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🚀 USDJPY: Catching the Bullish Wave with Precision! 🌊Traders, get ready for an exciting opportunity in the USDJPY forex pair. The chart is revealing a bullish setup that promises a rewarding ride ahead! 📈💰 In the 4-hour timeframe, USDJPY has recently broken out of a well-defined range. Now, we patiently await a retest of this breakout zone, presenting us with a golden opportunity to join the upcoming rally with a tight stop loss. But that's not all! Three powerful moving averages, the 50, 100, and 200 period, are converging to act as a robust support level. These reliable indicators further reinforce the bullish case for USDJPY, adding confidence to our trade. With a projected risk to reward ratio of around 1:8, this trade holds great potential for substantial gains. Here's what you need to do: patiently wait for the retest, carefully observe the price reaction within this zone, and execute a buy order on the bounce. Our first take profit level is set at 140.300, which represents a minor resistance. However, our target extends further to 141.000. Remember, the price may continue its upward trajectory, but it's essential to strategically plan take profit levels along the way. 🎯 don't forget to press the like button if you think this insight was helpful 🚀🌟
Long
by Thomas_Zito
🚀 USDCAD: Get Ready for an Epic Range Trading Adventure!Hey guys! it all begins with a key element of this setup: the demand zone. This zone has proven to be a reliable reversal area in the past, and once again, price is bouncing off its robust support. This reaffirms the strength of this zone and sets the stage for a potential bullish rally. Adding to the case for an upward move, we have the RSI (Relative Strength Index) signaling a bullish divergence. This divergence, combined with the RSI reaching oversold levels, further strengthens our buy signal. It's a compelling entry opportunity at around 1.33600. As you embark on this trade, consider setting your stop-loss according to your risk tolerance. A conservative approach would be placing it below the demand zone, providing a safer trade with a smaller risk-to-reward ratio of 1:5. Alternatively, a more aggressive strategy could involve setting the stop-loss below the rejection candle, resulting in a risk-to-reward ratio of 1:7. Now, let's talk profit targets! Our sights are set on 1.36500 as the primary target. However, to make the most of this trade, consider taking partial profits along the way in areas shown on chart. This ensures you lock in some gains while allowing the remaining position to ride the upward momentum. Trading this range can be an enjoyable experience as you navigate the price action and optimize your strategy. Stay disciplined and adapt to market conditions, but most importantly, enjoy the process of profiting from this setup. feel free to share your toughts in the comments section, and don't forget to press the like button if you think this insight was helpful 🐂💰💪
Long
by Thomas_Zito
USDCAD I Bullish CAD News but in the rangeWelcome back! Let me know your thoughts in the comments! ** USDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
3
APTOS TOKEN UNLOCKAPT has a token unlock fast approaching, 0.45% of the total supply (4.5m APT) is to be unlocked at 0.5:30 UTC on 12th June 2023. Here are my thoughts going into this event, how I feel the market will react as well as key areas to look out for. Firstly looking back to the latest APT token unlock back in January. We saw initial sell side pressure as new tokens flood the market, a gradual decline in price throughout the day ending in a -9% drawdown. However the days that followed were very bullish, with APT climbing approximately 40% the following week post unlock. This is not unnatural price movement during an unlock event, so although not guaranteed, we can assume similar will happen this time too. As the chart shows price is currently following a triangle pattern capped by a local high of $9.00 that is being tested as I write this post. Just above is a bearish orderblock created by a price action imbalance and happens to create a good midpoint for the short term range we find ourselves in. This area will be a large obstacle for APT and in my opinion will cap off the short term rally we have had going into the unlock. Then as we approach June 12th, price sells off temporarily due to high sell side pressure of a large influx of new coins. Before buyers react and look to attack that midpoint once more with new buyers that happily bought lower during the unlock event, perhaps using the 4H 200ema as new support that has now upturned and looking bullish. These are just my thoughts on the upcoming event, in reality nobody knows what the future holds however the past can be used to learn from. DYOR NFA
by ProR35
1
BTC Daily Trade Idea In light of the new SEC/Binance news BTC fell off a cliff towards the midpoint of the 4H mini-range we have shown. In the middle of this range there's a bullish orderblock that I think could cap off the downside from this news. This is the first potential trade in my opinion after breaking lower and continuing the new downtrend. 2) The second potential trade is the reaction off the bullish OB and back up to the initial breaker, for me if we sweep liquidity of the supply zone and get back under, then we continue the downtrend and that leads to the third trade idea. Longing against the trend and news could be dangerous so this is quite risky. 3) The third and largest trade idea for BTC is the swing fail pattern confirming a downtrend and lack off confidence. That coupled with traditional markets such as the SPX & NASDAQ climbing higher but due a correction, I can see a retest of lower down, filling all the inefficiency and potentially marking the end of the bear market rally.
