NZD JPY LONG TRADE (Scalping) wave analysis
market structure
price action
candle pattern
snr breakout
order block
Candlestickpattern
EURUSD is heading towards 1,0090! The breakout of 0,9808 from yesterday, confirms the ascend of EURUSD.
The first target here will be 0,9915, followed by 0,9999.
All long positions must be closed before 1,0090!
It's important to understand, that this is only a part of a pullback from the higher timeframes and we should see a reversal to the downside soon.
This will be valid only if price doesn't break below 0,9725!
Strong Uptrend Pattern!The candlestick pattern indicates rising candlesticks methods, hence, a bullish continuation candlestick pattern that occurs in an uptrend towards the next price resistance. Backed by high-volume support the price continuous movement.
RSI indicates a fresh buying interest in the stock hence the oscillator graph above indexes 50. Thus confirming the price movement.
The OBV and MACD show a continuous uptrend and backed the price movement toward the next price resistance.
Precaution for a price correction between 10%-20% from the recent peak due to short position by the traders.
Let's save TOPGLOV in WL and watch out for significant price movement towards the MA50 line backed with volume.
R 0.780
S 0.630
Important levels for EURUSD We expected more upside movement on EURUSD after the low from last week.
However, it looks like the market doesn't have enough strength and we don't have a reason to buy.
The continuation up will be confirmed upon break above 0,9808.
Before that we could see another drop but right now, we don't have a sell signal either.
That's why we should wait for a better setup before taking a trade.
AUDCAD - Demand ZoneAUDCAD has reach the other end of the Bearish Parallel Channel, it gives counter-trend traders an opportunity to engage the trade.
On a more conservative approach, counter-trend traders could wait for a double bottom with RSI Divergence on the 1hourly chart.
What is crucial in the setup is that the candlestick shouldn't break and close beyond the blue dotted line.
USDJPY-Weekly Market Analysis-Oct22,Wk3Trend Traders you can wait for a buying opportunity when the candlestick pattern touches 147.66 but not close beyond the blue box.
I'm bullish on USDJPY and will be waiting patiently to hop on to the ride.
USDJPY - Bullish TrendlineAdvance trader who can plot a similar bullish trendline and have your alert setting as once per bar close and wait for buying opportunity once the market touches it.
If you face challenge doing that, keep refreshing this analysis until you can see a link under related ideas.
EURUSD-Weekly Market Analysis-Oct22,Wk3Do you agree that the simplest analysis is often the toughest to spot?
I'm looking for shorting opportunity on the red dotted line and buying opportunity on the blue dotted line.
This is 1 of the classic chart pattern and 1 of my favourite that I've been trading for the past 17years.
EURUSD - Bearish Deep CrabA Bearish Deep Gartley trading opportunity may present itself at 1.01285, a completion of this Deep Gartley Pattern is going to invalid the Bearish Channel and that's fine.
This is 1 of the possibility we should look out for.
Engulfing candlestick:Education!!!What is a pattern of engulfing candlesticks?
On a price chart, engulfing candlestick patterns consist of two bars.They are used to signal a market turn around.The second candlestick will be much larger than the first, covering or "engulfing" the entire length of the bar before it.
Is it time to buy EURUSD?We had quite a move last night during the news.
The price collected some stop loss orders and it then broke above the 0,9775 level!
That means we can potentially see a further move up towards 0,9915 and 0,9990.
The idea for an upside continuation is only valid if the market doesn't violate the previous low at 0,9630.
The level of 0,9752 is also an important area where we could see price rejecting.
Respite at Last!The last two weeks in crypto have been comparatively less volatile than the two weeks prior and it finally looks like we’re getting some reprieve. The market operations that the Bank of England started engaging in appear to have been successful in cooling the pound sell-off as it has gained back some ground against the dollar. This appears to have, at least temporarily, brought some calm to financial markets. Subsequently, Bitcoin has remained stable as it has been trading in the $18,000 to $20,500 range. This comes as a welcome change to the large price swings we’ve been observing in recent weeks.
From a technical perspective, it appears that the price of Bitcoin could be approaching a fulcrum point as it is currency sitting right on the $17,600-$18,500 major support range. Bears will be hoping that we lose this range and see another leg down. Losing this range would bring lows that the market has not seen since 2020, likely around the $15,800-$16,100 range, and would result in a bleak short-term market outlook for crypto.
Despite the price of Bitcoin being relatively stable over the past two weeks, the Bitcoin weekly chart suggests we could be primed for some fireworks. The bulls will find solace in the fact that the weekly chart shows a clear example of a falling wedge. A breakout above this wedge could signal a change in market sentiment and allow Bitcoin to rise towards new range highs, allowing the bulls to reclaim some lost ground against the bears. Another bullish indicator that provides support to this idea is the fact that the Relative Strength Index (RSI) of Bitcoin on the weekly chart has been hovering around oversold levels for some time indicating that we could be primed for a reversal and a change in sentiment.
