GBPJPY: Analysis Confluence: - Price is overall in a strong uptrend and currently in a bearish correction. - Price made a double bottom - Strong influx of bulls
US30: Buy Bias Confluence: - Price has broken downtrend - Made an impulsive move and now awaiting a pullback - Retest a strong level of demand and the 50% retracement
Price showed signs of the bulls domination and we then saw the impulsive move to the upside. After this we can now expect a deeper retracement back down to retest some levels of support in the market. From this we can then see a continuation to key levels of supply in the market.
It's looking like price is forming a complex H&S pattern at the psychological level of 153.000. What makes it look complex is the amount of market structure inside the neckline and shoulders.
Price has formed a double bottom on the retest of the trendline
EURAUD: Neutral Bias Price can go either ways. This is still backing the buy bias and would need to see a clean break above the resistance. Confluence: - Elliot Wave theory (1,2,3,4,5) - Broken downtrend - Rejected the key support of 1.53
Price is currently in a descending channel and we are waiting on more confirmation before buy position!
CADJPY: Sell Bias Confluence: - Bearish impulsive move to the downside - Broke bearish market structure - Strong bearish engulfing candle
NZDCHF - Buy Position 📈 Current floating trade. Now all we have to do is manage the trade. Once price smashes through the trendline we can then move SL to below structure which is where i've marked with the "X". We will keep on doing this until it hits TP or Stop loss. This process is called stop trailing. If you wold like to know more and the hidden secrets...
AUDCAD: Buy bias Confluence: - Inverted Head & Shoulders pattern - Triple bottom giving us the H&S pattern - Break of structure and now looking for retest.
Confluence: - Bearish Market Structure - Very strong trend to the downside - 1Hr has broken corrective structure
Confluence: - Overall Trend is bullish - Rejecting the 61.8% fib retracement - There will be lots of people entering sells as they would believe we are now bearish
After breaking out of the range to the downside we want to capitalise on this move.
Confluence: - Bearish market structure on daily chart - Broken out of the rising wedge - Broken out of level of Support. - Elliot Wave (1,2,3,4,5)
After area of liquidity was formed it was only right to be apart of the institutions and banks.
GBPCAD: Short term Buy Bias and Long term Sell Bias Confluence: - We know that price needs to come and retest the psychological level of 1.76 within the market. This level also lines up with the 61.8% fib retracement. Therefore, we can look for day trades back up to this level. - Currently in a 1hr micro downside which ones broken we can then consider the short...
Confluence: - Daily chart is still heavily uptrending. So buys are still valid and when we sell we will need to see a massive shift in structure. - Inverse H&S on 15mins - Impulsed away from support area - Broken micro downtrend
AUDJPY: Sell Bias Confluence: - Market structure has shifted from bullish to bearish MS since we now have a new LL in the market - The curved trendline has been broken - We had an impulsive move to the downside - Daily has a evening star