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Friday

Navigating The Market : Simplifed = Friday/Monday relationshipThis is not a trading strategy nor claiming this concept happens 100% of the time, but this is a repetitive pattern and I personally believe it could help you to navigate the market (particularly if you are an intraday trader) more efficiently. I generally would see this in 1-Hour timeframe but for the sake of being able to show you with more examples in one post, I choose D1 timeframe for this post. When price breaks and close above Friday high on a Monday, more often than not, the price would eventually reverse downwards within 18-24 hours. Vice versa for a close below Friday low (on a Monday) Why I believe this phenomenon is real and tangible is because Friday or Monday normally a day where the Banks (NY session) attempt to clear their books. In order to do this, sometimes they need liquidity to offload their position, they would do stop hunts if there is a need to do so. Hence I've conceptualised this Friday/Monday relationship into my way of analyzing the intraday moves especially on a Mondays. By default, any breakout from the Friday high or low, I would consider it as a stop hunt/fake breakout. Of course, there be a week where a breakout from the Friday started a huge trend that lasts weeks, but that is an outlier. I do not care about outliers, as a trader I will try to profit from what is repetitive, and this concept is very repetitive. This is just one of three "day-to-day relationships" that I have conceptualised to make me reading the market a lot easier. The other two are Mon - Tue/Wed relationship,andTue/Wed to Thu/Fri relationships that I have conceptualised. Tell me what you all think,
Education
by sufiansaid
EDUCATIONAL Hi Guys, I hope you've all had a good week and caught some decent pips. The market this week has been one of the worst conditions we have seen in a long time in terms if how slow some of the pairs have been moving and manipulation. Overall we have still managed to catch over 100+ pips. However, please note that I will stick to mainly posting GBP pairs from now on as you can see from the ideas posted how precise the entries and targets have been. Next week we should see much more movement and clearer opportunities and hopefully we can continue to kill the market and make some good profit. Subscribe to my page as you don't want to miss out on the coming weeks. I would love to know your thoughts in the comments section. Have a great weekend traders!
by Younisward
EURUSD: Short on FridayHey guys, I just wanted to show you my last trade this week on Friday morning. I saw a trend change happening on EURUSD in the 1 hour chart earlier this day. At the top where we can se a divergence, there was formed a candlestick engulfing pattern. This is were i entered the trade and expected the price to go down to at least the 0.5 fib level with a little risk just over the high. Price reached this level and closed he day. I closed the trade two hours before we went into the weekend because i do not like holding short term trades over the weekend. Wishing everyone a great Sunday.
Short
by darian_fx
Some ideas how to make money todayFriday markets are met in a rather bad mood. The panic in the emerging markets does not subside, and the VIX fear index is at the maximum mark for the last month and it is growing further. The reason is still the same - Trump's trading wars. And the latter does not even try to somehow extinguish the igniting flame of the global crisis, but rather throws fuel into the fire. The point is that in a recent interview with the Wall Street Journal he noted that the US will continue to struggle with the trade deficit, and this will affect all trading partners. Markets took this as a signal that Trump's next attack target is going to be Japan. So, the reasons for calm on the horizon can be seen. Trump is clearly determined. And remembering his tweets of two weeks ago, another object of attacks may well be the US dollar. So, his purchases seem to us a very risky idea in the current conditions. But sales seem to be almost a win-win strategy. Even despite the potential positive for the dollar after the publication of today's data on the NFP. As for the most promising pairs for dollar sales, it is the British pound and the Canadian dollar. News from Brexit's negotiating fronts (Germany made concessions) show that the process is under way and the deal will most likely be concluded. And this means the growth of the GBPUSD pair by at least 1000 points. Another interesting object, in our opinion, is the purchase of the Canadian dollar against the US dollar. It is a question of another negotiation process. This time between the US and Canada over NAFTA. Given that Mexico has already completed it and completed successfully, we estimate the chances of an agreement between the United States and Canada as high. But the current prices of the pair USCAD - this is essentially the price of the pair in the case of not signing a contract. That is a good opportunity for earning, as the fall of the dollar will occur with a vengeance. Well, the Russian ruble continues to pour down. Britain officially declared Russia and personally Putin in the poisoning of the Violins. That is Armageddon in the form of November sanctions, to ban external financing, which is getting closer. Well, one more argument in favor of selling the ruble - the RF Ministry of Finance has finally lost confidence in the eyes of domestic investors. On Wednesday, he was unable to sell OFZs at an auction. And the situation on the government securities market is approaching the catastrophic: the yield of 10-year OFZs jumped to the level of 8.97% per annum for the first time since November 30, 2016. Oil continues to pour, despite the decline in oil reserves in the United States. That suggests that sales in the oil market are systemic. The market has decided on the direction. So, selling oil is another good idea in our opinion.
