currencynerd

currencynerd

Momentum setup ; from prev. idea i posted a possible continuation pattern on EURGBP , now price has reached my levels of interest and my long orders have been filled @ 0.83394 , which is the proximal price for hourly demand valley and extra confluence is price is also reacting to bottom trendline of bullish channel. with a risk , reward of 1:4 i have targets at...

currencynerd

intraday outlook ; price is trading in an ascending parallel pattern , having recently broken 4hr bearish trendline indicating that current market momentum is bullish . The hourly chart is showing me a potential long setup , i am first looking for price to give me a touch/retest on the bottom trendline of the channel where potential catalyst for the upside move...

currencynerd

price is trading in a bearish parallel channel but i a anticipate a break above the channel as daily imbalance is in control, currently price is reacting off of liquidity pool ranging from 0.93163 to 0.93108 , i have longs at 0.93108 with stops 12 pips from entry price @ 0.92984 and targets 54 pips @ 0.93644 just a few pips below monthly level @ 0.9368. This is a...

currencynerd Updated 

price is trading in ascending parallel channel with price having retested top of channel as resistance which drove price a few pips down but i see this as a false move to trap sellers as there is a bearish trendline on top which i am waiting for price to retest which may well be the necessary catalyst to add bearish momentum to the forex pair. I have sell limit...

currencynerd Updated 

this is a possible intraday setup of risk , reward of 1:3 , with no expected high impact news most of the bias was derived from technical perspective. price on the hourly chart is trading in an bearish parallel channel having broken bullish trendline forming full OHCL candlesticks below indicating a shift of current momentum from bullish to bearish making this a...

currencynerd

trading is not gambling and gambling is not trading , but like expert gamblers the best traders must think of trading as a numbers game and probability to produce consistent results. Probability may suggest inconsistency but it can still produce consistent results over a large sample of trades if the edge is good enough and is applied consistently. there is no...

currencynerd

price is trading in an ascending bullish parallel channel but failed as of current to reach the intraday high @ 119.397. inside the channel price broke out of bullish trendline forming multiple OCHL candlesticks below it , price went to retest the supply zone which is the origin of the trendline break move indicating a change in momentum from bullish to...

currencynerd

gold prices have been in a rally to the upside for a long time with the Russia - Ukraine invasion being a major catalyst for this bull run. Even with the bullish surge price failed to reach the ATH @ 2074.98 , reversing a few pips below the high and price has been in a steady decline ever since to 2011 prev. high @ 1920.80. Price even went as low as forming...

currencynerd

since the Ukraine - Russia war/invasion crypto activity has accelerated even top national administrations are looking into it , as it has proven to be safe storage of value and is getting accepted by people from all ends of the world. on my chart price is in a consolidation phase of average high @ 64892.42 and average low @ 64892.42. monthly demand is in control...

currencynerd

price broke out of bearish parallel channel forming several OHLC candlesticks above the channel , indicating a shift of momentum from bearish to bullish. currently on the hourly chart , price is making its way to the 1hr supply zone around @ 153.954 price areas where a few pips above is 61.8% retracement @ 153.031 which may be the driving force to pull price to...

currencynerd

price is trading in a descending bearish channel with 4hr supply peak @ 1.30485 in control and indicating presence rising bearish momentum to areas around the monthly demand valley @ 1.29457 , where i have pending limit buy positions with possible targets at daily supply peak @ 1.33096 giving a risk reward of 1:5. “Celebrate all small victories in life, the task...

currencynerd

this is not a trade signal , but a possible setup. always wait for price to reach levels of interest and keep a close eye on price action and candlestick formation as well as watching out for other factors of positive confluence. INTRADAY SETUP: price has been in an intraday downtrend since Thursday during the opening of the NEW-YORK trading session. price...

currencynerd

The labor department is expected to show that the us economy has created 407K+ jobs in FEBRUARY and that unemployment rate has fell to 3.9% from 4.0% of the prev month. With such gains recorded its safe to say the us economy might see a slight relieve , on nas100 price is currently reacting to daily demand of proximal price @ 12914.80 and price trading above...

currencynerd

Gold prices have been making a steady run to the upside trading in a bullish ascending parallel channel. On the 24 Feb. 2022 we saw price push higher into the monthly supply peak of proximal price @ 1967.50 , which was an area of strong bearish momentum as it caused what was once a strong bullish candlestick to close with a small bearish body leaving a tall wick...

currencynerd

Price has been trading between 85.481 and 91.304 identified on the MN chart. Monthly supply CP @ 92.299 is in control. On the weekly chart supply peak of proximal price @ 91.741 is in control , and price created a fresh supply peak @ 90.319 which price is reacting to but trading above it but has not violated its distal price making it still valid. I have short...

currencynerd

On Monday price opened the market with a gap to the downside and shortly after price started to retrace and fill the gap which took most of yesterday trading day. Price is trading around the monthly level @ 0.66751 where in higher timeframes price is showing clear rejections to the upside failing to close above. Intraday demand is currently in control of price , I...

currencynerd

Since 20 Jul '21 , price has been trading in a bearish channel and inside is a similar bullish channel that i am looking for price to break. currently price is reacting to the top of the bearish trendline where there is a yearly imbalance @ 0.92286 which was identified on the MN chart , price failed to fill the imbalance as demand and is now acting as supply. I...

currencynerd

Price on the daily is trading trading and respecting bearish trendline and is also coming from a monthly level @ 0.71089 which caused the push to the upside which is still ongoing as price is creating higher highs and lows. I am looking to short the aussie dollar at the top of liquidity pool @ price 0.72943 where i will also be looking for extra confirmation for...