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📈 AUDJPY: Analyzing Upward Momentum and Potential BreakoutHello fellow traders! Today, let's delve into the FX:AUDJPY currency pair. Here's the breakdown: 🕰️ Timeframe Analysis : The pair is predominantly exhibiting upward momentum on the 4-hour chart, showcasing a bullish trend. ⚖️ 1-Hour Chart Dynamics : However, a closer look at the 1-hour chart reveals an attempt to break the support trend line. A potential breakout is in the cards. ❌ Caution on Breakout : Despite the attempt, there's a likelihood of a fakeout, suggesting a failed breakout. Keep a watchful eye on this development. 📈 Opportunities for Upside : Notably, there are opportunities for an upward move, with support levels evident. I've marked anticipated future upward movements with yellow candles. ⚠️ Risk Disclaimer : This analysis is not a guaranteed trading signal. It's crucial to conduct your research and analysis before making any trading decisions. 🤔 Your Analysis : How are you interpreting the AUDJPY movement? Share your insights and strategies with the community. 👋 Until Next Time : Remember, always trade responsibly. Thank you. See you in the next post! Best regards, Alpha Trading Station
Long
by AlphaTradingStation
EURUSD Trading plan with the 1.09300 Resistance in focus.EURUSD gave us a successful buy signal last time (see chart in the end). Today it crossed and closed a candle (4h) under the MA50 (4h) for the first time in 2 weeks. This creates the potential for a Triangle pattern, negating the Channel Up. Trading Plan: 1. Sell as long as the price is closing under Resistance (1). 2. Buy if the price closes (a 4h candle) over Resistance (1). Targets: 1. 1.07400 (Pivot Zone abd MA50 1d). 2. 1.10325 (Resistance 2). Tips: 1. RSI (4h) rebounded on its Rising Support but is struggling to break its MA line. This is critical, failure to do so adds selling pressure. Please like, follow and comment!! Notes: This is a continuation of this trading plan:
by TradingBrokersView
5
EURCAD: Buy opportunity on the HL trendline and 4H MA200.EURCAD nearly touched the two month HL trendline and the 4H MA200 today. With the 4H technical outlook on the red (RSI = 33.840, MACD = 09.994, ADX = 36.630) this is a strong buy opportunity on a one month time frame. The RSI getting oversold and rebounding, is following the path of the February 10th Low which rose slowly to nearly the 1.382 Fibonacci extension. We are buying, TP = 1.050500. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
5
Short Selling Opportunity Ahead: AUDCAD Analysis | 4h chartHello traders, As you can see in my previous post the resistance level reached and profit target hit. Now again short selling opportunity on the horizon. Wait for the OANDA:AUDCAD to close below stable support (0.91200-0.91500) and test resistance before opening short position. Avoid long position due to downward trend and high supply. Thanks & regards, Alpha Trading Station Disclaimer: This view is for educational purpose only & any stock mentioned here should not be taken as a trading/investing advice. We may or may not have position in the stocks mentioned here. Please consult your financial advisor before investing. Because Price is the "King of Market".
Short
by AlphaTradingStation
EURUSD Closing below the MA50 1D. Bearish unless..The EURUSD pair will most likely close the day below the MA50 1D for the first time since November 3rd. Parallel to that it is possible to close below this three month Channel Up structure. This sequence gains bearish momentum which can only be negated with a break above the MA50 4H. Trading Plan: 1. Sell if the price closes below the MA50 1D. 2. Buy if it closes above the MA50 4H. Targets: 1. 1.10800 (representing a +3.90% rise). 2. 1.0500 (Support 1) and if the price fails to break the dotted Channel Down, extension to 1.03350 (MA200 1D above the Support 2). Tips: It is always a short term buy for quick profit when the RSI breaks above the MA (white line). Please like, follow and comment!!
by TradingBrokersView
9
USDJPY Still downward channel but bullish signal emergedThe pattern on the USDJPY pair is a Channel Down since the trend reversed on October 21st. As long as the price stays inside this Channel, the trend will remain bearish with each lower Fibonacci level a potential target. The MACD though has pushed the first major buy signal of this downtrend as it made a bullish cross last Friday. As a consequence, if USDJPY breaks above the Channel Down, we will most likely see a (counter?) rebound to the 1D MA100 (green) and 1D MA50 (blue). This will be the most important test to see if this new bearish trend will be sustained. Break above will invalidate it, rejection will confirm it. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ## ## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
by InvestingScope
AUDCAD forecastAfter the persistent bearish channel the market started to move in a volatility contraction pattern to the upside... Now we’re currently at a pretty much significant area, from here we wait for price to slightly violate this liquidity zone to price 0.91385. After the retracement then we should expect an aggressive bearish movement targeting price 0.87583 which is our stop order... However, we might as well embark on this trade because it’s going down already. Our stop loss is already in place for a safer trade...
