STEPN H1 - 05/05/2022I am hoping that STEPN/GMT will make a breakout before it can go any lower. The current level is the key zone of buyers for many days. Thus, there will be not many sellers around.
Cheer
Priceactiontrading
DOLLAR INDEX (DXY) Consolidation and Indecision 💵
As we earlier discussed,
Dollar index reached a major weekly structure resistance.
The price is coiling on that for a couple of days already.
Analyzing a daily time frame, I spotted a classic inside bar formation.
Technically speaking daily candles are currently trading within the range of the 28th of April candle.
It looks like the market participants are waiting for some trigger and currently are very indecisive.
To clarify the future direction of the market,
wait for a breakout of the underlined range (you need a daily candle close above/below to confirm the breakout).
If the price breaks the lower boundary of the range, I will expect a correctional move to 101.5 structure.
If the price breaks its upper boundary, I will expect a bullish continuation to 105.0 level.
Let's see what will happen.
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EURNZD: Classic Reversal 🇪🇺🇳🇿
Hey traders,
EURNZD formed a triple top formation on a strong intraday structure resistance.
The price successfully broke and closed below its neckline
and now I expect a further bearish continuation.
Initial target - 1.611
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EURCAD: Bearish Trend Continuation 🇪🇺🇨🇦
Hey traders,
EURCAD is trading in a bearish trend.
Setting a new structure low last week, the pair retraced to strong resistance.
On that, the price formed multiple dodji candles, and then the pair formed a double top formation.
Its neckline breakout confirms a highly probable bearish continuation.
I expect a down move to 1.34
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UK100 SHORT IDEAPrice has rejected main resistance level, 4H candle just closed as bearish engulfing so I'm expecting to price comes down to the previous low level since the main pattern on Daily and weekly are channel UP I believe it will touched there and bounced back up.
AUDCAD: Oversold Market & Pullback 🇦🇺🇨🇦
AUDCAD looks very oversold.
After the price was coiling within a falling wedge pattern,
it broke and closed its resistance on an hourly time frame.
Now the price may bounce to 0.9115 level.
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Copper: Bullish Move From Key Level
Copper reached a very peculiar confluence zone:
we see a perfect match between a horizontal daily demand area,
618 and 786 retracement levels of the last two bullish impulses.
Analyzing the candlesticks, we may spot a nice dodji candle being formed on that structure.
Then, analyzing an intraday perspective, I spotted a bullish breakout of a falling wedge pattern formation.
I assume that it will trigger a bullish move.
Resistances on focus: 800 / 805
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GBPCHF: Pullback From Key Level 🇬🇧🇨🇭
On a today's live stream we discussed a potential pullback trade on GBPCHF:
The market is taking off from a key level.
The price formed a double bottom with a higher low and broke and closed above its neckline.
Now I expect a bullish move to 1.223
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EURUSD SELLSell on EURUSD. EURUSD has made significant movement towards the downside. So I am trying to capitalize on all movements even small ones. Retouch entry with 39 pip stop loss above High.
US30 Scalp Trade Idea Yesterday price formed resistance and continued to go bearish to retest the low that was created the day prior. I believe that price is currently ranging on the 1hr TF and can break either way. If price breaks and closes either way above or below the key levels, I will look to place a trade along with the market open volume. The overall trend on the higher timeframe is bullish but the current trend has been bearish these past few months. If price respects the major level of support, we may begin to go bullish, if not, we can see more of a retracement to the downside in the next few weeks.
XAUUSD BreakdownPrice has been bearish and broke below key levels. Currently the price is in a range, but a break above can continue to at least the target that is mapped out. The overall trend is bullish on the HTF but Gold has been in a retracement.
If price can hold this level of support and break above its previous highs, we can see a continuation to the upside. Considering the current fear in the market, it would fundamentally make sense for Gold to start heading bullish again due to the FUD (fear uncertainty and doubt) in the market.
EURNZD: Classic Bearish Reversal 🇪🇺🇳🇿
EURNZD looks very bearish.
The price formed a high momentum bearish candle on hourly time frame
and then broke a support line of a rising parallel channel.
It looks like the pair may go lower.
Goals:
1.6165
1.6095
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NAS100 Short Term Bearish, Overall Long Term Bullish!!!April 24, 2022
Weekly- LT: Bullish
ST: High possibility price touches weekly trend line in about 100 points. Price is in weekly market structure (Yellow). This will finish weekly retracement for a continuation of a weekly bullish trend.
Daily- LT: Overall trend Bullish
ST: High possibility of price reaching lower Daily Market structure
4 Hour- Broke previous lower 4 hours structure (Purple).
High possibility of price reaching previous 4-hour structure/liquidity area
Strong support/Psych level at 13,288.5.
ST: Short
After short movement is matured, high possibility of price transitioning into a bullish/long movement.
HAVELLS - LongAll details are given on chart. If you like the analyses please do share it with your friends, like and follow me for more such interesting breakout charts.
Disc - Am not a SEBI registered. Please do your own analyses before taking position. This post is only educational purposes and not a trading recommendation.
AUDCAD: Your Trading Plan For Today 🇦🇺🇨🇦
On a live stream today we discussed a potential short trade on AUDCAD:
the pair is currently approaching a strong daily structure resistance.
On an hourly time frame, the price is coiling.
I spotted a tiny head and shoulders pattern.
0.932 - 0.9327 is its neckline.
Wait for an hourly candle close below that to confirm a breakout.
Then short aggressively or on a retest.
Your intraday goals will be 0.93 / 0.928
If the price sets a new high on hourly,
the setup will be invalid.
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S&P500 Index (SPY) Important Breakout & Bearish Outlook 📈
After 1 week of consolidation within a horizontal trading range,
this morning S&P500 broke and closed below its support.
Taking into consideration that the market is trading in a minor bearish trend
from the beginning of April, that breakout will most likely trigger a further decline.
Goals:
4340
4300
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NASDAQ BUY IDEANASDAQ Just broke the trading line on pretty much all time frames and price is looking forward to keep the new uptrend or at least an strong momentum
gbpaud longThe price has reached the weekly zone and is expected to reach the high zone.
In case of possible correction, we can make a purchase transaction on one of the specified areas.
AUDCHF: Bullish Continuation Pattern 🇦🇺🇨🇭
AUDCHF is trading in a bullish trend since November.
Setting a new high the price retraced to key horizontal structure support.
On that, a wide double bottom formation was formed on a 4H time frame.
I believe that the market may go higher now.
Goals: 0.7038 / 0.707
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USDJPY [Long][2022-04-14]USDJPY has been ranging for about 7 days, Between 125.989 and 125.170. USDJPY had a false breakout on April 12 but quickly came back to the ranging zone. USDJPY broke out again with a quick retest where I placed a Buy stop right above with a 31 pip Stop loss. I will move my stoploss based on market structure so no profit target in mind.
DOLLAR INDEX (DXY) Can We Go Higher??? 💵
Weekly/daily time frame analysis on Dollar Index.
Price action & key levels to watch.
Potential scenarios.
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GBPNZD: Bearish Move From Key Level 🇬🇧🇳🇿
GBPNZD is trading in a strong bearish trend.
Recently we saw a correctional movement to a strong daily supply zone.
From that, I expect a bearish move to 1.9005 / 1.8955
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NZDCAD: Pullback Trade 🇳🇿🇨🇦
NZDCAD looks quite oversold:
the price formed and inverted head and shoulders pattern after a strong bearish move.
Its neckline breakout signifies a highly probable pullback.
Goal - 0.864
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