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USDCAD BUY | Day Trading AnalysisHello Traders, here is the full analysis. The completed correction, recovery and formation of a pre-breakout set-up hint at the continuation of growth. GOOD LUCK! Great BUY opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
Learn What is FOREX Market. Trading Volumes & Market Participant Forex - foreign exchange market, is a location where international currencies are bought and sold by economic participants at various exchange rates. Forex market is the biggest market in the world, reaching on average 6 trillion dollars trading volumes daily. Forex market is a vital element for a global economy because it provides capital exchanges between the countries. The main market participants of forex market are central banks, commercial banks, commercial companies, hedge funds and investors. 🕰In order to grasp how big is that market, take a look what is happening on that just in 60 seconds: 📎Total transactions value reaches 3.52 billion US dollars. 📎 1.15 billion dollars of spot transactions. 📎 1.65 billion dollar of exchange swaps. 📎 Total transactions value involving USD reaches 3 billion US dollars. 📎 Total transactions value involving EURO reaches 1.1 billion US dollars. 📎 Just one single EUR/USD pair accumulates 812 million US dollars transactions value. It is hard to imagine how such big amounts are rolling with such a frequency and how insignificant are the orders of individual traders.
OANDA:XAUUSDEducation
by VasilyTrader
1
#USDCHF → Movement in the descending channelIn time h2, it is moving in a downward channel, which is located in the support zone, which, if confirmed, can continue to correct until the golden zone of the previous wave after retesting the ceiling of the channel. ----------------- Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.
by alikze
EURUSD - IN ANTICIPATION OF A POSITIVE PCE REPORT (TARGET 1.081)The upcoming release of the Core PCE Price Index, a key inflation metric closely monitored by the Fed, is scheduled for 13:30 GMT. Despite not anticipating major surprises due to its inclusion in the recent GDP report, investors will closely examine this data along with December's Personal Spending and Personal Income figures for deeper economic insights. While positive outcomes in spending and income could bolster the USD, disappointing results might signal weakening consumption, potentially impacting the USD's immediate performance. The previous retail sales data was extremely bullish. Retail Sales and Personal Consumption Expenditures (PCE) often show a positive correlation, both reflecting consumer spending trends. While Retail Sales focus on goods, PCE covers a broader range including services. Both indicators are influenced by similar economic factors like employment rates and consumer confidence, making them crucial for understanding economic health. However, their scope differs, with PCE providing a more comprehensive view of total consumer spending. Traders should monitor these metrics for insights into consumer behaviour and overall economic conditions. Based on these macro assumptions I'll explore the bullish outcome for the dollar: What is on the chart? (Follow the steps) 1) We have our first accumulation structure which was followed by a breakout and also a market structure shift. This accumulation was fuelled by a 4H FVG. 2) When paired with the Ichimoku Kinko Hyo indicator you'll notice more downside confirmations such as a break of both the daily Kijun and Tenkan, a Tenkan/Kijun crossover and a Kumo twist. Thirdly the weekly Tenkan was broken and retested. These are all major signals. 3) We're currently still range bound with the daily 0.786 level as support that was perfectly respected. This level is strengthened by the daily Kumo. 4) I am relying on the 4 Hour order block as the final resistance before the potential positive PCE data release which would be final blow. Price should continue its downfall towards sellside liquidity. Here are some extra charts to strengthen the bias: As usual, happy trading and have great day!! :)
Short
by Lexi_Is_Trading
2
GBP USD buy trade activatedAs you can see in my chart - this is a simple trade using wyckoff schematics. 1H is my main TF of analysis (intra day trade) after that I go to 45-30-15 min and look for shift in market structure. I found out accumulation in this 15minTF and then I wait for IC creation + validity/ proof. I set my pending order with an RR of 1:8 Using distribution schematics in higher TF. Please check the chart for more information :) Pending order activated and it took half day to reach the target.
Long
by glyrad
AUDUSD Buy opportunity 0.670574H Level explanation AUDUSD has been trading in a bearish trend for the last days. Now, the price displays a bullish Engulfing pattern. Possible scenario The best way to use this opportunity is to place a Buy order at 0.67057 Set your Stop Loss at 0.66157 and Take Profit at 0.67684 and 0.68365 Note : Already rebound with support level. who enter this trade keep eye on it. if broke the support level close your trade immediately. The upcoming news will not influence your orders within the mentioned period.
