Price action trading

Eurjpy

Are you planning to adjust your exit point based on the consolidation above 197.25 or will you be aiming for higher targets?

Usually I enter with 2 trades. One for scalping @ nearest support/resistance and another one for weekly/ monthly targets.
Gj previous week is bearish.If the current week follows the bear my TP is even lower

Hmm.. I get what you're saying, thanks

Nothing was closed above 2664. Currently the price is above the previous monthly open. 4 hour close needed above 50 level for further upside. until then I am in bear mode.

Weekly view for gold

Waiting for the price to reach 2683 to sell targeting 2640

Intraday view for EURUSD

Intraday view for GBPUSD

Intraday view for GBPJPY

Intraday view for EURJPY

GBP Weekly view.
We have CPI release today

waiting for a set up to short @ 2683

Gold Intraday view

gold with usd

before my buy entry candle the price should touch minimum of 63% pullback here

XAUUSD Intraday Analysis 17th January

Market Overview:

Daily Momentum: Gold is in a bullish trend on the daily chart, indicating the possibility of further upward movement.
Previous Day Range: 2690 (low) to 2724 (high), providing a clear framework for key levels to monitor.

Key Levels to Watch:

Points of Interest (POIs) for Buying:

2707: Closest to the current price and likely to act as a minor support. Watch for bullish price action (e.g., engulfing or pin bars) on lower timeframes.
2700: Psychological level and a stronger support zone. Ideal for more aggressive buying if price dips here.
2695: Deeper retracement into the previous day's range, offering potential discounted entry.

Target Levels:

2724: Yesterday's high and a key liquidity area.
2730: Extended target, where stop orders may be placed by sellers.

Trading Plan:

Entry Strategy:

Wait for price action confirmation (e.g., bullish engulfing or reversal patterns) at the hourly POIs (2707 or 2700 even 2695).
Look for confluence with indicators such as RSI divergence or support from EMAs (e.g., 20 EMA or 50 EMA on lower timeframes).

Risk Management:

Place stop-loss below the POI you are trading from:
2707 Entry: Stop-loss at 2703.
2700 Entry: Stop-loss at 2694.

Take-Profit Strategy:

Partial profit at 2724 (previous day’s high).
Final target at 2730 for maximum gains.

Kill Zones:

London Session: Ideal for entries as liquidity increases and price may test POIs.
New York Open: Look for breakouts or continuation towards targets.

Additional Notes:

Monitor the DXY (US Dollar Index) for inversely correlated moves. A weaker USD supports bullish momentum in gold.
If price breaks below 2690, reassess for a potential shift in market structur

Weekly Market Analysis - Gold

Momentum and Market Structure

1. Current Momentum: Bullish
2. Previous Week: Bullish
3. Range: 2656 - 2724
4. Expectations: A bullish move is anticipated within the range.

Support Levels

1. 2697 (Daily Fair Value Gap - FVG): This level serves as a strong intraday support and potential entry zone for buyers.
2. 2690 (H4 Liquidity): Watch for liquidity sweeps around this level; potential reversal signs may emerge.
3. 2678 (Daily FVG): A deeper support level; buyers may defend this area aggressively if tested.

Targets

1. 2717: Mid-range target for intra-week bullish continuation.
2. 2724: Top of the previous week's range; could act as resistance or a liquidity pool.
3. 2749: Extended target; bullish momentum may need additional catalysts to breach this level.

Key Considerations

1. Equal Highs at 2726:
   1. The equal highs on the daily time frame signal a potential liquidity grab.
   2. Sellers may enter aggressively if price reaches this level, aiming to push it lower. Be cautious with long positions near this zone.

   
   

2. Market Behavior:
   1. A liquidity sweep above 2726 could trigger selling pressure, leading to a pullback toward the support levels mentioned.
   2. If price breaks and sustains above 2724, it increases the probability of reaching 2749.

   
   

Trade Plan

1. Long Opportunities:
   1. Look for bullish setups around 2697, 2690 or 2678 with confirmation (e.g., reversal candles, bullish divergence).
   2. Aim for targets at 2717, 2724, and 2749, scaling out at key levels.

   
   

2. Short Opportunities:
   1. Watch for rejection patterns or bearish reversal signs near 2726.
   2. Potential pullback targets include 2697 and 2678.

   
   

3. Risk Management:
   1. Use proper risk management according to your equity
   2. Monitor momentum carefully; a break below 2656 invalidates the bullish bias.

   
   

Weekly analysis for EURUSD

Market Overview

1. Previous Week Summary: After a series of bearish weeks, last week's candle showed signs of bullish momentum. The pair traded within a range of 1.0177 (low) to 1.0354 (high).
2. Current Bias: Bullish setups are anticipated within the identified range.

Key Levels to Watch
Support Levels

1. 1.0258: H4 liquidity level, likely to attract buy-side interest if revisited.
2. 1.0238: Another H4 liquidity zone, serving as a potential demand area.
3. 1.0219: H4 Fair Value Gap (FVG), which could act as a strong support for reversals.

Resistance Levels (Targets)

1. 1.0354: Last week’s high and an immediate upside target.
2. 1.0436: A higher resistance zone, aligning with extended bullish momentum.

Trading Plan

1. Look for buy opportunities if price dips into the support levels:
   

    

   1. At 1.0258 or 1.0238, observe for bullish reversal patterns like pin bars or engulfing candles.
   2. The 1.0219 (FVG) level could serve as a deeper retracement zone; monitor for liquidity grabs during the kill zones.
      

2. Targets:
   1. TP1: 1.0354 (previous week’s high).
   2. TP2: 1.0436 (next key resistance).

Key Additions

1. Risk Management: Always adhere to strict money management. If the weekly low (1.0177) is broken, long opportunities are invalid.

Weekly Analysis for GBPUSD
Market Overview

1. Previous Week Summary: GBPUSD remains under bearish pressure, trading within the range of 1.2099 (low) to 1.2306 (high).
2. Current Bias: Bearish setups are anticipated within this range.

Key Levels to Watch
Resistance Levels

1. 1.2227: H4 liquidity level, likely to act as a strong supply zone.
2. 1.2260: Another H4 liquidity area, where bearish setups could emerge.

Support Levels (Targets)

1. 1.2134: Immediate downside target for short trades.
2. 1.2099: Last week’s low, a critical support zone.
3. 1.2037: Extended target if bearish momentum continues.

Trading Plan
Scenario 1: Bearish Continuation

1. Look for sell opportunities at resistance levels (1.2227 and 1.2260):

    

   1. Wait for bearish reversal patterns such as engulfing candles or pin bars.
   2. Validate entries with liquidity grabs or rejections near these zones.

   
   

2. Targets:

    

   1. TP1: 1.2134
   2. TP2: 1.2099
   3. TP3: 1.2037

   
   

Scenario 2: Weekly High Breach

1. If 1.2306 is breached, short setups are invalid. Shift focus to potential long opportunities targeting higher levels.

Risk Management

1. Maintain strict money management practices.
2. If the weekly high (1.2306) is broken, abandon bearish setups immediately.