RTM
GBP-USD LONGWith the price being in the range of local support and strong main support, the price is expected to increase by at least 0.5 fibo.
According to the Today's Unemployment Claims news, it can be entered in two steps at the prices of 1.24590 and 1.24323 .
In the final part of the trend, we see buyers gaining strength.
*** Best Of Luck ***
A BUY OPPORTUNITY ON USDCHFA demand area was formed prior to breaking the last supply area. I've selected the base candle right on the lower edge of demand zone as an area to buy.
* But bear in mind later today we have highly important news hitting dollar market which makes our analysis subject to the news *
A SELL POSSIBILITY ON EURCHFJust above our Resistance level which has been tested multiple times already there you can see a supply area untested. we could wait for the price to get there and act in the following ways:
1. aggressively take a short trade upon price reaching our level
2. cautiously wait for reversal signal maybe a change of character in lower time frame upon reaching our entry
FIL/USDT 4H: ready for short positionIn the daily time frame, we can see that after breaking the trendline, it could not cross the static resistance (flip zone) and take back the last top
Weakness in price stabilization is evident
In the 4H time frame, we have an upward trend line that the price has penetrated twice and is currently moving tangentially with it. There is also a support zone that has prevented the price from falling
If the trendline and the support zone are broken, we can enter the short position in this area in pullback (according to the drawn scenario)
A long ScenarioAnother example of QM setup has formed on 30 min timeframe.
As always we could go two way about this trade, risky which means entering as soon as price hits our entry or confirmed which means looking deep into lower timeframe for reversal as soon as we price reaches our entry.
** Remember this is the second time price visiting our QM level so it involves some degree of risk
**Important notice: later today we have a news coming for USD which might impact the trade**
$$ STAY TUNED FOR FURTHER TRADES AND ANALYSIS $$
An Example of QMYou've all noticed that I use RTM patterns extensively in my daily trades. Here is another example of QM.
As always we have a perfect setup which was confirmed by breaking the last high with a good momentum candle. Upon retracing back to the QML, market bounces off and goes all the way back to hidden FTR. Should there be enough buyers price could continue further up to the 87.80 level which happens to be a supply zone.
But there is a important thing here, make sure you check out the news because in couple hours major news will hit the NZD and this whole analysis could go other way around.
Stay Tuned for further Education and analysis
A possible Long Scenario As it's shown we have a possible QM setup at the lower extreme point. As always two types of entry could be taken into consideration.
Risky Trade : Enter upon, price reaching the entry level and set the SL and TP accordingly. This method is riskier because it might ignore the level and hit the SL.
Confirmed Trade: Upon reaching the entry level, Check the lower time frame like 1 or 5 and spot reversal ( CHOCH) to the upside.
A long Opportunity on AUDCAD As is shown on the chart we have a QM setup right at the bottom extreme point.
Two types of entry could be taken into consideration:
First one is a risky entry once price reaches our entry, we enter a long trade with no hesitation whatsoever.
Second one is a confirmation entry trade which means in lower time frame like 5 or 1 min we spot a reversal and then jump into a long trade.
Will the Demand work for second time???As you can see we have a QM pattern right at the lowest extreme point. we know that there will be reaction there once the price gets there. But the problem is we've already had a one time test of the QM. Trading it for second time could be risky.
how to trade it ??
We can wait for the price to get there and in lower time frame spot reversal then enter long trade.