Top-down analysis on GBPCAD. Key levels & thoughts. Trading plan explained. ❤️Please, support this idea with a like and comment!❤️
Hey traders, This week gold was quite bullish . The market was steadily growing within an intraday 8H rising channel . During the last two days, the price started to slow down. It looks like the market became locally overbought. To catch a bearish move, wait for a breakout of a support of the channel (we need at least a candle close below), then sell...
Hey traders, EURUSD keep trading in a bearish trend . Though on Friday we saw some growth, my bias remains bearish . On a chart I underlined two supply zones from where I will look for shorting opportunities. Being touched I will wait for a confirmation to open a short position. ❤️Please, support this idea with a like and comment!❤️
Multi time frame analysis on EURUSD. Key levels & directional bias. Trading recommendations & thoughts. ❤️Please, support this idea with a like and comment!❤️
Hey traders, As you know I rarely cover indexes, just because most of the time they tend to rally. However, I noticed one peculiar thing that I decided to share with you: Covid crisis & consequent bearish rally started in February 2020. Just in 29 days, the index lost 36% of its value. With multiple stimulus packages, it took 139 days for the market to...
DOTUSD is approaching a peculiar confluence zone: we see a perfect match between fib.retracements of the last two bullish legs and a rising trend line. I will expect growth from the underlined yellow demand cluster. Goals: 17.55 18.4 ❤️Please, support this idea with a like and comment!❤️
USDCHF reached a strong intraday/daily demand zone yesterday. On hourly chart, the price has started to trade in a local bullish trend, setting a higher low and violating a previous lower high level to the upside. Now local intraday bias is bullish and continuation is expected. Goals: 0.9193 0.922 ❤️Please, support this idea with a like and comment!❤️
Hey traders, EURJPY reached strong support. On that, the price has formed an ascending triangle formation. With a violation of its neckline, bullish continuation is expected. Goals: 130.65 130.98 ❤️Please, support this idea with a like and comment!❤️
EURNZD was nicely rejected from a local 4H structure resistance. Even though we saw a crazy swing up, the price perfectly respected the underlined yellow zone and formed a double top on that. Now I expect a bearish move. First goal - 1.671 ❤️Please, support this idea with a like and comment!❤️
Hey traders, A lot of questions about Gold. To me at the moment the market looks quite indecisive: the price is approaching a resistance line of a current horizontal trading range. The future direction of the market will depend on the reaction of the price to that zone. If you are looking for buying opportunities, the best confirmation for you will be a daily...
With a strong bearish rally on OIL yesterday, CAD pairs are nicely reacting. USDCAD formed a high momentum bullish candle on a daily. Approaching a daily falling trend line, the price is currently forming an ascending triangle (classic bullish accumulation pattern). To catch the next swing move, wait for a bullish breakout of 1.25 horizontal resistance of the...
Hey traders, NZDUSD is currently trading within a wide horizontal trading range on a daily. 0.71 - 0.715 is ist resistance. 0.692 - 0.695 is its support. To catch the next directional movement, wait for range's boundaries breakout. Bullish violation will push the market to 0.73 level - the next strong resistance. Bearish breakout will lead to a continuation...
Hey traders, A lot of forex majors are standing on key pivot points right now. Here are some of them that I am monitoring at the moment. 1️⃣ EURUSD - Daily time frame 🇪🇺🇺🇸 1.185 was the previous structure low and a local strong key level. Even though the price attempted to violate that last week, with a strong rejection, a daily candle closed above the...
Have you seen that huuuge red candle on WTI? No doubt, the price reached a key monthly structure, and bears started to push. In order to catch a swing move, keep monitoring a rising parallel channel. For now, its support is the last resort for buyers to buy from. Being broken, it will trigger a strong bearish move. Next supports will be: 72.0 70.0 Remember,...
Hey traders, USDJPY is approaching a support line of a major rising channel on a daily. Taking into consideration that the price is trading in a bullish trend, the underlined point can give us a nice & safe spot for buying. To catch a bullish move, your confirmation will be a bullish breakout of an intraday falling channel on 4H. Wait for 4H candle close...
In comparison to AUDCAD, NZDCAD still looks very indecisive. The price is currently coiling within a horizontal trading range on 4H. Being very bullish biased, I am waiting for a range's resistance breakout (4H candle close above), as a confirmation to buy. Initial goal will be 0.874 In case of a bear breakout of the range, setup will be invalid! ...
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CADCHF is currently accumulating on a strong daily resistance. The price is setting higher lows and equal highs. From a current perspective I see two equally possible scenarios: Bullish In case of a bullish breakout of the underlined yellow resistance cluster, a bullish continuation will be expected to 0.752 - next strong resistance. Bearish In case of a...