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Update on the movement of EURUSDHello traders, our trade is going on as planned, however with the current outlook on the EURUSD, it seems a double top is forming on the H4 TF (more visible on the H1 and H2 TF). This could mean buyers should be cautious or lock in some pips on the long trade. The 1.16400 is an important price to be monitored. If bulls are unable to push below this price, then we can hold on to our long position. However if bears should break below this price to the neckline found between 1.1626 and 1.1617 zone, then it is a confirmation that a reversal has commenced on H4 and price will shoot further down. for now, we still hold our long position, but lock in some profit and be on alert. Remember we are also expecting high impact news on Thursday and Friday. I believe the outcome of this news will greatly impact the next direction of the Fiber. your contributions are welcome. You can also follow me on trading view, twitter, medium and Youtube to get more update on EURUSD and other pairs.
Long
by babasholajoshua
quick day trading long position on EURUSDHello, traders! Based on our EURUSD lookout, I emphasize that a double top formation formed on the weekly TF in which the neckline was broken. Right now, the price is heading to the neckline (around 1.17) for a retest (where we took our short-term long trade). Looking at the D1 and H4 TF, it seems the price is retesting the median line and the broken short-term resistance before it continues to the upside. It should also be noted that bears manage to find resistance at 1.16686. However, with the strong bullish momentum, this zone can be broken. With this situation, another short-term long position can be open with a good RR. An entry (buy limit) at 1.16331, with SL placed around 1.16085 and TP around 1.17100. The RR is 1:3.68. We are taking risk with tight SL, making the risk less risky. If you like my analysis, you can follow me and feel free to add your thought or opinion. You can also ask any question. Disclaimer : Trading forex involves high risk, and is not suitable for all investors. Before deciding to trade forex, you should consider your investment objectives, level of experience, and risk appetite. The author is not liable for any loss of investment or capital during trading.
Long
by babasholajoshua
USDJPY is testing its upward channel for once moreUSDJPY is testing for once more the top of its rising upward channel. Besides of the channel the pair is testing multi highs at the 114.35-65 area where we believe that sellers would emerge aggressively. We have opened SELL positions at 114.35 preparing to add more on any new upside towards the 114.55-65 area. We will set our stops above 115.20 for 113.20 target. We will come back with updates... Below you can see the weekly chart of the pair. RSI is testing also its previous highs that have led to corrections...
Short
by Chartist-Trading
2
AUDUSD: Testing critical resistance at 0.7350-60 areaAUDUSD is testing critical resistance at the 0.7350-60 area. Besides the hourly readings that we see in the chart, the pair is also testing the basic down trendline that we can see in the Daily attached chart (yellow trendline in the hourly. The move will find us sellers at current levels adding more at 0.7360. We'll set our stops above 0.7385 targeting 0.7315 and 0.7290 initially... We will update if needed... Daily chart follows
Short
by Chartist-Trading
1
Google, 7 OCT - Elliott waves | Gann | Astrology $GOOGAlphabet, as expected, bounced off the 20 week MA (in red), and we closed longs at Gann level 2651. But the count hints at more downside in the mid-term. Since the ATH, price declined in ABC patterns, so that we can assume a WXY or a complex ABC is unfolding. If correct, sellers may step in at the 20D MA again. A possible area is the blue box (.618 to .786 Fib). Ascendant conjuncts natal Jupiter on 9 OCT. The following trading days 11-12 OCT have higher probability for bearish price action. We may watch out for an expansion of volatility again. A short idea could be interesting at that point, however needs further confirmation. ______________ www.constellations.trade In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range. Open an account here if you'd like to support my work: TastyTrade America's best Options, Futures and Crypto broker start.tastyworks.com Deribit The world's most liquid Bitcoin options platform www.deribit.com Binance 10% off trading fees with this link: accounts.binance.me These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice: STO = sell to open BTC = buy to close BTO = buy to open STC = sell to close TD = Theta Decay (for example a strangle or iron condor) Disclaimer: The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
NASDAQ:GOOG
by UnknownUnicorn12250317