DAX (GER30) about to follow US!Hey tradomaniacs,
DAX (Ger30) looks pretty bearish to me and could fall very soon in order to follow the US-Indices.
So far price has been more stable, but orderflow aswell as technicals do look bearish to me and we should see a drop very soon.
What do you think?
Swingsetup
NZDUSD: Important Structure to Watch Next Week 🇳🇿🇺🇸
Hey traders,
NZDUSD is trading in a strong bearish trend.
The market is falling for 6 consecutive weeks.
Ahead is a very important zone of confluence:
we see a perfect match between a horizontal weekly demand cluster
and a falling trend line of an expanding wedge pattern.
I believe that soon we will see a pullback.
Pay close attention to the underlined area and wait for a confirmation to buy.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
NZD/USD likely to FALL!Hey tradomaniacs,
NZD/USD is likely to fall duie to the risk-off in equities and the strong US-Dollar.
Technically we`ve seen a fake-move to the upside and now a break to the downside.
The recent re-test could give us a nice opportunity to sell the next rally.
Let`s see =)
EUR/AUD with a strong Pullback!Hey tradomaniacs,
EUR/AUD has re-tested a key-support-zone and is likely to move up along with the US-Dollar after Jerome Powells statement from yesterday.
If indicies turn around and retrace the rally we might see a rising EUR/AUD as risk-off is likely to continue.
Techincally a gfood spot to go long as soon as confirmed.
What do you think?
GBP/USD likely to fall!Hey tradomaniacs,
GBP/USD just re-tested a key-resistance after the breakout of the secondary trendline (correction) and is likely to fall due to flipping in the orderbook.
Be cautious as its bank holidays - use wider Stop-Losses or trade tomorrow!
Interest-rate-decision this week could obviously change everything!
What do you think?
USDJPY: Technical Outlook & Things to Watch 🇺🇸🇯🇵
Hey traders,
Being within a wide 8-years trading range,
this week USDJPY broke its resistance to the upside.
It looks like the next long-term goal for buyers will be 135.0 20-years high.
Next week consider the retest of a broken structure to catch a trend-following move
or patiently wait for a test of the underlined resistance to catch a pullback.
Have a great and wonderful weekend!.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
SPX500 with potential Peek-Sell!Hey tradomaniacs,
SPX500 has tested the current upper trendline and could continue its way down as recent attempt to break has got rejected with a fakeout.
As always I`m very cautious here due to the current volatility and uncertainy of the market.
Generally we can assume that rising rates are putting stocks under pressure which is why I`m currently staying on the bearish side.
A breakout could of course cause another correction to the upside, but as long as this level holds we have a potential peek-sell here in case of another rally sell-off.
What do you think?
DOLLAR INDEX (DXY) Key Structure Ahead 💵
Important supply area is ahead on dollar index.
A highly probable correctional movement is coming.
Be ready!.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GBPAUD: Classic Bullish Reversal 🇬🇧🇦🇺
Hey traders,
It looks like we have a classic bullish reversal on GBPAUD pair:
the price formed an inverted head and shoulders pattern on a daily time frame
and then broke and closed above its neckline.
Now I expect a bullish move to
1.773 - 1.778 supply cluster (first goal for buyers)
1.802 - 1.808 supply cluster (second goal for buyers)
❤️Please, support this idea with like and comment!❤️
NZDCAD: Potential Swing Trade Explained 🇳🇿🇨🇦
Hey traders,
NZDCAD is trading in a long-term bearish trend.
Lower highs are perfectly respecting a major falling trend line on a weekly.
After the last strong bearish wave, the price reached that again.
On that, we see a descending triangle formation on a daily time frame.
To catch a bearish swing wait for a daily candle close below its support to confirm a breakout.
Then shorting on a retest we will expect a bearish move to 0.853 / 0.843 levels.
If the price respects a yellow support and breaks a trend line to the upside, the setup will be invalid.
❤️Please, support this idea with like and comment!❤️
AUDNZD: Bearish Wave is Coming 🇦🇺🇳🇿
Even though AUDNZD remains very bullish since the end of the last year,
the market is approaching a major falling trend line on a monthly time frame at the moment.
Taking into consideration how the market reacted to that trend line in the past,
chances will be high to see a bearish move from that.
To sell with a confirmation, on focus is a rising wedge pattern on a daily time frame.
Daily candle close below its support will trigger a bearish move at least to 1.077
If the price breaks the trend line to the upside though,
a bullish movement will be expected.
❤️Please, support this idea with like and comment!❤️
XAGUSD: SILVERHey Fam!
Check this dual trade idea...
