Candlestick Analysis
Short EUR/AUD setup looking for retest of 1.6000Thursday's bearish engulfing candle has seen the price move below 1.6188, a level that has acted as both support and resistance over recent weeks.
If the price can remain beneath this level into the European open, consider shorting below with a stop above for protection.
The initial target would be 1.6115. If that were to give way, a retest of 1.6000 could be on the cards.
Good luck!
DS
Gold Breakdown: Today’s Metrics and Analysis 18-OCT-2024Gold trading insights: Not signals, but informative zones to aid your decision-making. Please note: These zones are not trading advice. Use them as a starting point for your own analysis."
Smooth sailing… ok not reallyThis sell followed the others… I had volume profile on but I changed it for the
Peak.ex4 indicator
Support resistance is superior to volume profile
Break retest
Supertrend sell
MacD
Game over
Still selling off resistance plus oversoldHigher low higher hi- trend with candlesticks
Overbought MacD and RSI
Peak indicator peak.ex4
Resistance holding
Moving average + Bearish big candlesticks
Nasdaq Breakdown: Today’s Metrics and Analysis 18-OCT-2024Good morning, traders! As a seasoned price action trader, I'll share my Nasdaq insights to help you improve your trading skills.
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WTI crude hints at cheeky bounce to $72WTI has fallen over 11% in seven days, and the loss of momentum around $70 could appeal to bullish swing traders. We're not looking for anything heroic here given the mixed signals on futures positioning, but it might be able to deliver a cheeky bounce higher over the near term.
MS.
Long Wick Candle on Trend lineAPE has a long wick candle on an upward trendline and key level. Very risky but something to keep an eye on.
SPX Hitting Extreme Resistance Level - Epic Crash imminentBack in October 2021 I attempted to project a fibonacci ration that would predict the top of the current market cycle from the bottom of the 2008/2009 crash. I used smaller fibonacci rations such as the 236 and 146 to identify where a fibonacci from the top would end up. The result was approximately 5814. We passed this level this week and there is weakness showing. I believe this week ends with some type of abandoned baby pattern then we see the drop. I'm not sure what this corresponds to on a fundamental analysis level, but this one will be big. This would end a 5 wave elliot pattern Super Cycle from the 1920's crash where the 4th wave was the 2008/2009. Good luck everyone!
EURAUD: Bearish Move From ResistanceThe EURAUD currency pair formed a distinct double top pattern on the 4-hour chart after testing a key horizontal resistance level.
Today's economic data release triggered a price drop, breaking below the neckline of the pattern and confirming a bearish trend continuation.
The price is likely to continue downward, possibly reaching the 1.6127 level soon.
EURNZD: Time to Fall?!EURNZD has established a cup and handle pattern and has broken through its neckline on the 4-hour chart.
This breakout confirms a Change of Character (CHoCH) and indicates a potential bearish reversal in the near term.
The price is likely to decline, potentially reaching the support level at 1.7807.
"EUR/AUD may rise from this level.""EUR/AUD may rise from this level."
As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one.
Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers:
Thanks!
EURNZD: Time to Fall?!EURNZD has successfully formed a cup & handle pattern and has broken through its neckline on the 4-hour time frame.
This violation confirms a Change of Character (CHoCH) and suggests a potential bearish reversal in the near term.
The price is expected to decrease and potentially reach the support level at 1.7807.
Gap filled on GBP/CHFAs I said yesterday there was a gap to fill on this pair and today it was filled.
EURAUD: Bearish Move From ResistanceThe EURAUD currency pair showed a clear double top pattern on the 4-hour chart, following a test of a significant horizontal resistance level.
The release of today's economic data caused the price to decrease and break below the pattern's neckline, confirming a bearish trend continuation.
It is likely that the price will continue to move downwards, potentially reaching the 1.6127 level soon.
Usdcad could experience a significant drop in the coming daysUsdcad could experience a significant drop in the coming days.
As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one.
Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers:
Thanks!
"Nasdaq could experience a significant drop in the coming days.""Dear everyone, NASDAQ may decline in the next few days. I'm currently in two trades."So let's see how things unfold."
As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one.
Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers:
Thanks!
GOLD (XAUUSD): Bullish Trend ContinuesAs gold reaches new record highs, we expect continued market growth.
The market has successfully surpassed a resistance level identified by previous highs and closed above it.
The Index displays strong potential for further increases, with the next resistance level set at 2700.
Trade Recap: AUDUSD - LONG, 17/10/2024AU Bias Analysis: Price mitigated a 1W FVG and was deeply discounted on the 1D timeframe and although still trading in a counter-trend on the 4H, we saw a displacement higher which formed a 4H bullish order block and established a 1H bullish range. Price protracted lower into EPD and the 1H FVG where I waited for entry confirmation and executed.
Grade: Valid
What I did well or could've done better:
- Executed before market close out of a little bit of FOMO as I was waiting for a meeting to begin. I should've Waited for the 15M candle to close before executing the position.
- Regardless of not having a strong conviction in the trade, I executed a position which fit the plan but wasn't picture perfect.
- Managed my positions well and closed manually once phase 1 target was achieved.
GOLD (XAUUSD): Bullish Trend ContinuesAs Gold continues to reach new record highs, we anticipate further growth in the market.
The market successfully broke through a resistance level based on previous highs and closed above it.
The Index shows promising potential for further increases, with the next resistance level at 2700.
Gold Bulls in Control: New ATH Expected SoonAs discussed in Monday's analysis, Gold is likely to reach a new all-time high this week, and I still hold this view.
After a brief dip that corrected last week's gains, the bulls regained control.
At the time of writing, the price stands at 2677, surpassing the local resistance level of 2667 and nearing the previous ATH of 2685.
My strategy remains to buy on dips, and in terms of targets, we could see Gold trading above 2700 in the coming days(if not even today)
GBPUSD Short Market structure Bearish on HTTFs DW
Entry at Daily and Weekly AOi
Weekly rejection at AOi
Previous Weekly Structure Point
Daily Rejection at AOi
Previous Daily Structure Point
Daily EMA retest
Around Psychological Level 1.31000
H4 Candlestick rejection
Levels 8.46
Entry 100%
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Christ is King
