The price is moving from the resistance zone that was around $90. The market has driven the price down to the upward trendline. This trendline is supported by the weekly demand zone, which is very close to the monthly buy zone. Although there is a risk on the daily chart of closing the gap down to $48.80, I believe this is a good opportunity to take a buy position.
After the upper trendline breakout, there is an opportunity to look for an entry buy position
After the upper trendline breakout, there is an opportunity to look for an entry buy position
The GBPAUD currency pair is beginning to form a structure for further decline. The downward trend seems to have solidified well. The previous major volume zone in the uptrend did not prove itself and was breached. As a result, this leads me to consider further potential downward trend. It seems logical to wait until the price returns to a better entry point, where...
The price is currently forming a retracement towards the Day's supply zone. There's a chance for a buying retracement from the 4-hour zone, coinciding with the Daily zone. If an acceptable structure forms, with a breakout on a lower timeframe, it's worth attempting to trade it, with a stop loss at 2300 and take profit at previous highs.
"Quick glimpse into one of many scenarios. Image for future me."
The current price is near a larger timeframe zone/trendline, increasing the risk of illogical fluctuations where larger market participants may accumulate their positions. Whether the price will move up or down will be revealed over time. Analyzing the chart, there is a sense that there is a probability of reaching the weekly candle zone (which also seems logical)...
A random idea about how the future trend might form. Primarily, to execute a trade, I search for pre-existing breakout scenarios, but occasionally, I also enjoy envisioning how the price could shape future scenarios. :)
I do not rule out the possibility of further shorting. This is one scenario of how the price can play out, based on the weekly demand zone that the price needs to pass through. The last selloff broke through the previous low, indicating that sellers are still active. For this scenario to be tradable, the price after the next short move should not establish new...
Filling the USDJPY price gap. The price is in the Daily S&D zone, which could help push the price towards Friday's highs.
An opportunity with a 72% probability of a rebound to the price zone 1.3466/76. Based on the Supply and Demand zones, previous new lows, breaking out of the demand zone, and today's high ATR above the previous 5-day average. I don't think that this place will be a trend change point, but more like a rebound where you can earn around 50-70 pips.
Buy option with 80% probability of a rebound to the price zone 0.6920/00. Based on Supply and Demand daily and h4 tf zones. In addition, the price will be based on up trendline and Weekly camarilla pivots. I don't think this place will be a trend change point, but more like a rebound where you can earn around 100 pips. I will be buying, when the price enters the zone.
USDJPY, like USDX and other correlating pairs, forms a base for a rally or further decline. If the USD goes up, I think it could happen quickly. The overall market willingness to buy back the price seems quite optimistic, but the downward trendline is very strong. Until the trendline is broken, the uptrend is not worth thinking about.
I have been following USDCAD for some time to understand what will happen with the Daily demand zone. It has been tested several times and it is starting to look like the price does not want to climb back up, at least not from this price zone. What are your thoughts?
The USD index has been in the demand zone for some time, but it cannot break out. In my opinion, the price wants to continue its path down a little more before it starts to form a new short-term uptrend.
The UK 100 index is making a correction. The price has the potential to break the trend line and continue to new highs. Or does it want to reach the daily resistance zone?