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Outlook on WTI: Bearish play seen On the H4 time frame, prices are showing bearish order flow with lower lows and lower highs being formed. On the H1 time frame, a pullback to the resistance zone at 107.00, in line with the descending trend line, 78.6% Fibonacci retracement, graphical resistance level and 100% Fibonacci extension level presents an opportunity to play the drop. Our next support target at 100.20 coincides with the potential 61.8% Fibonacci retracement. Stochastic is also showing limited upside as well before it reaches resistance, in line with prices.
TVC:USOILShort
by shermzT
1
EURAUD 4H LongWhats up everyone! I see i hvae gained a lot of followers recently and i want to say thank you to you all! I love interaction so please feel free to comment on the posts or send me a message (not sure if you can here). I will try my absolute best to post the best setups with the highest probability of winning. I am a swing trader so these charts will take some time to hit profit so be patient. I also trade US30 on the 15min but it moves very fast so i dont post my entries since most of the time im already at break even when i am able to post. If you're interested in hearing more about the US30 trades shoot a comment! EA has tapped into a huge Daily Zone and just created 4H RSI Divergence, which from past posts you know is my bread and butter. Simple easy trade here, we go long, SL at 35pips and target the Supply Zone sitting higher!
Long
by scottmal89
AUDUSD: Your Trading Plan For Today 🇦🇺🇺🇸 Hey traders, AUDUSD is currently trading within a peculiar zone of confluence: we see a perfect match between a recently broken horizontal supply area and a falling trend line. I expect a bearish accumulation within the underlined area. Your confirmation to short will be a double top formation on 1H time frame. 0.6844 - 0.6854 is its neckline. Wait for its bearish breakout (you need an hourly candle close below), then sell on a retest. Target will be 0.677 Stop will be 0.69 If the price breaks a yellow zone to the upside, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
5
MarketBreakdown | EURJPY, EURCHF, GBPCAD, GBPCHF Hey traders, here is a brief technical outlook of 4 peculiar instruments on my watch list. 1️⃣ EURJPY - Daily time frame 🇪🇺 🇯🇵 I see the signs of a bullish accumulation: the price has already set two equal highs and keeps setting higher lows. I believe that we will see a breakout attempt of a current horizontal resistance. Daily candle close above that will trigger a bullish trend continuation to new highs. 2️⃣ EURCHF - 3 days time frame 🇪🇺🇨🇭 The pair is approaching a solid horizontal zone of demand. Be prepared for a breakout attempt. Its bearish breakout will trigger a bearish continuation to a year's low. 3️⃣ GBPCAD - Daily time frame 🇬🇧🇨🇦 As I predicted, GBPCAD dropped nicely. The pair formed a double top formation with a lower high. Its neckline violation signifies a highly probable further decline. 4️⃣ GBPCHF - Monthly time frame 🇬🇧🇨🇭 The pair is currently approaching a wide weekly demand cluster. Taking into consideration that the market is very oversold, I believe that we will see a pullback from that structure soon. Look for a confirmation on lower time frames to buy. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
6
EURAUD: Complete Indecision 🇪🇺🇦🇺 Very peculiar situation on EURAUD pair: the market is stuck between 2 structures, one - major weekly resistance, one - key daily support. Depending on the reaction of the price to these structures, I see 2 potential scenarios: If the price breaks 1.528 - 1.538 resistance and closes above that on a weekly, I will expect a bullish trend continuation to 1.558 If the price breaks 1.516 - 1.52 support and closes below that on a daily, I will expect a bearish move at least to 1.505. Wait for a breakout and the follow the market. What do you expect? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
8
GBPCAD: Important Decision Ahead! Your Plan: 🇬🇧🇨🇦 GBPCAD is trading in long-term bearish trend. The market is steadily going down within a falling parallel channel. The pair is approaching its resistance at the moment. Depending on the reaction of the price to that, I see 2 potential scenarios: If the price breaks a resistance of the channel (we need a daily candle close above that to confirm a breakout), then a bullish continuation will be expected to 1.6118 structure. If the price breaks a 1.5855 - 1.59 local daily support and closes below that then a bearish continuation will be expected at least to 1.572 level. Wait for a breakout and only then buy/sell the pair. What are your expectations? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
7
EUR/USD short term sell opportunity Good morning everyone, Watch for this short term sell setup in the EUR/USD. Try to get an entry from top of corrective structure (already developing) or wait for bearish flag to sell for the retest of 1,034 low. Wish you all the best trades, PTFX Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by my understanding of the technical figure based on wave theory.
Short
by PureTradingFX
MarketBreakdown | SILVER (XAGUSD), Dollar Index, EURCHF, CADJPY Hey traders, here is a brief technical outlook of 4 peculiar instruments on my watch list. 1️⃣ Silver (XAGUSD) - 4H time frame 🪙 Since the beginning of June, the market is consolidating. The price is coiling around 21.8 - 21.88 horizontal support area. It looks like the market is preparing for its breakout attempt. If the market breaks and closes below that structure we may see a bearish continuation. 2️⃣ Dollar Index (DXY) - Daily time frame 💵 The index formed an ascending triangle formation. If the price breaks its resistance to the upside, the market may start growing sharply. Alternatively, a bearish breakout of its trend line may initiate a strong bearish move. 3️⃣ EURCHF - Daily time frame 🇪🇺🇨🇭 Strong supply area is ahead. 1.05 - 1.0515 is the zone from where I will expect a retracement. Wait for a confirmation and be ready to short. Alternatively, its bullish breakout will trigger a strong bullish movement. 4️⃣ CADJPY - Monthly time frame 🇨🇦🇯🇵 The market is currently approaching a key monthly resistance. Taking into consideration that the pair is very overbought we might see a correctional movement from that. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAGUSDShort
by VasilyTrader
10
CADJPY climbing towards historical resistanceThe Japanese yen's weakness is obvious across all its pairs, including against the Canadian dollar. The CADJPY has displayed a strong bullish uptrend after its breakout above the 92 price level, on a monthly time frame, and is now facing a historical resistance in which to overcome. Looking at the CADJPY on the chart below, we can see that the price is currently at the supply area based on the Supply and Demand indicator and has a strong resistance at 103.381. Historically, the price has rejected at that price level and moved back lower to the decade-long demand zone at around 74.580. Traders are on the lookout right now at this strong monthly supply zone as this could be a good opportunity to take an upside position for a breakout or take a sell to the downside if it rejects at the supply zone. If an upside break does occur, will the CADJPY continue all the way to the next supply zone starting at 115.530? The possibility of this might be dependent on the fundamental factors, including whether Japanese authorities intervene in the currency market. Fundamental note The Bank of Japan has vowed to maintain its ultra accommodative policy, in stark contrast to the actions taken by other major central banks. As a result of bank’s inaction, it will be up to the Ministry of Finance to intervene in the currency market if the JPY continues its rapid depreciation.
by BlackBull_Markets