Forexmarket
NZDUSDNZDUSD analysis
1 hour time frame
The price can move up to the top of its 1-hour range and continue to fall from there.
USDJPY on SupportUSDJPY is on supporta nd grab liquidity from here then we can see upside move and take tp around 0.5 FIB level.
Manage your risk accordingly.
EURUSD#EURAUD
Time frame of 4H
RR: 15
If the price reaches our entry point, we can enter with capital management
USD/JPY: Ride this Third wave Decline.The decline from 160.24 high subdivides into five waves. This move is significant as it identifies the dominant trend as down. The technical name for this pattern is a leading diagonal.
The subsequent three-wave price action unfolding in USD/JPY supports this bearish conviction. Countertrend price action commonly subdivides into a three. It is often slow, choppy and typically contained within a parallel channel. The technical name for this rally is a Zigzag pullback.
As illustrated earlier in my education ideas, in zigzag formations, the upper boundary of a parallel channel often projects the end of wave C with dramatic precision.
Moreover at 158.52, wave C would equal the length of wave A which is a common Fibonacci relationship in zigzag formations.
It is also the case that when a leading diagonal occurs in wave (1) position of an impulse, it is sharply retraced by a zigzag correction with 61.8% and 78.6% levels common targets. Although not shown,the 78.6% retracement level corresponds to the upper boundary of the trend channel and wave C equality target.
So in anticipation of wave (3) decline; a trader's bread and butter, the recommendation is to short at or near the 61.8% retracement level. The Protective Stop will be placed at 160.24; the origin of this decline. Why? Wave (2) of an impulse can NOT retrace more than 100% of wave (1).
The target for this trade is a drop of at least 13.58 as in (160.24 - 151.83) X 1.618. Why? As a guideline, wave (3) of an impulse often extends and commonly travels 1.618 times the length of the (1). A Risk: Reward of 1:3
Working with 153.60 as our key level. A break below this level would hint that wave (2) is over and wave (3) to the downside is underway.
Have a profitable trading week!
IDEA FOR XAUUSD / GOLD www.tradingview.com
On the 1-hour chart (H1), XAUUSD is moving within a bullish falling wedge pattern that is set against the backdrop of an ascending channel. The price is currently challenging the upper boundary of the wedge and the resistance level at 2420.
- On the upside: Should the price break above the 2422 resistance, the subsequent target is anticipated to be at 2450;
- On the downside: Conversely, if a downward correction takes place, the price might break through the 2408 support, potentially aiming for the 2397 and 2378 levels.
How to Confirm an Elliott Wave Count.Hello fellow traders, today I would like to show you how to apply a Kennedy Channeling technique (by Jeffrey Kennedy) to identify and confirm Elliott waves with more confidence.
1. Base Channel:- Wave 3 identification
When wave 2 is complete, connect the origin of wave 1 and the end of wave 2. Draw a parallel line along the top of wave 1. As long as price action stays within this channel, you can consider price action corrective, probably wave C of a Zigzag. In a bullish trend, prices ought to break above the upper boundary line of this channel for wave 3 count to be acceptable.
2. Acceleration Channel:-Wave 4 identification.
Connect the extreme of wave 1 and the top of wave 3. Draw a parallel line starting at the bottom of wave 2. Only after prices break through the lower boundary line of the acceleration channel, could you be convinced that wave 3 is over and wave 4 is unfolding.
3. Final Channel:- Wave 5 identification
Connect the end of waves 2 and 4. Draw a parallel line along the top of wave 3 to project wave 5 target. It is quite common for wave 5 to terminate upon reaching the upper trendline of the final channel.
That's all for today. Trade wisely!
Want to spot a turning point in trend before it happens?Want to spot a turning point in trend before it happens? Use Elliott wave parallel channel
This chart shows the GBP/JPY currency pair using monthly candlesticks. The advance from Sep 2011 to June 2015 can be labeled as an impulse wave (A). From that high, the pair declined in three waves labeled as wave (B) of a Zigzag A-B-C correction with an expanding diagonal characteristic in the C wave position.
As a rule, in a Zigzag rally, wave B notably terminates above the origin of wave A. When wave (C) advance of a zigzag rally is in operation, we can forecast where wave (C) might end.
We can use Elliott wave channel projection by connecting the origin of wave (A) with the end of wave (B) and then drawing a parallel line from the end of wave (A). As a guideline, the resulting channel gives us a potential target for the wave (C) endpoint.
Moreover, we can also use ratio analysis to improve the odds. As a guideline, in Zigzag formations, wave (C) commonly ends after traveling the same length as wave (A). Observe this level corresponds with the Elliott wave channel projection.
This cluster of evidence hints at wave (C) advance from Mar 2020 is in late stages and that prices are approaching a major top.
GOLD NEXT MOVE www.tradingview.com
If the price break below 2360, the next target will be at 2349/2348, other senario if the price get rejected from the previous support level he can bounce up to reach the 2400 level.
Understanding the Technical Bullish OutlookTechnical analysis of gold also shows bullish prospects. Gold prices have charted an ascending widening wedge pattern since 2016, starting from a low of $1124.30. This pattern is often recognized for its expanding trend lines and suggests increasing volatility and bullish sentiment as price makes higher highs and lows.
