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AUD/NZD ANALYSIS/ POTENTIAL LONG POSITIONFor the analysis of AUD/NZD I first identified the overall long term trend on the 4 hour chart. In this case the currency pair is moving strongly in a uptrend therefore I was looking for any opportunities to enter the market in a LONG position. I then used the 1 hour chart in order to find a trade set-up, therefore I searched for a recent PREVIOUS move to the upside in the market and identified the SWING LOW and SWING HIGH of this session and used the FIB RETRACEMENT TOOL from the SWING LOW and dragged it to the SWING HIGH, now I had my Fibonacci levels laid out. The SWING LOW also represents an area of SUPPORT and the SWING HIGH also represents an area of RESISTANCE, from the SUPPORT area we can see that price was making moves to the upside and as price reached the area of RESISTANCE we saw price retrace back DOWN and hit the key FIBONACCI LEVEL of 61.8% and carry on the UPTREND. In the area of interest on the chart I also identified a CHANNEL where the 2 GREEN lines are also acting as SUPPORT and RESISTANCE, we can see price bouncing off each of the lines with the top line acting as RESISTANCE and the bottom line acting as SUPPORT. Within the area of the channel, we can see that price very nearly hit the RESISTANCE area before forming a BEARISH candle indicating a RETRACEMENT back towards the downside and hopefully hit the 61.8% FIB level which will indicate us to place a trade in this market. The bottom line of the CHANNEL is in line with the 61.8% FIB level therefore IF price reaches the bottom of the channel it is an extra indication to place a trade. If I place this trade I will place it with a 2:1 RISK-REWARD RATIO. Please let me know what you guys think of this trade set-up, feel free to message me any questions you may have, I am more than happy to help :)
Long
by ShaunGadd02
1
Trade Log NIFTY May 6 Yesterday, I had said 1. Today NIFTY did opened with positive global clues but could not sustain. I expect some gap down opening if there are even mildly negative news. 2. I do not have clear idea, but my hunch is tomorrow again will be a down day with mostly some support discovery around 9050-9150 region. Overall, I think point 2 was observed. The support was discovered in the region of 9100-9150. Now We have to see how long this holds. I have the following observations about today's price action 1. VIX dropped 5.41% for just 0.75% rise in NIFTY. Market was choppy and formed indecisive candle. 2. The second sell off of the day after 1:30, found higher support around 9190. 3. Bank NIFTY outperformed. 4. Breadth was Ok. 37 Advances and 13 declines. 4. Option writers undecided at level 9300 and considers 9600 as upper limit. 9100 as lower limit for tomorrow and coming week. All this means 1. Trend is still negative, but there could be a pause and consolidation. That means some reversals on intra-day charts. 2. We have to consider the 9100-9200 region as the support now. This support will further confirmed if we get a close above 9340 tomorrow. And resistance of 9340 is confirmed if it closes below 9190. For tomorrow, 1. Tomorrow is expiry day. I wont take tomorrows action, especially sharp move if any as indication of further trend. 2. Mostly indecisive day today, so we have to see in which direction the NIFTY moves further. I do not have any bias going in tomorrow. 3. But if I have to build some view, then I think it'll be uneventful expiry (9300 +- 50) tomorrow, if there is no news flow tonight.
