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EURUSD Price action and technical analysisPatiently waiting for this set up. The Daily chart is now showing a strong bullish trend . Here you can see on the 30m chart a strong resistance level has been breached, how do we know this was a strong resistance level? Take a look how price reacted to the upper purple zone, we can see price head in to that area before being rejected sharply numerous times. We now know to break this level we are going to need a big push from the buyers, which we have now seen. I will share a chart below showing the volume profile of buyers pushing the price through the upper purple zone. On the other hand we had sellers trying to sell the market back down to the lower purple zone (we know where their stops are right? Yep you’ve got it, all their stops are placed above the upper purple zone) and on this occasion the buyers took control. So why does price push higher so fast? Well you know those stops I mentioned a moment ago, as they get hit they're now essentially buying the market, adding to the buying pressure. So what happens now? well, the big buyers entered lower down, they stacked up their positions and now the market has pushed higher, the market becomes too expensive for them to buy. So how do they get a better price? they wait for the market to drop back down, they let the sellers back into the market, as soon as price looks attractive they can enter again :) This is price action trading, if we see a sharp move back to the previous resistance area then it's not a trade to take, you want to see slower movements back with a slight consolidation around the purple zone before buying in. I hope this helps, feel free to drop me any questions you have.
by TheTwoTraders
Watch for JPM dip to $142Full disclosure...I believe that JPM's recovery from the COVID crash occurred for 1 of 2 reasons, maybe both: 1) They're too good at making money (or not losing it). 2) They're cheating. There are two concerning trends that I would like to point out with this analysis. I'm more inclined to believe the latter due to precedence, which increases the long-term risk for big dips. Yes, they will recover from any selloff, however, this is the reason that I do not like JPM long. The news regarding the soccer super league that would be financed by JPM is a big reason for the dip we are seeing now. Reports (credibility unknown) show that soccer fans are boycotting the bank for all the wrong reasons. If the stock breaks the lower boundaries of the wedge, I can see a selloff to a sub $145 region, which would provide a great buy opportunity, with a $163 price target in mind. The same goes for the upper limits of the wedge. The Head and Shoulders pattern gives me some worry about the possibility of breaking $150, before going below $145. Bold predictions as usual... JPM options usually prove to be extremely lucrative I believe that they are currently overvalued (especially at $160), I would love to hear some reasons for an oppositional opinion. *Share your thoughts and concerns with my views! **Not a financial advisor. ***Don't judge me on my winners. Judge me on my losers, because there are so few.
NYSE:JPMShort
by kambach
2
275 pips EUR/USD swing tradingThis idea I made is based of smart money concepts. There seem to be several confirmations that this trade will go as planned. News affecting the price of the USD is going to be released on Monday too, which is expected to be good for USD. This reinforces this trade as the USD being stronger will make the EUR/USD pair go down in price in a faster amount of time. I will probably hold onto this trade until maximum early May. STOP LOSS - 31 pips TP1 - 150 pips TP2 - 275 pips
Long
by UnknownUnicorn7691653
4
EURGBP [LONG] Institutional TradingLooking at the chart, we have seen within the blue box 4 touches of this level. This is filling the retail traders with confidence that a breakout below which is what's just occurred will continue that trend. Nice long candle this morning clearing the liquidity on buys and now that people are putting on sells they will push the price back up to clear those stops for further liquidity then onto reaching equal highs. The pink box I've drawn indicates the money they will need to get back at some point so could see this as a long term trade up to that point. TP#1 is the first green line TP#2 is the second
Long
by dc95