TVC:DXYShort
by Trade24Fx
How about going long on CHFJPY today to end the week?I am placing a buy here with the bulls on CHFJPY because here after careful review, trend analysis and pattern recognition on the 1hr time frame for entry I have identified an opportunity to buy for the CHFJPY pair with confluences to match. Take a look at my analysis I would love your feedback. My trades a specifically for intra day trading I am completely out of the market by 5pm EST each day with my profit or loss taken
Long
by UrbanGeniusOfficial
BTCUSD: Bitcoin Friday Update and Trade PointsBTCUSD: Bitcoin Friday Update and Trade Points Bitcoin was expected to push higher during a long, slow but overall positive day yesterday - it was certainly long and slow but it didn't push much higher though. Once it broke below 7480 it was meant to fall to 7401 at lowest before bouncing away again to the upside. In the event the subsequent low fell at 7415 before Bitcoin began to rally again. Since the low Bitcoin is now back retesting the high of yesterday at 7599 on Coinbase. It should meet profit taking from day traders here in the nearterm and come back to 7550 and move sideways for a while. We've had 3 waves up in this counter-rally so far and each one is smaller though similar to the one before it. This rally as Europe opened is lame so far and lacking intent or any real interest. It will need more buyers again from 7550 and off the lower parallel at worst to stay positive today from here. Even if it can manage this there is the worry that there's not much upside potential left in what would be a 4th and final wave upwards. It needs a big green impulse candle to emerge on a break above 7600 to change that view. Yesterday it was Ok to buy the dip - today is less certain. The only weapon the bulls look to have left in their armoury is the potential for a sketchy RHS pattern to complete with a break above 7600 on a volume spike. Despite the resistance at 7638-7660 if this RHS is to have a chance of working out it should rally towards 7660 at first and then come back to test the neck-line at 7600 again. It must bounce away to the upside again from this point with more volume arriving to help it on its way. So if we see 7600 broken to the upside it's quite high risk following long - use a stop 20 to 30 points lower and if this potential break then lacks volume coming in right behind it don't hang about hoping, just close out again and look again as it comes back to the neck-line. The market is too uncertain for any gung-ho trades right now and there is resistance mounting from 7638 and 7662. But the RHS' right shoulder is a little better defined now after yesterday's price action and it has 600 points of upside potential if it can complete as above - so despite risks will be looking to trade it as the downside is only 20-30 points or so. But it is risky nonetheless. Returning to the downside initial support lies at 7550 followed by 7480. Any break below 7480 will force a retest of 7415-7390 range which when broken below will flip Bitcoin back into bear hands and trigger a short back to 7166 at a minimum if not to 7068.
COINBASE:BTCUSD
by sumastardon
7
BTCUSD: Bitcoin Friday Trade PointsBitcoin Friday Update: Next Trade Points Overnight Bitcoin only managed to rally as high as the previous low at 9453 in this run and never stuck the final short stop which was just above 9500 before falling away another 1100 points to make a low, so far, two support lines lower on this chart at 8422 after a new intraday low at 8370. Once more we have the spike low at 06:00 gmt and a secondary low at 09:30gmt. That 'sketchy' lower parallel drawn out yesterday actually proved the perfect near term down-side target as it struck the junction of the parallel and the fixed support line at 8356 at the now customary 06:00 gmt low. If you managed to close out shorts there or on the secondary low off the line at 8356 around 09:30 then you have traded very well indeed. Hats off to that. We've had 4 waves down and yet again another near term double bottom so there is a chance that it could find bottom here. But upside is being held back by the 8736 line now . If still short lower stop again to 8915 or can close out here around 8600. The next short triggers on a break below 8350 for a move back to 7835 and potentially to 7547 on Bitfinex feed.. Upside Bitcoin is trying hard to rally but it feels like bots here just grinding through sell orders right now. It will have to break above the 8744 line for a quick rally to the 9012 line and as high as the upper parallel before it falls away again. Day traders will likely take that trade but swing longs are going to have to stay patient until the upper parallel is broken through to the upside. If we see it happen today or into tomorrrow we can follow with stops under the parallel or wait for a successful retest from above once broken if preferred . But until then it's really a day traders' market now until we see the low broken on downside or the upper parallel broken on upside.
BITFINEX:BTCUSD
by sumastardon
9