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Multipletimeframeanalysis

Aud Cad short term bullish opportunityGood evening everyone, I hope you've all been doing well. As per the usual, I am going to keep this short and sweet. I strongly believe that we are headed up in aud/cad to atleast the 0.94810. Elliottwave analysis: If you saw my last post, which I highly recommend, you probably caught the wave a of the wave 5 and have come out with a great profit. This means that it is now time to catch the retracement. Typically I would expect a 0.382 retracement, but I am more than happy taking the conservative target on this one, which is the 0.236 retracement. I think we have finished the wave 5, since we have hit a 1:1 extension of the wave a of the wave 5, which is a strong indicator that this movement is over. Ideally, I think that we could target the bottom of the wave 4, since this is typically where the wave a ends after an impulse wave. Moving average analysis: The only thing that the moving average tells me, is that the target I have is the same as the 1 hour 55 ema, but I didn't take the EMA into too much consideration for this trade, since it wasn't giving me many strong singles. RSI analysis: The rsi analysis is the money maker. As we can see on the 1 hour, we have some strong bullish divergence, which IS WHAT I LIKE TO SEEEEEE. The best part is that this divergence is visible on many different time frames, for example, the 30, the one hour, and a little bit on the 2 hour. MACD analysis: This is indicator is also giving me really bullish signs. Firstly, we can see that there is some huge bullish divergence on the macd for the 1 hour and the 30 minute. We have seen another cross and I believe that we are headed to the upside. All in all, this is the trade setup I am following: Target 1: 0.236 retracement- 0.94810 Target 2: 0.95086 Stop loss: 0.94372 I wish you all the best when trading tomorrow. Stick to your stop losses and have a great time.
Long
by Mika_k
GBPUSD Long IdeasHello there, Here's the update of GBPUSD, at previous analysis, we got a great opportunity to short the currency, basically the retracement of the currency. Right now, we're going to follow the real trend of the currency (for now). Although at Weekly Chart now prices are forming Rising Wedge (Continuation Pattern). One more thing that supports this analysis is the Fundamental. Why? Because currently USD is weakening due to this pandemic. It means GBP will rise as a base currency. Cheers!
Long
by Zyrrex
GBP/AUD LONG Top-Down Technical Analysis: (Similar to GBP/JPY) The monthly time frame shows a strong bullish signal as it is sitting on a very strong newly created support Weekly also is bullish biased rather than bearish as this week's candle broke the high of last week's doji (indecision) candle high and never broke the low Coming to the daily time frame we can clearly see how the trend has switched from bearish to bullish as soon as we formed a double bottom and broke the previous lower high formed Now as we created a new high, price should come and retrace at a certain level thus creating a new support (new higher low) to continue its bullish movement By looking at the 4-Hour time frame, we can clearly see how we broke the resistance held at 1.80500 area, so now we are waiting for price to come down and retrace that area creating a new support-turned resistance to continue the bullish momentum till our target profit area. Target Profit: Purple zone at 1.84000 *Keep in mind that fundamental analysis may disrupt price action at any given time, specially with sudden news being announced and creating a new sentiment in the market.
Long
by YerwantKansabedian
USDJPY Long IdeasHello there, Price is forming Symmetrical Triangle in Weekly Timeframe. There's a opportunity to go Long for pair. Since the price was just bounce off the demand zone + lower Triangle line, we need to wait for another confirmation to entry, there's a possibility for price to either Reverse or Continue in the H4 Swapzone. So it's better to entry AFTER the price reacts to the Swapzone. There're 2 possibilities to entry.: 1. If price forms Continuation Pattern in the Swapzone, then it's a good sign to go Long. 2. If price forms Reversal Pattern in the Swapzone, we can either entry at the Trendline or Demand Zone Target Profit is at H4 Supply Zone. RR is unknown yet. Cheers!
Long
by Zyrrex