Long
by chamitha45
The Forex Market: A World of OpportunitiesForex trading, also known as foreign exchange trading, buys and sells currencies to make a profit. It is the largest and most liquid financial market globally, with trillions of dollars traded daily. The forex market operates 24 hours a day, five days a week, allowing traders worldwide to participate. The Importance of Patience 🕰️ Patience is a fundamental quality that every successful forex trader possesses. It is the ability to wait for the right opportunities and not rush into impulsive decisions. In the fast-paced world of forex trading, jumping into trades without proper analysis and exiting prematurely can be tempting due to fear or greed. However, patience lets us stay calm, focused, and disciplined, leading to better trading outcomes. Building a Strong Foundation 🏗️ Before diving into the exciting world of forex trading, building a solid knowledge foundation is essential. Understanding the basics will empower you to make informed decisions and navigate the market confidently. Here are a few key concepts to get you started: Currency Pairs: Forex trading involves the simultaneous buying of one currency and selling of another. Currency pairs are quoted with each other, such as EUR/USD or GBP/JPY. The EUR stands for European Euro. The USD stands for the United States Dollar. The Euro is also called the base currency because it's the currency being bought with the United States Dollar. So, for every Euro being bought, the United States must exchange the equivalent amount in their currency, hence, the exchange rate. Search EURUSD in your trading view chart. The price scale to the left shows you the exchange rate or price it currently costs to buy 1 EURO in the United States Dollar. Pips: A pip is the smallest unit of measurement in forex trading, representing the fourth decimal place in most currency pairs. It is used to measure price movements. To go deeper, every hundred pips equals 1 cent or 1 penny. So when you think about it, if you gain 50 pips on average, you're gaining half a cent. If this was a Yen (JPY) pair, every 100 pips equals one Yen. So, on average, if you gain 50 pips, you're gaining half a Yen. Little things like this matter when trading because on a price chart, things can seem so big, when in reality, the movement of currency on a price chart is small, which can result in huge profits for you trading the trend. Leverage: Leverage allows traders to control larger positions with less capital. While it can amplify profits, it also increases the risk of losses. Leverage is borrowed money the broker gives you to trade with. It can increase your position size significantly. But be careful; too much leverage can make you overtrade, while insufficient money can make you resent trading if you can't trade the size you desire. You can also think of leverage as space or how much room you can let the trade move against you before taking a profit. If your trade doesn't have enough room to move and you use most of your money in one position, the broker will do a margin call. That means your trade has no room to move, and you are out of money to trade with, so they will automatically close your trade. On the flip side, if the position is too big before you place a trade, the broker will not allow you to enter a trade until you decrease your position size. It's like living. While we must live within our means until we get more money to increase the quality of our lives, we must trade within the means of our account balance. Market Orders and Limit Orders: Market orders are executed immediately at the current market price, while limit orders are placed to buy or sell at a specific price level. A market order is an order you execute yourself. For example, if I wanted to enter a trade right now, I'd push the buy or sell button, place my stop loss and take profit, and hit the buy or sell button again in the direction I desire the price to move in. If I was pressed for time, I could do the same thing, but I'd place a pending order at the price I want the broker to trigger my trade-in, so if I'm not there and the price reaches that price, the broker will do the job for me. The Journey Ahead 🚀 As we embark on this journey together, remember that forex trading is a skill that takes time and practice to master. Patience will be your guiding light, helping you make rational decisions and avoid unnecessary risks. The next time we speak we will explore the importance of identifying key supply and demand zones to make informed trading decisions. Stay tuned, and get ready to level up your trading game! 💪 Your Forex Coach, Shaquan
Education
by ShaquanLopez
1
💹 EURUSD next week prevision 💹It could go down to points of 1.08773. If it brakes this floor it could go to areas of 1.08102. If it fails to brake the minimum of 1.08773, it could enter an uptrend to look for movement 3 of the Elliot wave until 1.10016 minimum (100% fibo point of the previous inverse wave), being able to continue rising until the point 1.1039. (127% fibo point), to continue with a retracement of the elliot wave movement 4 to the point 1.09087 (23.6% fibo point) and then go looking for the movement 5. If it goes down enough to break the point from C, we would have new B (1) and new C (2). You have to wait for confirmations by looking at corresponding indicators.
by Jordi_MM1