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Usdshort

USD Index (DXY):Multi TF shows destination 92 routed via 98.80 The multi-timeframe analysis for DXY shows the short term bounce towards 98.80 before heading lower towards 92. Following is the step by step break down of the analysis from higher to lower TF's: MONTHLY: (1) Bearish due to bounce from the long term down trendline acting as resistance. (2) The bearish divergence comes in play between the leg 3 & leg 5 of the impulsive push-up. (3) Followed by a lower low breaking through the structural horizontal support. (4) Bounced higher towards the falling trend line and gets rejected, thus forming a hidden bearish divergence to continue lower. The above-mentioned facts make the probability of pushing it towards the confluence of support zone from 92.85 - 91.33 The confluence of support is derived from the multi-year rising trendline + Horizontal support & resistance structure + Fibo Extn. 61.8 at 92.11 WEEKLY + DAILY: Are under upward correction 8 HOURLY: Bounced up from the channel support after reaching 100% Fibo Extn. around 95.80 1 HOURLY: (1) The first push-up is completed along with bearish divergence. (2) Now it's retracing to re-test the projected up trendline (RED), from where it may bounce-up to create the second leg towards channel's high. (3) Once, it reaches the upper boundary of the channel + horizontal resistance around 98.80, it may resume the downwards journey towards the 92-93 area. TRADE IDEAS: Short term- Buy the retraces until it reaches 98.80 Long-term- Selling it, once gets rejected from the channel's boundary along with a break of the rising trendline + re-test validation of the resistance. GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
TVC:DXYShort
by moneytize
USD/CAD Short setupUSD/CAD just broke through a horizontal which was tested a few times going back a month. A short setup is the retest of the horizontal to confirm the breakdown and continue downwards. Entry --> 1.3844 Stop Loss ---> 1.3880 Take Profit--> 1.3760 Risk/Reward --> 2.3 Please Comment, Like, & Follow! This information is not a recommendation to buy or sell. It is to be used for educational purposes only. Please follow a proper risk management program when trading.
by Chloster
1
USDCHF shortALOHA traders! Hope you all had a dominating and profitable end of April! Here's a two trades, one that that I missed getting into but was able to capture a second minor move down where I was hoping for it to break down. The position I got in only lasted for less than a day, 14 hours with a manual close of +.73%. I was okay with closing it as I didnt want to hold through the battle of high spreads and instead wait for a pullback for a better, long term short entry. However, if price continues to move upward and meet the 4hr 50ema, we may see a bull but not consireidng entering any bull positions at this time as other pairs are looking better. This is what I saw at the beginning of the week that was so beautiful I had to share an ascending triangle in action! Daily - had a beautiful ascending triangle with a triple top at a resistance area. 4hr - Within the ascending triangle, and ascending channel with lower highs took place creating a correcting pattern that had potential to break up or fall out of the acceding channel. A break of the 4hr 50 ema was a good sign for me to get in. 1HR - As price was hovering around the 1hr 50ema and still hovering within the ascending channel, I placed a virtual entry order(not on my real account). original entry was at 50 pips and potential target of recent significant low level for 2%. Will be keeping my eye on this one for this week as well. Other than that, I've been slow with my trading with only 10 trades this entire month ending at just over Break Even for the month which I am indecent about. There's always profit left on the table but t the same time, very happy with how I've performed over this entire coronavirus situation. I hope this provided some encouragement, enlightenment and down right motivation for you all reading. Mahalo! May you have a profitable week and even better month! Let's do this MAY!
Short
by Reid_Hicks
XAUUSD- Potential Long at 1590 (Big Swing Trade)XAUUSD would be a perfect Long from the 1590 region where my strong level of Support is located alongside the 78.6% Fibonacci Retracement. At the plotted Ascending Trendline i'm looking for wickfishing to occur upon reaching it, whereby price wickfishes to our Buy zone and then closes above this Trendline to capture this crazy big swing trade. I have such a high target for Gold as at the moment we are at a pivotal moment in the economy as the next recession is upon us; Gold will rise. If we cant see the Support zone of 78.6% Fib zones come through then ill be considering buying at the Trendline.
OANDA:XAUUSDLong
by Kaidk
EURUSD getting ready for a LONG ENTRY!We expect a retest in the downtrend before the big rise of the value so pay attention to the operation and if you can, put an alarm in 1.0800 or in a neraby zone to catch the best operation after the retest, what be want from this operation? at least 150 pips, risking a maximum of 40 pips but this is a personal decision so be careful with the spread when the markets opens and good luck with your operations!! For more analysis and updates of them FOLLOW ME AND GIVE A LIKE to support my effort!
Long
by BlazeGP
2
Will EURUSD pop or drop, long side looking a little better...We're at a crossroads on EURUSD, with recent pops on the pair one of 2 things can happen. A break out higher to 1.14 or a drop back down to the 1.105 level. We'll make the case for both below: 1. Bull Case: Currently, the daily candle is long and strong with no or very little wick, meaning the buyers are strong on the move. It broke above the previous resistance level at 1.118, we wanted to see a wick form there and a failure below for the bears. What we could see is a move into 1.1235 and a drop retrace to the broken double top and continue up to 1.14. over the past few months price has been in an uptrend without printing a new low, if market structure holds then we will see a new high. 2. Bear case, price fails and forms a strong wick before the day ends and closes below 1.1178 for potential sell entry. You have to watch this on an intraday chart a 4-hour chart to identify the rotations and the long wicks to confirm. Alternatively, price can move up to the next strong resistance at 1.1235 before failing.
by TRADEPROAcademy