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31052023 - #GBPUSDGBPUSD gave an initial sell to take out Monday's low before rallying higher. DXY hit a resistance above on the initial sell but came down to 104 (and lower) - the level I mentioned before basing. In a way, I was too aggressive on my 1.2395 level; (though DXY was at 104). Market went past it, to above resistance before coming down and bounced off at this 1.2395 level ( where the daily and weekly BZ meets). Could see some further upside, but would like to see price pullback to 1.2383 or so, fake breakdown before price stabilize and look for up. In a way, I was too aggressive because the green candles of the previous days does point to bigger upside before any sell could come. For today, I would say that we can see that price is within the zones, held by weekly BZ now, while PZ and daily BZ are below as support.
by FadeMeIfYouCan
29052023 - #GBPUSDGBPUSD was supported by monthly BZ, then went higher on Friday to my PHOD before coming down and closed near the mid. DXY strengthened while indices rallied though it cooled off towards the end. I am still longer term bullish dollar but today might see a pullback near term. Can be cautiously bullish above BZ 1.2353 for a move to 1.2373 and max 1.2391. If price trades below PZ, look for a re-test of 1.2300 but that should hold. Fading the two extremes should work for today.
by FadeMeIfYouCan
25052023 - $NDXNDX made a huge recovery after the initial sell off, hitting the weekly BZ and rebounded; I would say the initial up was technical, price is oversold at BB extremes but the subsequent rally was due to NDVA. Price is now supported by the BZ and PZ at the same prices thus a double support. TBH, I thought the rally was rubbish but price action is looking bullish now. I did say that I am not convinced of the rally; thus it would either be a case of NDX strength supporting the other indices, or NDX to falter and bringing SPX down with it. The location of such a bullish candle is uncommon to say the least, but I would say that to SPX/DJIA would be better candidates to go short from, while using NDX as reference.
OANDA:NAS100USD
by FadeMeIfYouCan
25052023 - #USDJPYOn Tuesday, market formed a doji and I said yesterday that expect a move down to re-test the lows (20 pips) and I was bullish DXY but indicate we might see risk off. Market hit the lows, did a fake out, then rallied higher. The BZ gave the lows and DXY did go higher and indices was risk off but still USDJPY went up. Today, we are approaching 139.89. It is a strong resistance. Am looking for some pullback/reversal from there. Overall, am still bullish dollar, though yes it had made a huge up move the past few days and could consolidate first. And I am still risk off (despite NDX rally, it looks fake to me). Taking into account the 2 points, IMO 139.89-140.31 is still levels to not hold longs but look for shorts. Just a point, note how nicely price made a fake dip down earlier on to the BZ before the move higher.
by FadeMeIfYouCan
24052023 - #USDJPYYesterday was much a risk off day with indices coming down but USDJPY ended flat as USD continue to shine (I am bullish on DXY and still is). Other currencies showed bearish price action against yen. But if you look at the daily candles, not much clue on the next direction; price look like it is just consolidating. Yesterday's candle is a doji; will it be a reversal candle? If DXY is to strengthen further as I mentioned, a reversal here will indicate risk off and probably further downside in indices. For now, price is capped by PZ; thus expect 138.25 to trade minimally (20 pips downside is nothing, yes). And based on the above thesis (of risk off), will like to see 137.67 trade today (stay bearish below 138.23 and trail stops to possibly 136.91.
by FadeMeIfYouCan
GBPUSD ____ INCOMING BEARISH MOVEHello guys, If you follow me already, you will know that I get my directional bias from the dollar index. In my previous post on the dollar (inserted below) I stated that I am bullish on the dollar which would mean I am bearish on GBPUSD. As you may see on my chart, I expect the price to run into my POI after inducing early short selling as marked on the chart before the continuation of the bearish move from last week. You will also notice that we have multiple sell-side liquidity just above my profit target zone which price loves to sweep. If you like this, check out my profile for more. DXY ANALYSIS EURUSD ANALYSIS Cheers, David
Short
by jabariofafrica
Maximise your trading success with market analysisWhen it comes to trading, one of the most important skills to develop is market analysis. When you know how to read the market and make informed decisions, it can be the difference between spotting high, medium and low probability trades. Here are some ideas to analyse the market and maximise your chance of success. Start with the Main Indices The first step in market analysis is to take a look at the main indices. These indices, such as the JSE ALSI, SP500, Nasdaq, FTSE100, and others, are a good indication of the overall market direction. Once you have seen the indices, you’ll get a sense of how the market is moving as a whole, and what kinds of opportunities might be available. Identify the major Trends Once you’ve looked at the main indices, it’s time to: Identify any market trends (Market environment) If the market is showing a strong uptrend (trend, momentum, moving averages analysis) Then it’s best to ONLY look for longs or buys. On the other hand, if your indicators suggest that the market has confirmed a downtrend, it’s best to look for sells or shorts. Look for Breakouts Sometimes the market doesn’t confirm an up or down trend. If you see the market is moving in a sideways manner, there’s still an opportunity to profit. In this case, it’s a good idea to write down the levels of breakouts you’d expect. If the market breaks up, you’ll expect longs, and if it breaks down, you’ll look for shorts. This way you’ll prepare for both outcomes And you’ll be able to capitalize on whichever direction the market takes. Final Thoughts Market analysis is a critical skill for any trader to master. When you start with the main indices, to identify trends, and looking for breakouts, you’ll be able to make informed decisions about your trades and get a good idea of where they’re more likely to head.
TVC:SA40Education
by Timonrosso
10052023 - #USDJPYDXY was strong yesterday but came down after hitting R at 101.75 or so. USDJPY as mentioned, 135.35 was strong R, which held the high, though it was much a sideways days for USDJPY. The same 135.35 level continue to act as R, though TBH tonight is CPI thus anything can happen. But for now, price action still look toppish here. IMO would likely revisit yesterday's low then it will be up to FOMC to trigger the next move. Below 135.11, expect a move to 134.65. If accepted then back up to 135.7. Rejection off which down to 133.77. However, if market can keep above 135.25, especially before FOMC, could trigger a strong up to 136.15 and 136.7 magnet.
by FadeMeIfYouCan
GoldViewFX - MARKET UPDATEHey Everyone, Perfect start to our week with our Bullish Targets 2017 and 2028 now HIT, highlighted on the chart by our arrow. 2028 is a weighted resistance structure and as highlighted on the chart needed a EMA5 cross and lock to open upper range or a rejection at this level. EMA5 did not cross and so provided the perfect exit for now. As stated already structure breaks will give openings to bigger ranges in one go so that's something we will keep an eye on and highlighted on the chart. We will continue with our plans to buy from dips and not chase from the top, as we play close to the ATH. Our long term projection still remains Bullish with plans for another ATH challenge and break with play into a new range for Gold this year. Patience is key as swings are expected. BULLISH TARGETS 2017 - DONE 2028 - DONE EMA5 CROSS AND LOCK ABOVE 2028 WILL OPEN UPPER LEVELS 2037 AND 2O49 BEARISH TARGETS 2005 - 1999 - EMA5 CROSS AND LOCK BELOW 1999 WILL OPEN THE SWING RANGE SWING RANGE 1979 - 1967 As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
18
GoldViewFX - MONTHLY CHART LONG TERM GOLD OUTLOOKHey Everyone, Okay for those of you who have only started following this monthly chart that we have been tracking, please review all the previous updates below as we continue to track this level to level to get upto date. This has been playing out perfectly and now we finally have a candle body close above 1976 on this monthly chart, as the month closes. This is the first candle body close above this level and we will also have a new Goldturn high on this monthly chart, as the new month starts. These are all strong ingredients for us to see a ATH challenge and potentially a break to create a new ATH. The only thing we need to keep in mind is the potential EMA5 detachment that will be formed, as the new month candles starts. We need to keep this in mind for potential swings down and use our smaller timeframes to buy dips accordingly. LAST UPDATE Please review our last update last week below. We can clearly see the detachment gap, which needs to be considered when managing risk for any longs. EMA5 has reached new high and this months candle close will be significant to confirm breakout. If we see a candle body close above the test zone it will lock EMA5 above the ATH Goldturn, opening the potential for a new ATH breakout or at the very least a test to the ATH. We will play it extra safe this week keeping exposure low. PREVIOUS UPDATE Please see our Monthly chart idea which we have been tracking over the last few months. We completed all our bull targets with our final target hit 2 weeks ago highlighted by the circle zone we heighted on the chart. This played out to perfection!!! Price fell just short of the ATH target test. This is a longer range/term projection so expect swings in between. We stated on last months candle close the potential of a detachment ,which will require some retracement. We need to keep this in mind for potential drops to complete the detachment. Price is now at a critical zone and we must tread carefully now. A test to ATH is likely and either a new ATH will be created or a big tank down. We will use our smaller timeframes to track the movement level to level. We were able to track and trade this entire movement using our smaller timeframes for entries and exits. We identified the swing from the support all the way up to our test zone target that we have been reminding you all every time we updated this chart. This open target gave us the confidence over the last few months to buy dips. The swings we had below we also highlighted, as detachments that were completed and provided the dynamic support for a push up each time. As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it! GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSD
by Goldviewfx
12