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Showing posts from April, 2020

EURCHF: Potential Gartley Formation

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By VasilyTrader  Potential harmonic gartley pattern on EURCHF 4H chart. The price is forming a D point right now. Our buy zone is between 1.052 - 1.051 Stop - 1.0498 Targets - 1.055/1.058 Good Luck!

USD/JPY is Trading below Support

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By Deya Hroob Our trade set up was triggered today as we stated in last analysis USD/JPY is Facing Stiff Resistance . The price broke the support line of the descending triangle and is currently retesting the broken support which is a good opportunity to sell again. Our trade set up is :  SELL at current price First target 106.50  Second target 106 Stop loss 107.10 Good luck!

USDCHF: Potential Bearish Gartley Pattern

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By VasilyTrader  Deep gartley pattern is forming on USD/CHF . Pattern completion point matches perfectly with a key daily resistance. What I like about this gartley formation is that even if you don't trade harmonic patterns , entry for the pattern is also a good swing trade/structure-based opportunity. I will sell the market from 0.988 level with stop 0.9946 Target levels will be 0.9736 / 0.9648  Good luck!

EURNZD: Multi Time Frame Analysis & Trading Plan

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By VasilyTrader  EURNZD on a very important structure level 1.785. The price has already bounced two times from that level so it is absolutely normal two expect the third bounce. However, because the current sentiment is predominantly bearish we should always be prepared for a bearish breakout. Here is your trading plan for both scenarios: Bullish -  4H divergence on RSI makes me think that the price may still retrace. 1.7925 - 1.785 is our decision range.  I will buy the pair in case of a bullish breakout of the range (1H candle close above) with the initial target - 1.801 and the second targe 1.81 stop below the lower low within the range Bearish- wait for a bearish breakout of an underlined support on 4H (4H candle close). aim at 1.769 stop above the range Let the market make the decision and then just follow!  Good luck!

NEO/USD: Bearish Flag Time to Sell

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By Deya Hroob NEO/USD is trading at a strong structure. The price has been rejected from moving averages The pair is trading in a bear flag  The chart above displays a bearish flag pattern being created on the NEO/USD daily chart. You can also notice how NEO got rejected from 100-day EMA today.   How to trade the bear flag pattern?  Traders have two options: You can short the pair at top of flag ( the upper line ) OR you can wait a breakout the lower line and short it. This trade setup will be invalided if price penetrates the upper line.   Good luck!

Ethereum is Trading Inside an Ascending Channel

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By Deya Hroob This trade setup is based on daily chart. ETH/USD is currently trading in an ascending channel. How to trade this kind of channel? When prices hit the LOWER trend line, this may be used as a buying area. Put stop loss below the lower trend line. When prices hit the UPPER trend line, this may be used as a selling area. Put stop loss above the upper trend line. If you are a kind of trader who loves to trade breakout, you should wait a breakout to happen.  Simply, put a buy order above the upper line or a sell order below the lower line. Our trades will be more reliable if we have a closed candle above/below both lines. Good Luck,  

USD/JPY is Facing Stiff Resistance

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By Deya Hroob This post is a follow up to a previous post  USD/JPY is Trading in a Descending Triangle This trade idea is based on 4h chart. As the chart shows USD/JPY is trading under major moving averages. The moving averages and the upper line of the descending triangle make it hard for the pair to rise. The area between 108 and 108.15 is stiff resistance. On the downside the 106.90 is good support. We are looking for breaking this support to open short positions .  aggressive traders can also sell when price touch the upper line   This trade setup will be invalided if price penetrates the upper line.   GOOD Luck! 

AUD/USD is Forming a Bullish Flag

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By Deya Hroob  This trade is based on 4h chart. AUD/USD is currently trading in a bullish flag. It's a continuation pattern. To confirm this pattern, price needs a break above the upper line. Our first target will be 0.6440  Good luck!

AUDCHF: Structure Based Trading Plan

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By VasilyTrader  AUDCHF has reached the first strong resistance after a bullish rally from 0.535. Important clues to consider on daily: overbought rsi bearish engulfing candle On 4H the pair is forming a bearish triangle with a sequence of lower highs. we need 0.607 support to be broken (4H candle close below) to short the pair. Target levels: 0.597 0.585 Stop will be placed above the last lower high of the triangle. If the market violates the triangle to the upside, setup will be invalid. 

