NZDUSD | Perspective for the new weekIt is fascinating to see how the Key level @ $0.71600 appears to be a decision-maker for traders in the last 30days as Breakdown/Breakout of this level points at the prevailing direction of the price. Looking beyond this... We are now at a juncture in the market where the chart formation that predicts a bullish-to-bearish trend reversal becomes a unique tool for us to make a trading decision.
On the chart is a baseline with three peaks, with the outside two close in height and the middle is highest (Head and Shoulder).
Tendency: Downtrend ( Bearish )
Structure: Reversal pattern (H & S) | Breakdown | Supply & Demand
Observation: i. After making a peak @ $0.73100, Price have continue to risk further decline as it keeps finding Lower Lows.
ii. A significant breakdown of my Key Level @ $0.71600 (Neckline) last week confirms the completion of a Head and Shoulder pattern.
iii. My attention in the coming week shall be shifted to Selling opportunities and the Neckline area shall be the risk limit.
Trading plan: SELL confirmation with a minimum potential profit of 200 pips.
Risk/Reward : 1:5
Potential Duration: 5 to 10 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Breakdown
AUDCAD | Perspective for the new weekIt appears that the rally that began early Dec 2020 has found a reversal point as the appearance of a Double Top structure becomes visible.
Tendency: Downtrend ( Bearish )
Structure: Reversal pattern (Double Top) | Breakdown | Supply & Demand
Observation: i. DT: Bearish technical reversal pattern forms after the price reaches peak @ CA$0.99000 two consecutive times with a moderate decline between the two highs.
ii. The Breakdown of Bullish Trendline @ CA$0.98400 emphasizes a change in direction as price action disregard Trendline.
iii. I shall be patience to watch out for weakness in the strength of buyers at the Demand zone (CA$0.98000) which is also the Neckline for signal confirmation.
iv. Please note that a significant breakdown of Demand zone might see the price go into a correction phase where buyers will try to push the price up from this level one more time; when this happens, CA$0.98200/0.98400 shall be a Sell window for me in the coming week(s).
Trading plan: SELL confirmation with a minimum potential profit of 150 pips.
Risk/Reward : 1:4
Potential Duration: 3 to 7 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
USDCNH | Perspective for the new weekIt has been months since I published any speculation as our last publication on this pair saw us bag over 1,000pips ( see link below for reference purposes).
China is on the brink of launching its CBDC - Digital Yuan. To facilitate its smooth launch, the digital yuan had to undergo several testings. In line with this, the government in Shenzhen, a metropolis in China, has disclosed plans to distribute 20 million digital yuan (approximately $3 million) to the city’s residents... This could be an exciting development for investors as the Yuan continue to rise against the Greenback in recent times.
Tendency: Downtrend ( Bearish )
Structure: Breakdown | Supply & Demand | Trendline | Harmonic (AB = CD)
Observation: i. Y6.95000 level remains my key level as this zone shall be the yardstick for selling opportunity in the coming week(s).
ii. Successful Breakdown of Key level at the beginning of the new year is a sign that the Yuan will continue to appreciate.
iii. Presently experiencing traders profiting from the boom that began the year, a correction into 61.8/78.6% is on my radar for a trading opportunity.
iv. Suspected ABCD pattern parameters explained below;
a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg.
b. The B- to-C leg is at 61.8% currently (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg.
c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move.
Trading plan: SELL confirmation with a minimum potential profit of 1,000 pips.
Risk/Reward : 1:3.5
Potential Duration: 10 to 20 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
EURCAD | Perspective for the new weekWe experienced 230pips run in our direction on my last publication (see link below for reference purposes) on this pair with another trading opportunity building up again!
It is very interesting to observe that the market has continuously made its decision around the CA$1.55700 level since July 2020 which tells me that we can be confident to find a quick trading opportunity on this one!
