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Failed high, could the USDCAD continue lower?Happy Friday, TradingView community, today’s focus is on the USDCAD after sellers forced a failed high in yesterday’s session. Yesterday’s price action was interesting as it showed buyers had little fight above 1.3350, with weaker oil prices. Philly fed manufacturing index may have also influenced as it dropped to -19.4, well below the -6.0% expected. Let's get back to price and the current trend pattern, as that’s the main evidence I’m following. Yesterday’s failed high maintains a normal trend as the series of LHs and LLs continues. We are looking to see if sellers have control and if they now set a new LL confirming yesterday’s LH and maintaining the series. A move down to 1.3250 that stalls and reverses is a warning. If buyers can break 1.3350 after holding at the support could be a warning of a short-term change in momentum. We want to see a new leg lower from sellers that can test and break below 1.3250 support and the 1.3221 low. This will continue to trend pattern and could tell us that the downtrend has further to run. Traders will also need to keep an eye on oil prices as they could also have an impact on the current picture. Thanks for stopping by. Good trading and have a great weekend.
Short
by Eightcap
4
GBPCHF SHORT MULTI-TF ANALYSISHello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go. . GBPCHF Multi-timeframe analysis Daily view (structural timeframe) : It has broken "Head And shoulder" Pattern on daily. 4 hour (behavioural timeframe) : It has made lower low on 4 hour. 1 hour (entry timeframe) : It has took the liquidity and now has broken a Trendline. . we could see downside continuation movement. Thank You !!!!
Short
by Twobrainztrader
2
EURNZD SHORT MULTI-TF ANALYSISHello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go. . EURNZD Multi-timeframe analysis Daily view (structural timeframe) : It is in "Downtrend" making lower lows. 4 hour (behavioural timeframe) : It has given breakdown of "Rising wedge" with strong bearish impulse. 1 hour (entry timeframe) : It is now in bearish correction and respecting a Trendline. . Wait patiently for breakdown of Trendline and we could see downside continuation movement. Thank You !!!!
Short
by Twobrainztrader
A possible bull flag on EUR/AUD is formingEUR/AUD has caught my eye for a potential long. It posted a solid rally form the August low and entered a retracement phase, so at some point looking for it to turn higher. A potential bull flag is forming on the daily chart, and Friday’s spike lower shows a (failed) attempt to drive the market lower, where is found support at the July (close) high. Yesterday’s low found support at the July high and monthly pivot point, and prices are teasing trend resistance of the potential bull flag. Furthermore, a bullish divergence is also forming on the RSI (2) so perhaps we are approaching a bullish breakout. Also note that large speculators remain net-short AUD/USD futures yet are their most bullish on EUR/USD futures since June 2021. We could look at this as a proxy for large speculators being net-long the euro against the Australian dollar. Bulls could either wait for a break above 1.5352 with an initial target being the 1.5706 to monthly R1 zone. Alternatively, bulls could seek dips above the monthly pivot point in anticipation of a breakout (whilst this increases the potential reward to risk, it also brings the risk the breakout does not occur). A break above the R1 resistance zone brings the R2 resistance zone into focus. A break beneath Friday's low invalidates the bullish bias over the near-term and signals a deeper retracement from its recent highs.
Long
by CityIndex
CADJPY SHORT MULTI-TF ANALYSISHello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go. . CADJPY Multi-timeframe analysis Daily view (structural timeframe) : It has given breakdown of "Trendline" on daily. 4 hour (behavioural timeframe) : It has given breakdown of "Ascending Triangle". 1 hour (entry timeframe) : It is giving bearish correction. . Now we could see downside continuation movement on breakdown of bearish correction on 1 hour. Thank You !
Short
by Twobrainztrader
1
EURAUD SHORT MULTI-TF ANALYISISHello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go. . EURAUD Multi-timeframe analysis Daily view (structural timeframe) : Failed to make new higher high on daily. 4 hour (behavioural timeframe) : It has given breakdown of "Bearish Rectangle". 1 hour (entry timeframe) : It is making "Rising Wedge Pattern" Candle at resistance. . Now we could see downside continuation movement on breakdown of rising wedge pattern on 1 hour. Thank You !
Short
by Twobrainztrader
6
GBPNZD SHORT MULTI-TF ANALYSISHello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go. . GBPNZD Multi-timeframe analysis Daily view (Structural timeframe) : It has given breakout of "Head & Shoulder" Pattern. 4 hour (Behavioral timeframe) : It has given breakout of "Rising Wedge" Pattern with Bearish impulse. 1 hour (Entry timeframe) : It is forming "Bearish Pennant" pattern now. . Wait patiently for breakout and we could see downside continuation movement.