GBP/USD is Forming a Rising Wedge!

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By Deya Hroob This trade is based on 4h chart. GBP/USD is trading within a rising wedge. It's a reversal pattern. To confirm this pattern we need a bearish breakout down the support line. Sellers should short the pair on a closed candle below the support line with first target 1.24 . aggressive traders can also sell when price touch the upper line. Our trade setup will be invalided if price breaks out the upper line.    Good luck!

USD/JPY is Trading in a Descending Triangle

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By Deya Hroob This trade is based on 4h chart.   USD/JPY is forming a descending triangle. Most of the time the price will eventually break the support line and continue to fall, but who knows maybe the opposite will happen. You just need a breakout above the upper line or down the support line and act accordingly.  In this case, we would place entry orders above the upper line with target 109.30   and below the support line with target 106 .

GBPUSD: Two Scenarios For Next Week!

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By VasilyTrader Its the update for my previous post on GBP/USD. On Friday we have not seen any strong movement and for now, it is clear that the pair is stuck in consolidation: from Thursday the pair is trading within 1.252 - 1.242 and market participants are waiting for some trigger. Next week pay attention to a breakout of the range. In case of a bullish breakout, the market will most likely continue a bullish rally following the current bullish trend . we will aim at the retest of the current high - 1.263 In case of a bearish breakout, the market may go lower and we will aim at 1.232 Let the market decide its direction and then just follow! I am still long-biased here based on the previous price action. but who knows... Good luck and have a great weekend!

GBPUSD: Trading Plan For Today

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By VasilyTrader  GBP/USD is still trading on a key level. On 1H the market is currently completing the right shoulder of a head and shoulders pattern. 1.252 is the neckline.  I will buy the breakout of the neckline expecting a continuation to 1.26 Stop will be below the COMPLETED right shoulder. p.s in case of a violation of a head level, setup will be invalid

CRUDE OIL (WTI) KEY HISTORICAL LEVELS

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 By VasilyTrader We dropped again! wow! If you followed my plan from the previous video, you should avoid losses! after consolidation on 4h short rally continues. here are the historical levels to pay attention to: 17.2 - 2001's low 13.8 - 1994's low 10.5 - 1998's low Good luck!

Gold Trading Plan: Head and Shoulders Pattern

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By Deya Hroob  This trade set up is based on 1h chart XAU/USD formed a well-known reversal pattern  Head and Shoulders. To trade such a pattern, we should put a short order below the neckline. ( We need a closed candle below the neckline).  Our target is 1675 with stop loss above the neckline.

SILVER (XAGUSD) Trading Plan

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By VasilyTrader Silver is breaking below a major trendline on 4H. Because for quite a while the market remains very very bullish I am looking for additional confirmation on 1H chart. there we see a completed head and shoulders pattern and at the moment the price is approaching a neckline. your plan is the following: wait for a bearish breakout of a neckline, sell aggressively or on pullback! aim at 15.07/14.9 as your targets. good luck!

EUR/USD Is Trading In a Rising Wedge!

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By Deya Hroob  On 4h chart EUR/USD is trading in a rising wedge. This is a bearish pattern. To trade a rising wedge , you have to wait the price to break down the support line and short the pair. ( remember we need a closed candle below the support line). You can also trade the retest of the broken support line. Our first target 1.090  Good luck!

USDCAD: Breakout Trade For Next Week!

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By VasilyTrader    Potential Breakout Trade On USDCAD . 1.395 - current horizontal structure support on focus: 1. Wait for a bearish breakout (4H candle close below the underlined area) 2. Sell on a pullback with sell limit 3. Goal - 1.37 4. Stop - 1.4115 R/R 1.5 good luck! 

