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📉 $OXT/USDT Falling Wedge Setup! 📉📈 Exciting news for #OXTUSDT traders! 🚀 The chart is forming a captivating Falling Wedge pattern, pointing towards a potential bullish reversal! 💹 📉 As the price has been marking lower highs and lower lows, the falling wedge pattern indicates a phase of consolidation and decreasing selling pressure. 🧩 Falling wedges often pave the way for upward breakouts, suggesting a potential trend reversal and the emergence of a new bullish phase. 💡 Keep a close eye on the wedge's resistance and support levels to anticipate the potential breakout direction. 📊 Technical indicators are showing promising signs of a potential reversal, adding further credibility to the bullish outlook. 🔔 Stay alert for a breakout above the upper trendline, as it may act as a signal for the start of a bullish trend. Remember to set your profit targets and stop-loss levels wisely. 📅 Always prioritize risk management and trade responsibly. Thorough research is key before making any trading decisions. 🚨 Don't miss the action with #OXT! 🚨 Let's see how this Falling Wedge unfolds! 🤞 (Note: This post is for informational purposes only and should not be considered as financial advice. Trading involves risks, and past performance is not indicative of future results. Always conduct your due diligence and seek professional advice when necessary.) #CryptoTrading #TechnicalAnalysis #BullishSetup #TradeSmart #DYOR #CryptoMarket #ChartAnalysis #EmbraceTheWedge #BullishTrend 🚀💰📈
Long
by STP_MrNodeItAll
Potential swing trade short on AUD/USDThe AUS/USD is within an established bear trend on the 4-hour chart, and closed to a fresh YTD low on Friday having broken beneath the March and April lows. Prices have managed to retrace over the past two days during lower-liquidity trade whilst the US dollar’s rally took a breather. For now, we’re looking for evidence of a swing high below or around the 0.6550 – 0.6572 zone which includes the weekly pivot point, March and April’s lows. We note that some of the heaviest volume during its previous leg lower is at 0.6532, which suggests bears are caught short whist prices retrace higher. SO whilst we see the potential for another burst higher, it’s important prices remain below 0.6580 (otherwise we can expect bears to cover and trigger a short-covering rally). The initial target is around the 0.6500 handle / last week’s lows, a break beneath which brings the 0.6450 / weekly S1 and 0.6400 lows into focus.
Short
by CityIndex
EURAUD I 100 pip swing coming soon I Watch and prepare 🎯Welcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
15
Potential swing trade on NZD/JPYA soft inflation report from New Zealand weighed broadly on the Kiwi dollar yesterday, as traders began to price in the prospects of a 25bp hike (down form 50bp) or even a pause at the RBNZ's next meeting. The slight risk-off tone saw flows into the yen, and risk-currencies such as AUD and NZD were lower which has placed ZD/JPY on our shirt watchlist. The cross has seen repeated failures to close above 83.50 over the past three weeks, and yesterday's high met resistance perfectly at the 200-day EMA. Given the bearish engulfing candle which has now formed, we suspect a leg lower seems more probably than a break higher. Also note the decisive close beneath trend support. - The bias remains bearish beneath yesterday's high - However, we'll seek bearish setups below/around 83.15 (50% retracement of yesterday's open-close range) - Initial target is the cycle just above 82.0
Short
by CityIndex
Brent Crude Oil Swing TradeThe price of Brent Crude Oil has fallen and tested the previous support level (Blue Line) outlined in the previous newsletter. Currently, we could see a potential swing back upwards. If the price breaks the support level, we could see a fall in price. However, I see the former as the more likely scenario, as the 0.5 Fibonacci level (Green Line) is also below the trendline - providing further support. This support is further backed by the Stochastic RSI and MACD indicator coming to show potential buy signals. To see why I chose these support and Resistance Levels see my linked idea below.
