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Technicalanaylsis

AUDUSD - Intraday Analysis & my Entry levels🙋‍♂️Hello FX Community! Check out my Intraday analysis for AUDUSD and also my entry levels. More descriptions about my trading. I am not patterns trader. My strategy and edge is looking for strong volume zones where Big players were trading. And if a market will come to this zones, I want to trade there again with them. So every day I prepare key levels and key zones and I am waiting when a market will come there. 📲In the chart you can see Long / Short levels into which I enter directly through the limit and then I control them based on the volume . If the market does not respect the level and starts to form a volume in the negative zone, I try to end the position at the breakeven point or stoploss. I set the Profit Target according to RRR or according to key levels and S / R zones. These levels can also be traded from the other side, support becomes resistance and vice versa. ❗️First of all, when I have the level ready, I have to set a Stoploss. Stoploss is determined by several criteria. First of all, it must not be too far away and also it must not be in an area that serves as a magnet such as POC , Key Levels or a stoploss zone, where the market will run out of liquidity. Summary: Stoploss determined by. ✅1. Pivot High / Low ✅2. Logical zone according to VolumeProfile ✅3. Low Volume Node and High Volume Node ✅4. Outside of key levels 🎉 Management Rules: ✅When I see in negative zone 5 minutes whole candles ( for short level "over" the level for long level "below) I move my Take Profit to BreakEven point and I want to exit position on Entry point or my Stoploss. ✅ When 80% of profit is reached I am moving my Stoploss to BE point. Hope it helps, Have a nice day!
by Asanato
6
Short idea on SPX (S&P500 index)This is looking more and more like a bull trap the more i look at it... We've seen a strong push to the upside around 20% or so from the lows and now everyone thinks its "bull season" I'm sure most of you is aware of the dead cat bounce theory, and for those of you who don't it is basically the thought that if you drop a cat off the roof it will bounce a bit higher after hitting the floor before falling again maybe even lower in the case of the market, and this is very similar to the market that we are seeing. With that being said we know that the market has been falling since the 20th of Feb and we have currently seen quite a positive move to the upside (20% or so from the lows) which is tricking the "silly money" into believing that this is the bottom and we are on our back to all time highs again, a classic bull trap! People seem to forget that fears of corona virus are not subsiding, if anything this corona virus is just getting started, the US has officially become the most infected Country in the world with the most amount of confirmed cases in the world! This isn't a positive for the US I can promise you that and It isn't going to have a positive affect on the dollar, the S&P 500 or any of there stocks. The spread of Covid 19 (being politically correct and all) is spreading faster and faster as the days go by with no real stop in sight, we are seeing deaths rise at an exponential rate as well as the number of people being affected climbing daily. I don't know about you but in my mind this doesn't paint a very positive picture for the dollar index, or the economy at large, but more specifically the American economy. With that being said i don't think that this is the end of the "crash" i see a lot of downside still to come and this is why: 1. As i stated above USA has the most confirmed cases in the world which can't be a good thing for them from an investment point of view. 2. The US Dollar index has recently seen a change in direction over the past weak or so indicating a change in direction to the downside, which is a good indication that we might see the US dollar index weaken in the coming week or so. FYI: The U.S. dollar index (USDX) is a measure of the value of the U.S. dollar relative to the value of a basket of currencies of the majority of the U.S.'s most significant trading partners. So in other words it is a direct representation of the strength f the dollar relative to other currencies. 3. The market formed a gap on its short burst up in price at around 2291 - 2340 and it is a well known phenomenon that when the market forms a gap in price that the market will make it's way back to close the gap. So with this being said i am quite confident that the market could make a move lower back to the lows in order to close this gap. 4. There is also a Fibonacci level or two in play here, we have the 50% retracement level around 2664 and the well known 61.8% retracement level a little higher at around 2774 (which is less likely to see price retest this level but still very possible). In conclusion I can see price perhaps pushing a little higher in the early days of this week, before falling further to at least the lows that were formed or even as low as 1939. Upon seeing a push lower i will look for bearish confirmation/bearish corrective structure before entering into a short position. Please note this is not trading advice and i am not pushing for a sell or buy but this can be seen as merely a market idea.
TVC:SPXShort
by Jinxfx
1
No trade idea for now. But we are still looking at CHFJPYI pulled the text, etc. down on the chart for the candles to show better. This is the 1D timeframe. See how long the uptrend was? A good few weeks right? I think we're going to be seeing a downtrend for a while. So far, if you look at the chart, with that tangle of trendlines and support and resistance you'll see that the market always returns to specific levels. You will often see specific areas that the market may try to break past, but it takes a little while. I'm looking at my chart again. Again, this is the 1D TF, so I would have to keep in mind the overall trend, and determine if this is part of a reversal or a pullback in the overall trend. I'm going to switch to the M timeframe. The larger trend shows a peak at 139.137, maybe around late 2015, early 2016. Since then, it's been coming down to an area of consolidation (using that term lightly). But why do I say this? Again, my chart. I know, I know, all those lines, all that colour, what can I possibly see in it all. Well. That's it. It's all clustered together. So, that shows me that there is where a lot of the price action happened. and it stayed relatively to that area. Maybe the pair is waiting for a breakout. Will it go up? Will it go down? That's on the M timeframe, so that will have to wait. Back down to the D timeframe. Remember that we had an almost consistent uptrend since December. There were dips so some may have gotten some good sell trades in. But yeah, it continued upward til it *nearly, just barely* reached a Weekly resistance. Then is when we started to see the downtrend. So question the First - Do you think this is a definite reversal of the trend, or is it a pullback, with the market stretching further up? Okay, down to my favourite TF - 1H. Oh, yah, oh yah. I'm seeing those huge-ass bear candles, whoever got in then for that sell, good on you. I was still on the road, so I would have missed it - no laptop, and as much as I love the app (I'm actually using it in conjunction with the desktop site now), tradingview's mobile platform is not for me when it comes to more detailed analysis. So, that tangent aside, it was a steep drop. If you got in early, that would have been less stress for you. Little later, my dude, put on some SU, or AoT, or BnHA, or something that makes you happy, because - Look at what happened. See that move up? That's a pullback. What did the market do? It needed to correct itself, to be balanced. The market works best in your favor if it's in flux. Learn to read it, and play it like a cheap Kazoo. Back on point. My 1H chart shows a red(15 min) and a black horizontal line (M). That black one is key to me. That's a strong level. See how the market rallied to that level, tested it then moved down? Personally, I'm gonna keep my eye on it for the next hour or so to see , but I think it will continue down. I'm moving my chart to the 15 min TF. Nice - testing of the M level, then it started to move down. it's like a 30-45 min away from a daily resistance now. So what does that say? Well, wait for the candle close, and see if the sell is still valid. Right, so I know I went on a little ramble there. But it all comes down to your trading style. Do you prefer scalping, does intraday attract you? Or maybe a swing trader? I've given my views on a couple TFs here. So hopefully what I can say will benefit a good bit of you. As for me? It's like 2 mins away from candle close, I didnt get a chance to trade or test anything today, so I'm gonna give it a shot.
by kayleighramesar