US Dollar Trading Plan: EUR/USD, USD/JPY, GBP/USD

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By Deya Hroob All trading set up are based on 4h charts! EUR/USD is Trading Between Moving Averages. EUR/USD is trading under resistance from 200 moving averages and resistance line. To open long we need to undertake these resistance. Open long position on a close candle above 109.70   First target 110.40, then 111.45 On the downside, 109.20 level is the first support. We can also buy at this level unless it's broken. ( remember our trading set up depends on closing  candles, you have to wait until candles close. Don't rush in trades :) Our buying set up will be invalided  if the pair breaks 109.20 level. USD/JPY Broke out The Triangle Pattern  Our last recommendation on USD/JPY is still valid. After the breakout, the price has retested the broken support ( which now becomes resistance) numerous times .  Trading the retest of key levels in the market can be an extremely simple yet powerfully effective trading strategy. GBP/USD is Tradi

CRUDE OIL (WTI) Potential Harmonic Trade

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 By VasilyTrader Potential harmonic bat pattern is forming on WTI. What I like about this pattern is that its D point is lying perfectly on the current structure low = strong support. our buy zone is between 19.2 - 20.3 from this area, we will expect a pullback to at least 23.0 / 25.3 levels safest stop: 18.15 p.s harmonic bat formations have a 55% accuracy. risk no more than 1% for these trades.  Good luck!

USDJPY Trading Plan: Bearish Traingle Breakout

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By Deya Hroob  USDJPY 4h chart  has broken out the support level. It's a bearish signal. What we see in the chart is a retest of the broken support, It's a perfect way to catch the second leg down. Moreover, the pair is trading below the moving averages which behave as resistance. Open short from current level with stop loss above the the resistance line. First target 108.00 Good luck,

GBPUSD Trading Plan: Price near Resistance

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By Deya Hroob This trading idea based on 4h chart.  GBPUSD is trading now near strong resistance. It's also on an uptrendline. You can initiate long position when price penetrates the resistance level. ( It's better to wait a closing candle above this level).   Our set up will be invalided if price break down the trendline. Good luck!  

USDCHF: Bearish Breakout & Continuation

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By VasilyTrader     Bearish breakout of a horizontal flag formation on USDCHF . the breakout is considered to be confirmed and now I expect bearish continuation. Next goal for sellers is 0.964 level adjust your trading plan accordingly!

EURNZD Trading Plan

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By VasilyTrader  EURNZD has reached key structure support! on 1H the price is coiling within a decision range. I want to catch a pullback from the underlined structure. To do that I am waiting for a 1.8095 minor resistance to be broken. then I will buy the pair on a pullback! initial target will be 1.8195 stop - 1.8015 In case of a bearish breakout of the range, setup will be invalid! Good luck!

GBPUSD: YOUR TRADING PLAN FOR TODAY

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By VasilyTrader  If you still don't have an active position on gbpusd here is the perfect opportunity to catch a selling rally. On 1H the pair has formed a head and shoulders formation and the last thing that we are looking for is the breakout of the neckline. As soon as the 1H candle closes below the underlined support, I will sell the pair on a pullback with sell limit, expecting a bearish continuation to 1.223 / 1.2165 stop will be 1.236 If the market goes above the head, setup will be invalid.  Good luck!

NZDCHF Classic Breakout & Bullish Forecast

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By VasilyTrader Confirmed structure breakout on NZD/CHF .  After a breakout, we see the retest of the broken structure with a positive bullish reaction. now I believe that the price will go higher! key target levels: 0.591 0.600  Good luck!

XAU/USD: Trading Idea For Gold

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By Deya Hroob Our trading idea is based on 4h chart.  Gold is currently trading on a support level, besides, it's on a trend line. You can open long positions at this level with stop loss below the support line.( It's better to trade on a close candles) First target $1675, thereafter  $1700 Good luck,     

EURGBP: Top-Down Analysis & Trading Plan

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By VasilyTrader  These next few days pay close attention to EURGBP pair. the market has recently reached key daily support and we see a clear unwillingness of sellers to push lower. on 1H the pair is currently forming the right shoulder of a head and shoulders pattern, I want the neckline to be broken to the upside to buy the market. my initial target will be 0.896 safest stop 0.8775 let's see how it unfolds :)

NZDCAD: Potential Harmonic Cypher Pattern

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By VasilyTrader  Potential harmonic cypher pattern is forming on NZDCAD . I have a sell limit - 0.8525 Stop - 0.858 T1 - 0.8455 T2 - 0.8382 P.S It does not mean that we should buy now, we trade the pattern if only it reaches the "D" point!

EURNZD: Potential Breakout Trade

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By VasilyTrader   Today pay close attention to horizontal support on EUR/NZD . the market keeps setting new lower highs and with each wave, the market contracts more and more on a structure. to not be caught by a false breakout, wait at least for a 4H candle close below the underlined area. then sell on pullback expecting a continuation to 1.8 good luck!

USDCHF: Trading Plan For This Week

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By VasilyTrader  USDCHF is quite close to a key daily resistance. on 4H the price is steadily growing within a rising wedge pattern. Our trading plan will be the following: 1. Follow the market within the wedge pattern until it reached the potential reversal zone 2. Wait and sell the breakout of the support of the wedge 3. For initial target, aim at 0.975 4. Place you stop above the highest point of the wedge In case of a preliminary breakout better just skip the trade. If bulls break above the resistance, setup will be invalid and bias switches to bullish . good luck!

How to trade NEO

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By Deya Hroob . Neo is now at strong resistance. . Neo is making higher lows.  . Neo is at a decision point now.    Buy at $7.50   first target $8.50, then $10 Sell at break down the trend line  with target $4  Good luck!    

BITCOIN Price Trades in Triangle Between Support and Resistance

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By Yuri Moiseev        Reasons: - Price now trades in 4th correction wave - Price trades in Local Uptrend - Price trades in small Triangle - Price trades between Resistance and Support Levels - Current Support Level is 6650 $ - Current Resistance Level is 6950 $ - Price can create 5th wave upward if will break Resistance level 6950 $ - To open long after breakout of resistance level - Always do your own research before opening positions and always put SL     Bitcoin Price Chart Source: CoinGecko

XAU/USD price trades in Triangle near Resistance Level

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By Yuri Moiseev Reasons: - Price trades in Triangle - Price near resistance level 1640 $ - I think price can break that triangle upward - To open long when price will break resistance level - Always do your own research before opening positions and always put SL

EURUSD: Planning Long Entries For Next Week!

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By VasilyTrader On EURUSD chart we see a perfect example of how a trader can variate a risk: we have three perfect entry levels for long trade: 1.08 level - current structure (previous low) 1.07 level - current structure low 1.06 level - support of the major channel 1.06 level gives the safest long entry with a very tight stop and high potential reward. historical perspective is on our side here, and we see that after each test of the channel's support in the past, we saw a strong rally to the upside. 1.07 level is a moderate entry from a current structure low. here we play as a skeptic, not believing that the market is willing to push below the current low. 1.08 levels is an aggressive entry. here we assume that the market is way oversold already, and even if the current lows are close enough, bears are already exhausted. I am suggesting enter at least from 1.07 level but only after a good signal or try to catch the market from the support of the channel!

EUR/USD price trades in Downward Channel near Support Level

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By Yuri Moiseev         Price trades in Downward Channel.   Price near support level 1.0830.   Current resistance level 1.0955.   To open long only after fake breakout of support level or other confirmation.   Always do your own research before opening positions and always put SL.

AUDNZD: Potential Breakout Trade

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By VasilyTrader   AUDNZD tests a key structure resistance one more time this week. once again being rejected, it looks like chances are high that the market will soon return to its long term bearish trend . for confirmation, I will be waiting for a bearish breakout of a rising trendline on 4H chart (we need at least 4h candle close below) then we can short the pair expecting a continuation to 1.016 / 1.004 in case of respect of trendline and new higher high higher close, the setup will be invalid and bias switches to bullish .

Trading Plan: USDCAD: FOCUS ON BREAKOUT

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By VasilyTrader  USDCAD is stuck between two trendlines .      with a sequence of a lower high and higher lows it is too risky to trade from current prices. the market is waiting for a trigger and the best strategy right now is to wait. look for a 4h candle close above a falling trendline to buy the market with targets 1.441 / 1.461 stop below the last higher low look for a 4h candle close below a rising trendline to sell the market with targets 1.398 / 1.381 stob above the last lower high good luck!