Tendency: Downtrend ( Bearish )
Structure: Breakdown | Supply & Demand | Trendline
Observation: i. Since on the 22nd of Dec 2020, the price has found Lower lows respecting the Bearish trendline that led to the recent Breakdown of CA$1.55700 followed by a sharp rejection of this level last week.
ii. Considering the significance of our key level; The leg that broke down CA$1.55700 might experience correction back into this level for a decline continuation in the coming week.
iii. In this regard, I shall be looking for a significant level around the Key level/Trendline to find a safe haven for a selling opportunity this week.
iv. Lest I forget, I am looking forward to seeing buyers do quick activities around CA$1.5470 level after which selling opportunity will surface... Be patient :)
Trading plan: SELL confirmation with a minimum potential profit of 220 pips.
Risk/Reward : 1:4
Potential Duration: 2 to 5 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
EURGBP | Perspective for the new weekMy last publication (see link below for reference purposes) on this pair enjoyed 135pips run in our direction before the rally.
Now - Since late December 2020, the EUR/GBP has been rangebound between roughly the GBP0.91150 - 0.89500 level and emphatically respecting a channel. Despite most quarters supporting the appreciation of the Euro considering the unfolding of the pandemic after which Covid-19 concerns in the UK led the country into a stricter lockdown last week... I am looking the opposite with a possible risk of further decline as price breaks down key level @ GBP0.90200.
Tendency: Downtrend ( Bearish )
Structure: Breakdown | Supply & Demand
Observation: i. The inability of price to break above GBP0.91000 level since Dec 2020 insinuates that buyers might have lost the momentum as we witness a Breakdown of GBP0.90200 last week.
ii. Since Breakdown of Key level, a rejection of this level will be my lead in the coming week.
iii. A further Breakdown of Demand zone @ GBP0.89000 with significant candle shall increase my confidence in holding the sell position.
Trading plan: SELL confirmation with a minimum potential profit of 200 pips.
Risk/Reward : 1:3
Potential Duration: 2 to 7 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Breadown of a descending triangle with gap to fill.Looking at a bearish descending triangle that broke below the support line on Thursday. Could potentially buy puts here and target the gap fill. If youre ballsy you can target the measured move from the height of the triangle downward. Not financial advice.
Short ETH/USD Breakdown!BITFINEX:ETHUSD
Evidence:
1. After breakout, horizontal resistance failed to act as support.
2. Breakdown of trend-line that failed to act as support.
3. 4H Rejection to trend-line from the downside, meaning support turned to resistance.
4. Alt-coins showing weakness after XRP breakdown
🚨PLEASE LIKE AND SHARE IF YOU FOUND IT USE-FULL!🚨
*Not Financial Advice. Trade at your own risk*
GOLD BREAK resistance line and continues GROWTHAt the beginning of the week, I made a forecast expecting a fairly long-term growing movement. And as we can see my last predictions come true.
The price first touched the support line 1823.349.
And then she began to grow steadily.
Right now, it has come to the resistance line 1864.526. An important point on the chart, because after the breakthrough of this MV line we can expect good conditions for opening a buy trade - just like after a signal.
I expect that the price rally from the strong support line and the breakout of the resistance line will be able to break the downtrend that has been going on since August this year. After breaking the line, the price will rise. Thus, I expect the final target, as well as from the beginning of this week - the resistance level 1964.664.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
XRP Mocking The BullsPrice has hit .45 as discussed in my last post.
Need to regain the .46 region in the next 50 min to have 4hr candle body to respect trend line. If this does not happen we will continue towards .40, possibly stopping at .42. Bulls or bears could make a big move as we flirt with major resistance/support.
Lowest support we could hit while maintaining bullish structure on the daily and weekly timeframes would be .33 - .34 IMO. If this is a reality I see it as a quick wick down and not an area we will spend a lot of time. We are coming out of a two plus year bear market. Even at .45 you still have 100% gains in a very short time.
Savage volatility inbound.
EURCHF | Perspective for the new weekOur last publication (see link below for reference purposes) witnessed price moving 60pips in our direction to complete a Double Top pattern before the rapid decline. Last publication on this pair I emphasized how the price was caught within a range above major Demand zone (Fr1.07800); Now that price broke down our Key level @ Fr1.07900 last week; I shall be anticipating a further decline in the following weeks.