by tokelohomi
Characteristics of Currency PairsHey Guys! Here are some characteristics of currency pairs that I noticed over the years. Perhaps it'll help you find the pairs that best fit your trading style, or perhaps you can use this information as an add-on to your current strategy. Gbp/Usd - Tends to overshoot key levels. - Can use to get better risk/reward. Both on entries and targets. - Can expect many fake breakouts; where key higher time frame levels may be broken on the lower time frames but fail to break out on the higher time frames. Eur/Usd- Tends to accurately respond to key levels. - Can be used for tight stop loss placements for there is no need to add a couple pips for wiggle room on this pair. - Especially on this pair, remember to enter/exit without being greedy or scared. Due to the response accuracy at key levels, price will not give you a second chance to enter a trade or take profits. Usd/Jpy-Tends to have huge moves without price confirmation.In other words, price gets forced up or down by a higher power for months at a time. - Can use to ultimately enter counter the initial direction of the forced move; expecting price to return to fair value. - Can use this characteristic to ride this forced move while not requiring price confirmation for your entry. Usd/Chf- Tends to have false break outs. - Especially on this pair, remember to watch the lower time frame's price action to make sure the break out is legitimate. Eur/Jpy, Aud/Jpy, Gbp/Jpy tend to form trade set ups simultaneously. - If you notice a strong move occuring on the eur/jpy, pay attention to the aud/jpy and gbp/jpy for possible trade opportunities and visa versa. That's it! I hope this helps! Ken
Education
by TradingForexPriceAction
3
AUS-USD (uptrend)Quick Trading Journal Entry: Uptrend expected, to the upper line on the orange rectangle-condensed trading zone (resistance at the blue horizontal line, 0.76417 ). Major resistance at red horizontal line (0.78422). Expected peak of the uptrend, around: October 31st , with the relative strength index peaking at the 80% marker. The R.S.I also broke out of a long downtrend (green line). Breaking above 0.78422 would be unlikely , since the R.S.I at the point would be overbought, above 80%. Divergence is a possibility, with a peak around November 10th. Trading is expected to stay within the purple parallel lines though, for both the Price chart and R.S.I Chart. The pink circle on the relative strength index could predict an "M" bearish pattern signifying a possible immediate downtrend.
Long
by marcosdaunte
GBP/USD (GBPUSD) will bears attack for more price reduction ? GBP/USD (GBPUSD) has ended impulse wave sequence A from last swing low 1.22526 to 1.25287 and started correcting it as expected previously. It completed the a wave down of B as abc correction. Wave b is under progress and may take more time to complete in 10 min time frame. Thereafter c wave will start to fall again to complete the whole B wave. The invalidation level of 1.25287 will be stops for sell trade and probable target of B wave correction will be 1.23892 - 1.23757 zone. Keep eye on internal b wave to end to get in to.
Short
by EWFcw
AUDUSD critical point for this Bull Move!AUDUSD 15 minute time frame - From the chart we can see that we are testing a recent resistance zone that has formed a short term range in this currency pair. Our Elliott Wave Indicator Suite has currently labelled the wave 1,2 and is at a wave 3 high at the resistance zone. Our special False Breakout Stochastic now has yellow dots on the overbought zone, denoting a strong Bullish Bias to this move. Two Scenarios to trade here... 1. The price breaks though the current resistance zone leaving lots of fresh air up to 0.7600, where the next resistance zone is located. So the trade idea would be to trade the 3rd wave continuation, if we get the breakout, and then wait for a wave 4 pull back into out live pullback zones. Then trade the 5th Wave to our automated 5th wave target zone, which will be printed when wave 4 is confirmed. 2. If this resistance level is too much and we get a retracement as a wave 4 into our high probability pullback zones, along with a crossover of our false breakout stochastic in the oversold zone combined with Oscillator pullback. Then we would look to trade the 5th wave into our automated target zone that will be printed on confirmation of wave 4. Either scenario would be high probability, but in our opinion the better trade setup would be option 1 as we get to trade the potential Bullish trend twice today.. Take a look at the video tour of our Elliott Wave Indicator Suite for the TradingView Platform >>>HERE<<<
Long
by xBratSoftwareSolutions
USDPLN: Long opportunity within a 1D Megaphone.The pair is trading within a 1D Bullish Megaphone pattern (RSI = 63.428, MACD = 0.027, Highs/Lows = 0.0246) since the late June bottom. On September 13th it even tested and held the 3.90000 1D Support which is more than enough (along with the 1D MA50) to sustain this uptrend. Our goal is the 4.10000 1M Resistance which has been holding since the Lower High in March 2017. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope