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Wallstreetacademy

GBPAUD LONG BIASGBPAUD LONG BIAS REASONS: -THIS MONTHS CANDLESTICK IS BULLISH CURRENTLY -Monthly Timeframe is still in an uptrend -Weekly Timeframe is bullsih - Daily Timeframe is bullish - Lower Timeframes are correlates with higher timeframes -PRICE RETRACED AT 78.6% and previous bullish candle closed at 38.2% Comment and lets unpack this together ! My Purpose: I am executing projections and trades that create generational wealth for myself and others. Sidenote: Learning & Applying PRICE ACTION is key. Learning & Applying PSYCHOLOGY is the lock on the door !
Long
by SpacePharaoh4D
USDJPY LONG biasREASONS: -Monthly , Weekly & Daily candlesticks all are Bullish currently -LOWER TIMEFRAME Correlates with Higher Timeframes. -ON the 1HR Timeframe price retraced to 61.8% and a bullish candlestick closed at 38.2% , meaning there are more buyers in the market currently My Purpose: I am executing projections and trades that create generational wealth for myself and others. Sidenote: Learning & Applying PRICE ACTION is key. Learning & Applying PSYCHOLOGY is the lock on the door !
Long
by SpacePharaoh4D
1
American Dreamers or the Intelligent Japanese? USDJPY has been an interesting pair to watch this year and here is another opportunity to take advantage of the volatility of this pair. I will just be going into the technicals for this trade. If you want fundamental information visit www.investing.com they have great fundamentals with great breakdowns. TECHNICALS - The Market on Friday's close was on the level i identified as weekly support (109.300) looking at chart patterns from two months ago, we noticed that this level is extremely difficult to break and close below thus making it a level prone to reversals, and so far this has occurred. -Daily Resistance (111.011) is our first target as this is the first level the market will face which could prove to be a little bit of a challenge as the market proceeds with its bull movement, so i would suggest profits are secured here. -Resistance Region (111.774) is labelled this as the market can find itself caught in a brief consolidation between Daily Resistance and this level, we may encounter a retrace here as history has proven, although this shouldn't cause a big scare, keep your positions open but make sure profits have been locked before the market enters here. -And our last target is Secondary Resistance (112.391) it should take near 2 weeks to play out so, patience will be key and your mental stability will be tested, in the past again the market does enjoy stalling here, once where are this high up we want to secured our profits and run. Greed, Overconfidence and lack of patience will be tested in this trade, you will need to overcome greed when you notice that you are in a large profit, do not add more positions that you can not afford to lose, Overconfidence with this trade will make you want to enter positions with other currency pairs without doing the correct analysis, thus will cause you to make silly errors. And finally this trade will take time to play out properly, you will feel as if the market is going no where, that happens, the market is not always going to move, they may be long periods on consolidation but once it is broken strong movements will occur and you will wish you had stayed in the trade.
Long
by SSigenu
2