miwealthfx

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Introduction: I've been closely monitoring the GBPCAD currency pair on the 4-hour (H4) chart, and I've spotted a potentially lucrative trading opportunity that I want to share with you all. The market is currently setting up for what could be a significant move, and I'm waiting for a key signal to execute a trade. Engulfing Candle Formation: As of now, I'm...

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In today's analysis, we'll dive into the intriguing dynamics surrounding the U.S. Dollar Index (DXY). The DXY, a key gauge of the U.S. dollar's strength against a basket of foreign currencies, has recently caught our attention due to a notable development: a volume imbalance hovering just above the critical 105.00 level. Volume Imbalance Unveiled: Volume is the...

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Trade Rationale: As previously analyzed, we've entered a long position on EUR/AUD based on strong technical factors. The trade is now officially active, and here are the key details: Technical Analysis Update: Entry: Our long position was initiated , where we identified a strong support level and the 61.8% Fibonacci retracement, which aligns with the Fair Value...

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Analysis Update: In the ever-evolving forex market, it's crucial to stay attuned to changing dynamics. We now turn our attention to a noteworthy development: the looming downward correction expected in the DXY (US Dollar Index), the presence of a bullish Stochastic divergence, and how retail trader sentiment factors into our outlook for GBPUSD. DXY Correction...

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Hello Traders, We're back with an exciting update on our NZDCAD trade! As previously mentioned, we were closely watching this currency pair for a potential bullish opportunity, and we've entered a long position. Let's go over the details. Trade Entry: We initiated a long position in NZDCAD as anticipated when retail traders began selling their positions,...

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Trading Strategy: Long Position Technical Analysis: Market Analysis: We have observed a strong impulse move in EUR/AUD, followed by a corrective phase. This correction appears to be offering a compelling opportunity for a long trade. Fibonacci Retracement: Our analysis indicates that price is currently approaching the 61.8% Fibonacci retracement level from the...

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Hello Traders, I hope you're all having a successful month in the world of trading. Today, we want to bring your attention to what we believe could be the trade of the month - NZDCAD. Let's dive into the analysis. Retail Trader Sentiment: As of now, retail traders are overwhelmingly bullish on NZDCAD, with approximately 82% of traders holding long positions....

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Hello fellow traders, I hope you had a productive week! I was out of the office last week, but I'm excited to be back and share a carefully crafted trade plan for our GBPUSD "Trade of the Month." Let's maximize our potential for success with this comprehensive approach: 1. Wait for Liquidity Formation: Key Point: We'll exercise patience and wait for the market...

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Hey traders, Today, I want to share my analysis on GBPUSD, focusing on some intriguing factors that could impact its price movement in the coming weeks. Let's dive into it: 1. Retail Traders' Sentiment: A Contrarian Approach Currently, the sentiment among retail traders is heavily skewed towards long positions, with approximately 67% holding bullish views on...

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Dollar Outlook Analysis: The Dollar Index (DXY) has shown an upward trend recently, rebounding from the 100.80 level. This movement was anticipated after absorbing sell-side liquidity. The focus shifted toward addressing internal liquidity voids by mitigating them. On the longer time frames like daily and weekly, fair value gaps are present. The projection for...

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Sentiment: Retail traders are currently 93% short on USDCAD. Technical Analysis: The chart shows equal highs (internal buyside liquidity) near the current price level. This indicates a potential reaction to the downside in the short term. Price may then either continue downwards impulsively or correctively. A preference is for a gradual decline (crawl) before a...

miwealthfx

Introduction: In this post, we will outline a potential trading plan for EURUSD based on recent market developments and retail trader behavior. We will take advantage of the rebalance price movement and the presence of liquidity zones, while also considering the retail trader sentiment to make informed trading decisions. Rebalance Price and Efficiency: Yesterday,...

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Introduction: The US Dollar Index (DXY) has been displaying a robust upward trend, but it is anticipated that a correction may be due in the near future. This trading plan outlines key concepts and potential strategies for capitalizing on this expected market movement. Current Trend and Expected Correction: DXY has been exhibiting a sustained upward movement,...

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Trade Plan Summary for EURUSD: Contrarian Approach with Liquidity Dynamics Market Analysis: The EURUSD currency pair is currently in a downtrend, indicating a sustained period of declining prices. Retail Sentiment Contrarian Strategy: Contrary to the prevailing sentiment of retail traders, who are 66% bullish, we will adopt a contrarian approach. Statistics show...

miwealthfx

Hey fellow traders, I wanted to share my trade plan for the GBP/USD currency pair that I've been developing based on careful analysis of current market conditions. The forex market is always full of opportunities, and having a well-thought-out plan can make all the difference in your trading success. Retail Traders Sentiment & Accumulation Phase: Currently, the...

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Price swept Buy side liquidity, Small trade back into the range before Silver bullet US AM session

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Trade Summary: Currency Pair: GBP/USD Trade Direction: Sell (Short) Trade Strategy: Yesterday, there was a significant sell-side liquidity absorption in the GBP/USD market. The price action formed equal lows, indicating a potential consolidation phase. Current sentiment in the market is neutral, suggesting a range-trading environment. The plan is to wait for a...