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Potential swing trade short on AUD/USDThe AUS/USD is within an established bear trend on the 4-hour chart, and closed to a fresh YTD low on Friday having broken beneath the March and April lows. Prices have managed to retrace over the past two days during lower-liquidity trade whilst the US dollar’s rally took a breather. For now, we’re looking for evidence of a swing high below or around the 0.6550 – 0.6572 zone which includes the weekly pivot point, March and April’s lows. We note that some of the heaviest volume during its previous leg lower is at 0.6532, which suggests bears are caught short whist prices retrace higher. SO whilst we see the potential for another burst higher, it’s important prices remain below 0.6580 (otherwise we can expect bears to cover and trigger a short-covering rally). The initial target is around the 0.6500 handle / last week’s lows, a break beneath which brings the 0.6450 / weekly S1 and 0.6400 lows into focus.
Short
by CityIndex
EURAUD I 100 pip swing coming soon I Watch and prepare 🎯Welcome back! Let me know your thoughts in the comments! ** EURAUD 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
15
Potential swing trade on NZD/JPYA soft inflation report from New Zealand weighed broadly on the Kiwi dollar yesterday, as traders began to price in the prospects of a 25bp hike (down form 50bp) or even a pause at the RBNZ's next meeting. The slight risk-off tone saw flows into the yen, and risk-currencies such as AUD and NZD were lower which has placed ZD/JPY on our shirt watchlist. The cross has seen repeated failures to close above 83.50 over the past three weeks, and yesterday's high met resistance perfectly at the 200-day EMA. Given the bearish engulfing candle which has now formed, we suspect a leg lower seems more probably than a break higher. Also note the decisive close beneath trend support. - The bias remains bearish beneath yesterday's high - However, we'll seek bearish setups below/around 83.15 (50% retracement of yesterday's open-close range) - Initial target is the cycle just above 82.0
Short
by CityIndex
Brent Crude Oil Swing TradeThe price of Brent Crude Oil has fallen and tested the previous support level (Blue Line) outlined in the previous newsletter. Currently, we could see a potential swing back upwards. If the price breaks the support level, we could see a fall in price. However, I see the former as the more likely scenario, as the 0.5 Fibonacci level (Green Line) is also below the trendline - providing further support. This support is further backed by the Stochastic RSI and MACD indicator coming to show potential buy signals. To see why I chose these support and Resistance Levels see my linked idea below.
OANDA:BCOUSDLong
by BlackbearTrader
Mastering Multiple Timeframe Analysis Forex trading can be a challenging and complex activity. As a result, many traders struggle to find a strategy that works for them and often lose money. One important aspect of successful forex trading is multiple timeframe analysis. This post will discuss how to perform multiple timeframe analyses in the forex market and how it can help if you're struggling with the concept. What is Multiple Timeframe Analysis? Multiple timeframe analysis is the process of analyzing the same currency pair across different timeframes. By looking at different timeframes, you can better understand the market trends and make more informed trading decisions. For example, if you are trading the EUR/USD currency pair, you might look at the daily chart to get an overview of the long-term trend. You might then look at the hourly chart to identify short-term trends or potential trading opportunities. Why is Multiple Timeframe Analysis Important? Multiple timeframe analysis is important for several reasons. Firstly, it allows traders to understand the market trend better. By looking at different timeframes, traders can see if the currency pair is in an uptrend, downtrend, or range. Secondly, multiple timeframe analysis allows traders to identify potential trading opportunities. By analyzing different timeframes, traders can identify key support and resistance levels, trendlines, and chart patterns that may indicate a potential trade. Finally, multiple timeframe analysis can help traders to manage their risk. By looking at different timeframes, traders can minimize risk based on opportunities to place tighter stop losses and bigger target profit areas. How to Perform Multiple Timeframe Analysis Performing multiple timeframe analysis is not difficult, but it requires some practice and patience. Here are the steps you should follow: Identify the Currency Pair to Trade The first step is identifying the currency pair you want to trade. This could be any major currency pair, such as EUR/USD, GBP/USD, or USD/JPY. 2. Select the Timeframes to Analyze Next, you need to select the timeframes that you want to analyze. A good rule of thumb is to use three different timeframes: a long-term timeframe (daily or weekly), a medium-term timeframe (12 hours or 4 hours), and a short-term timeframe (15 minutes or 5 minutes). 