Another important thing to keep an eye on is inflation figures. U.S. CPI Inflation just came in at 8.2% for the month of September, 0.1% higher than the 8.1% that was expected. Although this is just a slight deviation from the expected value, we have seen in recent months how inflation levels coming in even slightly higher than expected can have stark consequences for financial markets, including crypto. It certainly appears that the Fed’s rate rises have done little to drive down core inflation so far and market expectations towards further rate hikes are strong. Meanwhile and despite a slow-down of the pound’s sell-off, markets keep a close watch on what will happen with the growing UK Pension Funds crisis. On a macro-level, things might just about be starting to get interesting.
Either way, whether it’s pain or a gain, it’s likely we will have a clearer idea of what will happen by the time the weekly close comes in on Sunday.
USDCAD - Waiting for bearish breakIf you are waiting for the more conservative approach to short the USDCAD, you might have to wait for a break and close below the rising trendline(red).
Aggressive traders observe how the candles react at the trendline. A break and close below is what you need
USDCAD - Structure BasedA structure-based trade could create an opening for Bat Patterns' die-hard fans. I will watch closely on the candlestick pattern formation to engage on this trade.
p/s: never follow blindly, always do your own analysis
Where is EURUSD going? The ascending move from yesterday didn't have enough strength to continue higher.
Now it's important to see which level will be violated next.
In case of a breakout of 0,9775, then we're probably heading to the parity level again!
However, if the market breaks below 0,9669 then we will have to see how the setup will develop later on.
Trades at current price levels are considered risky and not confirmed!
Important levels on EURUSDWe are still not trading EURUSD and waiting for better entry opportunity.
Current price levels are important to determine what will be the next move.
Right now, EURUSD doesn't give us any entry confirmations but we will be waiting for the 0,9643 level.
In case of rejection around that level, we will have to see if price will gain enough strength to continue higher.
We recommend waiting for further confirmation or pick another pair to trade.
A possible rise on EURUSDEURUSD is currently trading at significant levels that are going to determine the next move.
Right now, we don't have any entry signals and we have to wait.
The downside move that formed on the lower timeframes should end soon.
The first resistance is 0,9803 and once the market breaks out of it, then we could expect further move up.
We also need to look out for support at 0,9710 and 0,9643!
AUDUSD - Bullish ButterflyA potential Bullish Butterfly may form up at 0.6340, NO. By looking at the current candlestick pattern formation, it is more likely for the market to react from the current price of 0.6368.
To most Harmonic Patterns traders is a big No-No for them, but sometimes we have to execute flexibility. With that said, I will look closely at the market movement from 8-10am( GMT +8).
USDJPY-Weekly Market Analysis-Oct22,Wk2In my analysis of the USDJPY Daily Chart, the Bearish Crab Pattern still stands. At this moment it is a Bearish Crab Pattern checkback, which means it is at its best possible price for interested traders to engage this trade with the best Reward:Risk that is possible that happens on the Crab Pattern.
Personally, I'm not that crazy about that because of the prolonged consolidation. I'm more interested in the buying opportunity as I believe that USD still have room for appreciation.
GBPUSD-Weekly Market Analysis-Oct22,Wk2GBPUSD on its daily chart reversed on the Key Resistance level. Counter-Trend traders could wait for a 3-bar reversal on the dotted blue line.
However, that is NOT good enough for me. I will need to see a Double Bottom with an RSI Divergence before I'm interested to engage in the trade.
What is the condition you need for you to get on a counter-trend trading setup like this?
Bearish hanging man in banknifty topBanknifty look very bearish a hanging man is created in banknifty and nxt day candle was open below it and close below it which support bearishness. Our target for Banknifty in coming week was ..
Target 38815 38550 38106 37574 37347
Sl 39475
EURUSD before NFP Today is the first Friday of the month and we will see the publishing of the non-farm payrolls.
This will affect all instruments traded against the USD.
We want to see EURUSD with a clean move and better setups throughout the next week.
Right now, we are not looking to enter before the news!
0,9710 is an important level and if we see the market rejecting it, we will probably see another move higher to 0,9920.
QQQ: Doing as expected, but be careful with this resistance!• QQQ did an Above the Stomach candlestick pattern just above the previous support at $268 (black line);
• This candlestick pattern was triggered, and QQQ is trading at its first technical target at the 21 ema;
• QQQ didn’t trigger the bullish candlestick pattern we mentioned last week, and the moment it lost the $275, it just went down to seek our next target at $268, and it hit it with astonishing precision before reacting again, as we expected. The link to my previous analysis is below this post;
• Now that it is near its 21 ema, we’ll see if this is a Dead Cat Bounce or a meaningful reversal sign;
• If it loses yesterday’s low, it’ll show some weakness and a bearish thesis will gain strength. However, by breaking the 21 ema, a mid-term reversal would have a first target at $307, to fill the first gap (yellow square);
• Either way, QQQ is about to do something interesting;
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