Tendency: Downtrend ( Bearish )
Structure: Reversal pattern | Breakdown | Supply & Demand | Double Top
Observation: i. Price breaking down Key Level @ Fr1.07900 during the course of last week trading session emphasizes the Bearish tendencies in the market.
ii. I am anticipating the completion of the corrective phase for a signal to open a position.
iii. Fr1.07910 and Fr1.08200 remains a zone to look out for selling possibilities in the new week.
Trading plan: SELL confirmation with a minimum potential profit of 120 pips.
Risk/Reward : 1:4
Potential Duration: 3 to 7 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
EURUSD | Perspective for the new week240pips running in our direction since my last publication on this pair (see link below for reference purposes); EUR/USD has been caught within a range capped between $1.20600 and $1.21600 since price hit a peak @ $1.21780 at the beginning of the month. Considering the completion of a Double Top "look-alike" pattern, a counter-trend opportunity surfaces as a short-term pullback appears to be healthy for the buyers at this juncture to gain enough momentum to push the rally.
Tendency: Downtrend ( Bearish )
Structure: Reversal pattern | Double Top | Supply & Demand
Observation: i. The Bullish run that started mid-November 2020 appears to have found a bus stop (Supply zone) as buyers attempt to push the price beyond $1.2780 is met with rigorous Selling pressure.
ii. A sharp rejection of $1.21600 area on Friday with an engulfing Bearish candles calls my attention to the strength Sellers have at this level.
iii. As price finds a new Supply level @ $1.21350 towards the close of last week trading session, this key level shall be a level to look out for in the coming weeks to open a sell position should in case of price retraces back.
iv. A Breakdown/Retest of $1.20600 shall inspire a second position.
Trading plan: SELL confirmation with a minimum potential profit of 200 pips.
Risk/Reward : 1:5
Potential Duration: 4 to 10 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
GBPUSD | Perspective for the new weekWith over 500pips in our direction since my last publication (see link below) on this pair; The British pound has gotten hit pretty hard during the last couple of weeks after an optimistic rise topped $1.35400 early in the month.
With the growing fears that Brexit talks could collapse, I am anticipating the risk of decline in price in the coming week(s).
Tendency: Downtrend ( Bearish )
Structure: Reversal pattern | Breakdown | Supply & Demand
Observation: i. The last couple of weeks witnessed a price going through Lower Lows which culminated in a Breakdown of Neckline @ $1.32850 last week.
ii. The Breakdown/Breakout of Key level @ $1.32850 has served as a determinant of the prevailing direction of price action since on the 10th of Nov. 2020.
iii. I have noticed that for every Breakdown/Breakout of this level in the past saw price maintained above/below Key level for a couple of weeks.
iv. Looking forward to a possible correction into Key level in the coming week.
Trading plan: SELL confirmation with a minimum potential profit of 250 pips.
Risk/Reward: 1:4
Potential Duration: 2 to 5 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
GBPCHF | perspective for the new weekHopes of Brexit deal wanes again; GBPCHF sinking back towards lows as it finds a haven for selling pressure around Fr1.20300.
Tendency: Downtrend ( Bearish )
Structure: Breakdown | Supply & Demand | Harmonic (AB = CD)
Observation: i. Since completion of Double Top pattern in late Nov. 2020, price continues to risk further decline.
ii. Previous safe haven for Buyers was finally broken last week as price tested Fr1.19100 before making a corrective move.
iii. As price touches 50% retracement of AB leg, a possible Harmonic pattern AB = CD appears to metamorphosize in the coming week(s).
iv. AB = CD pattern shall guide me through the path price action takes in the coming week.
ii. ABCD pattern parameters explained below;
a. Impulse A-to-B will be in harmony with the potential C-to-D leg.
b. The B- to-C leg is at 50% currently (with a possible 61.8 or 78.6% in the future)Fibonacci retracement of the A-to-B leg.
c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move.
Trading plan: SELL confirmation with a minimum potential profit of 250 pips.
Risk/Reward: 1:3
Potential Duration: 1 to 5 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.