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Priceactiontrading

GBPNZD: Important Decision Ahead! Your Plan: 🇬🇧🇳🇿 Hey traders, Very peculiar situation on GBPNZD. The market is approaching strong daily resistance at the moment. To catch a bearish move from that, watch a bearish flag pattern on a daily time frame. Your trigger to short will be a bearish breakout of its support (candle close below). Then the price will most likely drop at least to 1.94 level. Alternatively, on intraday time frames the pair is forming an ascending triangle formation. To catch a bullish move, wait for its resistance breakout. Then a bullish continuation to 1.995 will be expected. Wait for the reaction of the market first and only then act. ❤️Please, support this idea with like and comment!❤️
Long
by VasilyTrader
10
YFII is fighting on very important S/R level! YFII is located in a very important Support / Resistance zone as we see in chart H4. If we switch to a lower time frame of M15, we see that the price is also at today's Pivot Point. If this value is broken, we can trade in the Short direction, on the contrary, if this level acts as a support and is confirmed, we can open a Long trade. Direct entry into the trade must be in accordance with the rules of our private Price action strategy, which includes additional confluence. Have a nice day and Happy trading, Alex_UCT
Y
by UltimateCryptoTrader
GBPCAD: Potential Reversal Zone & Your Trading Plan 🇬🇧🇨🇦 Hey traders, GBPCAD is trading in a long-term bearish trend. After the price set a new low around 1.665 level, the market retraced. At the moment the pair is approaching 1.708 - 1.714 daily supply cluster. To catch a bearish move from that pay close attention to an expanding wedge pattern on 1H time frame. Its support breakout will be your confirmation to sell. Then the price will drop at least to 1.69 In case of a bullish breakout of the blue zone, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
7
SHORTING GBP/USD - POST TRADE ANAYLSISGood morning, Yesterday I entered a sell on GBPUSD and I'd like to share my thought process before I entered this trade. On the higher timeframe we can see the Pound has been melting these past few weeks as a result of the FED starting their tapering process, concerns over the new Omicron variant, the BOE not looking to change their monetary policy after previously saying they are looking to hike interest rates before 2022 (this is all very bearish for the pound and has been the driving force behind this bearish price action) On the lower timeframes we can see price is rejecting the yellow supply zone which so happens to line up with 1.32750 (quarter level theory). Every time price comes up to this level, we see a lot of selling pressure come into the market. As price came up for the second time to this zone to form a double top, I scaled in and placed a sell limit @ 1.32662 just below the previous high with my SL @ 1.32866 just above the supply zone / psychological level with an extra 10 pips for breathing room - I was very confident price was not going past this zone, with my reasons stated above. If I wasn't too confident, I would've waited for price to show me selling pressure with a bearish engulfing, wick rejection, or any other type of bearish candlestick formations. This trade offered me a 3.2:1 RRR and played out very nicely. I was in this trade for just over 13 hours, with my TP getting hit during the early Asian session. Unfortunately I forgot to publish the trade idea for the benefit of you guys but I'll make sure to do this with every trade going forward. Hope you like the read, let me know your thoughts / opinions on the pair. Cheers,
Short
by TomBray1
1
Price Action Analysis for CPRXHello Traders! CPRX was making a pull back and would expect a nice bounce at the strong support level after a strong bullish reversal candle. What I did to this analysis: 1. I Draw Major Support/Resistance in Weekly Time frame 2. Find trend - Higher High, Higher Low 3. Find a pullback in price 4. Wait for the Strong Reversal Candle at Support Level In trading you need to have rules and be strict to it before entering any trades. Hope you enjoy my analysis and hope you smash the like button
NASDAQ:CPRXLong
by The_Power_of_Price_Action
LONG - SENTINEL ONE (S) - 1DDECISION PROCESS Trend is progressive (exponential selling strength to target price level) Strong selling exhaust (price is moving strongly with volumes) Buying pressure (First buying signal appear on support levels) Contradictory strength (Second buying signal (and confirmation of first one) appear with a buying volume candle) TIPS - If market is lateralizing and didn't took direction until the 61.8% extension of the last mouvement (red vertical dash), exit or target breakeven of the position need to be think of. - On r/r=1 breakeven of the position need to be think of. - When you trade stocks, always look at engulfing market (here NQ1!, ES1!). Take care of important economic news this week.
NYSE:SLong
by Kentg
EGLD/USDT Analysis: Strong price reaction soon!On the EGLD / USDT chart we see how the trend lines are squeezing our price. The price is falling to very strong support, where the EMA 200 Daily is also important. This place of strong confluence TL + S/R + EMA200 is marked in the purple box. Here we expect a strong price reaction and an upward price reflection. If all the conditions of our Price action strategy are met, we will enter the Long Position. Happy trading, Alex_UCT
Long
by UltimateCryptoTrader
3
GBPAUD: Potential Trend-Following Trade Explained 🇬🇧🇦🇺 GBPAUD is very bullish from the beginning of November. Setting a new high the pair retraced. The market is approaching a key level at the moment. To buy it with confirmation, watch a double bottom formation on 1H time frame. 1.844 - 1.85 is its neckline. Your trigger to buy is an hourly candle close above that. Then you buy aggressively or on a retest. First goal - 1.855 In case of a bearish breakout of a blue zone, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Long
by VasilyTrader
12
USDJPY | Perspective for the new weekAs the Greenback appear to begin on a positive note during the initial hours of the Tokyo session today, the US inflation concerns ahead of this week’s US Consumer Price Index (CPI) is likely to be a major determinant on this pair. However, the strong bearish engulfing candle that thwarted buying momentum on the 29th of Nov 2021, sends a wave of caution as any selling opportunity can only be confirmed if we have either a rejection of the broken bullish trendline or an outright breakdown/retest of JY112.800 within the week. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Trendline Observation: i. Since mid September 2021, the USD recorded 5.85% growth against the Yen to initiate an uptrend momentum. ii. But after testing JY115.500 on the 24th of November 2021, we witnessed a sharp decline which broke the Bullish Trendline to the downside insinuating a possible reversal or retracement of Impulse leg (check weekly chart). iii. During the course of last week trading session, I observed that the price broke and closed below the key level @ JY112.800 a couple of times and this gives me an impression that the sellers are gaining momentum at this juncture. iv. Patience is hereby required at this point as the early hours/days of the new week might see a price climb to test the new supply level identified on the chart around JY113.750/114.500 to incite further decline. v. In case the price does not climb and we witness a Breakdown of the Demand level which has held price "supported" since September 2021; then we can prepare a sell position with the key level @ JY112.800 as a yardstick... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 7 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry