CHFJPY Trading Opportunity! SELL!
My dear friends,
CHFJPY looks like it will make a good move, and here are the details:
The market is trading on 171.22 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 170.72
Recommended Stop Loss - 171.51
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
Trading-signals
GBP/AUD SHORT TRADEAt a major resistance zone. supply area
great risk to reward setup.
i would wait for pre london session for a more clear reversal patter as we can still easily break above. entering now would present the best risk to reward setup. but the probablity is not as high as we can get later on before london session.
1:7 risk to reward
CADJPY On The Rise! BUY!
My dear subscribers,
This is my opinion on the CADJPY next move:
The instrument tests an important psychological level 111.01
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 111.44
My Stop Loss - 110.73
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
AUDJPY Trading Opportunity! BUY!
My dear friends,
Please, find my technical outlook for AUDJPY below:
The price is coiling around a solid key level - 97.891
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 98.312
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
USDJPY Massive Long! BUY!
My dear followers,
This is my opinion on the USDJPY next move:
The asset is approaching an important pivot point 150.25
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 150.41
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
GOLD My Opinion! SELL
My dear friends,
Please, find my technical outlook for GOLD below:
The price is coiling around a solid key level - 2034.9
Bias - Bearish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 2020.8
Safe Stop Loss - 2041.9
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
EURAUD What Next? SELL!
My dear friends,
My technical analysis for EURAUD is below:
The market is trading on 1.6563 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.6508
Recommended Stop Loss - 1.6592
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
EURAUD Sellers In Panic! BUY!
My dear friends,
Please, find my technical outlook for EURAUD below:
The price is coiling around a solid key level - 1.6479
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 1.6530
Safe Stop Loss - 1.6448
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
SWAP ZONES IN FOREX MARKET👋 Hello, Forex traders!
In a market situation, swap zones in trading are formed as a result of a change in market direction. When the trend changes, the price often returns to the previous support or resistance line. This is due to the fact that participants often use the lines as reference points for trading decisions. Swap zones can be used by traders to identify optimal entry-exit points for trades. For example, a trader can open a long position when the price is approaching support or a short position when the price is heading towards resistance.
What is a Swap Zone? 🧐
Swap zone in trading is a price level that was previously a support and then became a resistance, or vice versa. It represents a part of the chart where the price pauses or rolls back. It is formed as a result of a change in the trend direction. Swap zone is easy to use to identify reversal points. For example, if a price is in a rising market and is pulling back to support, it is a signal that the trend may resume. In order to increase the accuracy of swap zone, it is important to use it in combination with other tools of technical analysis.
Swap zone is suitable for deciding whether to open a position. For example, if a price is in a sideways movement and approaches swap zone resistance, it is a signal that the price may break through the level and start a new trend. We can open a long position if the price breaks the resistance, or a short position if the support level is broken. The assistant is useful in various trading systems, including price action and volume analysis systems. In price action strategies, it is suitable for determining potential support and resistance, and in volume analysis it is suitable for determining trend strength.
Here Are A Few Strategies To Give You An Example ✍️
Level Breakout. It consists in entering the trade after the price breaks through the swap zone. This is a signal that the trend will continue, you can open a long or short position.
Rebound from the level. Entry into the trade after the price bounces off the level. For example, if the price is in a falling market and bounces off the resistance swap zone, this is a reversal signal and you can open a short position.
Double Test Level. Opening a position after the price tests the swap zone twice and you can open a short or long position.
Pullback after a level breakout. Entry after the price rolls back after a breakdown of the level. It can be a sign that the trend is slowing down. When using the tool, it is important to consider the market direction, trend strength and trading volume.
Advantages And Disadvantages Of Swap Zone 📈📉
Before using a pattern, it is important to consider its strengths and weaknesses.
Pros:
• An effective tool for identifying support and resistance, as well as moments of opening and closing a position;
• use together with other tools of technical analysis to improve trading accuracy;
• easy to use and understand;
• possibility of earning with different tools and in many strategies.
Cons:
• They are not completely reliable and the market can go in a different direction;
• It can be influenced by other factors: news, fundamental data or changes in the mood of market participants;
• They do not always provide effectiveness.
In summary, swap zones are perhaps the simplest and most effective tool in a trader's arsenal. Levels are the most reliable piece of information you could possibly get about an asset and its price. No amount of analysis will ever tell you more truth than levels can.
Traders, If you liked this educational post🎓, give it a boost 🚀 and drop a comment
GBPCHF Under Pressure! SELL!
My dear friends,
Please, find my technical outlook for GBPCHF below:
The instrument tests an important psychological level 1.1164
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 1.1089
Recommended Stop Loss - 1.1203
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
HARMONIC PATTERN BUTTERFLY ✴️ Harmonic patterns are prevalent in consolidation markets. These patterns can be used as additional confirmation to enter a trade. Today let's study the Butterfly Pattern. The Butterfly Pattern in trading is a 5-point trend reversal pattern, which consists of two corrections that form the shape of a butterfly. The pattern can be formed on any timeframe, but most often occurs on daily and hourly charts. It has high accuracy, but like any other indicator, it does not guarantee profit. To increase the probability of success, it is necessary to use the pattern in combination with other indicators and methods of market analysis.
✴️ WHAT IS A BUTTERFLY PATTERN?
