Get started

Marketstructurepattern

EURCAD Trade Analysis by Wave FX Academy (LONG to hit 1.62)Hi Traders, here is my analysis for EURCAD Technical Analysis: Monthly Timeframe: We are at a very interesting resistance with where each rejection of this level say price action falling to around 1.50 or below. We are expecting the same to take place here. Assessing the market structure over the past six (6) month we are seeing where we are above an key level in the market with candlestick patterns creating a breakout ond retest to the upside, giving indication that we may see price hit the top of the Key monthly structure. Weekly Timeframe: From a weekly perspective we’re seeing where the market has created a string bullish pinbar candle which would give confluence to the monthly analysis of a potential move to the upside. Daily Timeframe: A closer look on the daily timeframe also provides confirmation to our bullish forecast with the market potentially starting is 5th wave based on Elliot Waves Analysis. Ideally we’d want to see price action closing firmly above the resistance structure at $1.5700 then we can start looking for entires to hit around 1.6200 My overall bias is LONG and to see price action hitting $1.6250.00
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
BTCUSD Trade Analysis by WAVE FX AcademyHi Traders, here is my analysis for BTCUSD(Bitcoin) Technical Analysis: Monthly Timeframe: Price action is currently in a strong Resistance Level, where the market turned heavily bearish the last time reached these highs and the situation appears to be the same today. The overall market has been in a corrective state and looks like a potential triangle formation in the process of forming, I will be watching this closely to see how it plays out. Weekly Timeframe: From a weekly perspective we’re seeing where the market has broke above it’s resistance structure followed by a retest of the previous resistance now acting as market support. Based on the higher timeframe showing we are also in a strong resistance zone on the monthly, I would need to see price closing below weekly support to provide confirmation short. Daily Timeframe: A closer look on the daily timeframe has put in context a lot of what was identified on the higher timeframes. We are seeing a bearish market sentiments where the market broke below daily support, with a retest of that previous support (now resistance) which also coincides with the 50% fibonacci retracement. This current market structure in addition to price action from the monthly and weekly would make a short trade the direction with least resistance. My overall bias is still SHORT and to see price action hitting $7500.00
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
FOREXCOM:BTCUSDShort
by wavefxacademy
GBPUSD ANALYSIS by WAVE FX Academy (UPDATE)Market has broken channel to the upside, and we’re also seeing rejection of the 38.2 Fibonacci level coming from the recent bearish impulse. Given this scenario, should we see price action finding its way below 1.2800 we could see a bearish market continuation down to 1.2500. With the US Dollar index still showing signs of weakness, I will still be Long the Pound, however, I’d be cautious of the approach until I can see some form of rejection from the Daily support, then I’d start looking for an entry Long. My overall bias is still LONG and to see price action hitting $1.3400 
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
CADJPY Trade Analysis by WAVE FX Academy (SHORT)Hi Traders, here is my analysis for CADJPY Technical Analysis: Monthly Timeframe: Strong Downtrend market is active on monthly with price action forming a downtrend channel , with price rejecting a key resistance level . Ideally we should be expecting this trend to continue. Weekly Timeframe: Downtrend market structure also clear on the weekly timeframe , with recent price action in a retracement move. With the price failing to break $81.60, we are likely to see the market revisit the lows of $75.00. Ideally we’d want to see price action back beneath the weekly market structure acting as support to current price action. Daily Timeframe: A steady uptrend is clear on the daily timeframe , however, we are seeing where the market broke down below daily support and hovering around the trendline support. based on this market structure and what was clear on the monthly and weekly, I would be anticipating price action to continue lower. Personally I would want to see the price breaking that trend line with a well conditioned close to start looking for entries short. My overall bias is still SHORT and to see price action hitting $75.00
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Short
by wavefxacademy
EURUSD TRADE ANALYSIS by WAVE FX AcademyHi Traders, here is my analysis for EURUSD Technical Analysis: Monthly Timeframe: Strong Downtrend market is still evident on the monthly Timeframe with price action consolidating beneath a strong resistance level as well. Though Price has broke out and close above the trendline resistance, I would be very cautious with opening Long position from these highs given the price level on the monthly. Weekly Timeframe: Analysis on the Weekly is is showing where the market has broken out of its downtrend market environment and has also complete a possible 3rd wave of a new bullish run emerging in the market for the euros. If the 3rd wave is indeed complete, then we should be expecting the fourth wave corrective based on Elliot wave analysis, which would provide confluence of a retracement given that the market structure on the Monthly is showing price at key resistance. Daily Timeframe: Clear market consolidation evident from a daily perspective and based on current market structure, we can see the market break to either side. Given my analysis of the weekly and monthly I would definitely want to see the market breakdown lower before I look towards buying. On the short term i would bee looking at a short position should the conditions favours it. My overall bias is still LONG and to see price action hitting 1.2500
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines. once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
EURGBP TRADE ANALYSIS by WAVE FX AcademyTrading View Analysis Template Hi Traders, here is my analysis for EURGBP Technical Analysis: Monthly Timeframe: Market has been consolidating for the past 4 years, holding the lows of 0.8300 and highs of 0.9300 as string support and resistance respectively. The current market structure shows where this consolidation may be the wave 2 correction, with a possibility of price breaking that 0.93 barrier very soon. Weekly Timeframe: Analysis on the Weekly is also providing confluence to the monthly market structure. We are seeing where the market is potentially starting the wave 3 bull run of the subway extension. We can expect a retrenchment to take place around the 0.93 monthly resistance, which would provide a good opportunity to buy. I will be monitoring the price action to see if we indeed get the breakout, otherwise, i would anticipate a retracement into the 0.9150 to 0.9100 zone Daily Timeframe: Strong bullish price action on the daily shows where market found price acceptance 3 month highs, which will now act a strong support to the market structure. We should anticipate further continuation to the upside. This strong bullish pressure will definitely encourage more buyers into the market, however, I would personally wait for some form of retracement or a strong rejection off the 0.9100 support zone before I start buying. My overall bias LONG and to see price action hitting 0.9500
I've labeled the areas based on what I will be anticipating. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry. Like and Comment your thoughts . All feedbacks are welcome. If you are new to FOREX trading, here are the definition for words you may seen mentioned above. Price Action: Change in the price value of a traded instrument whether Forex, Commodities or Indices. Market Structure: This is classified as any group of candlesticks placed together with the use of Support, Resistance and Trendlines . once grouped they would provide a pattern to indicate a possible movement in price action. Support: Areas in the market where price tends to reverse after a sell off (lower price action) Resistance: Areas in the market where price tends stop, pause or reverse after bull run (higher price action) Uptrend: price action in the market creating a series of high highs and higher lows. Downtrend: price action creating a series of lower lows and lower highs

