EURUSD simple analysis: resistance zoneA minor Elliot Wave finishes. Waiting for bearish E.W. to form. Awaiting retest on boxes. USD will weak it's power so USDCAD will probably show strong bullish movement. Shortby FtradorexUpdated 113
EURUSD TURTLE SOUP SETUP SHORT - BEFORE INTEREST RATE CUTHi. I am bearish on EURUSD now as it reached the price I was interested to open short. Interest Rate cut for EUR is coming in June, the dollar should start reversing around now. CFTC reported recently more commercial shorts compared to longs (attached). Stop loss on chart. Target 1: 1.081 Final target on retest of flip zone.Shortby eZ_RealUpdated 224
EUR/GBP at Crucial Juncture: Multi-Timeframe Trading Insights EUR/GBP is retesting a long-term support zone which is relevant across multiple timeframes. Let’s explore the trading opportunities available on different timeframes. The Bigger Picture: EUR/GBP Weekly Candle Chart Analysis EUR/GBP’s weekly candle chart shows a series of lower swing highs into a key area of horizontal support, forming a descending triangle pattern. This higher timeframe context suggests that if the support is broken, there could be downside continuation towards the 2022 lows. Past performance is not a reliable indicator of future results Detailed Look at the Reversal Zone: EUR/GBP Daily Candle Chart Analysis EUR/GBP’s daily candle chart highlights the significance of the support zone currently being tested. Over the past year, this support zone has been retested multiple times, helping to define its parameters as the range between the lowest close and the lowest low. Having formed a higher swing low in May, recent price action has seen EUR/GBP decline towards the support zone again, alerting short-term reversal traders. Past performance is not a reliable indicator of future results Short-term Response to Reversal Zone: EUR/GBP Daily Candle Chart Analysis The hourly candle chart reveals that the market is already reacting to the support zone. Last week, multiple bounces from the top of the support zone were followed by a deeper test during today’s early trading, forming a bullish hammer candle and moving higher above the 9-period exponential moving average (EMA). Past performance is not a reliable indicator of future results Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.84% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. by Capitalcom112
EURUSD SHORT TERM BUY 💯Price was in a downtrend, Brokeout of the trendline We saw HH AND HL Also price is in a good demand zone So we go long Longby Silveryekerete113
Update the latest EURUSD strategy todayDear friends, let's discuss and strategize for today! The EUR/USD pair traded in positive territory for the second day in a row around 1.0850 during early Asian trade on Monday. A stronger-than-expected Eurozone preliminary purchasing managers index for May provided some support for the Euro. In case EURUSD continues to hold this high and confirms the 1.0842 support zone as support for further growth, the falling channel resistance is likely to be broken. From there, it could boost EU buying demand further to the 1.0800 mark as mentioned in last week's analysis. And you?Longby ConanForexUpdated 8840
USD-CAD Long From Support! Buy! Hello,Traders! USD-CAD is going down Now but the pair will soon Hit a strong horizontal Support level of 1.3598 From where we will Be expecting a local Bullish rebound Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!Longby TopTradingSignals223
Comprehensive Analysis of the Gartley Harmonic PatternThe Gartley Harmonic Pattern, a cornerstone of harmonic trading, was first introduced by H.M. Gartley in his 1935 book "Profits in the Stock Market." This pattern leverages Fibonacci retracement levels and geometric price formations to identify potential market reversals, providing traders with a strategic edge. __________________________The Bullish Gartley Pattern___________________ Structure: X-A Leg: The initial upward movement. A-B Leg: A retracement of approximately 61.8% of the X-A leg. B-C Leg: An upward move retracing between 38.2% and 88.6% of the A-B leg. C-D Leg: The final downward movement, retracing 78.6% of the X-A leg, marking the pattern completion at point D. Entry Criteria: Entry Point: Enter a long (buy) position at point D, where the price is expected to reverse upward. This is typically the 78.6% Fibonacci retracement level of the X-A leg. Stop-Loss: Placement: Set a stop-loss order slightly below point X to safeguard against unexpected price movements. This minimizes potential losses if the pattern fails. Take Profit: First Target: Place the initial take profit target at point B, the retracement level of the A-B leg. Second Target: Set the second target at point C, the retracement of the B-C leg. Extended Targets: For a portion of the position, consider holding to capture further gains if the price continues to rise. _________________________The Bearish Gartley Pattern_____________________ Structure: X-A Leg: The initial downward movement. A-B Leg: A retracement of approximately 61.8% of the X-A leg. B-C Leg: A downward move retracing between 38.2% and 88.6% of the A-B leg. C-D Leg: The final upward movement, retracing 78.6% of the X-A leg, completing the pattern at point D. Entry Criteria: Entry Point: Enter a short (sell) position at point D, where the price is anticipated to reverse downward. This corresponds to the 78.6% Fibonacci retracement level of the X-A leg. Stop-Loss: Placement: Set a stop-loss order slightly above point X to limit potential losses if the pattern does not play out as expected. Take Profit: First Target: Place the initial take profit target at point B. Second Target: Set the second target at point C. Extended Targets: Consider holding a portion of the position for additional gains if the price continues to