OANDA:BCOUSDLong
by BlackbearTrader
Mastering Multiple Timeframe Analysis Forex trading can be a challenging and complex activity. As a result, many traders struggle to find a strategy that works for them and often lose money. One important aspect of successful forex trading is multiple timeframe analysis. This post will discuss how to perform multiple timeframe analyses in the forex market and how it can help if you're struggling with the concept. What is Multiple Timeframe Analysis? Multiple timeframe analysis is the process of analyzing the same currency pair across different timeframes. By looking at different timeframes, you can better understand the market trends and make more informed trading decisions. For example, if you are trading the EUR/USD currency pair, you might look at the daily chart to get an overview of the long-term trend. You might then look at the hourly chart to identify short-term trends or potential trading opportunities. Why is Multiple Timeframe Analysis Important? Multiple timeframe analysis is important for several reasons. Firstly, it allows traders to understand the market trend better. By looking at different timeframes, traders can see if the currency pair is in an uptrend, downtrend, or range. Secondly, multiple timeframe analysis allows traders to identify potential trading opportunities. By analyzing different timeframes, traders can identify key support and resistance levels, trendlines, and chart patterns that may indicate a potential trade. Finally, multiple timeframe analysis can help traders to manage their risk. By looking at different timeframes, traders can minimize risk based on opportunities to place tighter stop losses and bigger target profit areas. How to Perform Multiple Timeframe Analysis Performing multiple timeframe analysis is not difficult, but it requires some practice and patience. Here are the steps you should follow: Identify the Currency Pair to Trade The first step is identifying the currency pair you want to trade. This could be any major currency pair, such as EUR/USD, GBP/USD, or USD/JPY. 2. Select the Timeframes to Analyze Next, you need to select the timeframes that you want to analyze. A good rule of thumb is to use three different timeframes: a long-term timeframe (daily or weekly), a medium-term timeframe (12 hours or 4 hours), and a short-term timeframe (15 minutes or 5 minutes). 3. Analyze the Long-Term Timeframe The long-term timeframe is the most important, providing an overview of the market trend. If you're a technical analyst, look for major support or resistance levels, trendlines, or chart patterns indicating a potential trading opportunity. F.Y.I. My trading is not based on Technical analysis in a conventional manner. I pay more attention to price in the form of price action candlesticks. This makes it easier to separate the timeframes and direction of price when I move up and down in timeframes. 4. Analyze the Medium-Term Timeframe The medium-term timeframe is used to identify any short-term trends that may be developing. Look for any key support and resistance levels, trendlines, or chart patterns that might indicate a potential trading opportunity. In this example, because GBPUSD is still in an uptrend, it's important to perform a top-down analysis that supports the different trend cycles on lower timeframes to remind yourself what the overall trend is, where the price is now, and where it's going next. I love the medium timeframes, such as the 12-hour and 4-hour, to analyze where the price is now and get more detail from the charts. 5. Analyze the Short-Term Timeframe The short-term timeframe is used to identify any potential entry and exit points for a trade. In addition, look for any key support and resistance levels, trend lines, or chart patterns that might indicate a potential trading opportunity. 6. Put it all Together Once you have analyzed all three timeframes, you should understand the market trend and potential trading opportunities. Use this information to make informed trading decisions, and always remember to manage your risk. In conclusion, multiple timeframe analysis is an important aspect of successful forex trading. By analyzing different timeframes, traders can better understand market trends, identify potential trading opportunities, and manage risk. If you are a struggling trader, consider using multiple timeframe analysis in your trading strategy. If you enjoyed this post and valued the tips, comment to this post to let me know your takeaway. If you're struggling with top-down analysis and have a question, reply with your question, and let's chat a bit. Your trading coach, Shaquan
Long
by ShaquanLopez
3
AUD/NZD holds support ahead of AU and NZ dataTechnically, AUD/NZD looks ripe for another leg higher as it is holding above trend support and the 100-bar EMA. A break above the weekly pivot point could confirm such a breakout and resumption of its trend and bring the weekly R1 / recent highs, with 1.10 also making an interim target along the way. However, keep in mind that data from AU and NZ between 11:30 AEDT and 12:00 could make or break this trend. Ideally, we’d need to see strong AU household spending, an okay (or better) business sentiment report alongside lower NZ inflation forecasts for this to simply break higher. For now, the bias is for a break above the weekly pivot whilst prices remain above yesterday's low. A downside break of the trendline suggests a deeper pullback is underway.
Long
by CityIndex
My Backtesting Results on NZDCHFHolding trades is what I want to get better at and backtesting is going to help me do it. I've backtested NZDCHF today and found that it was a remarkable session. I was able to enter 4 trades in the span of 3 months gaining over what would have been 15% from the trades, but one trade hit my break even point so I gained around 12% from my trades. I used the monthly, weekly, and daily timeframes with most of my entries coming from the daily timeframe. I used my own strategy known as TMP. It stands for Trend, Market Structure, Price Action(or, pending orders). I identify the trend first, then set my estimation zone, then place my pending order. In that order, thats it. I don't use support and resistance, trend lines, or indicators for the most part. I like using price action. Its my preference that has changed throughout my trading career. I've noticed I a few reasons why I don't enter my best setups are due it 1) Money trauma( family had poor money management) 2) Time limit( pressure from showing results) To get over those, I have set parameters to take partials, move my trades to break even, and set pending orders to eliminate myself not entering my own trades. This helps in the long run and has helped since collecting data on myself since the start of me using prop firms. I can only pray that through my backtesting and trading journey, this can help you too. Please let me know if you have questions regarding my backtesting or found something unique that helped you. Safe trading❤️
Education
by ShaquanLopez
1
Copper bulls to return around $4.00?Price action on copper has caught our eye, as its pullback from the YTD highs has paused above the November highs despite a surging US dollar. RSI (2) is overbought on the daily chart, and yesterday’s Doji held above the 20-day EMA. It's also holding above $4.00, whilst money managers and large speculators have continued to increase their net-long exposure to copper futures despite the pullback on prices. - From here, the bias is bullish above 3.95 and for prices to have another crack at the YTD high - Another approach is to scale into such a position with a wider stop, with a view to increase exposure if or when momentum turns higher sufficiently enough to call a swing low.
COMEX:HG1!Long
by CityIndex