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Forex-analysis

EURCAD bullish bounce - possible BUYEURCAD is bouncing for a third time from liquidity pool at 0.50fib and confluence level supported by daily 100ema. Starting this week we have risk off tone benefiting safe havens more than risk and commodity currencies. 1.51 area is great support and order block. Nopthing changed much fundamentally, and EUR is still much vulnerable, but money flows tend to support falling currencies inside indecisive sideways market. This pair is interesting since it moves rapidly and has huge volatility moving on average 200 pips approx by daily measure. We still need to confirm bull breakout on 1h and higher timeframes which means this move is NOT CONFIRMED YET! But this gives us an edge over then market knowing sentiment is supporting possible retracement from last selloff. Therefore we can prepare our entries and wait perfect moment to enter. PATTERNS Looking from 4h lows we have double bottom pattern with 4h bullish engulfing candle pattern. On 1h we have hammer candle+ breakout of last swing high and new higher high. POSSIBILITIES: More than 100 pips are on the table for bulls to get decent retracement towards the nearest major swing point (1.53 area of liquidity) where profit taking might occur along with new sell entries. Until then I think it's good r/r to enter the market with low/medium risk.
Long
by fxmonarchy
3
SPX500/H4I didn't take this trade but My analysis seems to be spot on I predicted for the price to match up and with price in the past and clear the imbalance and bounce off resistance and go for the sell down if the price continues to sell down to support then I'll catch the buy or try to place an position in the current sell down. But I will rather be patient and catch a long-term position. If my analysis is not correct it will test the resistance a 3rd time and then follow with a countertrend going up for a buy. ALL FEEDBACK IS APPRECIATED. PLEASE COMMENT IDEAS & QUESTIONS/ ANSWERS :)
OANDA:SPX500USD
by backtestwithshay
EURAUDActualmente vemos como el valor está en un KL diario que además nos coincide con un doble techo, además podemos observar como nos ha roto un trianguo simétrico con lo que tendría que volver al mismo para retestearlo, que junto al rebote que actualmente estamos teniendo en la Daily, el retesteo de la misma tendéncia y el 61% de fibo daily, nos indica como el valor bajará. El único problema que tenemos es que según la estructura de mercado, KL y fibo el valor no tiene que caer tanto como para retestear, con lo que esperamos una caída hasta el monthly y que ahí decida como va a actuar.
Short
by BlazeGP
GOLD IS BAE - I LOVE BAE Gold gold gold, you are so perfect - IF ONLY we pay attention! STALKING XAU/USD has given me an edge, to actually watch these patterns and setups form and COMPLETE (thats important, chart time- chart time- chart time) who would've thought that drawing ONLY obvious lines on a chart would make a picture so much clearer?!... where was this brilliance 4 years ago lol -_- My process: -- drew my OBVIOUS zones in green - (obvious zones as in an area that price made THE MOST drastic turn in the opposite direction on the higher timeframe) -- drew my obvious retracement areas in fuchsia - (obvious retracements as in , an area price revisits THE MOST on the higher timeframe) -- drew my favorite chart patters (ascending triangle, descending channel, bull flag - on the higher timeframe) -- drew my trendlines (on the higher timeframe) Based off me doing these steps I was able to see that: -- PRICE HAS BROKEN OUT OF MONTHLY SYMMETRICAL TRIANGLE (this gave us the trend direction...CONTINUATION UP) -- PRICE IS FORMING AN ASCENDING TRIANGLE ON THE 2HOUR TIMEFRAME AND PRICE SHOULD BREAK OUT ONE OF THESE DAYS (even though I took the trade from the trend line bounce ; P) -- PRICE IS MAKING HIGHER HIGHS / HIGHER LOWS (this confirms the uptrend) -- PRICE PULLED BACK TOWARDS THE 20 /50 EMA (I don't trade when price is far away from the EMA/s) - - Price ended up breaking out of the ascending triangle, but I'm waiting for the 4hour candle to CLOSE -- IF price closes above my RED ZONE I will buy on the pull back towards the zone + 20/50 EMA on the 15 min chart! * * -- IF price closes below the RED ZONE I WONT TRADE it until price shows me that its ready to be BOUGHT again! ( I LIKE TO BUY ONLY) My trade plan for market open. My over all forecast is to see XAU/USD head to the next super key level at 1780.00 - WE SHALL SEE : ) Thanks for reading ** I am no teacher, just someone that fell involve with the markets the moment I saw my first chart. I've been dedicated to find a simpler way. I am here to share my thought process, winning trades and losers. I hope you have a great trading week!** -Lee THE TREND IS YOUR MF FRIEND"
FX:XAUUSDLong
by iiiamalicia
AUDJPYAUDJPY has been moving nicely in a channel since September. Price is currently reaching a weekly supply zone. After drawing the Fibs from the top peak to the retracement area, price looks as if it is headed to the 78.6 area before it decides to turn. I will be looking to take a short either at the 78.6 or 76.125 QP where there are a lot of rejections and a key importance level when you look left. I also See a wick in the 73.768 area which indicates liquidity and a low that needs to be taken out. Key areas I will be looking to TP is the top of each zone as well as the -27 and -67 by the order blocks that are highlighted in purple. 1st TP - 75.124 (70 Pips) 2nd TP - 73.936 (194 Pips) 3rd TP - 73.021 (285 Pips) 4th TP - 71.915 (400 Pips)
Short
by EricDowdell