decline. _________________________Key Considerations__________________________ Precision: Accurate measurement of Fibonacci levels is critical. Even slight deviations can invalidate the pattern. Confirmation: Utilize additional technical indicators or price action signals to confirm the pattern before initiating a trade. This can include moving averages, trend lines, or oscillators. Risk Management: Adhere to strict risk management practices. This includes setting appropriate stop-loss levels and managing position sizes to protect capital. ____________________________Conclusion______________________________ The Gartley Harmonic Pattern is a sophisticated and reliable tool for identifying potential market reversals. By mastering the intricacies of both the bullish and bearish Gartley patterns, traders can enhance their analytical capabilities and improve trading outcomes. Integrating these patterns with other technical analysis methods and maintaining rigorous risk management protocols is essential for consistent trading success. Incorporating the Gartley pattern into your trading strategy involves practice and diligence. Ensure that you continuously refine your skills in identifying these patterns and executing trades accordingly, always mindful of market conditions and broader economic factors.Educationby trading_jupiter224
GBPUSD: Day 3 breakout traders long in the marketHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance ✅ Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 Friday DAY 3 Closing Range 2. SIGNAL DAY First Red Day First Green Day 3 Days Long Breakout ✅ 3 Days Short Breakout Inside Day 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside ✅ Backside 4. THESIS: Long: primary, today is Tuesday day 2, typically the market expands the range, Asia place a higher high and dumped down, starting consolidating, there a possibility to see a high low range extension for 100% at leat of the range. Short: secondary, price anyway is at the current HOW, it could give a short scalp HOW to LOW if setup correctly Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni Longby GianniPichicheroUpdated 221
interestingI am looking for some support around this entry then I'm going to longLongby FormedzeusUpdated 446
AUDUSD BUYHi fellow traders, AUDUSD is ready to make a move higher from the blue box after completing the correction. Target the 0.6751 level and move your stoploss to break even as soon as we reach the ‘Risk free zone’. Good luck and trade safe!Longby OGwavetraderUpdated 556
Euro can reach resistance level and then continue to declineHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price reached a resistance level, which coincided with the seller zone and even broke it, after which continues to grow. In a short time later it turned around and started to decline inside the downward channel, where the Euro soon broke the 1.0870 level again and fell to the 1.0725 support level, which coincided with the channel's support line with the buyer zone. Then price rebounded up to the seller zone, thereby exiting from the downward channel, but soon it turned around and made a downward impulse lower the support level, breaking it. After this movement, the price started to grow inside the upward channel, where soon price broke the support level again and continued to move up. Soon, EUR reached the resistance line of the channel and rose to the seller zone, exiting from the channel, but a not long time ago price turned around and declined to a lower 1.0870 level, breaking it one more time. In my opinion, the Euro can make the upward move to the resistance level and then rebound down. For this case, I set my target at 1.0760 points, which almost coincides with the support level. Please share this idea with your friends and click Boost 🚀 Shortby LegionQ8Updated 5567
EU SELL IDEAtrendline confirmation and candlestick pattern shows that EU is going to dropShortby DoctorForex27113
longlong on EURUSD. They did a breakout and a retest on the trendline. This will continue as long we make new higher highsLongby misternico112
USDJPYDear traders! USD/JPY remained on the weak side during the Asian session on Monday, weakened by recent cautious comments from BoJ policymakers and a broadly depreciated US dollar. The pair did not benefit from the modestly upbeat market mood as thin trading limited movement. In terms of medium and long term, I am personally still optimistic about the prospect of price increases when UJ has escaped the symmetrical triangle. According to statistics the strongest volatility is after a breakout, it is expected that if the upward momentum continues from the upper boundary of the rising wedge around 154.20 then the local high of 158.50 will be tested again with the aim of breaking rupture and strengthen further.Longby ConanForexUpdated 7718
USD/JPY Analysis: The Market is Indecisive Near Its PeakUSD/JPY Analysis: The Market is Indecisive Near Its Peak Since May 1 As the USD/JPY chart shows today: → The price is in an upward trend (indicated by the blue channel) that has been relevant since the beginning of 2024. → On Thursday, May 23, the exchange rate nearly reached 157.2 yen per US dollar, surpassing the peak of May 14. → Following this, the market began to stabilise – indicated by the Bollinger Bands' width showing low volatility, which can be interpreted as a sign of market equilibrium or indecision among participants. What balances the market? The equilibrium of supply and demand forces and the anticipation of important news in the week ahead. Bullish arguments: → The price has twice (shown by arrows) rebounded sharply from the median line of the upward channel. On both occasions, bulls managed to reverse aggressive declines in the USD/JPY price and return to the upper line. → The Bank of Japan's interest rates are much lower than