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Priceactionstrategy

GBPJPY: Your Trading Plan For This Week 🇬🇧🇯🇵 GBPJPY reached a solid horizontal structure resistance last week. The pair started to consolidate within a narrow trading range then. To short wisely, I suggest waiting for a bearish breakout of its horizontal support. You need an hourly candle close below 163.58 - 163.67 area to confirm the breakout. Then, a bearish continuation will be expected at least to 162.1 level. Alternatively, if the price breaks the resistance of the range to the upside, a bullish continuation will be expected. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
EURJPY: Potential Bullish Continuation Explained 🇪🇺🇯🇵 EURJPY is accumulating around 143.85 - 144.25 horizontal resistance. The price has already set 3 equal highs respecting that. Taking into consideration that the pair is trading in a strong bullish trend, I believe that we will see a breakout attempt soon. Wait for a breakout of the underlined yellow zone, daily candle close above that will confirm a breakout. A bullish continuation to 147.0 level will be expected then. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
EURNZD: Potential Long Trade Explained 🇪🇺🇳🇿 EURNZD is trading in a strong bullish trend from the beginning of April. Higher lows are perfectly respecting a rising trend line on a daily. After setting a new high, the price retraced to a trend line again. Pay close attention to a horizontal trading range on 4H. Wait for a bullish breakout of its 1.6635 - 1.6685 resistance to catch a bullish movement. You need a 4H candle close above to confirm a breakout. Target will be 1.6817. If the price breaks a trend line to the downside, the setup will be invalid and a bearish continuation will be expected. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
12
GBPJPY: Your Detailed Trading Plan For Today 🇬🇧🇯🇵 One more instrument that we covered on a today's live stream is GBPJPY. The market nicely retraced to a solid horizontal support. On that, the price formed a double bottom formation. Watch 162.655 - 162.919 horizontal neckline to buy with a confirmation. You need an hourly candle close above that to confirm a breakout. Then a bullish continuation will be expected to 164.16 / 165.053 levels. If the price sets a new low, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
17
NZDJPY: Potential Trend-Following Trade Explained 🇳🇿🇯🇵 Hey traders, NZDJPY is accumulating on a key level. The market is coiling within a narrow range on 1H time frame. Taking into consideration that the pair is trading in a long-term bullish trend, I will be waiting for a bullish breakout of the resistance of the range as a confirmation to buy. Wait for an hourly candle close above 85.6 - 85.68 area, then buy aggressively or on a retest. Goals will be 86.0 / 86.3 If the price breaks a support of the range, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3
PRICE ACTION TRADING | THREE TYPES OF TRIANGLES YOU MUST KNOW 📐 Hey traders, In this post, we will discuss 3 simple and profitable types of a triangle pattern. 1️⃣The first type of triangle is called a descending triangle. It is a reversal price action pattern that quite accurately indicates the exhaustion of a bullish trend. Setting a new higher high the market retraces and sets a higher low, then bulls start pushing again but are not able to retest a current high and instead the price sets a lower high and drops to the level of the last higher low setting an equal low. The price keeps trading in such a manner setting lower highs and equal lows till the price sets a new lower low. Most of the time it gives a very accurate signal of a coming bearish move. Please, note that a triangle formation by itself does not give an accurate short signal. The trigger that you should wait for is a formation of a new lower low. 2️⃣The second type of triangle is called a symmetrical triangle. It is a classic indecision pattern. It can be formed in a bullish, bearish trend, or sideways market. The price action starts contracting within a narrowing range setting lower highs and higher lows. Based on them, two trend lines can be drawn. Breakout of one of the trend lines with a quite high probability indicates a future direction of the market. 3️⃣The third type of triangle is called an ascending triangle. It is a reversal price action pattern that quite accurately indicates the exhaustion of a bearish trend. Setting a new lower low the market retraces and sets a lower high, then bears start pushing again but are not able to retest a current low and instead the price sets a higher low and bounces to the level of the last lower high setting an equal high. The price keeps trading in such a manner setting higher lows and equal highs till the price sets a new higher high. Most of the time it gives a very accurate signal of a coming bullish move. 📍Please, note that a triangle formation by itself does not give an accurate long signal. The trigger that you should wait for is a formation of a new higher high. Learn to recognize such triangles and you will see how accurate they are. Let me know what pattern do you want to learn in the next post? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
4