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BluetonaFX - USDJPY Approaching Trendline Support BreakHi Traders! Due to the weak NFP jobs data last Friday, there is further pressure on the US dollar. USDJPY is back under 150 and trading with bearish momentum.   Price Action 📊 The market's price action on the 2H chart is currently bearish. The market broke below the 20 EMA, failed to break back above in the re-test, and is approaching the trendline support with potential for a break and close below the trendline to continue pushing down. Fundamental Analysis 📰 There were weak US major figures recently posted, with weaker than expected PMI figures and Non-Farm jobs data. The Fed also failed to commit to further interest rate hikes, which has left traders nervous about the US dollar. Support 📉 149.273: TRENDLINE SUPPORT 148.805: MONTHLY LOW Resistance 📈 149.736: PREVIOUS DAY'S HIGH 149.817: 20 EMA Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
1
Currency Pair: GBP/AUD SellTrading Plan/Signal Currency Pair: GBP/AUD Action: Sell Entry Price: 1.88326 Stop Loss (SL): 1.94732 Take Profit 1 (TP1): 1.85227 Take Profit 2 (TP2): 1.72405 Reasoning: The trading plan involves selling the GBP/AUD currency pair. Here's the rationale behind this decision: Head and Shoulders Reversal: The analysis has identified a head and shoulders reversal pattern. This pattern typically indicates a potential trend reversal from an uptrend to a downtrend. The left shoulder and the head form higher peaks, while the right shoulder forms a lower peak, creating a bearish signal. Downtrend Anticipation: The head and shoulders pattern suggests a bearish sentiment in the market, indicating a potential downtrend in the GBP/AUD pair. Trading Strategy: Entry: Enter the market with a sell order at 1.88326, as this is the point where the reversal is anticipated to start. Stop Loss (SL): Place a stop loss at 1.94732. This level is set to limit potential losses in case the market moves against the trade. Take Profit 1 (TP1): The first take profit level is at 1.85227. This is where the initial target for profit-taking is set, anticipating a portion of the potential downtrend. Take Profit 2 (TP2): The second take profit level is at 1.72405. This level represents a more significant target for profit-taking, in line with the expected downtrend. Risk Management: Risk-reward ratios have been considered in setting the stop loss and take profit levels. Always trade with a risk that you are comfortable with and that suits your overall trading strategy. Regularly monitor the trade's progress and consider adjusting stop loss and take profit levels as the market develops. Please note that forex trading carries inherent risks, and it's essential to use proper risk management and only trade with funds you can afford to lose. This trading plan is for informational purposes and should not be considered as financial advice
Short
by Jazzy_Qmolautsi
SasanSeifi 💁‍♂️GBP/USD👉4H 1.22700 / 1.23Hey there! As you can see, the price is currently trading within the range of 1.22. In the 4-hour timeframe, here's a scenario to consider: The price may continue to exhibit positive fluctuations as it approaches the liquidity gap. Following this, after a minor correction and, upon confirmation, as well as renewed liquidity accumulation, we could potentially witness further price growth towards the resistance levels at 1.22700 and the price range of 1.23. Potential trends in the chart above have also been highlighted. Moreover, if the price falls below the LOW1.21 range and consolidates, there's a possibility that the outlined scenarios may not materialize. ✨What's your opinion? Do you agree? 🔵Remember, always conduct your own analysis and consider other factors before making any trading decisions. Good luck!"✌️ ❎ (DYOR)...⚠️⚜️ Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
by SasanSeifi
SasanSeifi 💁‍♂️ 🟡 XAUUSD /weekly◼In the weekly timeframe, as you can see, the price has been in a corrective phase since it fell below the $2060 range. After experiencing some positive fluctuations, it has once again entered the FAIR VALUE GAP zone. Currently, it's trading around $1851, and the overall trend in the weekly timeframe is bearish. If the price continues to stay below the LOW of the $1885 range and the weekly candle closes strongly bearish, we can expect that the price will continue its correction in the medium term towards the support levels at $1830, $1800, and $1780. To get a better understanding of the price's future movement, we need to monitor how it reacts to these support levels. If the support levels hold and are confirmed on lower timeframes, there might be some partial positive fluctuations.❗❗ ◼On the other hand, if the support ranges break down, the possibility of a more significant correction in the long-term timeframe could be considered.❗ ⭕The important resistance range is $1890 to $1918. ✨What's your opinion? Do you agree? 🔵Remember, always conduct your own analysis and consider other factors before making any trading decisions. Good luck!"✌️ ❎ (DYOR)...⚠️⚜️ Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
OANDA:XAUUSDShort
by SasanSeifi
BluetonaFX - GBPAUD Descending Triangle SHORT IdeaHi Traders! The bearish price action continues on the GBPAUD 1D chart, and there may be possible opportunities for short entries. Price Action 📊 The market has had lower highs and lower lows since breaking below the 20 EMA, creating a descending triangle pattern on the chart. We are looking for further bearish momentum to break and close the trendline support line and continue to the downside. Fundamental Analysis 📰 The market's outlook on GBP is currently negative due to weak economic data recently released. The outlook on the GBP looks very negative at the moment, and the demand for the currency is very low.   Support 📉 1.88514: TRENDLINE SUPPORT Resistance 📈 1.92527: TRENDLINE RESISTANCE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
11
Reversal Chart Pattern: WedgeWhat this chart pattern shows us is a loss of trend strength and a deceleration in price movement. The most achievable projection for setting our take profit will be the maximum width of the pattern, which occurs at the beginning of it. Alternatively, you can take the level that marks the start of the correction as a profit-taking point. As for the stop-loss level, it will depend on the type of entry made in the trade, whether it's a high-risk entry or a reduced-risk entry. (Like any other pattern or indicator, this one provides a signal of a possible market move. Therefore, the greater the number of confluences, the higher the probability that the observed scenario will occur). 💼💹 (🇬🇧)
Education
by JRiquelmeTrading
BluetonaFX - EURUSD Inverse Head & Shoulders LONG IdeaHi Traders! EURUSD has a potential inverse head-and-shoulders pattern forming on the 4H chart. Price Action 📊 Recent higher market swings with higher highs and higher lows, and the market is currently above the 20 EMA. We are looking for a bullish momentum break above the neckline. Fundamental Analysis 📰 ECB President Lagarde continued her hawkish stance by repeating that interest rates in the eurozone will remain high for as long as needed. Support 📉 1.05707: 20 EMA Resistance 📈 1.05936: NECKLINE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
6