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Bitcoin Bullish Confirmation, Tringle Patterns & Volume ProfileBINANCE:BTCEUR At Yellows you see a Bullish confirmation with re-test. Normally this pattern will bull even more. Green triangle pattern and blue ascending triangle. Waiting the breakout (include the 3 confirmation candles) to see the direction. Volume profile: It's break upwards after the yellow re-test, waiting to see if it's breakout the 'Point of Control' then normally the price will go upwards or if it's fail to breakout then the price will go back to bear market.
by stergosfragk
EURCAD > Structure Trade Near 1.4600Friend, if I am helping you somehow, you can also help me by liking this post and commenting below. much appreciated Follow up on #EURCAD the market at structure support level near 1.4600 price level, I had set an alert at this level to check for entry rules if they are met for entry but the market rallied before reaching my price alert. however, I am still interested in this market and watching the price action if it will come to test my level for a buy entry. I want to see a Successful test and close above 1.46000 before looking for a buy entry. Check today analysis below⠀ >>“The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless." ____________________________________________________________________________⠀ -Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀ -Please note this is just a PREDICTION and I have no reason to act on it and neither should you
Long
by TheTradersAvenue
7
Brent oil buyers remain hopeful inside five-week-old channelAlthough the weekly falling trend line probes Brent oil buyers of late, the commodity prices remain inside an ascending trend channel from May 27, not to forget staying beyond 100-SMA. The same joins an upbeat RSI line to keep buyers directed towards an immediate resistance line of $76.00. However, any further upside will be questioned by the stated channel’s upper line, close to $77.50. In a case where the oil bulls remain dominant past $77.50, the late October peak surrounding $78.00 may test the rally targeting the $80.00 psychological magnet. Meanwhile, pullback moves become less concerned until staying beyond the 100-SMA level of $74.10, needless to mention the channel support of $74.50. Also acting as a downside filter is the $74.00 mark, a break of which will make the quote vulnerable to decline towards the mid-June lows near $72.00. It’s worth noting that Thursday’s US ISM Manufacturing PMI and Friday’s US NFP, not to forget Thursday’s OPEC+ meeting, become the key events for energy traders.
TVC:UKOILLong
by MTradingGlobal
Gold bears battle key horizontal support ahead of US ADP dataGold justifies a downswing from 100-DMA and a 61.8% Fibonacci retracement break around $1,757 during early Wednesday. It should, however, be noted that a horizontal line from mid-March could test the bears around $1,755 amid nearly oversold RSI conditions, suggesting a corrective pullback. Failing to do so will make the quote vulnerable to decline towards the April 13 low of $1,723 before directing the gold bears to the yearly bottom surrounding $1,675. Though, the $1,700 threshold may offer an intermediate halt during the fall. During the anticipated bounce, also the much-needed before Friday’s US NFP, 61.8% Fibonacci retracement level of $1,768 will act as an immediate hurdle before the 100-DMA near $1,792. Although gold buyers may gain conviction beyond $1,792, the $1,800 threshold and May 13 low, as well as February 23 top, respectively around $1,808 and $1,816, could test the metal’s further upside. Overall, gold prices brace for a bounce but today’s US ADP Employment Change data for June becomes the key as it’s a precursor to Friday’s Nonfarm Payrolls (NFP).
OANDA:XAUUSDLong
by MTradingGlobal
1
AUDUSD bulls struggle between 50-SMA and previous supportDespite failing to cross the previous support line from May 13, AUDUSD holds onto bounce off 50-SMA amid early Monday. Given the pair’s risk barometer status amid the current cautious markets, AUDUSD is likely to remain heavy. Hence, a clear downside break of 50-SMA level surrounding 0.7570 should back the bears targeting the yearly low of 0.7478. During the fall, the last Monday’s swing high near 0.7545 and the 0.7500 threshold could offer intermediate halts. Should the market sentiment improves, backing the AUDUSD beyond the 0.7610 trend line hurdle, the early month low of 0.7645 and lows marked during late May, as well as mid-June, may test the pair buyers near 0.7675. In a case where the quote stays bullish above 0.7675, the 0.7700 round figure and the monthly peak of 0.7775 will be in focus. Overall, AUDUSD consolidates the monthly losses but the key resistance tests the upside momentum.