INDEX:BTCUSDShort
by ProR35
Aud/Usd Bearish Trend ContinueMy trading idea on Aud.Usd. The only problem currently is that the retailers are sitting at 70% short and if you follow me for long enough you know that I want to be trading in the opposite direction. If we see push to the higher resistance zone then we can expect the retailers to get stopped out and it will be perfect timing to get into sells. Taking a look at AUDUSD, we see that retail traders are 29.% long, and 71% short. We consider this information most useful when a market is at an extreme reading from retail traders. If the retail crowd is 60% or more positioned to one side, we get a +1 or -1. Currently, theAUDUSD gets a reading of +1 in this category. Remember, if the retail crowd is very long, we will look to short, and vice versa. Taking a look at seasonality, we get a score of -1. What this tells us is that based on historical data, this market tends to fall during this month. #N/A Finally, let's look at fundamentals. GDP growth favors the USD, inflation favors the USD, unemployment favors none and interest rates favor the USD DON'T FORGET TO FOLLOW SO YOU ALWAYS TRADE WITH AN EDGE>
Short
by Elite_Forex
USDCAD - Bears Took Over, Now Wait For Bulls! Again!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis (attached on the chart) we have been stuck inside a big range in the shape of a symmetrical triangle, so we have been trading it. Now USDCAD is sitting around the lower bound of the symmetrical triangle again so we will be looking for buy setups on lower timeframes. Moreover, the green zone is a strong support. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline. (acting as non-horizontal support) As per my trading style: As USDCAD is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
5
ETH - Rejection Zones Ahead 🔃Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. ETH has been slight bullish for the last couple of weeks trading inside the orange flat rising broadening wedge pattern. 📈 Lately, ETH rejected the upper bound of the wedge pattern and now trading lower as a correction phase. For the bulls to take over again medium-term, we need a break above the red resistance. 📉 Meanwhile , If / As ETH approaches the lower bound of the wedge pattern and blue support, we will be looking for buy setups. Which scenario is more likely to happen next? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
18
📉🐻 Unleashing the Bear: AUDUSD Sell Signal on Daily Timeframe!Attention, traders! Brace yourselves for an exciting opportunity as we uncover a compelling bearish setup on AUDUSD, observed on the daily timeframe. It's time to seize the moment and take advantage of a breakdown in price, signaling a potential continuation of the existing bearish trend. Our trading journey begins with the recognition of a range breakdown, a powerful pattern that signifies a potential continuation of the prevailing trend. In this case, the price action aligns with the bearish trend, adding weight to our analysis. This breakdown presents a remarkable opportunity for traders to capitalize on a resumption of bearish momentum. But let's not stop there! The moving averages further confirm the bearish trend, acting as a guide and strengthening the case for a sell position. With all the pieces falling into place, the momentum signals a high probability setup, enhancing the potential for a winning trade. Zooming out, we uncover the intriguing story of a range lasting for three months, with price oscillating between 0.68000 and 0.66000. This prolonged consolidation phase has resulted in buyer exhaustion, as evidenced by the breakdown of the support level. The shift in market dynamics signals a ripe opportunity to take a sell position and ride the bearish wave. Now, let's outline our trading strategy. I recommend initiating a sell position from the breakdown point, targeting a desirable destination at 0.63000. Along the way, it's ideal to secure profits at strategic levels, with the first take profit level set at 0.64500. This approach allows for partial profit realization while keeping our sights on the ultimate target. Don't forget to press the like button if you think this insight was helpful📉🐻💪
Short
by Thomas_Zito
1
xauusd--> short position for goldhello guys... gold touch the monthly resistance and it is not out of my mind if it is going to do some correction but now after a long bar pattern, it seems it wanna formed a three-drive until hunts the stop loss of the range that I have been shown on the chart if the price retraces to 0.33 fibo level you can get a short position! _______________________________ always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
OANDA:XAUUSDShort
by melikatrader94
10
📈🚀 EURUSD Breaking Barriers: Get Ready for a Rally! 📈🚀Attention, fellow traders! Exciting times are ahead as EURUSD breaks free from its range, paving the way for a potential rally! Buckle up and get ready to ride the bullish wave as we dive into this enticing opportunity. The stage is set for an upward surge, with our first target set at 1.08100, followed by the second target at 1.08500. Picture this: the price breaking out of its range, fueled by increasing bullish momentum. The skies are clear, and the path to higher levels beckons. But wait, there's more! The bullish case gains further strength as we witness a retest and bounce on the upper structure of the previous range. This impressive feat turns resistance into support, setting a solid foundation for future price action. Now, let's incorporate a touch of fundamental analysis. Keep a keen eye on key economic indicators, such as interest rate differentials, inflation data, and geopolitical developments. Consider the impact of monetary policy decisions from the European Central Bank (ECB) and the Federal Reserve on the EURUSD pair. (meeting this afternoon) Factors such as improving economic conditions in the Eurozone, potential shifts in market sentiment, and global trade dynamics may also influence the pair's performance. Stay informed and adapt your strategy accordingly, as the markets are ever-evolving. Please remember that trading involves risks, and the views expressed here are for informational purposes only. It's crucial to conduct your own research and consult with experienced professionals before making any trading decisions. Stay disciplined, manage your risks effectively, and maintain a well-rounded approach to trading. Get ready to witness the breakout unfold as EURUSD charts a new course. Dont forget to press the like the button if you think this insight was helpful ! 💪📈🚀 feel free to share your toughts in the comments section.
Long
by Thomas_Zito
2