EURUSD 6/10/24Starting off the week with euro to the US dollar. I bearish bias came into play as we thought it might. we now have a longer term bearish outlook for this pair. We swept all of the liquidity that was based on the lower end of price action except for the low that we have marked which is relatively close to current price We have an area of supply to watch if we pull back to go lower. We also have a liquid high that's seated above that point. So take into consideration that we may break through the short term trajectory that we have made. this can give us a higher pullback to the upper higher time frame water block if this happens we are still expecting a short main bias here is for the area of supply to be tapped into in price action to sell to the low that we have marked.
Trade safe, stick to your plan and your risk.
Dolalr
GBPCHF Short setup H1 after newsOn this pair, we have a clearly bearish price with an excellent entry point identified around 1.2550. The objective is to wait for a textbook retracement before entering short. I remind you that I am following the Forex48 strategy.
Let me know what you think.
Happy trading to everyone.
Forex48 Trading Academy
USDCHF Short o Long?On this pair, we have a resistance zone at level 0.896, a truly strong area in which the price has already generated over 3 false breakouts. My analysis suggests a short opportunity starting from the highest supply level, or in case of Swiss franc strength, I foresee a long opportunity if the price reaches the 89.00 psychological level and the lowest demand zone.
Let me know what you think in the comments.
Have a nice trading.
Forex48 Trading Academy
USDJPY Ready for the short?On this exchange, we can see a fairly congested market. My idea is that the price may return to the demand zone next week, predicting a stronger yen at the expense of the dollar, which has been losing ground for weeks now. However, the price could also violate the supply zone.
Let me know what you think.
Happy Trading to all.
Forex408 Trading Academy
USDJPY Short or Long?After an initial bearish setup and a short trade closed at 2.5 RR, the market is now showing signs of resistance around 137.70. At this point, I have identified a potential demand zone, which is an area where the price could bounce before continuing its downward trend. However, this zone could also act as a strong resistance before we see the price go even lower. That's why, in case of a short trade, I have set a target price of 132.20.
Let me know what you think in the comments.
Have a nice trading day!
XAUUSDI have highlighted a sell zone and a buy zone that I will use as reference for my profit target. The trade in question is really simple, just tracking the price on the supply area. I opened with a stop positioned above the highest candle within the sell zone.
Let me know your thoughts in the comments.
Happy trading and have a great day.
US30 PREVIOUS STRUCTURE RETESTSimple set up ,broke previous 1st weekly and daily structure to the upside and keeps holding above it so right now after creating a new high price has retested the top of that broken structure so in roder to go long i will monitor this daily candle and see if we can get a daily clsoe above the Mp fib 26160
Double Top? Price could make a double top on a key resistance/pivot area.
We can see a well defined downtrend channel.
If price fails to break resistance, it should look to test the most proximate support; should such support break, a continuation to even lower support areas should occur.
The extension of a bearish impulse would lead to the inferior trendline of the channel.
Best of luck!