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Keylevels

Bullish Channel Moves May Continue But Getting ShakyWe've been in a bullish channel for a good hot minute. From the 4hour chart, it looks like we'll remain in the channel. But there are signs that this move is starting to get a little shaky on the daily and weekly chart. So gonna keep an eye on this pair to see when the big drop is gonna happen. Otherwise, my swing trade outlook goes to the monthly SR level at the moment -- as long as we continue to stay in the channel. BULL TPS: 1.63487 1.64018 1.65135 1.66041 BEAR TPS: If we break out of the channel... 1.62096 1.61175 1.60126
by NikaJourney
GBP/USD - What Will be The Signal For Reversal Opportunity.GBP/USD is in amazing rally for the last 10 days, For now, I prefer to look for a reversal signal. If the price will breakout the support below it will be the signal for changing momentum to bearish, In that case, I'll look for a price action setup to sell GBP/USD. In addition, there is a significant MACD divergence which indicates the buyers running out of power. The target for the sell position will be the demand at the bottom.
Short
by the5erstrading
GBP/JPY - Long Term Buy Position Opportunity.GBP/JPY has a significant rally in the past few days which changes the momentum to bullish. Therefore, as a long term forex trader, I'll to buy GBP/JPY, In the M30 chart, there is a CCI divergence confluence with a fresh demand, that create a great setup to buy. If the price will breakout this demand I'll look to buy again in the lower demand which we can see on the D1 chart. The target for both options will be the supply above on the D1 chart.
Long
by the5erstrading
USD/CAD - Symmetrical Triangle in Monthly ChartUSD/CAD price performed a symmetrical triangle pattern on the Monthly chart. The price range becomes very tight, it seems that very soon the price will have to pick a direction and to break the pattern. It is very rare to find a triangle pattern on the monthly chart, If the price will break the pattern toward up I'll look for a price action setup to buy USD/CAD. If the price will break down the pattern I'll look for a price action setup to sell USD/CAD. The demand below on the monthly chart is the target for the sell position, The supply above is the target for the buy position. The demand below on the daily chart is still inside the pattern and therefore it riskier to trade it, but it's still a level with potential For good trade. This is a long term analysis for the USD/CAD.
by the5erstrading
Will Teacup Be Further Respected to Trendline?US30 moved some but is still stalling for the next big move. Not looking for anything major to happen until later this week. When it does, we'll know which way this thing is really going to go to start October off with a bang! For now, I THINK this teacup will remain respected all the way to market structure at 26438 at least. Or show a but-ugly range back up to the monthly. Remember, I'm practicing swing trading with this pair. So the TPs may take time to hit. Let's find out: BEAR TPS: 26724 26544 26438 26315 26106 BULL TPS: 26408 27061 27205
FX:US30
by NikaJourney
Will Head Neck And Shoulders Be Respected?Last week, the Head Neck and Shoulder formation was formed and technically we're still sitting at the neck. All I'm waiting on this week is to see will the pattern be respected and the bear run continues, or will he hover and return back to the monthly at 1537.30 before we know the true move? My TPs are below. Will try to update more when each one hits. BEAR TPS: 1489.61 1474.41 1455.75 1438.31 BULL TPS: 1502.23 1511.23 1520.48 1537.30
FX:XAUUSDShort
by NikaJourney
Will We Break Through The Trendline or Keep The Bear Run Going?We had a nice trendline rejection last week, which would've broken the bear trend if it kept going. But we still have a chance this week for that to happen. Solid support from the monthly zone of 80.566 means we should continue for the long. We'll just have to wait and see. As always, the TPS are in place for whichever the market goes. I hope it's up. BULL TPS: 81.750 81.922 82.178 82.283 82.753 BEAR TPS: 82.523 81.526 80.640 If it breaks the 80.566 monthly SR zone... 80.221 79.636
by NikaJourney
The GOLD price gets close to a fresh supply levelThe gold price is just about to reach the fresh supply above. It is a great supply for sell position, If we look at the D1 chart we can see that the price has performed a head & shoulders pattern but didn't complete all pattern yet. If the price will react to the supply above and move down from there it will complete the right shoulder and all the pattern. This confluence of fresh supply and Head & Shoulders creates a great setup for sell position. The target will be 1450.00 zones.
FX:XAUUSDShort
by the5erstrading
Will It Return To Monthly High or Keep Sinking?I'm beginning to backtest US30 since its the hot currency pair to trade in my circle. So I'll be posting trades I am currently practicing with all TPs to get adjusted to it. As you notice, I can only trade this thing on the 4hr. moves to fast for me on lower timeframes. Consolidation happened at the monthly high. This is the 2nd time price has visited the area. but let's see this week will we make the drop back down the weekly SR level or will we create a new market high for this pair. Right now, a pullback is due from the breakout it had. From there, we will see where price will go next. BEAR TPS: after pullback 26908 26724 26430 26130 BULL TPS: 27061 27185 27138 27645
FX:US30
by NikaJourney
Will Bearish Harmonic Continue To Be Respected?JPY was not in control this week as several pairs made their bull run with it this month. I'm looking for bearish moves now to correct the very long bull runs. So this will be a short for a bit. Even though we have a bullish engulfing on the monthly, I don't think it will get too much larger this week since GJ struggled with a daily SR level at 135.674. So much so, that a bearish harmonic has formed and looks like it will be respected for now. Let's see how far it drops this week: BEAR TPS: after pullback. 133.850 132.192 130.790 BULL TPS: 135.240 135.909 136.503 137.127
Short
by NikaJourney
Pullback Trading Before Continuing Bull Run Next MonthThe GBP is nowhere near done with its bull rally. I hope all of you were trading in favor of the GBP all this month. I gave a heads up to some family before September 1st and I hope they enjoyed the month-long ride. We have a morning star formation almost completely formed on the monthly. Looking for it to finish the bull candle before October starts. Then onward and upward. For now, let's see where this trade is going for the week. It may run bearish briefly as a giant pullback before continuing its upward climb. We'll find out soon enough: BEAR TPS: after a pullback to weekly SR level: 1.65516 1.64995 1.64280 BULL TPS: 1.66012 1.66331 1.66874 1.67666 1.68932
by NikaJourney
Pullback Will Determine What Happens Before Swing Trade ReadyPotential bearish swing trade setting up for Gold! On the monthly, a bearish doji has formed and the RSI is now overbought and curving. So the bearish swing trade will happen. Just have to be patient for it. For now, the market is having difficulty breaking the daily SR level at 1489.61. The big boy breakout will last week will get a correction before we find out what happens next. We're still in a big consolidating range, so have to wait and play this out patiently until the market akes a full decision where it wants to go and signal for next month. So let's see what happens: BULL TPS: 519.70 1527.43 1535.18 BEAR TPS: 1508.48 1502.88 1496.92 1489.61
FX:XAUUSD
by NikaJourney
Not Going To Go Down Too Much FurtherI missed the trade setup with the bearish harmonic last week. Shame on me. Bad Nika. Now that it's almost over since the trade is sitting at a daily SR level with rock bottom RSIs on the 4hr, daily, and monthly, it's time to say buh-bye to the short and get ready for potential trade setups for next month. On the monthly, we have a doji formed at the bottom of the bearish trend sitting on the daily key level and the RSI at rock bottom. I'm looking for the setup for a swing trade this week or the bull run to begin. I'm patiently waiting for the market to make its move. Here are my TPS for now: BEAR TPS: 0.89453 0.89155 [b [BULL TPS: 0.89873 0.90132 0.90529 0.90892 0.91256
Long
by NikaJourney