Short
by Twobrainztrader
2
NZDCHF SHORT MULTI-TF ANALYSISHello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go. . NZDCHF Multi-timeframe analysis Daily view (structural timeframe) : Took resistance from "Daily Resistance zone". 4 hour (behavioural timeframe) : It has given "Breakdown Of Trendline" with huge bearish impulse. 1 hour (entry timeframe) : Now it is forming "Ascending Triangle". . Now we could see downside continuation movement on 1 hour breakdown. Wait patiently. Thank You !!!!1
Short
by Twobrainztrader
1
EURUSD LONG TRADE Multi-TF analysisHello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go. . EURUSD Multi-timeframe analysis Daily view (structural timeframe) : it has given breakout of descending channel. 4 hour (behavioural timeframe) : it has given breakout of descending channel with strong bullish impulse. 1 hour (entry timeframe) : it is forming descending triangle. . Wait patiently for breakout and we could see upside continuation movement.
Long
by Twobrainztrader
AUD/JPY tips its (bearish) hand after struggling at resistanceAUD/JPY is one of those currency pairs that can chop around for periods of time, then one day switches on the momentum. And I suspect the market has tipped its hand to a downside move with yesterday’s bearish candle. A resistance zone formed in April between 94.24 - 95.75 in April, where breaks above it have ultimately failed and the resistance zone gets respected one more. Since late October we have seen several failed attempts to break the resistance zone, and a bearish divergence formed on the RSI(2) ahead of yesterday's selloff. I suspect the high is now in place. It closed below the 50-day EMA but found support at the monthly pivot point, so I’m now waiting for a break low to bring 92.89 (call it 93.0) and the monthly S1 (near 92.0 and its 200-day EMA) into focus.
Short
by CityIndex
MH Indicator on GBP/USD Vs. EUR/USD: Intra-day case study5-trade days (26th October 2022 to 01st November 2022), the MH (Market Hedge) Indicator was used to spot the Buying/Selling opportunity in the most correlated currency pairs of the World. In case of pairs trading one asset (GBP/USD) is bought/sold and simultaneously the other asset (EUR/USD) is sold/bought. In Currency trade, the most widely used leverage is 1:100, however, in the present case study, the leverage ratio was kept 1:50 (to be safer). Results: ROI was 57.26% in total of all the trades closed as encircled in the Chart. Out of the total 20 closed trades, only one was closed with losses (only $ 1.67 USD), highest profit from one trade was $ 7.38 USD, closed at 8:30 pm on 28th October 2022. Hence, you may assume the Risk-Reward ratio as 1:20 (0.05). Happy trading with MH Indicator Team, InvestSystemic
by InvestSystemic
Forex Update: AUDJPY, EURJPY continuation watch Hi, and welcome to Monday's update. Today's focus is on AUDJPY and EURJPY. Will we see intraday continuations? Today's video covers the 4H, but these trade ideas are seen from the 6H timeframe. We have confirmation with the CCi making a zero bounce in an uptrend with the MA supporting with an up angle. Price has made a new HL, and the AUDJPY has formed a new HH. We would like to see the AUDJPY break 95.16 to trigger the buy idea and the EURJPY continue to trade above 147.36. If both markets can continue to move higher, we would like to see the E/J break 147.70 resistance and both pair rally back up to test/break last week's highs. If both markets move lower for the next two 4-hour bars, we would see this as a warning and that buyer momentum might not be that strong. So far today, we are witnessing decent buying from the majors to the jpy, so based on the patterns, we are looking for that to continue. Good trading, and enjoy your Monday.
Long
by Eightcap
Trade With The Trend You'll Be ConfidentHey Purpose Trader, Trading with the trend has been the recommended go to for decades of trading. Could it be because there is truth to the actionable statement? I think there is. Let's take NZDUSD here. You nor I know what can happen next, but you and may be able to agree on 1 thing. This currency pair is trending down. What does "trending down" mean? Trending means following and down of course means decrease. When we relate the term to the forex market it means that price is dropping. The last highest price from where the last decrease came from was around 0.58136. Price then decreased to 0.55123 passing the last lowest price of 0.55658. And there you have it! The trend! You know whats cool about this, it didn't take structure to see that. It just took 3 price note tools on the daily timeframe and viola! You have price direction! This makes me interested in the next move this pair can make. If today, price closes bearish, it could give me hope that we may see a new Lower low in the future. This will give a favorable risk to reward so I'm going to roll with it. And just like that we have easy peasy trend trading analysis. I'd love to know if you agree, have a question, can add value, or if you see something different. Let's chat in the comment section below. If you liked the analysis share the post. 😍 Happy trading.
Short
by ShaquanLopez
1
Double Top Or Higher High? What Do You See?Double tops and higher highs can be synonymous to some traders. I believe that is ok, but they both speak to different Technical Analysis. A trader who trades may not recognize the higher high as following the trend, but rejection. Where as a trader who trades higher highs may see the high as buyers pushing the market higher and will wait for a pullback. I created this video to speak to the technical side of both based on a students price chart. He is doing an amazing job simplifying is trading strategy and I loved his POV. Let me shout out my community Trade On Purpose(recently known as Swing Trader Society). You guys are awesome and I'm grateful y'all allow me to help. Let me know in the comment section below. What do you see, a double top or a double bottom.
Long
by ShaquanLopez
1