EURGBP Is Approaching The Daily TrendHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.84100 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.84100 support and resistance area.
Trade safe, Joe.
SELL
NZDCAD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring NZDCAD for a potential downsides around 0.82900 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.82900 support and resistance area.
Trade safe, Joe.
USOIL Will Go Lower From Resistance! Short!
Please, check our technical outlook for USOIL.
Time Frame: 15m
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 66.952.
Taking into consideration the structure & trend analysis, I believe that the market will reach 66.542 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EUR/NZD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
EUR-NZD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.782 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the EUR/NZD pair.
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EUR/JPY BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
We are going short on the EUR/JPY with the target of 163.437 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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Tesla bearish gap fill for further highs!? Going along the lines of GAP fills since the beginning of the year #tesla have been filling all the gap fills apart from the last 2 big gaps that happened: .
My thoughts:
- will we see a sell off in the remaining weeks of the year? Fill in the 2nd to last remaining gap and then next year push all the way up to $450
- Do we see the sell off happen till president trump is elected as president and then the stock will fly back to the highs of this year? As Elon is part of D.O.G.E
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AUDUSD Potential DownsidesHey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.64900 zone, AUDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.64900 support and resistance area.
Trade safe, Joe.
BITCOIN Will Move Lower! Sell!
Here is our detailed technical review for BITCOIN.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 89,698.74.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 80,500.75 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURAUD Is Very Bearish! Short!
Please, check our technical outlook for EURAUD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 1.634.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.625 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPUSD Sustained SellsGU unlike EU is actually a bearish market overall and this makes sells more readily available to me. TBH since shifting over to trading gold almost exclusively I can't stand how much slower forex pairs such as GU and EU move by comparison so it is unlikely that I would trade it even if I do end up seeing something but I will call it out if I feel like it needs to do so.
That being said, GU is currently in consolidation right now after just breaking out of a previous consolidation. When we look at what GU has been doing over the past few weeks it also shows heavy bearish momentum
If you even look at the peak one might even say that price stop hunted high to get rid of sellers who had stops higher, but I'm not quite sure so I won't use that as a confluence within this particular analysis.
This is what I see, price stumbling within the consolidation a bit more and then pushing up to about this level or so to get rid of sellers stops within both the consolidation areas and then drop after that.
My reason for using this particular path is simple. I think the dealer wants to get rid of sellers but he can't drive price so high such that he gives new sellers a better opportunity - if price goes any higher he may give sellers the signal they are looking for to get in which invalidates the dealer's move. If price gets up to the level highlighted by the blue marker sells are probably off the table temporarily.
EURUSD Macro Sells PossibleAlright so it's been a literal while since I've analyzed anything other than gold and or maybe BTC. But neither of them have any opportunity currently so I am taking a look at a few other assets to see if there is anything interesting.
On EURUSD, we can see here what appears to be price stumbling at a level in which price has bought multiple times in the past and what I find really interesting about this level is the fact that price is bullish.
EURUSD is an overall bullish market so the fact that it is selling suggests that price needs to grab liquidity from the downside. But why? What is down there that price needs so badly?
Well, Think about it. Buyers place stop losses where exactly? At the lows right?
Yeah when you look at it on the weekly timeframe in my opinion it becomes even more clear - price needs to go lower to clear out buyers stops.
BUT
This then means that price needs to sell right? And we can only truly sell when price is bearish enough to do so right?
Well here seems to be very bearish, but I'd admit that I feel like I am drawing at straws here in hopes that it breaks this time, I'd be honest I am not hopeful that it will lol
That being said, what I think is possible for EU is that it will continue to stumble about this level for a while, maybe even go higher, before truly attempting to drop.
As much as I wish to find something here, I don't think there is anything.
The most I can say is maybe more sustained sells (very short term) until price leaves this orange zone
I'd be careful with this one
EUR/CAD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
We are now examining the EUR/CAD pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 1.472 level.
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USD/CHF SHORT FROM RESISTANCE
Hello, Friends!
The BB upper band is nearby so USD-CHF is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 0.876.
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XRPUSDT: Consolidation and Potential Breakout SetupXRPUSDT is currently trading around 0.5475 USDT, facing downward pressure from a long-term descending trendline. The price has tested this trendline several times, indicating a strong resistance level that has yet to be broken.
A support zone (highlighted in blue) around the 0.5328 level has held strong, suggesting a consolidation phase within this range. If XRP can maintain support and consolidate further, a breakout above the trendline could set the stage for a bullish move, potentially targeting 0.60 USDT or higher.
However, if the price fails to hold the support zone, we may see a pullback to lower levels. Traders should watch for a clear breakout from this descending resistance or a confirmed hold of the support to determine the next move.
Gold: Heading Towards Previous Low?Hey Traders, in today's trading session we are monitoring XAUUSD for a selling opportunity around 2580 zone, Gold is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 2580 support and resistance area.
Trade safe, Joe.
Gold for newsI'd be a fool to believe that gold is ready to continue with it's bullish trajectory at this time
Especially with this current move that is playing out right now.
It all seems to obvious from my perspective. It almost feels like the dealer is baiting me into buying.
Keep in mind we have a red folder news event in about an hour from now.
Also when you look at gold's momentum, its definitely bearish at this which means any buys you attempt to take you will be actively trading against a flood of sellers who all want price to go down more than you want it to go up.
If you've been following me for anytime at all, you know how hard it is for me to even begin to consider trading against whatever the momentum of the market is saying.
Market going bearish, sells
Market going bullish, buys
Simple.
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Selling gold now in my opinion (despite me thinking it will sell for the news event itself) may not be the best idea.
If I think gold is inducing buyers, it will likely need to continue a bit bullish before dropping for the news itself.
Which means your sells are in jeopardy of being stopped out before the news even moves the market.
But it also cannot buy too much to give new potential sellers an opportunity.
Think about it like the price needs to go to what you might call "the goldilocks zone"
Not too high, not too low but jusssssst rightttt
This is what I expect for gold during the news itself.
Of course I am not going to actively trade this until I see exactly what I want to see.
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Also, you see the amount of people (just from right in here in the minds) interested in sells. Yeah. That isn't a good sign to sell now lol
90% of traders lose 90% of their money in 90 days. Why do what 90% of traders do?
Let gold show its hand before you decide to play yours.
US500 Is Going Down! Sell!
Here is our detailed technical review for US500.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 5,996.5.
Considering the today's price action, probabilities will be high to see a movement to 5,900.6.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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USDJPY Will Go Lower From Resistance! Short!
Please, check our technical outlook for USDJPY.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 156.038.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 153.678 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD Will Go Down! Short!
Please, check our technical outlook for GOLD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2,609.486.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,575.180 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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BITCOIN BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
Previous week’s green candle means that for us the BITCOIN pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 80,322.
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USD/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
USD/CAD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 2H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 1.396 area.
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NAS100 Will Go Lower! Sell!
Take a look at our analysis for NAS100.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 21,056.31.
The above observations make me that the market will inevitably achieve 20,692.20 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPUSD Will Move Higher! Buy!
Here is our detailed technical review for GBPUSD.
Time Frame: 45m
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 1.274.
Considering the today's price action, probabilities will be high to see a movement to 1.278.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!