A brief comparison between 2008 Financial crisis & Corona Virus market melt down.
EURUSD EURO is now about to enter in a bear area soon. This is an area which has been defended by bears since 2008 & price is about to test this dynamic level for the 5th time. Overall EURUSD Daily dominant trend is bearish and ideally we want to find Sell Setups from value/key areas. Factors of confluence will be posted once we have prices testing the...
WTI broke and closed above the daily trend line & will probably be cursing till $55.00
GBPUSD DAILY : Cable buyers got some confidence as price re-connected above the 1.3000 important level. Prices must stay atop the 1.3000 support area in order to activate a swing upside.
USDCAD!!!!! May be a good find on Monday. Normally Monday's dont treat well like this but this one seems a surprise and a gift, X-MAS is close , so we expect that :). So Let's talk about what we got here. Pretty simple and self explanatory. Most of the time what is simple works the most, and we as traders always trying to go after complications and trying to...
EURUSD: Multiple inside bar fake out pattern had formed last night after the market retraced to the 50% level of the recent swing lower + the Setup formed was just under the 1.1105 near-term resistance level. Overall trend is bearish and price has clued up to resume its trend and test the recent lows at 1.0924 as the fake out bar (Pin bar) has strongly...
GOLD : INSIDE BAR FAKE OUT SETUP Now , GOLD is in a short-term bearish trend whilst prices remain contained under the $1525 near-term resistance level. However, our longer-term bias will be bullish as long as price is supported above the $1400 key long term support level. As prices plunged down from the recent bearish pin bar few days ago just under the $1525...
US OIL DAILY : Worth considering the inside pin bar combo Setup formed after prices moved back to the value Value refers to the 8 Day EMA layer). Now , if we look at the chart , we can see a clear dominant daily short-term uptrend with a nice UP momentum & within this short-term uptrend we get this nice inside pin bar combo Setup from the value area (Dynamic...
US OIL! Price testing the key major resistance Now , WTI market is trading right at the Seller's hot point & we are ready to join the rally downside. Attached is the WTI daily chart & we can clearly see prices are trading just below the $57.50 key major resistance level & this very level aligns well with the 50% retrace level of the daily swing lower & to put...
US OIL! Price is now approaching the weekly exp and testing the 50% daily retrace level of the recent swing lower! Now , having a Sell Setup from these levels will go in-line with the overall market context. We will be on a lookout for a price action Sell Setups from current prices and from a bit more strength. A confirm break and close above the daily 50%...
USDYEN!!!! Price has seen strong buying pressure from the 104.60 key long term support level and a confirm break and close above the 106.80 has put bulls in control of the USDYEN market. We can see a long term range in this pair with prices respecting the key horizontal levels well. We now will drill down to the weekly chart to see if we can find some confluence...
GBPUSD!! Price has seen strong buying pressure from the 1.1990 key long term support and did build a strong base at this very support level, but yet not been able to give bulls full control of the GBPUSD market. However, we can see a short term uptrend in place. Bears are protecting their territory on two levels, first: 1.3160 & then no bear defence line is seen...
EURUSD!! Bears are ruling the EURUSD market since 2017 & for the first time since then, we have seen price breaking and trading above the monthly trend-line which in the past has been as a strong resistance. While we have bulls taking in charge early this month of the EURUSD pair, we are keen to find good entry points on lower time frames & also we would like...
USDJPY Price broke and closed above the 108.50 near-term resistance level(which is now acting as near-term support) and has formed a nice tailed bar rejecting the near-term support level & closed above the 150 exp. Also the tailed bar is rejecting the 23% fib level of the daily swing higher!!! Factors of confluence supporting the Buy idea are given below : ...
USDYEN TRADE STILL ACTIVE!!!! We are still holding the USDYEN trade we posted last week & recent development is price consolidating just above the 108.50 near-term support level. Prices must clear the 108.90 resistance in order to activate another leg higher. Traders make money by sitting , and not by trading (over-trading) & sitting is good when we have...
EURYEN : TRADE STILL ACTIVE Price is supported by buyers @ the 23% daily fib level. Here again we are sitting and letting the market do its thing as we do have absolute stop placement in this trade , which means if the stop is taken the whole idea of selling will be nullified. So far , the context looks good and prices being supported @ the 23% daily fib...
USDJPY So far , price is holding firm at the 108.50 support level , although 108.50 is a near-term support and is not a very important long-term key level but we do have some confluence behind this trade as the tailed bar formed was from the 108.50 near-term support level with price rejecting the lower prices and also rejecting the 150exp on the daily and...
GOLD : TRADE IS ACTIVE We now need to see the confirm break and close under the Mother bar's low ($1473) & this will give us some confirmation of the Sell Setup being triggered OR else , we eventually may get the fake out of the complete inside bar setup. But we dont mind the fake out, if it tests our take profit area and lets us out with our TP. Very...