3. Analyze the Long-Term Timeframe The long-term timeframe is the most important, providing an overview of the market trend. If you're a technical analyst, look for major support or resistance levels, trendlines, or chart patterns indicating a potential trading opportunity. F.Y.I. My trading is not based on Technical analysis in a conventional manner. I pay more attention to price in the form of price action candlesticks. This makes it easier to separate the timeframes and direction of price when I move up and down in timeframes. 4. Analyze the Medium-Term Timeframe The medium-term timeframe is used to identify any short-term trends that may be developing. Look for any key support and resistance levels, trendlines, or chart patterns that might indicate a potential trading opportunity. In this example, because GBPUSD is still in an uptrend, it's important to perform a top-down analysis that supports the different trend cycles on lower timeframes to remind yourself what the overall trend is, where the price is now, and where it's going next. I love the medium timeframes, such as the 12-hour and 4-hour, to analyze where the price is now and get more detail from the charts. 5. Analyze the Short-Term Timeframe The short-term timeframe is used to identify any potential entry and exit points for a trade. In addition, look for any key support and resistance levels, trend lines, or chart patterns that might indicate a potential trading opportunity. 6. Put it all Together Once you have analyzed all three timeframes, you should understand the market trend and potential trading opportunities. Use this information to make informed trading decisions, and always remember to manage your risk. In conclusion, multiple timeframe analysis is an important aspect of successful forex trading. By analyzing different timeframes, traders can better understand market trends, identify potential trading opportunities, and manage risk. If you are a struggling trader, consider using multiple timeframe analysis in your trading strategy. If you enjoyed this post and valued the tips, comment to this post to let me know your takeaway. If you're struggling with top-down analysis and have a question, reply with your question, and let's chat a bit. Your trading coach, Shaquan
Long
by ShaquanLopez
3
AUD/NZD holds support ahead of AU and NZ dataTechnically, AUD/NZD looks ripe for another leg higher as it is holding above trend support and the 100-bar EMA. A break above the weekly pivot point could confirm such a breakout and resumption of its trend and bring the weekly R1 / recent highs, with 1.10 also making an interim target along the way. However, keep in mind that data from AU and NZ between 11:30 AEDT and 12:00 could make or break this trend. Ideally, we’d need to see strong AU household spending, an okay (or better) business sentiment report alongside lower NZ inflation forecasts for this to simply break higher. For now, the bias is for a break above the weekly pivot whilst prices remain above yesterday's low. A downside break of the trendline suggests a deeper pullback is underway.
Long
by CityIndex
My Backtesting Results on NZDCHFHolding trades is what I want to get better at and backtesting is going to help me do it. I've backtested NZDCHF today and found that it was a remarkable session. I was able to enter 4 trades in the span of 3 months gaining over what would have been 15% from the trades, but one trade hit my break even point so I gained around 12% from my trades. I used the monthly, weekly, and daily timeframes with most of my entries coming from the daily timeframe. I used my own strategy known as TMP. It stands for Trend, Market Structure, Price Action(or, pending orders). I identify the trend first, then set my estimation zone, then place my pending order. In that order, thats it. I don't use support and resistance, trend lines, or indicators for the most part. I like using price action. Its my preference that has changed throughout my trading career. I've noticed I a few reasons why I don't enter my best setups are due it 1) Money trauma( family had poor money management) 2) Time limit( pressure from showing results) To get over those, I have set parameters to take partials, move my trades to break even, and set pending orders to eliminate myself not entering my own trades. This helps in the long run and has helped since collecting data on myself since the start of me using prop firms. I can only pray that through my backtesting and trading journey, this can help you too. Please let me know if you have questions regarding my backtesting or found something unique that helped you. Safe trading❤️
Education
by ShaquanLopez
1
Copper bulls to return around $4.00?Price action on copper has caught our eye, as its pullback from the YTD highs has paused above the November highs despite a surging US dollar. RSI (2) is overbought on the daily chart, and yesterday’s Doji held above the 20-day EMA. It's also holding above $4.00, whilst money managers and large speculators have continued to increase their net-long exposure to copper futures despite the pullback on prices. - From here, the bias is bullish above 3.95 and for prices to have another crack at the YTD high - Another approach is to scale into such a position with a wider stop, with a view to increase exposure if or when momentum turns higher sufficiently enough to call a swing low.
