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USDCAD riseThe pair has continued to rise in the directional bias I have (upward). I'm still expecting price to rise toward 1.28700 and currently holding 2 Trades both in profit with zero risk (SL1 @ +35pips, SL2 @ BE)... I'm deciding how to manage my 2md open entry however so far I'm comfortable. I'm currently waiting for a possible entry to continue according to my Executable entries in my trade plan so I'll be waiting patiently. With CAD news this Wed I definitely do feel confident my TPs will be hit this week, either way all shall be managed strictly according to plan (always stick to the trade plan)
Long
by Serene_Quantum
Don’t shoot the messenger!While there has been much commentary about the US Dollar Index hitting 100.00, we note two things from a technical perspective – the first is a shooting star pattern on the candlestick charts and the second is that the daily RSI has yet to confirm the recent high. This happens when price makes a new high, but the oscillator does not – it is otherwise known as bearish divergence. It generally denotes a loss of upside momentum. The shooting star however is a bit more serious this is a bearish reversal candlestick pattern that typically occurs at the top of uptrends. I would suggest tightening the stops in this one as I suspect that we are going to see some profit taking…. A shooting star is created when the open, low, and close are roughly the same price. Also, there is a long upper shadow, generally defined as at least twice the length of the real body. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
ICEUS:DX1!
by The_STA
EURUSD monthly triangleSince the last 20 years a huge triangle built on the EURUSD. We are on the edge of this triangle. A break higher than the top of the range (1.16500) will follow with the weakest dollar we've seen in a very long time and a massive bull trend. A break below the bottom of the range (1.08000) will follow with a stronger dollar and a much weaker euro. At the moment fundamentals are in favor of continuation of bull trend pushed by huge amount of money printing dropping the Dollars value. It seems for the moment the Dollar lost safe haven status.
Long
by Exactus
XAUUSD @ Crispy Potato28/03/22 COMBINED FORECAST FOR WEEK 5 MARCH 2022 = BULL DAYS OF FEB WEEK 4 OF MARCH FORECAST WAS = BEAR = INACCURATE PROBABILITY FOR NEXT WEEK = BULL This week opened fairly neutral and calm. Monday and Tuesday candle bodies were contained within Friday's body. Wednesday's candle matched Friday's body in the opposite Bull form. Thursday is a slight breakout with Friday producing a doji. Looking at volume the week had an alignment in the decline from the week before. Thursday and Friday saw an uplift in volume. The previous trend support line remains broken and it may result in the support line becoming a resistance line, the probability exists. The OBV is trending slightly upward. Going with just the evidence, it suggests the higher probability is bull for next week. The OBV is slightly up, the support line must be hit to chance to become a resistance line and a slight change to volume intensity. WEEKS OF MARCH WEEK 4 OF MARCH FORECAST WAS = NO ASSESSMENT = NEUTRAL PROBABILITY FOR NEXT WEEK = BULL This week produced a Bull candle inside the previous week's candle, it has formed an Inside Bar. This fits appropriately as the chart is trying to decide what direction to head in. Given the major pin bar and the stock mostly Bullish, the probability of higher prices remains. Volume is dropping off and the pin can mark the end of further price rises. There is plenty of room for many directions. Path of least resistance says to go, Bull, because other than a few minor signals there is nothing calling out a Bear move.
OANDA:XAUUSDLong
by eatmycrispypotato
EURUSD @ Crispy Potato27 March 2022 FORECAST FOR WEEK 4 MARCH 2022 WAS = IN DIFFERENT THE COMBINED FORECAST FOR MARCH WEEK 5 OF 2022 IS = BEAR DAYS WEEK 4 OF MARCH 2022 FORECAST WAS = BEAR = ACCURATE THE PROBABILITY OF DAYS FOR WEEK 4 MARCH 2022 IS = BEAR This week's volume was decent but very consistent across the week. The candle was Bear on Monday mostly body but some tails. Tuesday Bull with tails to the south, same as Wednesday but Bear. Thursday again similar bear candle but this time it is contained in the prior day's trade. Friday finished a falling star. These candles do look to forecast a bigger drop is forming. The probability goes to the Bears The OBV is trending down. WEEK WEEK 4 OF MARCH 2022 FORECAST WAS = BULL = INACCURATE THE PROBABILITY OF DAYS FOR WEEK 5 MARCH 2022 IS = BEAR The volume this week shrank again this time around 30%. The candle was Bear. It is now an "inside bar" The OBV is very bear orientated. A third week ago is the only reason I would give the Bulls a go but the candle this week lets that probability down. This week I see a higher probability for the Bears
Short
by eatmycrispypotato
AUDUSD @ Crispy Potato27/03/22 THE FORECAST FOR WEEK 4 MARCH 2022 IS = DIVIDED ASSESSMENT DAYS PROBABILITY OF DAYS FOR WEEK 4 MARCH = BEAR Monday produced a doji and continued its rally from last week. Tuesday was the largest candle, mostly body some tail on the bottom, and almost none on the top. Wednesday - Friday the candles all Bull but gradually decreased in body size and tails beginning to increase. By Friday we were back on a doji. The volume would be considered average given recent volumes. It increased through to Wednesday and began to slightly turn down by Friday. The OBV is trending Bull. Ther is a resistant point coming up at the $75 mark. This current rally has a steep angle, the candle sizing is waning. A correction seems probable this week. WEEK PROBABILITY OF DAYS FOR WEEK 4 MARCH = BULL This week was a solid Bull candle, mostly body small tails on either side. Indicate little resistance to Bears and next to none for Bull. There is an oversold factor that will begin to play its rolls soon, it will be displayed with tails to the top. As this week approaches the resistance line, it also approaches a support line. This week looks Bull but the resistance can not be ignored. Based on the path of least resistance this week looks like Bull.