NSE:NIFTY
by Observe_Think_Act_Think
2
EUR/USD ANALYSIS FOR A SHORT POSITIONIdentified overall trend on the 4 hour chart, in this case the market was a downtrend, therefore I was looking for a short position. Whilst still on the 4 hour chart, I looked for the last MAJOR move to the downside and located the SWING HIGH and SWING LOW. Once located, I used the FIB tool and went from my located SWING HIGH - SWING LOW with the tool. After I had plotted where I wanted my FIB levels to be, I identified an ascending triangle in the current trend and from there, plotted it onto my chart and closely watched the market until further indication. Soon I saw price was squeezing towards the end of the triangle and aiming towards the support area within the triangle with SHORT candles forming. Then when price hit the 61.8% FIB level as well as touching support, I placed a trade with a 2:1 RISK REWARD ratio. Please let me know what you guys think of this trade set-up :)
Short
by ShaunGadd02
GBP/JPY ANALYSIS + POTENTIAL SHORT POSITON Looking at the 4 hour chart I have identified that the Japanese Yen is going against the Pound and moving overall in a downtrend. I moved over to the 1 hour chart to identify a set-up, therefore I looked for the most recent ended SHORT session within the market and also identified the SWING HIGH and SWING LOW for the session and plotted my FIB retracement tool from the SWING HIGH and dragged to the SWING LOW. The SWING LOW on the chart also represents a strong level of SUPPORT (132.78) and in recent past, price went from 132.78 all the way up to 135.180 which formed the SWING HIGH, and then rallied back down to the area of SUPPORT. Now price is currently around the support area and we are looking for price to move towards the upside and to target the 61.8% FIB level as RSI is indicating that the currency pair is becoming oversold and the buyers could take control.If price moves towards the upside, I will be looking for an ascending triangle formation to further back up my set-up. If all of the requirements meet for this trade set-up, then I will be placing a SHORT POSITION setting a 2:1 RISK REWARD RATIO. Please let me know what you guys think of this trade set-up :) I will post an update of this set-up whether I have placed this trade or not and why :)
Short
by ShaunGadd02
BTC - Still profiting (for how long?)* Remember to support with LIKE and FOLLOW me for more analysis * Our last trade gave us a profit of 10% in 6 days. That happens when the market makes its big moves, and the big secret here is to know when, and in what direction it’ll move. If you missed my last analysis check it here and FOLLOW me for daily updates. Last analysis: BTC is in a resistance zone, the best place for a pullback or to the price take a “rest” and move sideways for a while. Now, let’s look at the hourly chart for more clues about what’s next: See that pink line? It served as a support a support a few times, and if the price breakout that line, the pullback will be more intense. We are in a resistance zone, and it’s time to take our profits now, but I like the idea to maintain at least half of my position, and only sell it if the price loses that pink line. So, if you are still in BTC right now, be aware of that point. If you are out, just be patient and wait for a better sign. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
BITSTAMP:BTCUSD
by Nathan_The_Finance_Hydra
NDAQ - BULLSEYE!* Remember to support with LIKE and FOLLOW me for more analysis * NDAQ is performing very well, rising more than 5% since my last analysis. If you missed my call, you can check it here (and follow me to keep in touch, I do daily analysis): The daily chart shows us a harami/hammer pattern, just above the 21 ema, indicated to us that the bulls arrived at the party: The target for the daily chart is the green line, the optimal for a Head and Shoulders pattern. Now let’s see how strong the bulls can be. If you look at the hourly chart, the price met the target of the double bottom (Eve & Eve double bottom), demonstrated by the blue lines. So, it’s a nice place for a pullback, but if the bulls are strong enough, that may not happen at all. Nevertheless, I’m taking some profits now. Congratulations for those who did the trade, and if you are out, no worries, certainly more opportunities will come. Remember to FOLLOW me and LIKE this idea if it helped you. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
NASDAQ:NDAQ
by Nathan_The_Finance_Hydra
BTC - Taking profits: Good money comes easy.Ok, so BTCUSD did what was expected, and is giving to us a nice 10% profit in 6 days. If you missed my last call on BTC, you can check it here: The buy sign was given by that harami, officially triggered at April 22, close to 21 ema and the upward trendline (purple). The stop was set at a few cents under the harami’s low. The risk of this operation was about 2,5%, and no it is profiting 10%, a 4:1 risk/gain relationship. Not bad. Now, what should we do? We can consider BTC is in a resistance zone (green rectangle), so if you are uncomfortable, just take your profits and go enjoy life. Or you could just sell half of you position and keep the other half, just in case. Personally, I like to look at the hourly chart for more clues: Now, it is simple. If it drops bellow the pink line, then just sell and wait for another signal. We could even short, but be careful, because it is a bull trend. If you missed this trade and want to buy, just wait for a pullback. Look at the daily chart, if it goes to the blue line, near the 21 ema or the purple trendline, you can keep your eyes open. At the first bullish signal, buy it. Congratulations for those who did catch this trade. If you didn’t, just be patient, more opportunities will come for sure. Follow me for more analysis and keep in touch.
BITSTAMP:BTCUSD
by Nathan_The_Finance_Hydra