GBPJPY is approaching a solid confluence area in the neighborhood of our R1 Pivot. The target will be 167.75 for a 5R trade. Good luck! ~ Happy Trading, Cheers! 💰
This sell setup is to fill the wick of yesterday's daily candle which closed bearish. Today's setup is a 3:1 reward to risk trade with a SELL entry slightly above the PIVOT POINT. Good luck! ~ Happy Trading, Cheers! 💰
To start, looking at this week's price action... the weekly candle could close bearish -- hence this sell setup. A break above 2040.00 will hint at more bullish price action.
A 50/50 Trade here on the GBPJPY. A buy entry at the PIVOT POINT once the price breaks above resistance, or a sell when it breaks below support. Good luck! ~ Happy Trading, Cheers! 💰
Today's price action on the GBPUSD was more of an indecision day, although still bullish in the long term. My area of interest is the 1.2520 level where I'll be looking to buy. It's a significant level, in my opinion, which hasn't been tested since we broke above it yesterday. The S2 Pivot Point falls in line at that level where I'll be entering with a 1.2610...
Today's trade on GBPJPY is a SELL. Following yesterday's bearish price action, we may continue to see more selling pressure to our target level of 167.65 level. Using the PIVOT POINTS, our trade entry is at 169.618 level, which is today's main pivot.... for a 4:1 reward to risk. Goodluck! ~Happy Trading, Cheers! 💰
USDCAD sell trade is to fill the wick of yesterday's daily candle, which closed bearish. Also noted was a false break below 1.36112, which is where our 2nd trade (add-on) would be initiated. With a 1.3545 target, that would bring our total trade to +5.5%. Good luck! ~ Happy Trading, Cheers! 💰
The daily chart seemed to have put in the low for the month of May. Additionally, yesterday's daily candle closed above the daily resistance level of 1.10500 -- as drawn on the chart below. Therefore, for this trade, I'm looking for a BUY after a retest of the broken resistance level for a potential 8:1 reward/risk ratio. A close below 1.10500 would invalidate...
Last weekly candle closed bullish on this USDCAD pair. We anticipate a fill on that weekly candle (wick) and potentially breaking above resistance 1.3075 key level. On this hourly chart, we see a bull flag forming which supports our bullish view. ~ Happy Trading folks! Cheers!
Aussie Dollar isn't as bullish as most people think. Aussie is weak, in my opinion, hence this short trade against King Dollar. We'll look to TP around .7100 support level. Feel free to comment below and let me know your thoughts. Cheers, and Happy Trading!
Could this be the start of Gold decline? The fundamental here is that USD will continue to rise which most likely will send GOLD lower. On a technical side of things, currently, we are seeing a bearish engulfing candle on the daily coupled with a tweezer-top candlestick pattern. However, at the moment Gold is at a support/psychological level 1800.00 with bias now...
EURUSD found support @ 1.1860. It's likely we'll see this pair rally up to fill the gap (shaven top) @ 1.21188 and possibly test the upper trendline. In terms of momentum... Monthly is bullish Weekly is bearish Daily is bearish and turning bullish 4 hr is bullish 1 hr is bullish Happy Trading folks! Cheers! :)
Let's take a look at Gold in momentum terms... Daily momentum is flat, 4 hour is bearish and increasing, 1 hour is bearish... if today we print a bearish candle on the daily then the next two - three days we'll see Gold fall back down to 1860 level. Happy Trading folks! Cheers!
Momentum is turning bearish on the 4hr time-frame and depending on the weekly close (bearish candlestick) we may see a tweezer top on this pair and for a further corrective move lower. Happy Trading folks! Cheers!
Here's a quick look at BITCOIN from a technical point of view. Currently, we are at an overbought level based on the stochastics. Also, noted on the chart, a hidden divergence (Bearish) suggesting a continuation lower to 27851.xx. Now looking at momentum, the daily chart is flat... 4-hour chart is still bullish, and 1 hr is turning bearish. We'll probably see a...
Here's a quick look at DOGE Coin on a 4hr chart, which appears to be in a range. Although the daily chart is still bullish, momentum is fading but not by much if you're bullish. Here's what we see unfolding in a couple days or so, with next resistance at 0.48510 and support at 0.35459. Happy Trading folks! Cheers!
We're long USDCAD. On the chart, we've highlighted a break above the trendline on a high volume -- Our first target at R1, 1.2142. In terms of momentum: Daily - Bullish! 4 Hr - Bullish! 1 Hr - Bullish! ADX rising! Happy Trading folks! Cheers!
Here's a daily chart of BITCOIN. Currently, we are consolidating in wave 4 of the Elliot Wave. Typically in wave 4, you would see an ABCDE pattern with the break of the triangle to complete wave 5, which in this case would be at 27851.xx level. Also on the chart, you should see the monthly candlestick painted in the background. If you ever use a period separator...