Short
by MTradingGlobal
AUDNZD > Possible Sell Setup!!Friend, if I am helping you somehow, you can also help me by liking this post and commenting below. much appreciated Follow up on #AUDNZD possible double top at structure level waiting for a retracement to decide if I want to get in a short trade if the price did not reach 1.07200 level first. i will monitor the price if it reached 1.07200 level as this might turn to head and shoulders pattern Check today analysis below⠀ >>“There is no single market secret to discover, no single correct way to trade the markets.” ____________________________________________________________________________⠀ -Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀ -Please note this is just a PREDICTION and I have no reason to act on it and neither should you
Short
by TheTradersAvenue
10
EURUSD drops back below 200-day EMA to keep sellers hopeful Sluggish markets and wobbling Treasury yields keep EURUSD below the key EMA amid a quiet session on early Thursday. However, the scheduled release of the US Durable Goods Orders for May probes the pair sellers as Fed policymakers and chatters over President Biden’s stimulus have already poked safe-haven demands of the US dollar. Technically, the currency pair battles the 200-day EMA level of 1.1940 as RSI recovers from the oversold area, flashing brighter odds for the upside move towards the 1.2000 threshold. Though, the quote’s further advances will be capped by lows marked during late January and early June around 1.2050. On the contrary, the current bearish impulse aims for an ascending support line from March-end, near 1.1855. Following that, a bit broader rising trend line, near 1.1760, will be crucial to watch as it holds the key to further south-run to yearly low and November 2020 bottom, respectively near 1.1710 and 1.1600. It’s worth noting that EURUSD is in a consolidation mode and hence downside becomes more acceptable than the otherwise case.
Short
by MTradingGlobal
GBPUSD > Possible Sell Setup Might Be in Play!!Friend, if I am helping you somehow, you can also help me by liking this post and commenting below. much appreciated Follow up on #GBPUSD The market came to my structure resistance level as predicted in my last analysis, which I will leave the link for you below this idea, Now I am looking for a valid reason to short the market near 14000 to target the lows. Check today analysis below⠀ >>“There is no single market secret to discover, no single correct way to trade the markets.” ____________________________________________________________________________⠀ -Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀ -Please note this is just a PREDICTION and I have no reason to act on it and neither should you
Short
by TheTradersAvenue
14
AUDUSD recovery battles 200-DMA amid mixed sentimentAUDUSD pares weekly gains while easing to 0.7543 amid early Wednesday. The pair earlier benefited from the Fed’s rejection to rate hike and tapering before the US dollar picked up safe-haven bids. Additionally, weighing on the quote could be risk-negative headlines from China and cautious sentiment ahead of US PMIs. Hence, failures to cross the key moving average, namely 200-DMA around 0.7555, could recall the 0.75000 threshold on the chart. However, any further downside will be restricted by a four-month-old support line near 0.7485. Meanwhile, an upside breakout of 200-DMA level of 0.75555 will need to cross multiple lows marked since early February near 0.7580 to convince buyers for a return. Following that, the 0.7600 and early month low near 0.7645-50 should gain the market’s attention as a break of which could confirm the bullish momentum targeting the monthly top near 0.7775. Overall, AUDUSD fades bounce off the key support line and hence further weakness can’t be ruled out.