Long: Taking a position to buy the base currency Short: Taking a position to sell the base currency.
Long
by wavefxacademy
EURNZD Analysis by Wave FX Academy (DETAILED MULTI-TIMEFRAME)Hi Traders, here is my analysis for EURNZD Technical Analysis: Market has been gradually progressing higher over the past couple of years. Recent Price Action from a monthly perspective shows we’ve broken above a strong resistance zone at $1.77 now also acting as strong support. It's a strong possibility to see price action in the $1.86 region based on the current market structure. Looking at the weekly timeframe, we are seeing a well conditioned uptrend with price making consistent higher highs and higher lows With price currently testing the 38.2% level from the recent selloff, we may see some rejection here before price continues higher. A closer look at the market structure patterns on the daily timeframe, shows where we have broken out of the down channel and also closed firmly above the downtrend anchor indicating continuation to the upside. With all 3 timeframes (M, W, D) indicating bullish strength, and the major banks adding more long positions on the Euro while closing out massive shorts, in comparison to the all around reduction on both Long and Short positions for the Kiwi, it wouldn't be a surprise to see price action hitting the target of $1.8600 or even higher. I've labeled the areas based on what I will be anticipating. Like and Comment your thoughts . All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry.
Long
by wavefxacademy
1
EURCAD Trade Analysis by WAVE FX Academy Hi Traders, here is my analysis for the EURCAD On Daily Timeframe we are seeing where the market have broken out of its 3 month consolidation, with a strong bullish impulse to the upside, hitting March’s highs in the process. Price action also corrected to 61.8% of the impulsive from the breakout. This is also corresponding with the trend channel acting as linear support and resistance. Analysing the COT data; The major banks have closed our shorts for the Euro, while adding more to their Long position on the perspective of the CAD we are seeing where they have closed out Longs and added more shorts. Using this along with Technical Analysis, It would be no surprise to see EURCAD hitting $1.60 I've labeled the areas based on what I will be anticipating. Like and Comment your thoughts . All feedbacks are welcomed. An entry will be taken only if all rules of my strategy are satisfied. Add this pair to your watchlist and see if the rules of your strategy provides an entry.
Long
by wavefxacademy