EUR/JPY: Short Tendency intactWSI KEY Reasons for Short Tendency:
- break of structure
- first lower low sind March 2022
- POC & ultra high volume sell zone
- Re-test of BOC + POC zone
- 200er MA H4 sell zone
JPY buying likely to continue during stock market sell-off. EUR weakness likely to also continue due to hesitancy of ECB to raise rates + Russia/Ukraine situation.
SLs should be set above break of struture level (see chart).
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H4
Analysis on #aud/chfPrice is moving in an ascending channel, the corrective pattern have been broken after testing the 50 level of Fibonacci.
We can see lack of bearish momentum on MACD as we have a hidden divergence on it.
Price has retested the broken pattern and now it has the potential to move higher.
EURGBP short [pullback] .. downtrend H4EURGBP is in a downtrend for over a year, I expect pullback from top of the trend channel, RSI tells that market is overbought (76.4 points); MACD tells possible short signal. I would aim to the middle of trend channel, possibly the bottom. Let me know what you think.
EURUSD Longs (H4)Higher low channel formation on EU, quite a nice hold at support and bull momentum swing upwards. Looking to target previous highs as first TP, going further to 1.1220 area potentially.
Overall, on weeklies we still maintain a bearish bias, as price is trending downwards without a clear reversal pattern indicated as of yet.
TRADING IDEA --- NOT AN INVESTMENT OPPORTUNITY!
GBPJPY BULLISHWe can now enter with a r:r of 1:15, trading the very likely minor double bottom that appears to be forming above the uptrend line.
If we break the 158,000 zone, we would have two bullish confirmations, which could drive the price to go looking for 50 fibo as the first tp, and 61 as the second tp.
In the event that the price breaks down the 153,000 area, and touches our sl, we make a new entry in the 150,000 area (key level) taking a more aggressive risk.
The breaking of the bearish line of the last impulse, would confirm an effective rejection in the zone of 153,000.
ENJOY IT GIRLS AND GUYS!!
UPDATE 3.0 - GBPCHF - CONT or BREAK-OUT
UPDATE 3.0
GBPCHF
Hope everyone has a good weekend...
Today, I will be kicking off with a revisit to the GBPCHF
As you guys may be aware - I have previously provided Technical Analysis for this currency and have been watching for the best part of the last 3 weeks
You can find the previous analysis at both the links below…
...
So, within the previous analysis - I discussed how the market was progressing upwards
Furthermore, the Descending Channel that I originally marked out on the Daily TF is still intact
And, with Price still pushing up to the Resistance
Additionally and on the H4 - I marked out and Ascending Channel with a Break-Out to the downside
And, over the trading week - The market continued to be bullish and retest the support of this channel.
Although, after testing this support - Price did fall slightly and pushed up again for a further test.
For me personally it was not at the confluence I was looking for to short the market
Following this, a further Ascending channel was identified
This providing similar confluence at the previously identified level of 1.252
So and again people - We are looking for the reaction at the 1.252 level of confluence.
Currently, I am on the side of sells - but, who knows, right?
Any for of Price Action in. for the a CS would be sells
Alternatively, a close above the 1.252 resistance zone I would consider Buys
As always - thanks for tuning in people
Keep it real!
Gold (XAUUSD) - Supply & Demand SystemIn this video I show you a very simple, but powerful way to trade Supply & Demand on H4 XAUUSD Charts. You will learn how to identify Supply & demand direction. So you know if you should take Supply, or Demand levels. You also learn some basic rules around AV Reversal , Break of Market Structure (BOS/BMS) , Supply and Demand , Order Blocks