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USD/CAD HIT THE KEY SUPPORT ZONE AND 200-EMA AGAINUSD/CAD traded slightly higher after it hit once again the key support zone between 1.2580 and 1.2600 and the price step again on 200-EMA. That said, the recovery stayed limited near 1.2711. Lately, the pair has been trading in a consolidative manner, and thus, the experts will refrain from confidently calling its next trending direction. In order to start examining the bearish case, traders would like to see a dip below that key support zone. This will confirm a forthcoming lower low and may initially target the 1.2533 zones. Another break, below 1.2490, could invite more bears into the game, who may drive the action towards the low of July 30th, at 1.2420, or the low from the beginning of July, at levels around 1.2300. On the upside, the traders would assess a bullish-case scenario when we see a recovery above the zone at 1.2710. This could set the stage for upside extensions towards the high of July 19th, at 1.2810, the break of which could extend the rally towards the peak of August 20th, at 1.2947. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
GBPJPY 19 - 24 Sept Outlook and Trade PlanGBPJPY 19 - 24 Sept Outlook and Trade Plan Structure: Weekly closed Solid Bearish Daily Solid Bearish LH/LL 4H Bearish (First break of bullish structure) Nothing major changed from last week outlook except that we managed to close below 151 after we formed HH last week but failed to hold the bullish structure and on Friday we had formed LH on 4H after retesting the broken structure. My Trade Opportunities: If we managed to respect the broken range low and price forms resistance below 151.20, i'll be comfort for shorts below 151.00 targeting the lows created any may be continuation. If we failed to stay below 151.20 and price start holding above, i'll stand aside till we clear and hold above 153 as price failed since July to close above. News: FOMC and GBP Rate decision week. So map your news times and try not to hold trades during news time. Wishing all a good trading week! GBPJPY
by Amr_Sadek
GBPJPY 13 - 17 Sept Outlook and Trade PlanGBPJPY 13 - 17 Sept Outlook and Trade Plan Structure: Weekly closed indecision in range Daily Bullish 4H Bullish We had formed HH on Friday, and currently we are retesting last 2 weeks range. My Trade Opportunities: If we managed to respect previous week range, I'll be comfort for longs above 152.20 targeting recent highs and possible continuation. If we failed to respect previous week range low, I'll be comfort with shorts on resistance formation below 151.40 putting in consideration 151 level as a critical level to watch reactions once reached. News: GBP is having very important news on Tuesday, Wednesday and Friday. So map news time on your chart. Wishing all a good trading week! 4H Chart: GBPJPY
by Amr_Sadek
Bitcoin peak for 2021 using FIB time ZoneIf you can watch Trader Genius and his video titled "Another indicator of the next Bitcoin top" What I did was I used the Fib Time Zone and plotted them using the RussianBear metrics and Low and behold came up with a date of December 26th for 2021 as a key date. Could December 26th be the next Bitcoin peak? I don't know but it is somewhat compelling and would make more sense to me given that all previous Bitcoin Peaks were on the month of December for 2013 and 2017. Could it not be that we will continue this trend into December 2021 for the 26th based on a Fibonacci time zone point? Let's see what happens. here is the video by Trader Genius www.youtube.com
BNC:BLXLong
by altcoinb
4
USD/CAD HIT ONCE AGAIN KEY SUPPORT ZONEUSD/CAD traded slightly higher yesterday after it hit once again the key support zone of 1.2580, clearly visible on a 4-hour chart. That said, the recovery stayed limited near 1.2630. Lately, the pair has been trading in a consolidative manner, and thus, investors will refrain from confidently calling its next trending direction. In order to start examining the bearish case, the experts would like to see a dip below that key support. This will confirm a forthcoming lower low and may initially target the 1.2533 zones. Another break, below 1.2490, could invite more bears into the game, who may drive the action towards the levels of 1.2426 or slightly on South to the key support and psychological zone at 1.2300. On the upside, the experts would assess a bullish-case scenario when they see a recovery above the high of August 27th, at around 1.2700. This could set the stage for upside extensions towards the high at 1.2787, the break of which could extend the rally towards the peak of August 20th, at 1.2950. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
GBPJPY 30 Aug - 3 Sept Outlook and Trade PlanIt's NFP Week!! 1- Monthly structure still holding bullish and bouncing from 148.50 level. We are having 3 bearish candles since reaching year high at 156. This causing GBPJPY any up move is treated as a pullback until we have a close above 153 for the bullish momentum continuation. 2- Weekly is ranging between 148.50/153.40 with previous weeks are showing bearish structure within the range. Until we have a close above 153, GBPJPY will be bearish and any up move will be treated as pullback. Previous week was bullish but failed to close above 151.50/67 which is previous support, a close above it can give a nice push to retest 153. 3- Daily structure still bearish after reaching yearly high with LL/LH formation. Last support formed looks to be a double bottom which pushed price to retest above 151 and barely closed above it. Friday push failed to close above the recent resistance at 151.40. Until we have a daily close above the recent resistance, another push to the down side will be in play. A close above 151.40 will give a nice push to retest 152 with consideration to 151.67 the Weekly and daily support level currently acting as resistance. I’ll be looking to the following: Long: a support formation above 151.40 targeting 151.67/152 Short: A close below 150.50 will confirm the bearish momentum continuation for a retest to 150/149.50 News: Its NFP week on Friday, so expect the unexpected till Friday GBP: Wednesday and Friday will have important news JPY: Monday and Tuesday will have important news
by Amr_Sadek
GBPCHF - Look For Buy Setups!Hello everyone, if you like the idea, do not forget to support with a like and follow. GBPCHF is approaching our lower brown trendline so we will be looking for buy setups. Moreover, the blue level 1.250 is support from Daily timeframe. Thus, the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower brown trendline. (acting as non-horizontal support) As per my trading style: GBPCHF is sitting inside the purple zone, so I will be looking for bullish reversal setups on lower timeframes(like a double bottom pattern, trendline break, and so on...) Of course, unless the zone is broken downward, then we will be looking for sell setups on its retest. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
25
GBPJPY 23-27 August Weekly outlook and Trade PlanGBPJPY 1- Monthly looking heavily bearish and the close of this monthly candle will be very important for the bullish structure as if we closed below 151 this will be a confirmation for break of structure. 2- Weekly solid bearish close 2 support levels 151.50 and 149.70 confirming bearish momentum continuation. Currently GBPJPY is at the weekly range low since March 21 which is a critical zone that price always bounce from. A close below that range will confirm that the bullish trend is over and we could be preparing for a deeper correction to the down side, also that close will lead the monthly candle to confirm break of bullish structure. On the other side, a support formation above the weekly low will be a counter trend trade opportunity for longs on anticipation that the previous rejections from the weekly low are still in play for a move to the up side that is limited to 151/151.50 for the current bearish momentum continuation. 3- Daily structure continuing the bearish momentum that was built up during every bounce from a new low created. A resistance formation below the weekly range low will be required for shorts targeting 147.40. A higher support formation above 149.65 will be required for any pullback to 151/151.50. Currently I’m looking for the following opportunities: 1- Possible longs on support formation above Weekly lows targeting 151/151.50 2- Possible shorts on resistance formation below weekly lows targeting 148.30/147.40 News: This week we have important news for GBP only on Monday by 9:30 and JPY on Wednesday and Friday. Map your news time in your daily plans. Weekly Chart: Daily Chart:
by Amr_Sadek