No trade taken last week due to the gap that was formed at the start of the week. I didn't want to end up forcing a trade and breaking my trading plan but this is the trade we would have taken if we were playing it a little more risky. To some traders this isn't risky at all and maybe I played it too safe but this type of discipline is what you need to be successful as a trader. As for the pair CADJPY, I was looking for it to retrace deeper into the zone to then continue trending down but price didn't. We still did manage to read this entire move to the T and I'm satisfied with my decision last week. We should get a good move this upcoming week. ?
Hey everyone here’s my analysis for Gold this week no trade last week cuz my edge wasn’t present….As you can see on my chart I’m bullish on Gold and the areas I put an arrow will be the zone’s I will be interested for buys with my confirmation before execution I won’t execute if I don’t see my edge cuz a trade need to have a reason before execution….I will be waiting for price to drop below the next support or the one below or wait for price to create an All time high (ATH) with a nice pullback for a push to the upper side…Let’s have a win week guys
- Breakout Back-test held again - W100sma Held again - Bullish Divergence on Daily RSI Upside LOI's $86.97 / $87.39/ $88.77 / 89.36 Support LOI's $85.68
? #GBPJPY Sell 192.6 - 192.8 ? Stoploss 193.2 Breakeven 192.55 TakeProfit 1: 192.4 TakeProfit 2: 192.2 TakeProfit 3: 192.0 TakeProfit 4: 191.8 TakeProfit 5: 191.6 TakeProfit 10: 190.6 TakeProfit 20: 188.6 TakeProfit 30: 186.6 Trade at your own risk Protect your capital The Wizard ?♂️ Tuesday 02/04/2025 03:15 AM EST
Through my weekly Episode multitime frame analysis , you will get deep insights . Market in on rising channel since last month,our eyes will be at 2950 milestone on this monthly candle. First of all market is n critical channel ,actually rangboung area (2860-2870),if any H4 close above 2870 well see 2900 direct or if 2860-55 support breaks we will have 2820-25 on mark on the otherhand , first market will retest the 2820-25 and create the 2nd lower low and fill the liquidity gap.from where buyers have massive oppurtinities
My previous chart may still be valid, but I will build on it with a new chart. We are seeing a triangle formation with the tip forming on Feb. 12. We should see the market breakout, either up or down before the tip. (I typically switch to the hourly charts when drawing my triangle formations to get a more precise drawing. But oftentimes, that will make the lines on the daily chart not match up exactly.) I am NOT a fundamental trader (I am a technical trader) but I find the technical indicators tend to coincide with fundamental reasonings or explanations. Donald Trump stated on Friday, Feb 7th, he will announce tariffs on many countries next week so it would make sense that the market would move next week following the announcement. From a technical trading point of view, the market could go up or down closer to the tip of the triangle. Breakouts of triangle pattern usually occur 2/3 to 3/4 of the triangle length, so the SPY could move outside the triangle before the tip (Feb 28). The triangle pattern is usually considered a continuation pattern which means the market will continue in the direction it was moving before the triangle started. This pattern should usually have at least 5 touches of support and resistance. (You can get any of this information from the internet.) I think there are 3 aspects to trading: 1) Being able to read the charts so you have an idea where the market is going. 2) Being able to choose the correct trade strategy for the market conditions. You do not want to put a bullish trade when the market is bearish and vice versa. There are also certain trades where you can make money when the market is trading sideways with a non-directional trading strategy or a different trade if the market is extremely volatile. You can apply an iron condor, a credit spread, debit spread or butterfly trade depending on the market conditions. All trading strategies have their own risks and rewards. 3) Knowing details, both the positives and negatives about your brokerage which can really elevate your trading. MORE THEORY … which I have stated before. I am using the Heikin Ashi candlesticks. Why Heikin Ashi candlesticks? 1) They show more of a directional movement within candlesticks. 2) They tend to filter out the market noise so you can see the market direction better. 3) It reduces false signals, allowing you to stay in the trade longer. 4) And, it gives you a smoother appearance making it easier to see trends and reversals. (This information is from Dr. Keith Wade who speaks at the Wealth365 Summits.) I personally find: * the 5 minute indicators typically represent what will happen in the next half and hour. * the 10 minute indicators typically represent what will happen in the next hour. * the 30 minute indicators typically represent what will happen in the daily. * and, the hour indicators typically represent what will happen in the next week. Typically, I would wait until there are 2 green Heikin Ashi green candlesticks before entering. I still tend to switch back and forth between Heikin Ashi candlesticks and regular candlesticks since regular candlesticks are what I am familiar with and have been using since I started trading. I use the MacD, the Stock RSI and the DMI to assist me with the direction of the market. I am not perfect at them. I will hopefully try to explain these in future trading charts. I am trying to take trading classes through Udemy, mostly because they are cheap. I usually wait for a sale where the courses are as low as $14.99 instead of paying over $100 per course during the rest of the year. As well, you may be able to get access to Udemy through your local library depending on where you live. www.udemy.com/ I always try to attend the free Wealth365 Summit which is held about 4 times a year where I always pick up some more useful information. I believe the next week long summit will be around April. Again, I am not affiliated with this company in any way. www.wealth365.com/ I really like writing up these charts and always learn something new with each chart I draw. The first one is always the hardest but I encourage everyone to draw a chart at least once. Drawing charts was one of the best things I did to improve my trading. Don’t be afraid to make a mistake. Mistakes don't need to be avoided or feared. They help move you forward. Happy trading, everyone!
NASDAQ:AAPL weekly in a inside candle range of Prev Week low -223 / Prev Week high -236 last Week low -226 / last Week high -234 Current week sentiment - Bearish Break 226 -> targets 223,219 Other plans: Base near 226 and shift to uptrend or Break 226 look for higher base around 219 and uptrend from there.
gbpnzd started to pull back with the reaction it received from the upper resistance of its falling channel. It will first pull back to the level of 2.1840.
The chart highlights key support and resistance zones, potential price movement, and entry/exit levels. Key Observations: 1. Support Zone (Red): Price is currently near a significant support area around 70.4 - 71.1. A potential bounce from this level is expected. 2. Resistance Zone (Green): The first target resistance lies around 71.9 - 72.7, which may act as a reaction zone. 3. Projected Price Movement: A possible liquidity grab within the support zone before an upward push. The ultimate target is around 76.8, aligning with a strong resistance level. 4. Risk Considerations: A breakdown below 70.4 may invalidate the bullish outlook. Proper risk management is essential, considering market volatility. This analysis suggests a bullish reversal if the support holds, with a potential rally towards 76.8. However, traders should monitor price action closely for confirmation.
Price has broken trendline to the upside. Head and Shoulders on the Daily timeframe suggests a price reversal to the upside. Stochastic RSI on the midterm timeframes suggests price could be moving to the upside this week. If price continues down and breaks 4 hour support, this trade will be invalidated and will look for Sells to 1.22430