Furthermore, another bullish pattern has emerged within this ascending expanding wedge pattern: the formation of an inverted head and shoulders pattern, often considered a reversal pattern indicating a transition from the market price reduction to price increase. The head of this pattern formed at $1622.20, with shoulders completed at $1673.30 and $1810.80.
The key aspect of this pattern is the break above the neckline at $2075 in March 2024, signaling a strong long-term breakout. This breakout is significant because gold prices have stabilized below the key pivot point of $2075 for several years. A successful breach above this level suggests a potential rally to $3000, marking the initial target set by the ascending expanding wedge pattern.
💵 SELL OANDA:XAUUSD 2365-2367💵
✔️TP 2355
✔️TP 2345
❌SL 2375
💵 BUY OANDA:XAUUSD 2340 - 2342💵
✔️TP 2350
✔️TP 2360
❌SL 2333
USDJPY Looking for correction ??The USD/JPY pair has completed the impulsive wave sequence labeled as 1-2-3-4-5 and is now entering a corrective phase, typically labeled as A-B-C. The price has already formed waves A and B and is currently progressing towards wave C, which is expected to extend to the 1.618 Fibonacci extension level.
Additionally, the formation of a head and shoulders pattern suggests a potential reversal or a downward correction in the price. Here’s a written summary of the analysis:
USD/JPY Technical Analysis: - Impulsive Waves: Completed (1-2-3-4-5) - Corrective Waves: In progress (A-B-C) - Wave A: Completed - Wave B: Completed - Wave C: Targeting 1.618 Fibonacci extension Pattern Analysis: - Head and Shoulders pattern observed, indicating a potential reversal or correction.
GBP/USD Trade SetupGBP/USD has formed a symmetrical triangle pattern on the 30-minute timeframe, and a breakout has already occurred.
We are currently waiting for a retest to enter a SELL position, based on candlestick confirmation patterns at the retest level.
GBPJPY Bullish robbery plan to make moneyMy Dear Robbers / Traders,
This is our master plan to Heist Bullish side of GBPJPY Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan i have mentioned with target in the chart focus on Long entry, Our target is Red Zone that is High risk Dangerous area market is overbought / Consolidation / Trend change / Strong Pullback happens at the level Bear Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Loot and escape on the target🎯.
support our robbery plan we can make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday.
AUD USD TRADE SETUP AUD USD TRADE SETUP
AUD USD is currently retesting a support key level.
Currently looking for SELL confirmation on the lower timeframe of 30 mins.
Plan B, if the price breaks above we need to see a retest before looking for BUY entries
EURUSD: Bullish Trend ShiftOn an hourly timefraame, EURUSD printed Bullish Divergence followed by a Bullish Pennant Pattern suggesting a Bullish shift.
Entry is suggested on the breakout of previous high with a stop loss on previous low. TP levels are suggested with Risk Reward Ratio of 1:1 and 1:2
Trading ForexThe Forex Market is very consistent. It repeats itself day in and day out.
It is an objective force of nature and follows rules.
Therefore if you leverage the rules inside of an objective strategy you are able to extract as many pips out of every Macro move that the asset you are trading makes.
Today we understand that EURUSD is Bullish. Therefore the algorithm will take out Sell Side Liquidity 1st typically to the 3rd or 4th Second Deviation.
There is a FVG that may anchor the sell.
5am EST is PTT aka Profit Taking Time when the market typically consolidates and sets up the 7-10am Sniper Window.
Never Over Leverage. Always remember your Narrative is your trade if you don't have one you don't have a trade.
Trust your set up. Have a Great Trading Day!
Crude Oil possible long for 85.00oil price testing 4h time frame demand zone, buying level 80.55-80.00, stop loss below 80.00, target: 85.00
Gbpusd buy slowly GBPUSD seen as the third leg Deeper decline would be seen to support and possibly bullish But strong support should emerge fromretracement of complete the correctional
EURUSD sell opportunity for more big fall EURUSD The latest inflation report for March spooked everyone showing consumer prices soaring by 3.5%, way above expectations What does high inflation mean It means the Fed's gonna keep interest rates high for longer to fight it As soon as that data hit you could practically hear the market's collective gulp with the EURUSD
Gold Continue long_term XAUUSD buying strategy Gold Geopolitical frictions in the Middle East have further bolstered gold although these risks have intensified only recently and haven't been a predominant theme for an extended period To add context investors have been nervous about Iran's potential retaliation against Israel following the bombing of its embassy in Syria Such action could escalate tensions in the region
NZDUSD Bullish Robbery Scalping Plan Dear Robbers,
This is our Day Trade master plan to Heist Bullish side of NZDUSD Bank. My dear Robbers U can enter at the any point above my entered area, Dont't Enter at the pullback area use buy limit order to start heist then we can easily loot wiithout major loss. Our target is Red Zone that is High risk Dangerous area. Be safe and be careful and Be rich. Loot and escape near the target 🎯
Gbpusd buy fulling up the opportunity Gbpusd average This is generally a reversal pattern so we can expect the sellers to sell any rally now as they target a breakout below the support The price got a bit overstretched yesterday as depicted by the distance from the blue moving average In such instances we can generally see a pullback into the moving average or some consolidation before the next move