by eatmycrispypotato
AUDJPY @ Crispy Potato27/03/22 THE FORECAST FOR WEEK 5 MARCH 2022 IS = BULL DAYS PROBABILITY OF DAYS FOR WEEK 5 MARCH = UNDECIDED This week opened calm. Monday produced a small doji Bull. This is leading on from the three last days, all precise Bull candles almost no tails, convincing momentum. Tuesday is the largest candle of the week, it is a Bull candle no tails. It is bigger than last week. Wednesday is about half size with small tails. Thursday increased candle body again 3/4 of Tuesday, xs tails. Friday produced a Bear hammer, small and contained inside Thursday candle. Top did not break high, in fact, it is almost identical tail and close/open point. Volume was largest on Friday. This indicates oversold is forming, but given the momentum of the Bull run we have a higher probability of a retracement only. This week has a higher probability of many options. WEEK PROBABILITY OF DAYS FOR WEEK 5 MARCH = BULL The Bull candle this week is making the rally angle unsustainable. The volume is declining but is decent. The candle has only x small tails on either end, this indicates very little resistance for Bears. It is probable this week will have a decent tail. A north-facing tail would indicate oversold with Bears having greater influence. A south-facing tail would indicate the Bulls are going to give a few more weeks of effort before letting the Bears take over. Higher probability for Bull .
Long
by eatmycrispypotato
EURUSD @ Crispy PotatoFORECAST FOR WEEK 4 MARCH 2022 IS = IN DIFFERENT COMBINED FORECAST FOR MARCH 2022 = BULL (10/3/22-So far this assessment is incorrect) DAYS WEEK 3 OF MARCH FORECAST WAS = BEAR = INACCURATE PROBABILITY OF DAYS FOR WEEK 4 MARCH = BEAR On week 3 Monday produced a small bull candle, and again on Tuesday. Wednesday increased the volume and the candle body but Thursday and Fridays candles stalled the retracement, no sooner it began. The dropping volume supporting the end of the weak Bull rally. Thursday did close above the previous week's last high point back on 10 March. Fridays candle returned it to below that high. The larger trend is Bear, the OBV fell sharply over the last couple of weeks. The retracement is weak and it is probable the Bear trend will reform this week. WEEK WEEK 3 OF MARCH FORECAST WAS = BEAR = INACCURATE PROBABILITY FOR WEEK 4 MARCH = BULL This week produced the third candle that forms a pattern, this pattern has produced reversals, with good consistency. There is the support that this pattern can become a reversal because it is in the right location of a trend support line. The longer term week trend has been bear, these last few weeks have a steep Bear angle. The volume is lower this week. The OBV is Bear, its lastest angle is steep. A reversal or at least a steeper retracement is possible because steep angles tend to have a retracement that can be traded.
by eatmycrispypotato
GBPUSD @ Crispy Potato20/03/22 FORECAST FOR WEEK 3 MARCH 2022 WAS = BEAR = INACCURATE THE COMBINED FORECAST FOR WEEK 4 MARCH 2022 IS = BEAR DAYS WEEK 3 OF MARCH FORECAST WAS = BEAR = INACCURATE PROBABILITY OF DAYS FOR WEEK 4 MARCH = BEAR (but watch it first) Week 3, Monday produced a Bear candle with no bottom and upward tail. Tuesday produced the Bull candle to Monday's Bear, no bottom with a tail on the top. This is a reversal pattern. This pattern eventuated and the week remained Bull. The volume increased until Tuesday, afterward it gradually decreased. This falling volume indicates the Bull momentum will be tested adding to the test is the long-term Bear trend, and the recent bull week has hit a support line. The OBV is also trending down overall. It is probable the trend will continue Bear but it needs a price action before a Bear is confirmed. A pin bar, shooting star, or two candles of equal size but an opposite trend. Watch and trade only on good price action. WEEK WEEK 2 OF MARCH FORECAST WAS = BEAR = INACCURATE PROBABILITY FOR WEEK 3 MARCH = BEAR Week 3 of March produced a Bull candle and will a mirror version of the previous bear week there is a slight difference. Last week has a small tail. If a tail was missing this would be a decent Bull reversal signal. The volume was down from last week. There is nothing remarkable that indicates the Bear trend is finished or even finishing. The path of least resistance is the downtrend, the 2nd week prior broke its last support line, it appears the highest probability is Bear.