Short
by MTradingGlobal
EURUSD > How to Trade This Pair!!Friend, if I am helping you somehow, you can also help me by liking this post and commenting below. much appreciated Analysis on #EURUSD the EURUSD seems to be supported here and I am waiting for a possible break and close to trade it again to the long side. if we fail to close to the downside we might see more downside. looking at the chart I see a possible target near 1.20 in case we succeed and closes above 1.1900 as explained on the chart. failing to rally and closing below the current structure support will open the door to test the 1.1700 Check today analysis below⠀ >>“There is no single market secret to discover, no single correct way to trade the markets.” ____________________________________________________________________________⠀ -Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀ -Please note this is just a PREDICTION and I have no reason to act on it and neither should you
by TheTradersAvenue
7
100-DMA probes gold’s recovery ahead of Powell’s TestimonyGold’s rebound from seven-month-old horizontal support fades below 100-DMA during early Tuesday. The failure to extend the corrective pullback joins bearish MACD signals to keep gold sellers hopeful ahead of the key testimony by Fed Chairman Jerome Powell. However, a clear break of $1,760 becomes necessary to tease the bears. Also challenging the metal’s downside could be the swing high of late March, around $1,755, a break of which could direct the commodity prices toward the yearly low of $1,676, with the $1,700 act as an intermediate halt. Meanwhile, an upside clearance of 100-day SMA near $1,795 precedes the $1,800 threshold to guard gold’s short-term upside moves. Also testing the bullish attempts is the mid-May lows near $1,808 as well as the $1,842-43 hurdle. In a case where the XAU/USD remains firm beyond $1,843, the early month low near $1,856 and the yearly resistance line close to $1,910 will be crucial to follow.
OANDA:XAUUSDShort
by MTradingGlobal
GBPUSD kick-starts the key week on a bearish noteGBPUSD remains pressured around mid-April lows, down for the fifth consecutive day, amid early Monday. Although oversold RSI conditions recently probe the cable bears, a clear downside break of 100-day SMA and an ascending support line, now resistance, from January 18 favor the pair bears. Hence, a horizontal area comprising March-April lows surrounding 1.3670 remains on the traders’ radar before directing the sellers toward 61.8% Fibonacci retracement of December-June upside near 1.3560. It’s worth observing that the lows marked during mid-February and early March, close to 1.3775, can act as immediate support. Meanwhile, corrective pullback needs validation from the previous support line from early 2021 around 1.3855 to challenge the 100-day SMA level of 1.3940. During the quote’s run-up beyond 1.3940, the 1.4000-4010 area and multiple levels around 1.4085 can test the GBPUSD bulls. It should, however, be noted that the bullish impulse remains challenged until the quote refreshes the yearly high beyond 1.4248 on a daily closing basis.
Short
by MTradingGlobal
USDCHF bulls aim for 0.9115 confluence after Fed, SNBUSDCHF extends Fed-led rally to the fresh high since May 06 even as the Swiss National Bank (SNB) reiterated status-quo during early Thursday. The pair seems to prepare bulls for the bi-annual SNB press conference while heading towards a convergence of 100-day SMA and 50% Fibonacci retracement January-April upside. Given the upbeat RSI conditions, not oversold, the quote may battle the 0.9115 hurdle with a notable strength. However, a daily closing beyond the same becomes necessary to aim for another hurdle, near 0.9080, to the mid-March low of 0.9213. Meanwhile, failures to cross the 0.9115 resistance could trigger a pullback towards the early month top close to 0.9050. Though, any further weakness will be questioned by the 0.9000 psychological magnet and a horizontal area comprising multiple levels since December 21, 2020, around 0.8930-20. In a case wherein the USDCHF prices drop below 0.8920, February lows near 0.8870 and January bottom close to 0.8835 could offer intermediate stops before dragging the pair to the yearly low of 0.8756.
Long
by MTradingGlobal
Bitcoin H&S Target Touched 8 times. Bull run will resume soon.Pretty simple analysis here. I find that often simple analysis isn't any less correct than complex. Anywho, Bitcoin dropped perfectly from our neckline of the H&S pattern at around 50k, exactly where I sold. I then hit our target down from that neckline perfectly! You can see this target drawn on the chart. Here is where I immediately posted that we should all be buying. Though unintentional, I drew the target line weeks out. We've hit that target line now (or have come close) 8 times. Our upward resistance now becomes the ORANGE uptrend line from MID-OCT of last year. You can see we've hit our heads on that quite a few times as well. I expect it to break soon. However, the reason that this post is neutral, is because it has not broken yet. I am and have been fairly bullish ever since BTC hit 30k. That is obvious from my posts which you can view below. However, I will only become a full-on bull again once we break that overhead resistance (ORANGE trendline). And although I am mostly all in the crypto market again, my sell stops are fairly tight. This last resistance is huge and MUST be hurdled first. Happy trading all!
COINBASE:BTCUSD
by stewdamus