Charts247TradingAcademy

Charts247TradingAcademy Jul 5, 2024

The market is a discounting mechanism. When prices rise too high, buyers start taking profits, aiming to buy at lower prices during an uptrend. This behavior sustains the trend. In USD/JPY, this concept is evident. The swing low at 160.26 attracted strong buyers, pushing the price above the previous high, creating a new higher high. At this peak, buyers no longer...

08:14

Charts247TradingAcademy Jul 4, 2024

This morning, the focus is on the Dollar-Yen pair. The bullish trend is evident across all timeframes. Yesterday, we observed a strong break of the reversal structure at 161.269 after reaching a momentum high of 161.95. This break is crucial for the continuation of the bullish trend. Following the break, a bullish pattern has formed, and the price has moved into...

04:58

Charts247TradingAcademy Jul 3, 2024

The GBPUSD has traded above the Weekly Key Price of 1.2675, establishing an uptrend in the 15-minute timeframe. Although the weekly, daily, 4-hour, and 1-hour timeframes are bearish, we focus on trading what we observe in the current timeframe. With the price trading above 1.2675 and a bullish wave structure, our action is to either buy or remain on the sidelines...

17:19

Charts247TradingAcademy Jul 2, 2024

This is a comprehensive analysis of the GBPUSD ahead of the UK General Election scheduled for Thursday, 4th July 2024. The chart has been marked to highlight key levels (Decision-Making Points) on the weekly, daily, and H4 timeframes. Below is a summary based on the price analysis: Weekly: Strong Bearish The wave structure on the weekly chart indicates a bearish...

11:55

Charts247TradingAcademy Jul 2, 2024

Today, we're analysing CADJPY, GBPUSD, and AUDUSD. Key Note: Price is the leading indicator and reflects trader perception. We use price structures/wave structures to determine high probability price directions in the short, medium, and long term. CADJPY: Bullish trend continuation after a structural reversal. Look to buy after every pullback above...

13:11

Charts247TradingAcademy Jun 30, 2024

Welcome to this week's Forex Price Analysis for the week starting June 30, 2024. We're analysing GBPUSD, AUDUSD, USDCAD, USDJPY, and CADJPY. GBPUSD: The bullish wave structure is broken. High probability sell at 1.2654 targeting 1.2612. AUDUSD: A bearish wave suggests a buy at the low. A strong rally on Friday. Prefer buying after a correction to the 0.6640...

06:45

Charts247TradingAcademy Jun 26, 2024

The low of June 14, 2024, created a Trend Changing Pattern making a high of 1.07614. We then saw a discount towards the low but failed to make a new low. On Monday 24, June 2024 we saw a Bullish break of Structure making a high of 1.07465. The pullback low of 1.06836 before that bullish move is the Key price that gives us a high probability of bullish activity as...

13:23

Charts247TradingAcademy Jun 17, 2024

Today we are looking at GBP/JPY 5 Minutes timeframe. Based on the price structure, we believe that the high probability direction in the short term is downtrend. We have seen an ABC (Corrective) wave after the Low of Friday was made. Key Structures to note: Structure 4: 200.022 Downtrend continuation reversal point. Structure 2: 200.674 Downtrend Violation...

13:38

Charts247TradingAcademy Jun 14, 2024

Swing trading is a short-term strategy where traders aim to capitalise on small price movements within a financial instrument over a specific period. The goal is to capture gains from these "swings" in the market rather than focusing on long-term trends. In this example, I am trading the GBP/JPY using the market side and the session opening range as filters to...

13:19

Charts247TradingAcademy Jun 13, 2024

My focus this morning is on the GBPJPY, we have seen a strong reaction to the breakdown low that happened on 03 May 2024. The reaction gave us a bullish wave structure on the H1 timeframe, the concluding factor is that wave structure 4 failed to make an HH 5 (200.652). Instead of an HH 5, the price made an LH 5 in an uptrend. The price then proceeded to break...

06:04

Charts247TradingAcademy Jun 10, 2024

Based on our weekly analysis yesterday, CADJPY is one of our Sell Pairs. We are trading the CAD/JPY for a short-term sell looking for a target below 113.30. Stop loss above 114.40.

19:48

Charts247TradingAcademy Jun 9, 2024

Hi Traders, this is another episode of charts247 weekly trade planning session. We believe in trade planning because it helps us identify high-probability forex pairs that we should trade during the week. Below are the indexes based on the 4HR wave structure. DXY: Bullish Reversal (+ve) EXY: Bearish Continuation (-ve) AXY: Reversal (-ve) SXY: Bullish Pullback...

06:10

Charts247TradingAcademy Jun 4, 2024

The GBPUSD has made a wave structure (3) which signifies a strong up-trend is ongoing and we should be expecting a test or a break of the high. The Current price area is a High probability Buy Zone using the Fibonacci. Buy Profit Targets : T1 1.2849 & T2: 1.2902 Stop Loss:1.2733

06:50

Charts247TradingAcademy May 29, 2024

We have a completed Up-Trend wave structure in the Cable. Yesterday we saw a pullback below Structure 4 which is a reset structure. The price has stalled at the DH3 which was a Buy point for the last rally that took place yesterday. This is a high-probability setup. BUY Point 1.2754 STOP Loss: 1.2744 PROFIT Target: 1.2816

11:48

Charts247TradingAcademy May 28, 2024

Trade analysis and update on the state of play of the following currency pairs: USD/JPY, GBP/USD, CAD/JPY, USD/CAD, NZD/USD & AUDUSD.

05:54

Charts247TradingAcademy May 27, 2024

Momentum preceeds prices! The USDCAD has had a trend reset (Secondary Trend), which is key to the Up-trend continuation. The structural point for trend reversal is 1.3656, we want to see a second breakdown below the structure without breaking below 1.3624. A trade back above 1.3656 will be the first buy, confirmation will be a trade above 1.3671. In terms of...

Charts247TradingAcademy May 24, 2024

The USD/JPY has been a tricky customer in the past few weeks. We have attempted a few shorts which did not work out, the price persisted to the upside eventually breaking key structures that hold the downside. The Bullish breaks confirm the Longer-term trend (Bullish) has resumed, however, the current rally is losing steam and we can capture a strong reversal to...

05:36

Charts247TradingAcademy May 22, 2024

Types of Stop Loss Money Stop Definition: A trader sets a fixed amount they are willing to lose on a trade, for example, £20. Issue: This approach often leads to larger losses because it doesn’t align with market movements. Advice: Avoid using the money stop. Time Stop Definition: Used mainly by scalpers, this involves closing a trade if it doesn't move...