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EURNZD DAILY CHART PROJECTIONDon't MISS! After collecting our data from the weekly timeframe, price initially was in a downtrending market and we had a success break of structure so we expected that the market will change it's direction from downtrend to uptrend of which it did. The current trend to the upside which is visible on the DAILY timeframe, we can regard that as our Impulsive trend/move. Within this move, price is making a valid uptrend creating HIGHS and LOWS . The impulsive trend is currently moving rapidly which broke the resistance level (Check the arrow). Our anticipated overall price target is @1.82000 level As we all know, price is not just going to fly there, it's going to create a trend to get to the final target. So we're expecting price to make a new low to @1.73500 to @1.72000 level then we will look for a bullish confirmation. TRADES OPPORTUNITY I am currently watching this market closely and we will look at the smaller timeframe so we have a confirmation for a short sell. Join my channel to not miss this opportunity Kindly Like this Trade Idea if you love it and Follow me for more Thanks Regards.
Short
by opizzlefx
Learn Top 4 Price Action Pattern to Trade Reversals Hey traders, In this article, I will share with you the list of 4 best reversal price action patterns. 📍Ascending & Descending Triangles The main element of the ascending triangle as the REVERSAL pattern is the BEARISH impulse leg, preceding the formation of the pattern. The pattern consist of 2 main elements: a horizontal neckline based on the equal highs, a rising trend line based on the higher lows. ❗️The trigger is a bullish breakout of a neckline of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying at least below the level of the last higher low. 🎯Take profit is the next historical resistance. —————— 📍The main element of the descending triangle formation as the reversal pattern is the BULLISH leg, preceding the formation of the pattern. The pattern consist of 2 main elements: a horizontal neckline based on the equal lows, a falling trend line based on the lower highs. ❗️The trigger is a bearish breakout of a neckline of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying at least above the level of the last lower high. 🎯Take profit is the next historical support. 📍Rising & Falling Wedges What makes a rising wedge pattern a reversal pattern? Before the formation of the pattern, the price should form a strong bullish impulse and trade in a bullish trend. The pattern consists of 2 contracting, rising trend lines based on the higher highs and higher lows. ❗️The trigger is a bearish breakout of a support of the pattern and candle close below. 📉The position is opened on a retest. 🔴Stop loss is lying above the high of the pattern. 🎯Take profit is the closest horizontal support. —————— What makes a falling wedge pattern a reversal pattern? Before the formation of the pattern, the price should form a strong bearish impulse and trade in a bearish trend. The pattern consist of 2 contracting falling trend lines based on the lower lows and lower highs. ❗️The trigger is a bullish breakout of a resistance of the pattern and candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying below the low of the pattern. 🎯Take profit is the closest horizontal resistance. 📍Double Top & Bottom Double bottom pattern usually forms at the end of a bearish trend. After a strong bearish impulse, the price retraces, sets a lower high and retests the current low. Instead of going lower, the price retraces one more time, retests the level of the last lower high and breaks it. Such a formation confirms a bullish reversal. ❗️The trigger is a bullish breakout of a neckline of the pattern and a candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying below the lows of the pattern. 🎯Take profit is the closest horizontal resistance. —————— Double top pattern usually forms at the end of a bullish trend. After a strong bullish impulse, the price retraces, sets a higher low and retests the current high. Instead of going higher, however, the price retraces one more time, retests the level of the last higher low and breaks it. Such a formation confirms a bearish reversal. ❗️The trigger is a bearish breakout of a neckline of the pattern and a candle close below. 📈The position is opened on a retest. 🔴Stop loss is lying above the highs of the pattern. 🎯Take profit is the closest horizontal support. 📍Head & Shoulders Pattern & Inverted One Inverted H&S pattern usually forms at the end of a bearish trend. The price forms a zig-zag movement with 3 main elements: the left shoulder with a lower low, the head with a new lower low, and the right shoulder with a higher low. While the price sets multiple lows, it keeps setting the equal highs, composing a so-called horizontal neckline. A bullish reversal becomes confirmed once the price breaks and closes above the neckline. ❗️The trigger is a bullish breakout of a neckline of the pattern and a candle close above. 📈The position is opened on a retest. 🔴Stop loss is lying below the lows of the pattern. 🎯Take profit is the closest horizontal resistance. —————— Head & Shoulders pattern usually forms at the end of a bullish trend. The price forms a zig-zag movement with 3 main elements: the left shoulder with a higher high, the head with a new higher high, and the right shoulder with a lower high. While the price sets multiple highs, it keeps setting the equal lows, composing a so-called horizontal neckline. A bearish reversal becomes confirmed once the price breaks and closes below the neckline. ❗️The trigger is a bearish breakout of a neckline of the pattern and a candle close below. 📈The position is opened on a retest. 🔴Stop loss is lying above the highs of the pattern. 🎯Take profit is the closest horizontal support. In order to increase the accuracy of trading these patterns, I would recommend trading them only if they are formed on key levels: Bearish patterns on key resistances and bullish patterns on key supports. Also, higher is the time frame where you spotted the patterns, higher is the chance that it will give a valid reversal signal. ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDEducation
by VasilyTrader
17
XAUUSD - KOG REPORT!KOG Report: In last weeks KOG Report we said we would be looking for the support levels to hold to give an opportunity for the long trade before we then see a reaction in price. We then said we would be looking at the higher levels to confirm the resistance before we attempt to take the short trade back down. We plotted the immediate support level with a circle around the 1950-55 region and then gave the two higher levels we would be looking for, also circled on the chart. There were only 3 points of contact we were looking for combined with the weekly chart level we had added in March for the bullish target. As you can see from last weeks KOG Report, we completed a point to point, level to level move timed to perfection again, just like we do day in, day out in Camelot. 4H chart levels were completed as well as the weekly target plotted on the 19th of March where we got a TAP AND BOUNCE. So, what can we expect in the week ahead? We’ll start by saying, due to it being the holiday weekend we’re very likely to see gaps on opening across the market, especially due to the NFP release on Friday which happened while many instrument were closed. For that reason, we’ll say take this as reference for Monday and we will update it on Tuesday once we have a clearer picture. For the week we will be looking at the support levels 1980-85 as the first point of contact, this is where we need to see a gap down to (if it happens) before an attempt on recovery. Below there we have further key level support around the 1960-55 level, we want price to stay above this level to resume the move to the upside, otherwise we may see a deeper correction. We have an Excalibur target below which hasn’t been hit, this is something we will be looking for in the early part of the week if the price continues the retracement. The higher levels are now the target levels for the long trades, this is based on clean support and any gaps being filled in the early part of the week. The ideal target here for the long trades is first 2035 and then above that the 2045 level. We’re again long level to level with the plan to short the market from higher up, if we get there. Best practice in this environment is to sit out the opening and the early sessions, let them move the market and create the mess they want to, once settled, then start looking for the set up. We’ll be doing the same in Camelot targeting the Excalibur targets once the price market has found its feet. Expect another week of aggressive, whipsawing and choppy price action, so please be careful, control your lot sizes and make sure you have a risk model in place. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
4