USDTRY - Relaxation ahead of Central Bank MeetingThe USDTRY is relaxing a tad, and the short-term bias has turned south for the first time in weeks. The Turkish Central Bank meets this week but so long as Erdogan continues with his current political stance (adversarial stance vs. Western Countries) there is little hope for the Try.
Take note of the key levels.
Fx
BTC/USD - Market OverviewBack with another Bitcoin analysis! Someone kindly asked me to change the way I deliver my analysis, so I decided to deliver it in exactly the same I always do every single time because this page is mine, and is only for people who appreciate free content. :-)
Bitcoin appears to have extended itself towards the target zone of my previous analysis that went EXACTLY to plan! :-) Because the last marabozu came so close to the target arrow it's a bit of a catch 22. We could argue that price extended itself just to hit my target before stalling, or we could say that people simply took their profits a little earlier than anticipated and that price could extend higher again to the actual arrow as we just came short before. Which one is it? it's impossible to tell. Usually I can read between the lines but due to massive over extension and near the target you simply never know.
I will be able to know using key hidden levels though! If price goes below 7185, looks like we are correcting to the downside and could see a downside move to between 7120 and 7000. If price has a candle close above 7360 (Especially if its the current 4 hour candle in this chart) then it looks like price will extend to the upside target of 7580 before the having the correction back to the support zone as indicated by the arrows in my chart.
Where do YOU think price will go? Leave a chart in the comments and let's share our thoughts!
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EUR/USD - INTRADAY - STAY TUNED FOR THE ENTRY, STOP LOSS, TARGETPay attention to the updates section as I will be posting when I will be entering my trade.
The analysis is made based on order flow using volume profile
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
EURUSD - Weekly Market Analysis - September 2018, Week 1Already shorted the market as Trend Trading Trade so is obvious that I'm bearish on this pair. On the actual trade, I've already shifted Stop Loss to Entry #SLE and attained a Risk-Free Trade #RFT.
I'm still looking for more shorting opportunity to short the market.
Traders, please don't chase, follow your trading rules, and for those who like to receive the trade ideas in advance, just let me know, I can put you in the inner-circle group if you fulfill the requirement.
GBPUSD technical analysisA bullish price channel is used in this analysis to capture the meandering price action of the GBPUSD on the Daily time frame from October 12, 2018 to present date.
1.38343 and 1.19602 mark the extremes (or width as indicated by the black arrow) of the channel and are therefore important to take note of for future price movement in the GBPUSD. The bottom of the channel was successfully tested on August 15, 2018 and thus suggests price returning to the opposite extreme (bullish).
1.32337 and 1.26720 indicate boundaries used in this analysis that can be used for trade entry with the former supporting a bullish bias and the latter bearish (i.e. break below the channel and price consolidation).
Time to buy Ethereum (ETHUSD)? The 1 hour timeframe of Ethereum (ETHUSD) is shown in this analysis with the sideways movement in price action from August 12, 2018 till current date captured with a symmetrical triangle chart pattern.
At least two points of contact on each trendline used to draw the chart pattern makes it valid as shown by the green ellipses. The implication of the pattern is a stalemate between Ethereum bulls and bears, and of importance is the fact that the triangle is coming after a downtrend in Ethereum, which therefore opens up the possibility of a bullish move.
$304.07 is used in this analysis to indicate a breakout to the upside, while $270.08 is used to indicate a downside ejection out of the chart pattern.
~$82.49 is used as the width of the triangle (i.e. $330.85 minus $248.36), so that a bullish move to the upside can be expected to target ~$387. A downside projection of the triangle can be expected to target ~$187.
The pattern is worked outOur pair have worked out the “inverted head and shoulders” pattern. The top is at the mark of 1.1320 and the shoulders are at the 1.1540 level.
After this we can see a turn of the price. Therefore, we believe that the price will continue the downward movement. The technical indicators point to a sale. Therefore, we advise you to look for points to enter short positions and monitor the formation of a downtrend.
XAUUSD H4 Bearish Corrective StructureI am busy watching the formation of this bearish structure on XAUUSD. The break to the downside could occur on this wave or we could see a reversal for one more wave up before the break to the downside.
Contact me via direct message for more details
Happy trading!
Linton
GBPUSD - Double Top in Place, Downtrend to Resume?Bloomberg article released today speculates October Brexit deal unlikely.
November also unlikely perhaps and deal being pushed into December.
Chances are we get no deal whatsoever. GBP attracting some sellers on this.
This may open up the downside again, so go over the GBP crosses (perhaps GBPCAD) for value picks.
EUR/USD - DOWNSIDE NOT OVER YET - EXPANDING FLAT IN PLAYAs highlighted on the chart I do believe the pair is currently forming a 4th wave Expanding Flat correction, therefore we could see one more wave to the downside when the price enters the 1.1880-1.2017 region.
Now bear in mind I will not sell (market execution) as soon as the price enters that area, no. I will set a sell stop as soon as it enters it instead (will post an update of the entry). The highlighted box is simply my area of interest.
Stay tuned for the updates.
Disclaimer:
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
We are trading by levelsOur pair was fixed under the level of 1.2860 and currently remains under it. Despite the weakening of the reserve currency, we believe that the downward movement will continue and reach the levels of 1.2800 and 1.2745.
The price is in the lower range of the Bollinger bands and is directed downward, so we recommend looking for points to enter short positions. If the price returns above the mark of 1.2860, we consider a reversal option with the levels of 1.2930 and 1.2970