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tradetheday

Hello Fellow Trader! The US500 and Nasdaq continued their falls and finishing in the red on Friday. The ASX200 also had two consecutive lower low days breaking slicing below 6000 to finish the week also in the red. We could see slight recovery back into the 6000 which is key for the advance, or rejection indicating falls the ASX200 has not seen since June....

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Hello Fellow Trader! AUD/USD Daily chart forming a flag consolidation at the trend line indicating possible short-term fall. Scenario 1: Consolidation touched both 50 and 61.8% of Fibonacci which was respected and fell. Now we can look at the continuation fall from current price. Scenario 2: IF bounces and finds strength to the upside, we can expect the AUD/USD...

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Hello Fellow Trader! 4 - hour time frame showing lower lows made on the USD/CAD which possible zone to fill at 1.31140. Flag pattern possibly trapping long retail plays with high probabilities for downside pressure. Holding below 50 EMA, 200 EMA on both 4 hour and 15 minute time frames. Key Points: - Price holding below the 200 EMA - Price hugging below the 50...

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Hello Fellow Trader! Daily chart showcasing major support at 135.500 from historical points of resistance and now support. GBP/JPY sideways trending since the 10th of September in a tight range with what looks to be a stop hunt spew below, and full recovery back within the base. The great thing about these bases are the entry and exits are defined. Entry at the...

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Hello Fellow Trader! Silver ranged between $26 and $31 in January 2011, then rose for 3 months straight appreciating 76.5%. Silver currently sitting between $26 and $30 during an era filled with uncertainty and risk. Key metrics to consider is Gold has broken its All Time Highs, while silver has yet to even test these levels. Key Points: - Price holding above...

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Hello Fellow Trader! Price breaking below daily pattern trend line and if held, could commence the exit sell down to levels we have not seen since June. AUD/JPY is at a critical zone to determine its fate. This week Japan announced Yoshihide Suga as their official Prime Minister, and US retail data overnight weakened supporting the Nasdaq and SPX drops. Key...

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Hello Fellow Trader! These types of trades have two scenarios. 1. Is BTC/USD over price and going to find the median with ETH 2. Is ETH/USD undervalued and going to appreciate with BTC With the way the current structure is forming, the view is ETH is undervalued in this case and upside is higher probable. Key Points: - Caution - Price holding below the 200...

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Hello Fellow Trader! Historical resistance could now be current support at 1.18280 zone, where we must hawk any type of bullish candle reversal or price behaviour for upside entry. EUR/USD also has a 50% Fibonacci cluster at this zone providing further confirmation for support. Key Points: - Price holding above the 200 EMA - Price holding below the 50 EMA - 50%...

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Hello Fellow Trader! Oil has been sold down quite hard from August highs giving back 17% in 13 trading days. Wedge patterns are generally a sign of trend continuation when broken to the downside, and when found within bearish momentum trends, can become quite potent. Key Points: - Daily Chart – Showcasing the major support and resistance levels - Price holding...

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Hello Fellow Traders! Trend line set back in August through September intact and respected. Indicator and signals clustering pointing to upside before any major falls. Key Points: - Price holding above the 200 EMA - Price holding above the 50 EMA - Price sitting on 200 EMA clusters with 50% Fibonacci as support - RSI approaching 50 mid-point and has room to...

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Hello Fellow Trader! Gold (XAU/USD) has been compressing into a wedge directly above the previous all time high, which was broken after 9 years in August 2020. The APEX of the wedge is fast approaching as traders and investors patiently await for the continuation break out. Wedge patterns are generally a sign of trend continuation when broken to the upside, and...

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Hello Fellow Trader! Friday’s economic data showcased US inflation back on track at 1.3% YoY, but slightly weaker on the month at 0.4%. (Previous month 0.6%). For the USD/CAD, we could see a short term drop to 1.31500 before the next rise as the Canadian dollar looks to shadow the Oil drop. Key Points: - Price holding above the 200 EMA - Currently price...

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Hello Fellow Traders! AUD/USD in a correction channel approaching a level of distribution. There is every chance that the gold price will rise and meet the AUD median, but there are many signs here suggesting the AUD sell down to meet with the gold fall. Key Points: - 1 Hour – Price sitting at the 200 EMA - 1 Hour – Looking for candle reversal signals - 15...

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Hello Fellow Traders! GBP/USD has dropped 700 pips in September reaching its Weekly Average Daily Range (ADR) volatility scale. With the RSI diverting at the lower low and 1.28150 level tested, any signs of bullish candle sentiment may present a great reward to risk ratio trade. Key Points: - Price at 50% Fibonacci of last range - RSI Divergence at lower...

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Hello Fellow Traders! Indices experienced slight recovery last night with SPX (US500) up 2%, Nasdaq up 2.94%, UK100 up 1.39% and DAX 2.07% The SPX (US500) has broken pre Covid highs aided by the US tech sector, while the broader market has struggled to test related levels. The DAX has positioned itself for an advance to reclaim historical levels. Caution:...

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Hello Fellow Trader! The DXY has strengthened this week due to money pouring out of equity markets seeking safer yields. The consensus for EURs interest rate decision today is no change but the ECBs monetary policy press conference will help paint the picture on the fate of EUR/USD. As short-term traders, achieving at least 45-50% win rate is a standard...

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Desired reward to risk ratio - Must be quick and keep the stops tight! Key Points: - Price holding below the 200 EMA - Attempt to break 50 EMA - 61.8% Fibonacci retracement of current range - RSI could break trend and range simultaneously for momentum - Desired Reward to Risk ratio Key Levels: Support – 115.185, 115.400, 114.625, 50 EMA Resistance – 114.62,...

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Hello Fellow Trader! GBP/CAD found solid support at 1.71320 from June’s old resistance. Short term trade has superior reward to risk ratio if optimal entry is obtained. Caution: We are below the 200 and 50 EMA which will present price resistance once tested and this is a counter trend trade meaning our risk should not be adjusted. If failed, re access for entry....