EURGBP ____ BULLISH MOVE ANALYSISHello traders,
We can see that price has formed relatively equal lows and highs which is famously known as sell-side and buy-side liquidity. What price is likely to do is hunt both liquidity pools because there would be buy/sell orders, stop-losses etc.
The market is more often than not going to go after the buy/sell side liquidity, thereby stopping so many traders out.
Whenever you want to take a trade, and you see this kind of setting, it is best you wait for the sweeping of these liquidity pools before looking for a trade setup that way, you will not be stopped out only for price to go your way.
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Cheers,
David
Tradingstrategies
GBPJPY ____ INCOMING MASSIVE SHORTHello Traders,
This pair is on the verge of a dump... we have a strong supply zone (red box), and we just swept daily buy-side liquidity.
As you will also notice on my chart, on the lower timeframe such as 1 hour, you will see that price has created both buy-side and sell-side liquidity. As of now, the buy-side liquidity has been swept. This could mean that the dump may start... but be wary as more manipulations could still happen.
As you will see on my chart, there is massive sell-side liquidity to draw the price which is just above my TP.
I think we should keep tabs on this pair for a bearish move.
I will be posting the NZDJPY analysis also.
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Cheers,
David
23052023 - #USDJPYI said we could see another down move (based on equities Friday down) on break of daily BZ. Instead, the daily BZ is the lows; thus it is either no trade or go long. Market went up to near the highs.
PZ and BZ below are still acting as support; thus be long bias, and scalp longs with 139.25 as target for the day.
Also, look for longs with 138.09 and 137.45 as levels to go long if market give a pullback.
XAGUSD (SILVER) ____ INCOMING BEARISH MOVEHello Traders,
If you follow me already, you will know that I get my directional bias from the dollar index. In my previous post on the dollar (inserted below) I stated that I am bullish on the dollar which would mean I am bearish on XAGUSD.
As you may see on my chart, I expect the price to be bullish at the start of the week. This will make the price enter into both a daily and weekly FVG, which will lead to a more bearish move in XAGUSD.
You will also notice that we have buy-side liquidity just inside the FVGs - more reasons for the bearish move.
If you like this, check out my profile for more.
DXY
EURUSD
GBPUSD
Cheers,
David
GBPUSD ____ INCOMING BEARISH MOVEHello guys,
If you follow me already, you will know that I get my directional bias from the dollar index. In my previous post on the dollar (inserted below) I stated that I am bullish on the dollar which would mean I am bearish on GBPUSD.
As you may see on my chart, I expect the price to run into my POI after inducing early short selling as marked on the chart before the continuation of the bearish move from last week.
You will also notice that we have multiple sell-side liquidity just above my profit target zone which price loves to sweep.
If you like this, check out my profile for more.
DXY ANALYSIS
EURUSD ANALYSIS
Cheers,
David
EURUSD ____ INCOMING BEARISH MOVEHello guys,
If you follow me already, you will know that I get my directional bias from the dollar index. In my previous post on the dollar (inserted below) I stated that I am bullish on the dollar which would mean I am bearish on EURUSD.
As you may see on my chart, I expect the price to run into the daily FVG as marked on the chart before the continuation of the bearish move from last week.
You will also notice that we have buy-side liquidity just below the daily FVG which will draw price to it.
If you like this, check out my profile for more.
DXY ANALYSIS
Cheers,
David
EURGBP ____ INCOMING BULLISH EXPANSIONHello Traders,
EURGBP is in an interesting zone, which is a weekly FVG (yellow box), and has reacted. I expect price manipulation in the blue box which is my area of interest to look for a long setup.
Another thing I would like you guys to look at is the weekly equal lows (you can use the daily timeframe to see it clearly) that have been swept with this week's price movement and to price into the weekly FVG.
Let me know what you think in the comments.
Follow me if you are struggling with technical analysis.
Cheers,
David
US DOLLAR INDEX ____ BULLISH CONTINUATIONHello Traders,
We saw last week how the dollar index rallied heading toward a monthly supply zone (red box). However, we have a weekly supply zone (yellow box) just below the monthly supply zone.
I expect the dollar to run into the weekly zone but before that, it should take more orders from the daily demand zone (grey box) before the bullish expansion.
Let me know your view on the dollar in the comments.
I will be publishing more analyses so follow me not to miss out, especially if you are struggling to read price action.
Have a profitable week.
Cheers,
David
Key Levels and US Market Review for the Asian session open 22/05Major indexes in the US were weaker as Debt ceiling concern weighs on bulls. European markets ended the week in the green while Asian markets were mixed. Traders will be closely watching news for some sort of agreement on the US debt ceiling once Congress finishes playing politics. For now, I expect a tentative Asian market open and for major risk to remain on the sidelines.
Expecting tentative open on Asian markets with the ASX200 and Hang Seng expected to open flat while the Nikkei to open slightly lower.
Debt ceiling talks and coming economic data will remain the major focus as traders look to anticipate the end to interest rate rises. I expect that the debt ceiling will be raised once again as if they do not, volatility will spike hard and investors will drive Indexes lower.
Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.
Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper
CADCHF _____ INCOMING BULLISH EXPANSIONHello Traders,
As we all know, this pair dumped into a level it has never gotten to before and rallied. Now, this doesn't mean that it can't continue lower, but if you look at last week's candle, you will see the strong buying pressure which is depicted by the wick of the candle and I expected that at the start of this week, price is likely to trade into the wick before the rally to the upside.
Another reason why I expect the price to rally from my POI as marked on my chart is due to the equal highs (liquidity pool) that I have marked, which is usually attractive to price. Also if you look left, you'd notice that there is a trendline liquidity pool just below a daily FVG (see daily timeframe for clarity) which gives price more reasons to rally.
Let me know what you think of this idea if you also have CADCHF on your radar.
I would be posting more trade ideas. STAY TUNNED!!!
Cheers,
David
GBPCAD ____ INCOMING BULLISH RALLYHello Guys,
This week has been giving promising trade opportunities and GBPCAD could likely be one of them. In my previous analysis of the pair, I marked both the buy-side and sell-side liquidity pools. Today, the market went after the sell-side liquidity pool.
I'm hoping that the displacement in price allows the price to get to my demand POI and I will wait for a structural shift in price from bearish to bullish and take a long.
The reason why I would be confident in taking the long is that we still have buy-side liquidity to take.
If you like this analysis, give me a like or follow.
Cheers,
David
AUDCHF ____ BULLISH EXPANSION IMMINENTHi Traders,
I just placed a buy-limit order on AUDCHF. It formed a buy-side liquidity pool that needs to be swept. This is one pattern I have noticed in the market for a long time. In this case, I expect it to play out for a few reasons I will list out.
1. On the monthly timeframe, we dumped into a key level now a retracement in at play
2. On the weekly timeframe, we have a weekly Fair Value Gap (FVG) to fill as marked on my chart
3. On the daily timeframe, the price created equal highs as I have marked on my chart which is just below the weekly FVG
The above reasons drive me to speculate about this rally.
This is not financial advice... It is just the trade I placed.
If you have any comments about my analysis or forex in general, let me know.
Enjoy
David
GBPCAD ____ INCOMING BULLISH RALLYHello Guys,
This week has been giving promising trade opportunities and GBPCAD could likely be one of them. In my previous analysis of the pair, I marked both the buy-side and sell-side liquidity pools. Yesterday, the market went after the sell-side liquidity pool.
I'm hoping that the displacement in price allows the price to get to my demand POI and I will wait for a structural shift in price from bearish to bullish and take a long.
The reason why I would be confident in taking the long is that we still have buy-side liquidity to take.
If you like this analysis, give me a like or follow.
Cheers,
David
EURSGD ____ INCOMING BULLISH RALLYHi Guys,
I'm sure most of you are unfamiliar with this pair, however, this pair has some good price movement at play that could provide nice trading opportunities. We just had a bit of a sell-off for the past weeks as prices entered a strong weekly/monthly supply zone.
This sell-off brings the price to a key daily demand zone of which the price is meant to cool off bearish steam.
Looking at my chart, you will notice that price is currently sweeping sell-side liquidity and by the time this sweep has been satisfied, the bullish rally will begin.
I expect the price to get into my POI (blue box) before I start looking for CHOCH from bearish to bullish.
If you like this analysis, be sure to give me a like.
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Cheers,
David
EURCAD ____ INCOMING BULLISH RALLYHello Traders,
I am here again to update you on my view of EURCAD.
This pair is currently trading inside a weekly demand zone (yellow box). Not only that it created relatively equal lows (sell-side liquidity as marked on my chart) on both the daily timeframe and 1-hour timeframe which it has swept. It has also cleared the low of last month's candle close.
Now we have to watch and wait for the exhaustion of the price before we start looking to buy.
I can't say how deep the price will go into the weekly demand zone but I sure expect the BULLS to step in soon.
Kindly give me a like and follow for more content like this.
Cheers,
David
GBPSGD ____ INCOMING BEARISH DUMPHello Traders,
This pair which is a new addition to my watchlist is looking interesting. Let me tell you why...
Firstly, the price just took out Dec 2022 high and reacted. You would see my label on my chart. Now price made a bearish expansion but not before taking out the relative equal highs as marked on my chart.
Now that price had taken buy-side liquidity, it is going to look for sell-side liquidity to take out.
I have marked out sell-side liquidity for the price to go hunt.
However, I advise you guys to watch out for the structural shift from bullish to bearish and lookout for manipulations before taking a trade.
Let me know what you think about this in the comment.
Don't forget to give me a like and follow.
Cheers,
David
EURCAD ____ INCOMING BULLISH RALLYHello Traders,
I am here again to update you on my view of EURCAD. I have also done my best to mark the chart so you can train your eyes to see certain things in the market.
This pair is currently trading inside a weekly demand zone. Not only that it created relatively equal lows (sell-side liquidity as marked on my chart) on both the daily timeframe and 1-hour timeframe.
My expectation was for it to sweep the sell-side liquidity as speculated in my previous analysis of this pair (I will insert it for reference). It has occurred as speculated.
Now we have to watch and wait for the exhaustion of the price before we start looking to buy.
I can't say how deep the price will go into the weekly demand zone but I sure expect the BULLS to step in soon.
Kindly give me a like and follow for more content like this.
See previous analysis on EURCAD
Cheers,
David