those in the US. Judging by the latest US economic data, the Federal Reserve may maintain high rates for a longer period. Bearish arguments: → We do not see continued upward momentum in the price after surpassing the May 14 peak. Moreover, the USD/JPY price cannot sustain above the "round" level of 157.00. → The price is near the upper boundary of the channel, which could act as resistance. → It is important to note the levels of 160 and 157.9 in the background, from which the price fell sharply, indicating possible intervention by the Bank of Japan to support the excessively weak yen. Given that today is a holiday for financial institutions in the US and the UK, indecision may continue until tomorrow when Japan's inflation data is released at 8:00 GMT+3. Also noteworthy: → US GDP news will be published on Thursday at 15:30 GMT+3. → The US Personal Consumption Expenditures (PCE) index will be released on Friday at 15:30 GMT+3. These and other fundamental drivers may disrupt the current balance of the USD/JPY price, which still appears stable for now. Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen227
GBPCHFAnother switch down planned for the bear to have a turn...two targets again. Just like the others I've put out today. #CHFShortby elitetechfx-daily223
What Is Behavioural Finance?What Is Behavioural Finance? Behavioural finance is a field that combines the principles of psychology and economics to understand how human behaviour affects financial decisions and markets. It recognises that people are not always rational, and their emotions, biases, and cognitive errors can influence their financial choices. Behavioural finance is a growing field of study that continues to gain recognition and influence in the sector. Researchers study how people process information, how they form expectations, and how they react to market events. In this FXOpen article, we will consider the cornerstones of behavioural finance theory. Behavioural Finance Definition Let’s start with the behavioural finance theory. Behavioural finance is the study of how psychological factors, such as emotions and biases, impact financial decision-making and market outcomes. It seeks to explain why people often deviate from rationality when making financial decisions and how these deviations lead to market fluctuations. The emergence of behavioural finance can be traced back to the groundbreaking work of Daniel Kahneman and Amos Tversky in the 1970s. Today, big-name universities around the world continue to study the impact of different factors on decision-making in business, investing, and personal finance. Understanding Economic Behaviour and Psychology Behavioural finance recognises that economic behaviour is determined by more than rationality and self-interest. The study takes into account the following psychological factors: Emotional influence. Emotions like fear, greed, and overconfidence lead a person to make irrational choices, e.g. adding funds to a losing trade or changing take-profit targets to cover more gains. Behavioural financial biases. Many biases influence decision-making, for example, confirmation bias (favouring information that confirms pre-existing beliefs) and accessibility bias (overestimating the importance of readily available information). Cognitive errors. People are prone to cognitive errors, such as overestimating their abilities or relying on heuristics (mental shortcuts) instead of careful analysis. What Is Economic and Financial Heuristics? Heuristics is the process by which people use mental shortcuts and simple strategies to quickly form judgements and make decisions. In the context of behavioural finance, economic and financial heuristics refer to cognitive shortcuts that simplify financial decision-making. The most common of them include: Representativeness heuristic: judgments are based on similarity to a prototype or stereotype. For example, an investor may assume that a company with a well-known brand is a safer investment, even if there is no objective evidence to support this belief. Availability heuristic: judgments rely on the ease with which relevant examples or information come to mind. For example, an investor may invest in a particular industry if they recently read positive news about it, even if the overall market conditions are unfavourable. Anchoring heuristic: this involves individuals forming estimates by commencing from an initial value, often referred to as an "anchor." For example, an investor may anchor their price estimate for a stock based on its current market price, even if the fundamental factors suggest a different valuation. If you are interested in the topic of trading psychology and want to learn more, explore our blog. We’ve posted several related articles you may like. We are happy to provide our clients with valuable insights that could help them gain new skills and knowledge. Behavioural Finance Biases As we mentioned, behavioural finance recognises that investors can be irrational and that their decisions can be influenced by biases. Here are some of the potential biases: Self-attribution bias — traders attribute positive investment results to their own skills and blame negative results on external factors or bad luck. Confirmation bias — people pay close attention to information that supports a financial or investment belief and disregard whatever contradicts it. Framing bias — an investor reacts to a certain financial opportunity based on how it is presented. The way information is framed influences their choices. Loss aversion — the fear of losing money may become a more powerful inhibitor for an investor; if it is, they won’t take risks and may miss out on potential profits. Cognitive Errors Apart from behavioural biases in finance, there are inefficient decisions that could be partially the result of