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GBPAUD Short Trade SetupHello traders. Like all other GBP pairs, GBPAUD is making a weekly corrective structure. After correction, it will make its weekly down impulse. But I think there is a chance for one more up. As you can see inside of C wave we have 123 sofar, and I'm looking for short trade setups because my expectation is one more drop to the trend line. But 4th and 5th waves are optional, so it can just fall. Wait for a correction before taking any short trade.
Short
by WaveAnalysis
GBP/JPY Short IdeaI like to keep my charts simple with a few regions and/or support and resistance levels. As everyone can see on the daily timeframe GBP/JPY rose in waves but that last wave rose quite fast and fell lower even faster. This suggests, according to my opinion, that there is little interest in taking the pair higher at least in the medium-term. The area where I've marked "Sell Zone" appears to be a good area to enter shorts since there is a ton of confluence in that region. With stop loss placed far enough to give fakeouts enough room. The 1st take profit zone is an important zone to look at taking profits or at least some profits off the table since price had a sharp bounce from that area.
Short
by Zeddy
XAUUSD Both Direction PossibleHello traders. I like to share with you my gold analysis. Even if both directions are possible, we have a long trade setup. Let me explain. Yellow wave count is one option. Based on it, down move was the X wave and it will go up for Z. Minimum target is breaking the of Y. The structure between yellow lines looks like a flag for more upside. So, wait for the breakout, and take the long trade. The second option is blue wave counts. Based on it, last part was expanding wedge (abcde) and now it is making the next down impulse. Expanding wedges are extremely rare corrective patterns. That's why I don't think blue counts will be the case, but of course, they can be. So, wait for a correction, then wait for the breakout, and take the short trade. Trade with care, bye.
OANDA:XAUUSD
by WaveAnalysis
GBPJPY Short Trade SetupHello traders. I wish a nice week to all of you. I'm looking for short trade setups in this pair. Down move can be reversal impulse and the last up move can be the correction. Based on this possibility, selling it after breakout looks like a good idea. But please wait for a small flag after breakout because there is a chance for more upside. We have very strong Fib confluence (0.618 retracement and 1.272 extension) around 152.150. For bigger picture, please check the related idea. Trade with care
Short
by WaveAnalysis
USDJPY Long Trade SetupHello traders. This chart is very clear in daily timeframe. I'm expecting a new up impulse after corrective structure. In 1H, I think up move was reversal impulse and now, a correction is in the making. The down move can be the whole correction or wave A in bigger structure. It is not clear at this point, but putting an entry order looks like a good idea. My plan is taking breakout trade. If I can find any entry after the breakout, I will take it and remove the entry order. Trade with care...
Long
by WaveAnalysis
GBPNZD Short Trade SetupHello traders. Like all other GBP charts, this one is making a big corrective structure for weekly down impulse. The correction could be over at the previous top. It is not clear yet, but I want to take short trades if I can find any good trade setup, because of the potential of down move. In 1H, it looks like a flag is in the making. That's why I put an entry order. The current risk of this trade is 3% of my account rather 1%. When it tag my entry, I will move the stop loss above the flag. So, my real risk will be something like 0.5%. I'm doing this because if it goes down impulsive, I like to be in the trade with a nice lot size, but if it reverses and stops me out I don't want to lose 3% of my account. If up move creates bigger correction, I can take another short trade. Trade with care...
Short
by WaveAnalysis