Discussed supply and demand zones where I expected market to form decent trading setups. However not much to do on this market till we have a significant breakout and close to confirm a direction and trade along side it, on hour 4 we see a symmetrical triangle/pennant like structure in which market is consolidating back and forth and on the day time frame just...
Looking for shorts around 1.3933 with stops around 1.3997, targets @ 1.3845 & 1.37665
Reasons to consider this trade setup
=> Trade Setup has decent risk to reward ratio.
=> Day time frame close last week was bearish.
=> Price found sellers at weekly resistance level @ 1.3980
=> Short term selling makes sense since on hourly time we have chart pattern (rising...
Short GBPCAD @ 1.7123 & 1.71097
Targets @ 1.7062 - 1.7056
Stops @ 1.7166
If you choose to take this trade manage your risk and trade wisely. This is in no way trading advice. Trade at your own risk and make sure to not risk more than 1% to 2% of your equity
Entered a short position on GBPJPY @ 154.07 & will look to short more around 154.18. Stops above 154.55 and targets @ 153.60-153.64.
If you choose to take this trade manage your risk and trade wisely. This is in no way trading advice. Trade at your own risk and make sure not risk more than 1% to 2% of your equity
GBPUSD climbed quickly upwards to 1.3939 earlier in London session and took out retail short trader positions, who had placed their shorts right above the Fridays high. While this takes other traders out of the market an opportunity is brewing right as the pull back pressure seems to be calming down. If you like what you see, give it a thumbs up and comment what...
Looking to buy GBP against the green back in an area of support zone where market has tested the zone a few times already, Shorting doesn't make sense until the trend has indeed changed and reversed which so far is not the case so we will look to buy around 1.4080-1.4090 with stops under 1.4060 and targets @ 1.4180 & 1.4240
Looks like Bnb is making a decent recovery after losing its gains.
Reasons To Consider A Long Position on Breakout & Close.
1. Potential Inverted Head & Shoulders Pattern Formation.
2. Trend Line resistance from 12th May might break after retest.
3. Decent Risk To Reward Ratio. RR 1:1.5 Short term. RR 1:3 Long term
4. Long Term Bull Structure above lows @ $186-$218.
Bitcoin has finally tested its 200 Day moving average dynamic support level. Which was I something I was quite looking forward to. Seeing as its quite oversold. I am looking at a Key support zone @ $38K - $39K (200 DAY SMA). If price stabilizes and consolidates here it will be a good sign & give Bitcoin a breather in short term. Carefully keep an eye on where...
Reasons You Should Buy
1. Price trading well above 200 day moving average.
2. Price consistently posting higher lows & higher highs.
3. Decent volume.
4. Price weekly close was above 1.40 psychological level.
5. Good Risk to Reward ratio.
Long GBPUSD @ 1.40
Targets @ 1.4140, 1.4230, 1.4340
Stops @ 1.3870
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Key reasons to look for longs.
1. Price consistently forming higher lows & higher highs.
2. Price holding well above 200 Day Moving Average.
3. Price broke and closed above and held above the Trend Line Resistance from 6th of January 2021.
4. Decent price action & volume.
5. Good Risk to Reward Ratio.
Buy Trade Setup
Long @ 1.2060
Targets @ 1.2180,...
For Short term looking for longs on breakout and close above 1773. Once price reaches 1784 look for short setups.
Long above 1773
Target @ 1782
Stops @ 1767.5
Risk to Reward (1:2.3)
Sell @ 1784
Target @ 1763
Stop @ 1791
Risk to Reward (1:3.2)
Going long on ATOMUSDT. The pair is trading well above 200 Day SMA on both H1, H4 and Day Timeframes. We have pulled back into a dynamic area of support and now price is looking to push back higher. Key areas for a retest are 24.40 , 27.40 & 28.50
Targets @ 24.40 & 27.40
Stops @ 21.00
Looking to buy XAU/USD from demand zone area.
Entry @ 1763
Target @ 1782 & 1798
Stop @ 1756
Reasons to Consider Long
1. Price Holding Above 200 Day SMA on 4H TF
2. Price Trading inside descending triangle with a multi tested support zone.
3. Consistent series of higher lows and higher highs.
4. Decent Risk to Reward.
If you enjoyed reading and agree with...
Binance Coin Market is trending pretty well and technically has valid and strong reasons to be pushing higher
1. Price trading above 200 Day SMA
2. Price continually posting higher highs
3. Dynamic Demand Zone is very close to 200 Day SMA
4. Buying dips here @ 425- 460 seems like a good zone for long positions