Zonetrading
CHFJPYgoing to have a deeper pullback to stop-hunt of the long position probably! be more patient if you are long on CHFJPY!
what is a weak or a strong exhaustion? after buyers and sellers have had battle at a significant zone and there is a clear winner with a move to the upside or to the downside we will then wait for exhaustion back to that zone, but how do we know if exhaustion is strong or weak? we have rules that if exhaustion is strong then we wait for double confirmation and if exhaustion is weak we just wait for price action with a bullish engulfing or significant pin par on the 4h timeframe. so a strong exhaustion will be just 1,2 or 3 candles back to area of sensitivity, no flow, just a straight shot to our zone. a weak exhaustion will have minor push and exhaustion cycles within the exhaustion, this is where entry confirmation will just require a bullish candle or a pin bar on the 4h timeframe
Long opportunities in Gold - Long-termThe gold price more than started correcting itself almost 6 months ago, was ranging corr3ecting between 2074 - 1686, as the long-term picture were looking so bullish, I was waiting for the price to correct itself, and now the entry matches my criteria, so here we go!
What Are Zones zones are major and minor areas of sensitivity where buyers and sellers have battle, they are one of the most important aspects of trading as zones help you set targets, help you identify direction and also let you know when and when not to enter a trade. here at forex gentleman we identify our zones based on their significance, so we have our monthly, weekly, daily, 4h and 1h zones, these are all different colours on our chart and have difference in significance. we know that when price makes its way to a monthly zone that it has more buy and sell pressure than the weekly and the weekly has more sell and buy pressure than the daily etc. so we only look for trades when price has "free range" from these zones to place entries because then we don't have a major battle to our take profit
AUDNZD long positionConfluences:
-Price retraced as I predicted before, trade hit my take profit and at the 50 fib retracement (right now) I entered a buy.
-The 50 fib retracement is also above a zone which is a very strong support.
-If price breaks this, I will re-enter at the 61.8
Feel free to tell me what you think!
Don't worry about BitcoinBitcoin is still in up channel and it needs to make a lowSo to make an another low, Bitcoin needs to retrace and right now(2/24/2021) BTC is experiencing a corrective wave.] Also Bitcoin is experiencing a bearish candle in weekly time frame.
Based on fib retracements , Important support zones are:
Zone 1: 45100 - 44500
Zone 2: 42230 - 41700 (chance to return from this zone)
Zone 3: 39600 - 39000 (difficult to break out this zone)
Zone 4: 37400 - 36700
Zone 5: 34500 - 33400
Zone 6: 30000 - 29200
This is not an investing or trading idea, This is just an analysis for BTC recent corrective wave.
Do your own research and remember risk management is the key of success in financial markets.
Thanks for your time
Comment your idea and let me know what you are thinking
how do we set our zones we get lots of questions asking us how we set our zones and what makes a zone a monthly zone, weekly zone ect ... so I have created this short video explaining how we do it here at FXG
NZDJPY, 1hr tf, buy setup at the end of wave-ivHello my friends,
Today i am gonna buy NZDJPY.
Previously i took sell order from 76.55 and closed it at 76.00 and banked +55 pips which yield 2.75R.
I didn't posted it on tradingview because i was not on my laptop when i took that trade.
So instead i will share the buy position today.
As you can see, price retrace towards 61.8 fibonacci retracement which also has a horizontal support level at 75.90.
Additonally there is 200-EMA at here as well so this place is an area of confluence support.
Buy NZDJPY 75.90
Stop loss 75.50
Take profit 77.20 (3.25R)
Use only 1-2% risk
Good luck
XRPUSD support and ressistance zoneNow we are in resistance zone.
decrease is probably.
Buy zones are: 0,55, 0,52, 0,50, 0,44 ...
CHF/JPY AnalysisWelcome back! Please support this idea with a LIKE if you find it useful.
*** CHF/JPY - Play the recorded analysis and comment below with your thoughts or questions! Thanks for growing the community! :)
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KOTAK MAHINDRA BANK AnalysisKotak Mahindra Bank Limited is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management.
Right now, According to the wave theory, Impulsive waves are countered recently by the Corrective wave by making lower low than the previous corrective wave.
Also, there is a Demand zone below from where we can expect a bounce.
There is a Resistance level at the top. This level is fresh and thus may be broken also.
So, wait for the price to bounce at the Resistance level, and then we can short our stock.
AU is approaching a good Sell ZoneConfluences:
-Downward channel
-Price will be near a zone
-Will look for continuation and a lower high being formed before entering on the 30 min or 1 hour candle
-the dollar will still be strong for at least a week or two (as seen from the dxy) so my bias will be short for swing trades like this.
I will keep this updated if and when ill take a trade
US30 DOW JONES sell continuationHi traders, US30 nicely reject on our supply zone and droped down. It breaked below trendline agressively, and shows that price is gaining on bearish momentum. I expect price now to correct so we might see price retrace back to fib levels. There is still a lot of uncertaintes in America, so we might also get price to push back and retest zone with taping on 0.786. Anyway i think that price will continue to the downside, i expect weaker DOW in next days. And there is still daily divergence on macd which can push price down realy agressive. Keep your eyes on it and wait for correction, and stay patient!
XAUUSD, 1hr tf, buy on EMA-200 bounceHello my friends,
Another trade setup for today before i am going offline.
As you can see, XAUUSD recently dropped 580 pips in only 1 day.
It finally find support at EMA-200 of 1hr timeframe.
In my opinion, we could see some bounce to the upside. Maybe to test 1936 area.
Notice also there is an inside bar pattern occurs at support.
When an inside bar occur at support/resistance, it usually could be a reversal pattern.
So after the hard drop, we might see some upwards movement.
Buy XAUUSD 1916
Stop loss 1908
Take profit 1936 (2.5R)
RR Ratio 1 : 2.5
Use only 1-2% risk
Good luck
USDJPY, 4hr tf, sell on area of confluence resistanceHello my friends,
As you can see, USDJPY just rally for 100 pips in the last 2 days.
In my opinion, this rally will be short lived as long as price below 103.70 on daily and 4hr tf basis.
We could see further upside if price managed to closed above 103.70 on the daily tf.
So as long as price below it, we will only sell on every rise (SOER).
As you can see 103.70 is an important level because it previously served as horizontal support.
Now that price already broken below it, this level will now become a resistance.
Right now the 4hr tf EMA-200 also located at 103.70 area so we could say this is an area of confluence.
I provide 2 trading plan where you could set your take profit.
Feel free to choose either one.
Sell USDJPY 103.70
Stop loss 104.00
Take profit 1 at 102.60 (3.6R)
Take profit 2 at 101.20 (8.3R)
Use only 1-2% risk
Good luck
EURUSD, 4hr tf, buy on retest of ascending trendlineHello my friends,
Today i am gonna trade EURUSD.
I am taking a buy position for this pair.
As you can see, EURUSD respecting this ascending trendline from the beginning of Desember until now.
As long as price above this trendline, we will only look to buy EURUSD on every dip.
Notice also price above EMA-200 so, we could say EURUSD is bullish.
I also marked potential horizontal support level with those yellow area.
This area is an area where price open with a gap. Usually this kind of gap will turn into support or resistance.
Buy EURUSD 1.2250
Stop loss 1.2215
Take profit 1.2470 (6.3R)
RR Ratio 1 : 6.3
Use only 1-2% risk
Good luck
usdchf 4h buyusdchf 4h Price comes down quite a lot. There is a significant support line at 0.872, there is an interesting reversal opportunity. BUY has resistance at 0.891 and 0.900 MM as well.
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Good luck.
