AUDNZD: Important Bullish Breakout 🇦🇺🇳🇿
AUDNZD violated a resistance line of a wide horizontal range on a daily.
It opens a potential for more growth.
Next resistance - 1.116
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Forexswingtrader
GBPJPY: Bearish Continuation Ahead 🇬🇧🇯🇵
GBPJPY will most likely continue trading in a bearish trend
after a confirmed bearish breakout of a key horizontal support.
The broken structure and a falling trend line compose
the contracting supply zone now.
Chances are high that a bearish movement will follow from that.
Next goal - 186.0
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AUDCAD: Important Breakout 🇦🇺🇨🇦
AUDCAD managed to violate a support line of a wide
horizontal range on a daily.
It opens a potential for a further decline.
Next support - 0.892
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NZDJPY: Change of Character Confirmed?! 🇳🇿🇯🇵
NZDJPY confirms a bullish reversal on a daily.
The price violated both the resistance lines of a falling channel
and a horizontal range.
Bullish breakout of the underlined blue resistance also is a valid
Change of Character.
The market may go much higher soon.
Next resistance - 89.75
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NZDCAD: Bearish Trend Continuation 🇳🇿🇨🇦
NZDCAD broke a support line of a wide consolidation range on a daily.
It opens a potential for a further decline.
Next support - 0.816
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AUDUSD: Bearish Continuation Signal 🇦🇺🇺🇸
AUDUSD set a new lower low lower close on a daily,
violating a support line of a descending triangle pattern.
It indicates a continuation of a current bearish trend.
We can expect a bearish movement to 0.64 level
with a consequent continuation to 0.637
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NZDUSD: Bearish Outlook For Next Week Explained 🇳🇿🇺🇸
NZDUSD is retesting a recently broken daily horizontal structure support.
With a high probability, it turned into a resistance.
I will expect a bearish movement from that at least to 0.6 support.
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BEARISH MOVE ON GBPUSDSold GBPUSD
Entry 1.2020
Sl 1.2180 (160 pips)
Tp 1.0685 (1335 pips)
Weekly resistance met +200 MA showing weakness to the bullish side on the daily TF.
Large institution is in a short position on the pair.
The UK economy is in a horrible position. By the looks of it, their major issues such as their energy prices and increased cost of living are being resolved, but in fact are getting worse with their energy prices reaching a new ATH. Until this is addressed properly, I see a continuation to the downside.
Trend continuation downward on USDCHF Good seasonality trade. 81.1% of retail traders are long on the paid. As stated in previous analysis, when retail traders til heavily on one side above 60%, institutions tend to take the opposite side. Price breaks important supply and demand zone with good movement. Supported by strong retail money long.
EURNZD: Trend continuation to the downside Entry: 1.655
TP 1.635
SL 1.6645
RIsk/Reward Ration: 2.28
Retail money 75.7% Long.
A clear downtrend in the 1D chart. Higher lows with clear rejection of key support levels. Both MAs showing the start of a strong downtrend.
Thesis: Long on NZDCHFEntry .5856
SL .5699
TP .6300
What are institutional traders doing?
We see NZD has a long % of 41.9 and CHF at 10.63%. Clearly showing institutional traders favoring CHF
What are retail traders doing:
Retail traders are 44% LONG and 56% SHORT. This information really only has a significance when retails tend to favor one side by more than 60%.
What history tells us?
Based on historical data, this market tends to rise during this month.
Fundamentals: GDP growth and interest rates favor NZD while inflation and unemployment favors CHF
Taking a long position on this trade. Price has immediately rejected in the supply & demand zone. Good seasonality trade.
HOPEFULLY BULLS WILL STRIKE IN AND HIT MY TARGET.The first question i always ask myself is "who is in control of price?" that way i can analyze my trrading from a price action point of view.
So, who is in control of price on this one? First we have a bearish trend followed by a tiny pull back and then an indecision candle which tells us that the bearish power might transitioning to the bulls. Of course i might be wrong, but that is why i keep my Risk/Reward a 2:1 minimum, that way i only have to be right 40% of the time in order to be profitable.
"Trading is not about being right most of the time, its about being profitable" - Anonymous
Trading Details:
Time Frame: 8hr
Entry: Above the high of the indecision candle
Stop loss: A few pips below the Indecision Candle
Risk/Reward: 2:1
Account Risk: 2%
[AUDUSD] PIN BAR CANDLESTICK + AREA OF RESISTANCEFX:AUDUSD
In this trade we can see a nice preceding bullish trend heading towards an area of resistance, next we see a nice pin bar candlestick which tells us that the bullish power might be transitioning to the bears. Confirmation is needed for me, so i executed a breakout entry below the low of the pin bar candlestick or also called Indecision Candle.
Trading Details:
Time Frame: 12hr
Entry: Below the low of the indecision candle (Pin Bar)
Stop loss: A few pips above the high of the Indecision Candle
Risk/Reward: 2:1
Account Risk: 2%