cognitive errors. Cognitive distortions are rigid errors in thinking that grossly misinterpret events in harmful or negative ways. These patterns are full of assumptions and incorrect logic, while real-world evidence does not back them up. The most common errors include: Filtering Polarisation Overgeneralisation Discounting the positive Hasty conclusions Catastrophising Everyone falls into cognitive distortions from time to time, but if you engage too frequently in negative thoughts, your mental health can take a hit. Emotional Reasoning Emotional reasoning refers to a cognitive mechanism through which a person arrives at the belief that their emotional reaction validates the truth of a statement or situation, even in the presence of contradictory evidence. Fear and greed are strong emotions that often drive people to make blind decisions. Fear can lead to panic selling during market downturns, while greed can lead to excessive risk-taking and speculative behaviour. How Does Investor Behaviour Differ? The frequent prejudices seen in investor behaviour are: Herding — when investors follow the crowd and base their actions on what others do (buy, hold, or sell). Overconfidence — when investors overestimate their abilities and believe they can consistently outperform the market. How Does Trader Behaviour Differ? Traders may be influenced by the following: Momentum trading — when they follow trends and buy or sell based on recent price movements rather than fundamental analysis. Overtrading — when traders engage in excessive buying and selling, driven by emotions like fear or greed. Confirmation bias — when traders overvalue their pre-existing beliefs and ignore contradictory evidence. Market Psychology Market psychology is based on the emotional factors that influence the decisions of participants in financial markets. People's behaviour is often driven by their perceptions, beliefs, and expectations about the market and the economy. They are influenced by news events, economic data, and geopolitical developments. Let’s consider three common examples of market inefficiencies explained by psychology: Market bubbles , when asset prices become detached from their underlying fundamentals, can be driven by herd behaviour and excessive optimism. Market crashes , when assets lose value for no particular reason, can be triggered by panic selling and fear. Market anomalies , such as the value premium or the momentum effect, suggest that investors deviate from rationality and create opportunities for profit. These anomalies cannot be explained by traditional studies but can be justified by behavioural finance theories. Final Thoughts In recent years, this field has gained momentum; for example, scientists exploring the impact of the COVID-19 pandemic and the development of online services that influence consumer preferences. As this field evolves, it’s likely to have a significant impact on the way we think about investing and managing risk. Technical analysis indicators may help traders overcome behavioural finance bias and base their decisions on price data and effective indicators and patterns that have been used by traders for years. To try them, you can use the FXOpen TickTrader platform. If you are ready to start trading, you can open an FXOpen account. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.Educationby FXOpen227
GBPJPY Analysis - Selling OpportunityGBPJPY Analysis - Selling Opportunity Open: 200.30 SL: 201.30 TP: 189.50Shortby ahmedqotb198113
EURUSD VISION 27/05 Hello everyone, Last Monday, the order block I was planning to buy didn't react as I'd hoped. But I'm still a buyer, given the trend. So here's my view of the next few days for EURUSD. Taking cash at 1.08050. Back in the OTE zone. Reaction on Order Block H4 If the order block reacts correctly this time, then I'll possibly take a buy on it. The level to aim for is 1.09410, where there is a lot of liquidity. Feel free to subscribe and boost this post if you enjoyed my analysis, and let me know what you think! Happy trading and a great week :) Longby InfiniteY12
✅GBP/JPY: Identifying a Reversal Following a Strong Absorption❤️Dear All, This our idea for sell once sell candle Confirm then only we go short this is my ideas only. what you flow your trading statistics you can continue❤️❤️❤️Shortby ICFinanceLTD116
✅USD_CAD GROWTH AHEAD|LONG🚀 ✅USD_CAD is trading in an uptrend Along the rising support line Which makes me bullish biased And the pair is about to retest the rising support Thus, a rebound and a move up is expected With the target of retesting the level above at 1.3672 LONG🚀 ✅Like and subscribe to never miss a new idea!✅Longby ProSignalsFx11
USDJPY: Your Trading Plan For This Week 🇺🇸🇯🇵 USDJPY broke and closed above a key horizontal daily resistance last week. After a breakout, the market retested a broken structure and started to consolidate. I see a horizontal trading range on a 4h time frame. To buy the market with a confirmation, I am looking for a bullish breakout - a candle close above the resistance of the range. It will give me a strong intraday signal. A bullish continuation will be expected at least to 157.5 level then. ❤️Please, support my work with like, thank you!❤️ Longby VasilyTrader118
If GBPUSD holds above the 1.2700 area, more growth is expectedIf GBPUSD holds above the 1.2700 area, more growth is expected From our previous analysis, the price went up well and the bullish wave was almost 260 pips. So far GBPUSD is pausing before the uptrend resumes again. After the price broke out from a strong area above 1.2700 it looks like the bulls are still holding strong. Chances are higher that if the bulls don't give up this is the moment we could see GBPUSD move higher over the next few days. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️ Longby KlejdiCuniUpdated 5514