COMEX:HG1!Long
by CityIndex
🔻 How To Swing Trade In A Bear Market 🔻Forex traders that decide to trade in a bear market are looking for a strategy or a way to make a profit when markets are falling. But, is it possible to swing trade in a bear market? It is. The most used strategy in bear market trading is the swing strategy. Traders that want to swing trade must first understand the swing trade meaning. Swing trade is a trading path that comes with challenges. While many traders prefer to stay profitable in a continuing bull market, many traders will choose to earn their profit by swing trading in the following bear market. Swing trading is challenging but can also be profitable in short-term intervals. A trader must know how to use the given signals from the market before starting to swing trade in a bear market. How To Do Swing Trading Traders often wonder how to swing trade forex, and the first thing to know is the swing trade definition first: Swing trading is a type of trading style that focuses on profiting from changing trends in price action in short-term intervals. Swing trading is a trading strategy that involves holding a position long or short for more than one session. It can be from one day up, but not longer than several weeks. Traders that use this strategy look to technical and fundamental analysis. They try to explore trading opportunities and analyze price trends and patterns. Considering the volatile conditions in the forex market, a swing trader tries to catch a potential price movement and make a small profit out of it. Generally, swing trading is a good strategy for beginners because they can trade with much less capital than the other trading strategies. Is It Possible To Swing Trade In A Bear Market? A bear market in forex means that prices fall 20% or more from recent highs, which gives the traders a negative outlook and hopelessness. A bear market is always caused by a group of developments or events such as monetary conditions, monetary policy, shifts in yield curves, and many others. The forex market is very volatile and changes very fast. It creates many opportunities to catch the momentum of price action and make a profit out of it. Swing trading is one of the trading options in a bear market. Implementing a swing trading strategy for the bear market is one way for a forex trader to trade successfully. To swing trade profitably in a bear market, traders need to have a strategy likely to survive the changing market conditions. Swing trading in a bear market does work but usually can give the trader a tough time. Traders need to do a market analysis, research all historical data, and create a safe trading plan before going live. What Is Swing Trading And Its Advantages? Swing trading is a short-term trading strategy where you hold your trades for one day up to a few weeks at most. Swing traders use technical analysis, to make a trading plan, and a strategy for an entry and exit from the market. Swing trading can be divided into discretionary swing trading and systematic swing trading. From experience, traders have found systematic swing trading more efficient, as it has shown better results. Advantages Of Swing Trading Traders know their results quickly, from one day up to one month. They give time to work on the swing strategy and make changes on the next entry. The trader has a clear boundary because there is a specific area to observe, knowing exactly when the trade isn't working. Traders can easily limit the damage of a losing position. By entering and leaving the market in short periods, traders can identify a lot of opportunities. It allows the trader to spread the risk and minimize losses. It is important to mention that swing trading is a very good trading strategy for forex beginners and traders that are short on time. Swing Trade Strategy For A Bear Market Swing trading can make a trader's way much easier if they use one of the trading indicators and stick to it. The most are moving averages, Relative Strength Index (RSI), Stochastic Oscillator, and Volume. A trader has many options to create a swing trading strategy for bear market conditions. Traders also use mean reversion as the most common strategy type. In mean reversion, traders assume that the market will make some extreme moves to either side, and those moves are later corrected through a reversion to the mean. It means that the market tends to swing around its average. This strategy type, a mean reversion, is used to identify if the market is overbought or oversold. It is expected to give traders an entry signal. A different swing trade strategy is trend following, which is the opposite of the mean reversion type. This strategy suggests following the trend of direction, which is harder to succeed with than the mean reversion type. The breakout strategy is another type of swing strategy that traders use. This strategy is similar to the trend following, and it works with a breakout level. When the currency pair breaks a level and continues above that level, it is a signal that the market is solid enough and will likely continue in the direction of the breakout. This strategy is functioning the same way as the trend-following strategy. Traders do not always buy on a breakout of a certain level. Often, traders try to include other conditions that are important in deciding whether to buy or sell. Can Swing Traders Make Money In A Bear Market? Not many traders choose to trade in a bear market because it signals pessimism, and it is hard to know how long it will last. In a bear market, the primary trend is to the downside, and different rules apply. Knowing the bear market trading rules can position traders to benefit from them. That gives light on the pessimism of a bear market. There are many opportunities to make money for traders that know how to use the given signals. Taking a bear short swing trade, also called short-selling, will help you to gain profit using a swing strategy during a bear market. Traders need to do pre-market research, then work up to potential trades before they make an entry position.
Education
by FOREXN1
17
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. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
4
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
Short
by Swiing