Rejection
Dow-Jones video top-down analysisHello everyone, here is the top-down analysis for US30, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
Gold Sell SetupGOLD is now sitting around the 1900.0 green round number so we are waiting for a break below the lower red trendline last swing to sell.
Our red trendline is valid, but it would be better if the price forms a new blue dot (swing) around it so that our stop loss would be smaller.
Until the sell is activated we would be overall bullish, and Gold can still test the upper blue trendline and blue supply zone before going down. In this case, we will be looking for a new sell setup to form around it.
When the sell is activated, our stop loss would be above the last red dot (swing high).
And we always target double our stop loss size.
Good Luck!
AUDCAD Sell SetupAUDCAD is forming a head and shoulders pattern around resistance.
We also have a divergence adding more confluence to our setup.
Our trigger would be after a momentum candle close below the neckline.
And the stop loss would go just above the right shoulders.
We always target double our stop loss!
Good Luck!
GBPJPY Sell SetupGBPJPY formed an objective trendline in red around resistance.
we also have a divergence adding more confluence to our setup.
our trigger would be after a momentum candle close below the last swing (in gray).
and the stop loss would go just above the last high.
we always target double our stop loss!
Good Luck!
GBPUSD - Short trading idea GBPUSD recently went through a positive short-term period, with the price taking nearly 300 pips from its low at 1.2675.
Despite that, the bigger picture shows a trend that is still down:
From a technical point of view, we have a sustained downtrend line that seems to hold the pressure of buyers. Last touch of that downtrend line was followed by a huge bearish candle, pushing the price down by 70 pips in 20 minutes. Sellers are still on the market.
There is a possible formation of a pennant, with a short-term uptrend line at the bottom (highlighted in red in the chart), so we will double-check market action if and when the price reaches that level.
Putting this trade on a larger context, GBP might face a tough period, with the UK that is struggling to handle a very difficult situation related to the coronavirus.
Yesterday, Prime Minister Boris Johnson stated that this the UK is at 'critical moment' with coronavirus.
For the first time, daily cases in UK broke the barrier of 7,000, reaching a new critical level at 7,143.
With more news coming today and the Nonfarm Payrolls for the USD coming tomorrow, we can expect good volatility, so be careful and manage your risk properly.
You can follow this trade real time on my account in the Swing Trading course on Udemy .
Good luck!
EURCAD Sell SetupWe are waiting for a momentum candle close below our green trendline last swing standing to sell this one as we have three confluences for the sell.
and as mentioned before, we are only interested in buying this one if the price breaks above the gray level aggressively, so if the price breaks the red trendline objective we will not buy (anyway we don't have three confluences for now)
EURJPY Sell SetupFor those who didn't enter the sell from H4, can wait for a momentum break below the lower blue trendline last swing standing to sell this one as a trend-following sell setup around resistance
if the price breaks above the upper purple trendline we will not buy as EURJPY is sitting around resistance (we will only close our sell from H4)