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Trendcontinuation

EURUSD July 14th Daily AnalysisPrice currently in Monthly range zone 1.18206 - 1.22313. Daily RSI shows Bearish Divergence & Hidden Bullish Divergence. Bearish Divergence is when price made reversal from top of zone to bottom. The hidden Bullish Divergence has been slowly getting created. The marked circles are hidden bullish divergence which means trend continuation to upside. There has been a reversal pattern formed on 4H. You can view pattern in my link to related ideas. Waiting for breakout of pattern.
Long
by JasonFosterII
XAUUSD | Perspective for the new week | Follow-up detailsWe witnessed a 1,500 pips move in our direction since my last publication on this pair (see link below for reference purposes) and it appears we are at another juncture in the market that welcomes another opportunity to hop in the train of a second rally. The beginning of reversal set up at exactly $1,750 Level (Double Bottom) identified on the 29th June 2021 also falls at a 61.8% retracement of a Bullish impulse leg (see weekly chart) insinuates a strong trend continuation in the nearest future. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Reversal pattern (Double Bottom) Observation: i. The price has remained "supported" at around $1,750 since it broke above this level on the 15th of April 2021. ii. A peak at $1,915 was established on the 1st of June 2021 and since then we have witnessed a downward spiral after the completion of Double Top set up that I and my team missed! iii. The Demand level which had held price "supported" since April 2021 appears to be holding price again as a Double Bottom pattern emerges. iv. Double Bottom: We do have an extremely bullish technical reversal pattern in play that describes a change in trend and a momentum reversal from prior leading bearish price action as the twice-touched low @ $1,750 area is considered a strong support level. v. There is an identification of Key level @ exactly $1,800 which serves as a significant level that possesses a strong memory for bullish thrust since July 2020 (see weekly chart). vi. Breakout and rejection of the Neckline/Key level @ $1,800 during the latter part of last week trading session give some credibility to the Bullish bias hereby revealing participants clamour for Gold over the Greenback. vii. There is the possibility that the price may plunge to $1,78--- at some point but above Key level @ $1,800 remains our yardstick for buy opportunity in the coming week(s). viii. A Breakout/Retest of Neckline of the Double Top @ $1,870 might welcome addition to the existing position... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 1,500 pips. Risk/Reward : 1:5 Potential Duration: 15 to 25days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
OANDA:XAUUSDLong
by darcsherry
CHFJPY | Perspective for the new week | Follow-up detailsWe witnessed over 500pips move in our direction since my last publication on this pair (see link below for reference purposes) and it appears we are at another juncture where a possible Trend continuation is looming. The general risk-off tone of the markets is very likely to surge the Swiss franc into a higher high as I anticipate a Breakout/retest of Neckline @ Y120.700 area to clear all doubts off of Bearish tendencies. Tendency: Uptrend (Bullish) Structure: Supply & Demand | Reversal pattern (Double Bottom) Observation: i. In the view of a long term perspective that projects Bullish expectations, it is pertinent that we notice that price has continued to remain above Y119.000 since it broke above this level on the 29th of April 2021. ii. The Swiss Franc lost all it had gained (over 300pips) between 29th of April and 15th of June 2021 and at the time of writing this report price has come back to settle at the Demand zone where the Bullish run started. iii. The price consolidating between Y119.000 and Y120.700 confirms the indecision that has gripped the market in the last 3 weeks which also calls for patience if we plan to trade this pair in the coming week(s). iv. The appearance of a Double Bottom (an extremely bullish technical reversal pattern) inside the Demand zone expresses a build-up that supports a change in trend and a momentum reversal from prior leading bearish price action as the twice-touched low @ Y119.000 area confirms this zone to be a strong support level (as long as it is not broken). v. Considering the Impulsive Bearish move prior to the consolidation phase; I look forward to a Breakout of Neckline (key level @ Y120.700) for confirmation to hop in a rally. vi. It is also necessary that I state here that the Demand level is exactly at a 61.8% retracement of a Bullish Impulse leg on a higher time frame (see weekly chart). vii. Even as I remain unable to rule out a possible breakdown of Demand zone, Break out of key remains our yardstick for Bullish expectation in the coming week (s)... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:5 Potential Duration: 7 to 15days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
USDCAD to Rebound and Continue Climbing The pair started developing a new Markup, as we forecasted last time (see link below). This happened after the price managed to break out above the Accumulation range, as postulated by the Wyckoff Method. Due to the strengthening of the dollar, the price is likely to continue appreciating in the near future, though the correction could fall as low as the 61.8 per cent Fibonacci retracement level beforehand. Several factors substantiate the expectations for future gains. The Bollinger Bands are tightening, which indicates diminished adverse volatility for the time being. Meanwhile, the underlying bearish momentum is waning, as indicated by the MACD indicator. Finally, all of this happens as the price action is consolidating above the 38.2 per cent Fibonacci retracement level.