What do you think... Insightful?
Hit me up if you want to know my thought process.
Cheers!
$BLNK - Reclaimed Support, Caught at DemandFairly beat down ticker, miraculously reclaimed the demand zone before going for the retest.
Can trade the bounce given that it occurs, otherwise this ticker is a prime short candidate.
$COIN - Sitting on Demand, Look Out Below$COIN shares a structure similar to many charts I posted earlier, with the key difference being that there are NO supports below.
A bounce here is highly probable, though if we lose the demand zone we'll likely make a trip down to 150 before moving lower.
Traders Beware.
$ELY - Bull Flagging into DemandTo all my friends watching the masters, this company shouldn't be a stranger to you.
Although $ELY is currently in a pretty gnarly downtrend, we're approaching a strong demand zone established back before the Covid crash.
This ticker looks ripe for a reversal, and I'll be eyeing this 20-21.5 zone to load some commons / leaps.
$AMD - Demand Zone Inflection Point$AMD is at an interesting inflection point right at a demand zone.
I'm expecting us to bounce from here and test 107, before moving up towards the gap at 116. A break below leads us down to 96, and then 87.50.
Regardless of the recent downgrade, this trade favors the upside.
$RBLX - Consolidation atop SupportAfter breaking it's downtrend upon creating new ATLs, $RBLX has bounced aggressively and began to consolidate between two key price levels. ($43 - $53)
We are now currently resting on top of our $43 support level. A bounce from here would allow us to trade this name up to $53 and capture a 25% move, while a break and close below 43 sets us up for a nice short down to 36.
USDCHF Long term trendGiven the clear 3 level drop on the monthly chart and the level 3 consolidation visible on the monthly chart, this pair is rising on a long term perspective.
As such, I have noted areas of interest for entries and profit taking.
Following the structure, entering quarterly peak lows and holding (quarterly swings) while maximizing on the weekly cycle in relation to the long term cycle will result in exponential profit potential. Execute trades in line with this cycle as best as possible
EURCHF: Important Breakout & Bearish Forecast 🇪🇺🇨🇭
EURCHF is trading in a long-term bearish trend.
After a retracement from a new structure low the price formed a big head and shoulders pattern on a daily.
This night bears managed to break its neckline.
I believe it will trigger a strong selling reaction.
Initial target - 1.0035
❤️Please, support this idea with like and comment!❤️
USDCAD SHORTThis pair has always been tricky for me but anyways, here you have it.
the position of the pair and the closing of last week's candle suggest bullish but the monthly has enough bearish momentum to send this pair downwards.
Cheers!
MarketBreakdown | Dollar Index, USDJPY, USDCAD, AUDUSD
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ Dollar Index (DXY) - Daily time frame 💵
The index is trading in a strong bullish trend.
Since the beginning of March, the market started to consolidate within a horizontal trading range.
Its bullish breakout will trigger the next strong bullish wave
while its bearish violation will lead to an initiation of a correctional movement.
Also, while the market is consolidating, consider range trading selling from resistance and buying from support.
2️⃣ USDJPY - Monthly time frame 🇺🇸🇯🇵
The pair is approaching 6 years' high.
Chances will be high that the price will start a correctional movement from that structure.
Wait for confirmation to short.
3️⃣ USDCAD - Weekly time frame 🇺🇸🇨🇦
The market broke and closed below a major rising trend line on a weekly.
It is a very strong bearish clue and now the pair can drop lower.
Bias is very bearish and I am looking for shorting opportunities on a retest of a broken trend line.
4️⃣ AUDUSD - Weekly time frame 🇦🇺 🇺🇸
The pair is approaching a strong weekly structure resistance.
I am expecting a pullback from that structure.
Wait for confirmation on lower time frames to short.
❤️Please, support this idea with a like and comment!❤️
GOLD - Bullish Trend About To ResumeAfter reaching near all-time high at $2070, gold has felt about $120 in just a couple of days. It is a fast downward correction which has shaked out many weak hands. However the daily trend remains bullish overall.
Gold is currently back to the trend line where it started its bull-run from $1780. Unless this trend line is broken, it should provide strong support for gold.
Note that after making the first high at $1975, gold retraced roughly 61.8% back to the trend line before resuming its uptrend.
After making the second high at $2070, gold now has retraced 61.8% to 1950 and back to the trend line again.
The downward correction looks like a falling wedge pattern which usually leads to quite a bullish reversal when price gets really compressed to the end of the wedge.
Our strategy:
Buy-area should be around $1940-$1950 with stop loss under $1920
First target $2000. Second target $2050-$2075.
