfing candle.
3 reasons for why I am taking this trade, and a engulfing candle for confirmation! I do not see why this trade would not follow through.
Price is at an area of interest, with 153 acting as a strong S/R level. Pair is currently failing to break through and is rejecting.
Waiting for clean break of 152.64 (200MA) for a sell. If pair breaks this level I predict price will fall to 151.60 (100 pips).
Been eying this falling wedge for some time now, I do believe we will see a push to the upside soon.
I am looking for a double bottom and a break of structure before entering. I will most likely add eateries as price climbs through supports.
We have identified structure with the three resistance and supports, for me this is a recent downtrend.
We then have a falling wedge structure formed (And being that it is at the bottom of a down trend this calls for reversal).
Price has broke out to the top side of the wedge however this is not enough for me to enter, I want to see price clearly break this next...
My reasoning for a sell on the currency pair NSD/USD..
I firstly saw that price was stalling at the .5 fib (A respected zone for retracement back to 0).
Next we have price also stalling at the 200MA.
As we can also see price has reached the top of this down trend channel.
Confirmation for me is the Williams%R indicating over brought.
This is enough...
Currently from what I can see, price has broken trend line and retested.
We also have the .38 fib in the same area.
On H1 price has rejected 200MA.
I have ben waiting for candlestick formation, and we have a hammer formed indicating sellers tried to push price down however buyers took control.
We then have a strong bullish candle follow.
This is enough...
Here we have a rectangle consolidation formed at the bottom of a downtrend, whilst this normally indicates a further push down I feel that bears are running out and the bull's are coming into the market.
I will now be waiting for a H1 close above this line for confirmation before entering.
I have previously done analysis on this pair and we are still in a similar situation.
I think it is just a matter of time until this pair shoots up to take profit.
The reasons that I think this are:
A big falling wedge has formed and price has followed it well, price has also broken above the wedge. Breaking and retesting a few times catching out buyers...
This pair has been in a bullish downtrend since April 16th, I have strong hope that it will keep within this trend for a while longer.
Currently price is at the higher side of the trend, with Williams%R showing a reading of 4.17. Which shows me this pair is very overbought and a reversal is going to occur soon.
I am also now going to wait for some sort of...
I am not going to sit here and predict the massive retracement for US30, however I do believe that in the short-term we will see US30 drop and hit the 50EMA.
Price is at a new high and currently to me it looks like price is struggling, with the strength of the dollar I do not see it getting past this resistance.
We also have a spinning top candlestick on the...
The pair has been ranging for some time now.
Price is currently rejecting resistance, indicating bears are becoming stronger.
Looking for a break of structure on the H1 chart for an entry, TP 100+pips!!