Long
by Trendsharks
EURJPY - Bullish Breakout Opportunity The EURJPY has recently broken out of both a period of consolidation as well as a previous level of resistance & I'm now looking for a bullish continuation up to the 132.50's level. After the initial break I'd hope to see some relief in price in a form of a pullback back into the level of structure that was just broken & that's where I'll be looking for my entry for a potential move higher. Originally I was looking for the 132.60's level which is a power level of past structure but seeing how a 1.618 fibonacci extension rests right below that level I see that has the safer area. Question or comments, please leave them below and I hope you guys enjoy! Akil
Long
by Akil_Stokes
2
USDCHF > Possible Bottoming Here and Start of New Trend!!Analysis on #USDCHF Hello friends. A possible head and shoulders pattern, if it will break the resistance line might be an indication to start buying some dollars in this market, my alert is set for when it will break the resistance level. I might be wrong here but I will love to hear your input on this idea as well. Friend, if I am helping you somehow, you can also help me by liking this post and commenting below. much appreciated Check today analysis below⠀ >>“In Trading Losses Are the Cost of The Wins, TradingAxis.” ____________________________________________________________________________⠀ -Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀ -Please note this is just a PREDICTION and I have no reason to act on it and neither should you
Long
by TheTradersAvenue
4
XAUUSD | Perspective for the new week | Follow-upWith over 1,700pips in our direction since my last publication (see link below for reference purposes) - strong bullish momentum continue to persist as buyers don't seem ready to give up additional gains. The bulls may push the price further up should the bears find it difficult to break down the Demand zone/Trendline @ $1,888 in the coming week. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline Observation: i. The break above Key level @ $1,900 during the course of last week trading session opened the possibility of a rally continuation. ii. The line drawn under pivot lows (Pivot I & II) is a visual representation of the prevailing direction of price action in the last couple of weeks. iii. On the 25th of May 2021, we experienced price breaking above $#1,888 (a level that rejected price for 7 days) to confirm an uptrend continuation. iv. The breakout of $1,888 was followed by a sharp rejection of this same level to form a new level for Demand (61.8 retracement). v. The area above Key level @ $1,900 shall be a yardstick for buying opportunity in the coming week(s). vi. CAUTION: Should price break down the Demand zone/Trendline @ $1,888 then we shall be looking at a possible nosedive in price action. Trading plan: BUY confirmation with a minimum potential profit of 2,000 pips. Risk/Reward : 1:4 Potential Duration: 1 to 4 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
OANDA:XAUUSDLong
by darcsherry
Opportunity to Join NZDUSD's Uptrend The NZDUSD continues to advance within an ascending channel underpinning the latest uptrend. The latter emerged in the wake of the ABC correction, which, in turn, followed the preceding 1-5 Elliott impulse wave pattern. The pair is currently consolidating above the 50-day MA (in green), 100-day MA (in blue), and the lower end of the channel. Once there is enough bullish commitment in the market, the NZDUSD is likely to probe breaking above the 23.6 per cent Fibonacci retracement level before heading further north.
Long
by Trendsharks
Sell Setup on USDCHFKeeping the bearish bias for the USD in mind, it seems we could be having a sell setup form for UsdChf. On the larger timeframes, price has rejected off of a non-horizontal resistance level and created strong bearish structure towards the downside of the channel. On the lower timeframes, price has broken some market structure by violating a recent support level. I'll be waiting for price to make a bullish correction movement to retest the level as resistance. The level I have outlined has added significance due to the psychological number it possess. Considering it's a round number like .9000, this adds some validity to the level. Let's see if we could get a pullback and bearish rejection before looking to sell.
Short
by CapitalHillFX
EURAUD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my YouTube Channel (link can be found on my profile page) for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on EURAUD. Here as you can see, the market broke above the previous highs of 1.5607 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.5478. Since my entry got hit, I put my stop loss below the most recent low @ 1.5346, and my target @ 1.5663. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation, advice or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Long
by Matthew_Spositi
2
GBPAUD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my YouTube Channel (link can be found on my profile page) for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on GBPAUD. Here as you can see, the market broke below the previous lows of 1.7926 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 1.7955. Since my entry got hit, I put my stop loss above the most recent high @ 1.8096, and my target @ 1.7767. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation, advice or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
Short
by Matthew_Spositi
ETHUSD Trend Continuation Pattern If you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my YouTube Channel (link can be found on my profile page) for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on ETHUSD. Here as you can see, the market broke above the previous highs of 3444.87 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 3314.82. Since my entry got hit, I put my stop loss below the most recent low @ 3149.10, and my target @ 3484.72. Ultimately guys, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So, take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation, advice or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
BITFINEX:ETHUSDLong
by Matthew_Spositi
BTCUSD Trend Continuation PatternIf you like the content and are getting value out of it, please make sure to hit that like button and leave a comment. Also, if you're interested in seeing more of my analysis don't forget to follow me, and make sure to check out my YouTube Channel (link can be found on my profile page) for more in-depth analysis. Welcome back for some more chart analysis practice. I found another trend continuation pattern opportunity here on BTCUSD. Here as you can see, the market broke above the previous highs of 56,438.9 and is now retracing back into a 0.618 Fib retracement level, which gave me my entry @ 54,867.5. Since my entry got hit, I put my stop loss below the most recent low @ 51,878.6, and my target @ 58,767.8. Ultimately, while trading can be very simplistic at times, it is genuinely a hard skill to master, and if you are serious about becoming a consistently profitable trader, then you need to master chart analysis. So take it seriously, get out there and practice it every day. Disclaimer: This is not a recommendation or an endorsement to buy, sell, or take any positions of any kind, in any market. This is for educational purposes only. I am not taking this trade in real life, and I have not back-tested this particular strategy on this currency pair, so I really don't know how this type of trading strategy will work on this currency pair. That being said, never trade anything you haven't back-tested on your own. Don't trade a strategy just because someone tells you it's a good strategy, always back-test the strategy in question over historical data before trading it with real money. Trading a strategy that has not been back-tested is the equivalence of gambling your money away, or trying to shoot a target when its pitch-black outside. You work hard for your money, so don't throw it away.
BITFINEX:BTCUSDLong
by Matthew_Spositi