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Showing posts from May, 2023

XAUUSD MARKET ANALYSIS

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  Good morning traders and welcome to another week full of opportunities in the markets and it is our responsibility as traders to take advantage of them. This week started slow with major bank holidays on Monday but markets started moving swiftly on Tuesday and today. Into the charts today I'm looking at XAUUSD where price dropped into a major H4 & daily demand zone at 1954.52 & 1938.22 which is the origin of the previous rally to the major H4 & daily supply zone at 2012.21 & 2003.16. Price filled the major H4 & daily range from the major H4 & daily demand zone to the H4 & daily supply zone and back to the H4 & daily demand zone. Price dropped into demand and formed strong rejection wicks with candle closes inside demand followed by a rally to 1954.52 after which price dropped back into demand. Price consolidated inside demand followed  by a drop, faking a break of demand and forming a lower low at 1932.00 with candle close below demand but on ...

GBPUSD MARKET ANALYSIS

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  Good morning traders, it's another amazing week meaning a start of fresh opportunities in the financial markets and its our obligation as traders to take advantage. Into the markets, I'm looking at GBPUSD where price rallied back to the key H1 & H4 supply zone at 1.25742 & 1.25382 which was a previously broken demand zone. The key H1 & H4 supply zone is also the origin of the drop to the H1 low at 1.244300 hence filling the H1 range from the key H1 & H4 supply zone to the H1 low at 1.24430 and back to the key H1 & H4 supply zone. Price retraced to retest the supply zone at 1.25400 before a continuation of the drop lower to the next H1 low at 1.24430. Price retraced to retest supply and failed to get to supply causing a drop during London session to 1.24700 after which price rallied back to supply for a proper retest. Took sell positions during mid-London session at 1.25400 with SL at 1.25650. Setup taken is a rally base drop, a reversal setup and my target...

NZDUSD MARKET ANALYSIS

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  Good afternoon traders, it's another amazing Friday afternoon showing a close end of this trading week and I hope you all have taken advantage and had some profitable opportunities. Into the charts today I've been looking at NZDUSD where price dropped from a major H1 & H4 supply zone at 0.63805 & 0.63478 which is the origin of the previous drop to the major H1 & H4 demand zone at 0.61358 & 0.60994. Price filled the major H1 & H4 range from the major H1 & H4 supply zone to the major H1 & H4 demand zone and back to the major H1 & H4 supply zone. Price dropped from the major H1 & H4 supply zone in a constant push away from supply dropping 50 pips to 0.63300. Price retraced to retest supply at 0.63500, left a strong rejection wick followed by a drop lower in one strong bearish engulfing candle to 0.63100. Took sell positions during NY session at 0.63275 with SL at 0.63500. Setup taken is a drop base drop, a continuation setup and my target is a...

XAUUSD MARKET ANALYSIS

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  Good afternoon traders, it's another week full of great opportunities in the financial markets and I hope you're ready to take advantage of that and have a profitable week. Into the markets today I'm looking at XAUUSD where price dropped from a major H1 & H4 supply zone at 2052.85 & 2030.88 which is the origin of the previous drop to the H1 & H4 demand zone/liquidity at 1980.40 & 1970.72. Price filled the H1 & H4 range from the major H1 & H4 supply zone to the H1 & H4 demand zone and back to the major H1 & H4 supply zone. Price dropped 460 pips to the 1st H1 & H4 low which was a previously broken H1 & H4 supply at 2006.53. Price failed to break the H1 & H4 low and instead retraced to retest supply before a continuation of the drop lower. Price rallied to 2029.56 and formed rejection wicks followed by a slight drop to 2019.00 where price failed to break that minor low. Price rallied back to the high at 2029.00 during London sessi...

EURCAD MARKET ANALYSIS

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Good morning traders, its another amazing Wednesday filled with many profitable opportunities in the financial markets and I hope you're ready to take on them wholeheartedly. Into the charts today I'm looking EURCAD where price rallied to a key H1 & H4 supply zone at 1.51044 & 1.50665 which is the origin of the previous drop to the H1 & H4 demand zone at 1.48993 & 1.48405. Price filled the H1 & H4 range from the key H1 & H4 supply zone to the H1 & H4 demand zone and back to the key H1 & H4 supply zone. Price rallied into the key H1 & H4 supply zone and formed a rejection wick with candle close inside supply followed by a drop in a constant push away from supply in 4 H1 bearish candles with candle close below supply. Price retraced to retest supply before a continuation of the drop. Took sell positions during London session at 1.50700 with SL at 1.50950. Setup taken is a rally base drop, a reversal setup and my target is at the H1 & H4 dem...

USDCAD MARKET ANALYSIS

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  Good morning traders, it's the first week of a new month that brings with it more opportunities in the markets and I hope you're all ready to tackle them. This week is filled with high impact news like the FOMC release on Wednesday night and NFP on Friday so kindly trade cautiously. Into the markets today, I'm looking at USDCAD where price dropped into a key H1 & H4 demand zone at 1.35543 & 1.35188 which is a previously broken supply and also origin of the rally to the H1 & H4 supply zone at 1.36735 & 1.36458. Price filled the H1 & H4 range from the key H1 & H4 demand zone to the H1 & H4 supply zone and back to the key H1 & H4 demand zone. Price dropped into demand and failed to take out the previous lows and demand as well and formed candle closes inside demand. Price formed a rejection wick with candle close inside demand confirming the validity of the zone. Took buy positions during London session at 1.35331 with SL at 1.35100. Setup tak...