Charts247TradingAcademy

05:20

Charts247TradingAcademy

The GBPUSD has stabilised after a significant downward move. A completed bullish wave structure has emerged, with Wave 4 failing to break above Wave 3. This indicates a potential buying opportunity from the Fibonacci buy zone. On the 15-minute chart, we can consider going long using the MSL pattern (Lower Low, Low of Day, Higher Low & Higher Close) as a...

11:32

Charts247TradingAcademy

With the Bank of Canada (BoC) interest rate decision approaching, we analyse USDCAD and CADJPY using the Daily and H1 timeframes to uncover potential trading opportunities. Market Outlook: CADJPY: The overall market structure appears bearish following a completed wave pattern and a corrective wave. We anticipate further downside movement, signalling potential...

04:30

Charts247TradingAcademy Updated 

The overall trend on the major timeframes for CADJPY remains bullish, despite a breakdown continuation observed last week. Current Market Overview: The lower timeframe (M5) printed a bullish wave structure this morning. We anticipate a corrective move below 105.76. In the short term, a potential downside reversal is expected. Trade Setup: Look for shorting...

08:20

Charts247TradingAcademy Updated 

Hi traders, The focus today is on CADJPY during the pre-London session. I believe we have a bullish setup forming, often referred to as a Late Session Reversal or Late Day Reversal. Price Analysis The bullish move in CADJPY began late during the New York session yesterday. The overall trend has been bearish, with the last leg showing a 3-wave extension below...

16:12

Charts247TradingAcademy

Introduction In trading education, recognising price movements is crucial. Prices move in trends, and these trends move in waves. Understanding these waves is essential for successful trading. The Two Types of Waves Impulsive/Primary Trend Comprises a minimum of five waves. Dictates the overall direction of price movement. Corrective/Secondary Trend...

17:05

Charts247TradingAcademy

Hello Traders, Starting off early today with a big shout out to @TradingView for their continuous improvements to the platform and the valuable tools they provide to the trading community. Well done! Here’s my analysis for today: USDJPY H4 The USDJPY has formed a Momentum Low, signalling a potential trend reset. The underlying trend remains bullish on this...

08:57

Charts247TradingAcademy

Hi Traders, Here’s a quick market analysis for the London session. We’ve observed some notable movements in the currency pairs under review. As a quick recap from our weekly trade planning session (Portfolio Selection): Strong currencies: USD remains the leader, followed by JPY, CAD, CHF, and AUD. Weak currencies: EUR, NZD, and GBP. The USD's bullish momentum...

10:00

Charts247TradingAcademy

Hey Guys, Today, we are trading the CADJPY live. Earlier this week, I highlighted 110.48 as a critical level to monitor, as it marks the reset point (Structure 4) of the last completed H1 bearish wave structure. Key levels of interest for further downside movement: 109.56 109.06

09:28

Charts247TradingAcademy

Join me for the Midweek Portfolio Selection, where we analyse the Weekly and Daily Currency Strength Index (CSI) to identify shifts in the currency landscape. This process helps refine our trading bias to stay aligned with market dynamics. In this episode, we’ve observed notable changes, particularly in the AUD and USD. Key Highlights: Buy Pairs: AUD, CAD, JPY,...

11:13

Charts247TradingAcademy

This evening, my focus is on the CADJPY H1 timeframe. We have identified a completed bearish wave structure on the H1 timeframe. Earlier this afternoon, during the New York session, a trend reset was observed, breaking above the last Structure 4. From this point, based on wave structure anatomy, we anticipate selling interest to initiate a new bearish wave...

05:08

Charts247TradingAcademy

The AUDUSD offered an excellent entry point at 0.6450. Meanwhile, the USDJPY is performing as anticipated, and we expect a continuation in these pairs.

10:48

Charts247TradingAcademy

This morning during the London session, my primary focus is on the USDJPY. We anticipate a momentum low developing below the current price level. Additionally, the AUDUSD has flagged a potential buying opportunity around the 0.6450 level. The EURUSD and GBPUSD (Cable) are also showing potential for bullish moves; however, their price structures are currently...

18:44

Charts247TradingAcademy

Today's trade planning session highlighted the USD as the strongest currency on the daily Currency Strength Index (CSI), while the EUR emerged as the weakest. General CSI Overview: Buy pairs: USD, CHF, GBP, JPY, AUD Sell pairs: CAD, NZD, EUR In our H1 timeframe market analysis, we anticipate a deeper correction in existing trends. The wave structure for major...

04:57

Charts247TradingAcademy

Following the low established on Wednesday, 6th November 2024, we have observed a completed bullish wave structure. Subsequently, the price traded the low at 1.0682, forming a bearish completed wave pattern. Based on this price information, a bullish phase is anticipated in the next movement. We are entering a buy position, anticipating increased buying momentum...

14:46

Charts247TradingAcademy

Hi Traders, Here's a summary of the week so far for USD/JPY and GBP/USD. This week has been packed with economic data releases. Earlier today, the Bank of Japan kept interest rates unchanged but expressed optimism about improvements in the broader Japanese economy. The overall trend for USD/JPY remains bearish, and we anticipate this to persist into the coming...

06:33

Charts247TradingAcademy

The reaction of GBPUSD to the Bank of England's interest rate decision has been fairly muted. In the short term, we're looking for selling opportunities, aiming for a deeper reversal towards the 1.3146 level. Key levels to watch: Target 1: 1.3146 If price breaks below 1.3146, the next target is 1.3000. Stop-loss recommendations: Technical Stop:...

14:33

Charts247TradingAcademy

Hi Traders, Following yesterday's USD news, the Federal Reserve has reduced the interest rate by 0.25%. It seems the market has already absorbed this news, and our attention shifts back to the USDJPY pair. On Tuesday, my analysis showed a price break above the H4 structure. According to this structure, we can anticipate a continuation of the overall downtrend....

19:39

Charts247TradingAcademy

This is a live execution of USD/JPY trade, demonstrating how to successfully execute a counter-trend strategy. This trade was all about understanding the market phases and recognizing the trend reversal at the right moment. To pull off a counter-trend trade, you need more than just technical skills—you need a solid grasp of trading psychology. Staying patient,...