Short
by eatmycrispypotato
GBPUSD @ Crispy Potato27/03/22 FORECAST FOR WEEK 4 MARCH 2022 WAS = BEAR = INACCURATE THE COMBINED FORECAST FOR WEEK 5 MARCH 2022 IS = BEAR DAYS WEEK 4 OF MARCH FORECAST WAS = BEAR = INACCURATE PROBABILITY OF DAYS FOR WEEK 5 MARCH = BEAR The week opened with a small Bear doji type candle, volume would be considered the low side of average. Tuesday was fairly Bull and it continued the uptrend. Volume was also the highest for this week. Wednesday to Friday were all three Bear candles but most of the movement was contained inside the Tuesday Bull candle. A struggle to bring the price down. Volume however did increase to near Tuesday's level. OBV is trending down. The bear signals are more than the bull signals. There is only one Bull signal the two Bear signals increase the probability the Bears will see most of this week. WEEK WEEK 4 OF MARCH FORECAST WAS = BEAR = INACCURATE PROBABILITY FOR WEEK 5 MARCH = BEAR The candle this week was a falling star. While Bull, the candle tail does show the Bears can bring the price down. The volume was lower as well this week about 30% more. The OBV oscillation is increasing, it is Bear orientation. It is not uncommon for this price area to have volatility.
OANDA:WTICOUSDShort
by eatmycrispypotato
AUDJPY @ Crispy Potato20/03/22 FORECAST FOR WEEK 4 MARCH 2022 IS = BULL DAYS PROBABILITY OF DAYS FOR WEEK 4 MARCH = BULL Week 3 of March, on Monday opened a small Bear candle. Tuesday the candle was small bull almost doji. An unremarkable start to the week the chart was still tracking slightly Bull. Wednesday a strong Bull candle was formed and it broke the high back in October 2021. Wed to Frid formed a strong bull rally formation. The angle was quite steep compared to long, if the rally is to continue then we should see the week begin slowly, it will have small candles. A doji, followed by a decent Bear candle then we can expect a week that could be Bear. The probability I see as higher is the Bull. WEEK PROBABILITY OF DAYS FOR WEEK 4 MARCH = BULL This week the Bull candle was exceptional, it is probable some volatility will be seen. it will appear as long tails. Overall this week broke a number of decent resistance levels not seen for some time. Path of least resistance says momentum has been established.
Long
by eatmycrispypotato
AUDUSD @ Crispy Potato20/03/22 THE FORECAST FOR WEEK 3 MARCH 2022 IS = BULL DAYS PROBABILITY OF DAYS FOR WEEK 4 MARCH = BULL Week3 of March, on Monday, produced a Bear candle but on Tuesday resistance was experienced and it produced a small almost doji. The following Wed, Thu and Friday produce 3 bull candles. This Friday closed with a new high again, while it didn't break the tail high it closed high. This indicates this week has a good probability of being Bull start with a taper off toward the end of the week. WEEK PROBABILITY OF DAYS FOR WEEK 4 MARCH = BULL Week 3 of March produced a Bull candle. Its body engulfed the previous week. It has a long southward tail, this is a powerful rejection to the Bears. The volume is lower than previous weeks but this can be expected because the reversal is going to be met with resistance. The current position of the chart indicates resistance will be met somewhere around the 75 mark. The OBV is still trending sideways this demonstrates the resistance that will be met. It is probable this week will hit a key price point, it is also possible but less likely, that it will break it.
Long
by eatmycrispypotato
EURUSD @ Crispy Potato10/03/22 FORECAST FOR WEEK 1 MARCH 2022 IS = Bear (alignment of Day and Week assessments) COMBINED FORECAST FOR MARCH 2022 = BULL (10/3/22-So far this assessment is incorrect) DAYS WEEK 2 OF MARCH FORECAST WAS = NO ASSESSMENT PROBABILITY OF DAYS FOR WEEK 3 MARCH = BEAR This week opened Bear with a high selling volume, signaling Bears have a stronger influence. Tuesday and Wednesday retraced with Bull candles, on Thursday It returned to Bear candles. This signals the retracement has been completed. Friday adds another layer of confirmation of another Bear rally with its Bear candle, note no southward facing tail, meaning the Bear move was in flight at the time of close. WEEK WEEK 2 OF MARCH FORECAST WAS = NO ASSESSMENT PROBABILITY OF DAYS FOR WEEK 3 MARCH = BEAR This week was a combo between a Spinning Top and a Doji. The volume is considered very high (not its highest) The body of this week is contained in the southward facing tail (a small tail). Note the northward facing tail failed at the same open price of the week prior. The OBV is trending down now with an increased angle. It looks like the week opened Bull but was met with an acute failure at 1.11. It then abruptly turned south where it then essentially rain out of days in the week. Assuming this approach would give rise to a higher probability for bear continuation this week.
Short
by eatmycrispypotato