Butterfly pattern in trading is a reversal trend pattern, which is formed from two corrections with the formation of a corresponding shape. It is used to determine a possible market reversal. The formation was first described by Harold Gartley in his book New Wave Theory (1932). He is an American trader and analyst who developed several harmonic patterns, including the Butterfly, Delta and Harmonic Triangle. The Butterfly pattern in trading can appear on any timeframe, but is often caught on daily and hourly charts. For the formation of the pattern, it is necessary that the following point conditions are met:
X - the start of an bullish or bearish movement;
A - the end of a bullish or bearish movement and it's a start of correction;
B - maximum decrease or increase of the price during the market change; 61.8 - 0.786 retracement.
C - end of correction (retest of the A point area) and start of a new movement; as long as it does not exceed the A point.
D - 127% - 161.8% fibo extension of the XA distance.
Gartley's butterfly in trading can have two directions. To determine the Butterfly pattern, you need to find all five points of the formation. X and C are the beginning and the end of the basic movement, and A and B are the top and the lowest point of the correction. Point D is at 127% of the XA distance. If all five elements are present and meet the specified conditions, we can talk about a probable trend reversal. At the same time, it is desirable to use an indicator that would confirm the entry.
The butterfly shape does not always have to be perfect. Sometimes the AB correction can be steeper than the BC. The formation conditions are not always perfectly met. Often the XA distance can be slightly more or less than 127%. Stop-loss can be placed not only below point D. The Butterfly pattern is considered a powerful tool that helps traders improve results. But it is important to use it in combination with other market analysis techniques to increase the probability of success.
✴️ HOW TO TRADE A BULLISH BUTTERFLY
This is a 5-wave trend reversal pattern that represents two corrections that form a butterfly shape. Features of the design by points:
X - start of a rising movement;
A - end of growth and correction;
B - fall of the price during the correction;
C - the end of the process and the start of a new movement;
D - 127% - distance of the XA.
Entry into the trade is made at the level of point D, and stop-loss is set below point D. The target price is within A-D distance.
✴️ HOW TO TRADE THE BEARISH BUTTERFLY
Exit is made after reaching the target price or when trend reversal signals appear. This is a 5-wave market reversal pattern that represents two corrections in the shape of a butterfly. To create it, the following requirements must be met:
X - start of a falling movement;
A - end of growth and correction;
B - increase of the price during the correction;
C - the end of the process and the start of a new movement;
D - 127% - XA distance.
The entry in the bearish butterfly is made at the level of point D, and stop-loss is set above point D. The target price for the pattern is within the Fibonacci levels 38.2% and 61.8% of the A-D distance. Exit is performed after reaching the target price or when there are signals of trend reversal.
In both cases discussed above, it is important to combine the pattern with other methods of market analysis, such support and resistance levels, to increase success. You should not enter a trade if the pattern does not meet all conditions. Set a stop loss at a level that will limit losses in case of a failed trade. Also, you can move stop loss to break even once the price hits 38.2% Fibonacci level.
✴️ CONCLUSION
The experience of using the Butterfly Pattern has shown that it is quite accurate when trading in a sideways movement or opening trades with a trend. It can be used on any timeframe, but it is more effective in combination with other methods of market analysis. At the same time, the pattern does not always correspond to the conditions and can give false signals. For this reason, it is recommended to check it with the help of indicators. Harmonic patterns should follow the basics of technical analysis. In the first place, of course, is the market structure.
GOLD Technical Analysis! SELL!
My dear followers,
I analysed this chart on GOLD and concluded the following:
The market is trading on 2035.3 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 2024.3
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
EURUSD My Opinion! SELL!
My dear subscribers,
EURUSD looks like it will make a good move, and here are the details:
The market is trading on 1.0847 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.0792
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
GBP/AUD Trade Idea 2/24/2024We have 2 trade ideas for the upcoming trading week
Short trade: broken trendline and retested with a bullish candlestick closing on the trendline with a following bearish candle stick closing.
next clear support area should get tapped which i boxed up.
great risk to reward setup
Buy trade: If we break above the boxed zone where it broken the trend line and retested then we will look for buys.
Great risk to reward as well as the market should pull up 100+ pips on both buys and shorts.
i am personally looking for this Short all the way down to the support line i have placed.
USDCAD On The Rise! BUY!
My dear friends,
Please, find my technical outlook for USDCAD below:
The price is coiling around a solid key level - 1.3455
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 1.3496
Safe Stop Loss - 1.3432
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
GBPNZD Expected Growth! BUY!
My dear subscribers,
This is my opinion on the GBPNZD next move:
The instrument tests an important psychological level 2.0435
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 2.0572
My Stop Loss - 2.0366
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
GBPCAD What Next? BUY!
My dear subscribers,
My technical analysis for GBPCAD is below:
The price is coiling around a solid key level - 1.6956
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 1.7041
My Stop Loss - 1.6916
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
CADJPY Massive Short! SELL!
My dear friends,
CADJPY looks like it will make a good move, and here are the details:
The market is trading on 111.54 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 110.93
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
EURUSD Technical Analysis! SELL!
My dear friends,
EURUSD looks like it will make a good move, and here are the details:
The market is trading on 1.0783 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 1.0746
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
GBPUSD Sellers In Panic! BUY!
My dear subscribers,
GBPUSD looks like it will make a good move, and here are the details:
The market is trading on 1.2562 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 1.2618
About Used Indicators:
The average true range ATR plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK