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Showing posts from October, 2024

GBPUSD MARKET ANALYSIS

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  Good afternoon traders, it's another week getting closer to the US elections happening next week and I hope you're ready to take advantage of the volatility during this elections period. Into the markets I am looking at GBPUSD where price rallied to a key H1 & H4 supply zone at 1.29900 & 1.29640 which was the origin of the previous drop to the H1 & H4 low at 1.29100. Price rallied to 1.29900 and formed rejection wicks with candle closes inside the zone. Took sell positions during NY session yesterday at 1.29930 with SL at 1.30140. Setup taken is a rally base drop, a reversal setup and my target is at 1.28500, the next major daily demand zone. Price dropped to 1.29600 then retraced back deep into supply at 1.29890 almost back at entry. Price rallied higher missing my SL by few pips then dropped 50 pips to 1.29410 then reversed and rallied strongly taking out my positions and hitting SL. Price formed a H1 & H4 minor demand zone at 1.29410 & 1.29120 causing a...

GBPUSD MARKET ANALYSIS

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  Hello traders, here's another setup I am closely watching out for on GBPUSD where market opened this week inside a key H4 & daily supply zone at 1.30750 & 1.30320 which is a previously broken demand zone. Price formed candle closes inside supply followed by a drop by a constant push away from supply. Took sell positions during London session at 1.30400 with SL at 1.30670. Setup taken is a rally base drop, a reversal setup and my target is at 1.28600 above the major daily demand zone at 1.28467 & 1.27980. Price gained strong bearish momentum dropping 80 pips to the 1st H1 low at 1.29770. Price failed to break the H1 low and instead retraced to 1.30100 forming a lower high before a continuation of the drop lower. Price dropped back to 1.29750 and still showing more bearish potential. Price gained more bearish momentum taking out the previous H1 low at 1.29770 and forming lower lows on H1 & H4 at 1.29550. Price dropped 100 pips to 1.29550 then retraced to 1.29950 to ...

EURUSD MARKET ANALYSIS

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  Good afternoon traders, I hope you've all enjoyed the long weekend and you're ready for the new trading week. Into the markets this week I am looking at EURUSD where price broke a key H4 & daily demand zone at 1.09040 & 1.08730 and formed a lower low at 1.08500. Price retraced to retest the broken demand as a new supply zone before a continuation of the drop lower. Price dropped to 1.08200 forming new lows then retraced back to supply forming candle closes below supply. Market opened this week with price still below the supply without breaking the previous H1 high at 1.08730. Took sell positions during London session at 1.08610 with SL at 1.08820. Setup taken is a rally base drop, a reversal setup and my target is at 1.07800. Price dropped 48 pips to 1.08110 confirming the bearish sentiment and forming lower lows. Price retraced to 1.08375 forming a lower high before a continuation of the drop lower. Price gained more bearish momentum dropping 90 pips to the 1st targe...

AUDUSD MARKET ANALYSIS

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  Good evening and happy new week fellow traders. I hope you've all had a great weekend and you're ready for the new week. Into the markets today I am looking at AUDUSD where price strongly dropped to 0.67100 then formed a supply BOS on H1 & H4 at 0.67542 & 0.67368. Price dropped from the BOS gaining bearish momentum during London session into NY session dropping to 0.67040. Price then retraced in one strong H1 bullish candle back to the BOS supply zone. Took sell positions during NY session at 0.67370 with SL at 0.67580. Setup taken is a drop base drop, a continuation setup and my target is at 0.66450. Price dropped 30 pips to 0.67030 then retraced back to supply. Price gained more bearish momentum taking out the previous low and forming lower lows confirming the bearish sentiment. Price gained more bearish momentum dropping 75 pips to 0.66600 and missed the target level by 25 pips. Price then retraced during Asian session back to 0.67050. I still anticipate a potentia...

WEEKLY OVERVIEW VIDEO

  Hello traders and fellow chartists, here's a video breakdown giving updates on the pairs that I am currently actively trading and updates on the previous week's setups. It's been a while since I did a video analysis so here's an in depth breakdown of the trade setups. Enjoy!

USDCHF MARKET ANALYSIS

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  Good evening chartists, it's the 2nd week of the 4th quarter. Last week the quarter started with multiple opportunities in the markets with back to back targets being hit. Into the markets this week I am looking at USDCHF where price broke a major H4 supply zone at 0.85680 & 0.85330 which was the origin of the previous major drops to the major H4 & daily demand zone at 0.84000 & 0.83628. Price formed a higher high at 0.86000 with candle closes above the zone. Price retraced to retest the broken supply as new demand before a continuation of the rally higher. Took buy positions during London session at 0.85680 with SL at 0.85430. Setup taken is a rally base rally, a continuation setup and my target is at 0.86940. Price dropped deeper into the zone hence hitting my SL and taking out my positions. Price dropped inside the zone but failed to break below. Took buy re-entry positions during NY session at 0.85388 with SL at 0.85130.

USDCAD MARKET ANALYSIS

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  Good evening fellow chartists, here's another setup I am looking out for on USDCAD for a potential bullish reversal. Price dropped back to the major H4 & daily demand zone at 1.34716 & 1.34360 which was the origin of the previous major rally to the major H4 & daily supply zone. Price filled the H1 & H4 range from the major H4 & daily demand zone to the H1 & H4 supply zone and back to the major H4 & daily demand zone. Price missed my pending buy limit order at 1.34700 and instead reversed from 1.34760. Took buy positions during NY session at 1.34850 with SL at 1.34640. Setup taken is a drop base rally, a reversal setup and my target is at 1.35700. Price formed multiple candle closes above demand followed by a rally by a constant push away from demand. Price rallied 65 pips to the 1st H4 high at 1.35380 confirming a shift in market structure to bullish. Price gained more momentum taking out the previous H4 high and forming higher highs showing a potentia...

AUDUSD MARKET ANALYSIS

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  Happy new month traders, it's the 2nd day of the month and the new quarter. Into the markets today I am looking at AUDUSD where price rallied into a major H1 & H4 supply zone at 0.69380 & 0.69020 which was the origin of the previous drop to the key H1 & H4 demand zone at 0.68305 & 0.68060. Price rallied into the zone and formed rejection wicks with candle closes inside supply followed by a drop. Price dropped 70 pips to the 1st H1 low at 0.68700 then retraced to retest supply before a continuation of the drop. Took sell positions during Asian session at 0.69020 with SL at 0.69220. Setup taken is a rally base drop, a reversal setup and my target is at 0.68300. Price dropped to 0.68800 then retraced to retest supply before a continuation of the drop lower. Price dropped by a constant push away from supply, taking out the previous lows and forming lower lows confirming a shift in market structure to bearish. Price has dropped 80 pips to 0.68572 and still showing more...