NZDCAD: Classic Trend-Following Setup 🇳🇿🇨🇦
Hey traders,
NZDCAD is trading in a bullish trend since October.
Reaching 0.88 resistance, the pair initiated a correctional movement.
The price dropped to a trend line and perfectly respected that one more time.
Yesterday, the pair broke and closed above 0.86 - 0.8625 horizontal resistance.
It is a very important bullish clue, and it signifies a dominance of buyers again.
Look for buying opportunities from the underlined blue zone:
it is based on a horizontal resistance and a trend line.
I will expect a bullish movement from that area at least to 0.88 level.
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Swingsetup
DOLLAR INDEX (DXY) Time For Correction?! 💵
Dollar Index looks oversold to me:
the market was contracting within the boundaries of a falling wedge pattern - a classic reversal pattern.
Its resistance was broken today.
I expect a correctional movement to 102.86 resistance now.
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Back to 0.55000?After a rejection at 0.65000 on Dec the 13th, the sellers have stepped in and for the first time since October, price has started printing new lows. Thursday saw the market break a significant trendline which price has been respecting since October. Also, for the first time since October the market has closed the week with a strong bearish candle. A strong dollar could now be the remaining factor required to fuel a drive to the south and possibly revisit the October low around 0.55000 or lower
NZDJPY: The Next Bearish Wave 🇳🇿🇯🇵
Hey traders,
NZDJPY broke and closed below a major wide demand cluster on a daily.
The broken structure 83.8 - 85.0 turned into resistance now.
It looks like the pair is quite oversold at the moment.
The market will most likely retrace to the underlined area
and a bearish wave will initiate then.
Goal will be a rising trend line, matching the last higher lows.
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DOGE POTENTIAL FORECAST | TUESDAY | 20/12/2022 Doge is at a major monthly support whereby i do expect that level to hold. However, we may not be making the move to the upside as of now and am looking at some form of market structure form like a double bottom at the least before heading up. Will be DCA into longs for DOGE at this current price.
High risk high reward buys with a tight stop loss anticipating bearish structure to break. Upon confirmations of bos will be looking to stack buys up. This will be a swing trade.
NZDCHF: Bearish Move From Key Level 🇳🇿🇨🇭
NZDCHF reached a solid key level at the beginning of December.
The price formed a double top pattern on that and broke a support line of a rising channel then.
I think that bears may push the pair lower.
Next goal - 0.585
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NZDJPY: How to Catch The Next Bullish Wave 🇳🇿🇯🇵
NZDJPY is trading in a long-term bullish trend.
Since February, however, the price is stuck on 87.0 - 88.0 structure resistance.
To catch a bullish wave, wait for its breakout. We need a weekly candle close above that to confirm the violation.
A bullish continuation will be expected to 91.3 level then.
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SPX500 about to fall? Key-Level-Alert!Hey tradomaniacs,
SPX500 just pumped up towards a major resistance-area where a lot of bearish confluence is possible.
Generally I must say that the recent pump caused by Jerome Powell seems to be SUS as his entire speech was pretty hawkish.
I also think he doesnt really want stocks to move up as it would not ease financial conditions and boost inflation.
However, technically a good spot to watch! Either for shorts or a break to the upside!
What do you think?
AUD/USD lkely to fall!Hey tradomaniacs,
looks like AUD/USD is rdy to fall after creating a double-top.
Market-Depth showing DELTA-DIV by FP in the previous upmove, means a move down is getting prepared.
Still cautious due to upcoming CPI-Data from germany, so be carefull!
Technically a great chance!
What do you think?
USD/CAD likely to move up!Hey tradomaniacs,
USD/CAD has tested a strong key-support-zone which is the breakoutzone of the current major trend.
The oderflow looks bullish so far in the small timeframe, so I will give it a long trade but ofc with aggressive management until we see a break out of the current consolidation.
What do you think?
GBPUSD: Long-Term Technical Outlook 🇬🇧🇺🇸
GBPUSD is trading in a global bearish trend.
The price perfectly respects the boundaries of an expanding falling wedge pattern on a weekly.
Reaching its support, the pair started a correctional movement.
The market is already growing for more than a month.
Ahead is the resistance of the wedge. Depending on the reaction of the price to that,
I see 2 potential scenarios:
If the price respects that, a new bearish wave may initiate.
If the price breaks and closes above that, it will most likely lead to a continuation of a current correctional movement.
I will post an update once I see a decent confirmation.
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BTCOIN rally destroyed by FEDHey tradomaniacs,
yesterdays FED-Statement dissapointed the Market since it priced in a step back by the FED with a possible statement about lowering upcoming rate-hikes aswell as the speed by Jerome Powell to fight inflation.
The worse the economy gets the more pressure is on Powell & Co to re-allocate the current circumstances.
However, Jerome was clearly Hawkish and has made clear its not time yet to think about it... This could cause a mid-term sell-off as the next steps will be discussed in December. YIELDS and so the US-Dollar pumped hard cuasing more risk-off in the market.
Technically we have a good short opportunity here.
What do you think?
NZD/USD likely to fall!Hey tradomaniacs,
NZD/USD has created a double-top at the key-resistance-zone with the break and retest of the previous trendline.
Could be a good opportunity to short even though fundamentals are very mixxed as the market has no idea how to react to the todays ECB-Statement.
Strong Rate-Hikes combined with a bad outlook for the next quarter and year is usually a very bad combination and could boost the US-Dollar with a rosk-off-sentiment.
On the other hand the market could price in less rate-hikes when inflation settles down and the up-inflation-risk weakens.
However, technically a good chance.
AUD/USD lilkely to fall!Hey tradomaniacs,
looks like we had a fakeout on AUD/USD and so a nice chance to short it if confirmed.
We usually wait for a re-test and rejection to be safe, but if u want to trade aggressively u can also early-enter with a potential re-test.
However, recent news were mixed so market is very wild and risky to trade.
What do you think?
Swing trade setup for Oct 20Swing trade setup for Oct 20-------I DO NOT GIVE SOLICITATION TO BUY OR SHORT. USE YOUR OWN DISCRETION
I cover various stocks which can be profitable based on the stock charts and technical indicators. I try my best to explain as detailed as possible but your feedback is also appreciated
Before you enter a trade , one must learn how to master the charts as Stock charts play a big role in deciding when to buy or when not to buy. Technical Trading help in predicting price movements and have a risk management. Stock trading is like any other business and must be taken seriously. Lot of people lose money because they don't educate themselves and end up placing trades blindly which results in big losses
Stock charts is the major component day traders, swing traders, core traders use. Times and technology has changed and if you cannot adapt to the new methods , there is a high chance you will be left behind
Millions of shares are traded now using desktop , laptop or gadgets and stock charts is what majority of traders look at.
So , if you want to be a daytrader , swingtrader or coretrader learn how to read and interpret charts. There are lot of great books out there like Thomas Bulkowski's Encyclopedia of chart patterns and Steve Nison Japanese Candlesticks interpretation
Having someone experienced can also cut the learning curve time for a new trader. Trading does take time and with discipline , hardwork , dedication and most importantly Passion for this needs to be there.
AUDUSD Swing Upward 200+ PipsWelcome back! Let me know your thoughts in the comments!
**AUDUSD - Listen to video!
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AUDJPY: Very Bearish Outlook 🇦🇺🇯🇵
AUDJPY looks very bearish to me:
after a strong bearish wave, the pair was consolidating within a narrow horizontal trading range on a daily.
Yesterday, the price finally broke and closed below that.
I believe that it will push the market to the next support.
Target - 90.55
For entries, consider an occasional retest.
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