FXS Announcement Week Support and Resistance areas based on volume profile simplified for visuals
ATBA is maintaining support of 386 and its next resistance is 423, after breaking 423 it could cross 468 and 540 again Note: This is not a buy/sell call Use stop loss
Hello traders Clarification: CAD is also referred to as the loonie, a former Canadian one dollar coin. The 50 base point cut by the BoC was expected. The CAD strengthened against the USD and CAD immediately afterwards. Classic knee jerk reaction of buy the rumor, sell the news. Both EUR/CAD and EUR/USD have found support on the 4H chart. The EURO has been on the backfoot against the USD but with the ECB rate decision in less than 24 hours, I have taken a long EUR/CAD position. The ECB is expected to cut by 25 base points which will still give the CAD a slight advantage. However, the Canadian forward guidance points to more rate cuts to stimulate consumer spending, albeit more gradually/25 points at a time. This leaves the ECB's forward guidance to cement this idea. IF Ms. Lagarde once again expresses concern about inflation moving forward, the EURO may appreciate across the board. Fundamentally the Euro Zone needs this rate cut. The economic conditions are not great at the moment. That leaves the FOMC next week and also the BOJ to provide us with more forward guidance. Once this is out of the way, we'll have a much better idea what to expect in 2025, bar some more geopolitical unrest or other major market moving event. Best of luck, all. The EUR/JPY is also some upside promise but keep in mind, the JPY marches to its own drummer. https://www.tradingview.com/x/OFfkoK8T/
Pullbacks are a bread-and-butter pattern for anyone trading trends. A market moves with momentum, takes a breather, and then resumes its original direction. Today, we’re diving into a refined variation of this classic setup: the nested pullback. What Is the Nested Pullback? The nested pullback takes the traditional pullback and adds a twist. After the market initially pulls back and resumes its trend, a smaller, secondary pullback sometimes occurs during the continuation leg. It’s a minor pause within a larger trend, but it holds major significance for those seeking precision in both entries and trade management. As depicted in the image below of Amazon's daily candle chart, we see an established uptrend, followed by a pullback. The trend resumes with strength, and crucially, we get a small pause—this creates the nested pullback pattern. It’s this compact formation within the broader move that makes it so effective, offering a structured opportunity for both entries and trade management. This pattern is a prime example of how market structure and evolving price action can guide decision-making. It’s not just about spotting a pullback, it’s about understanding the conditions that create this nested structure and using it to your advantage. Nested Pullback AMZN Daily Candle Chart https://www.tradingview.com/x/aCSPsflH/ Past performance is not a reliable indicator of future results Why This Pattern Can Be So Effective 1. The Cyclical Nature of Volatility Markets are inherently cyclical, with quiet periods followed by bursts of activity. The nested pullback leverages this dynamic, forming during the quieter phase before volatility picks up again. This makes it an excellent pattern for timing entries just as the market gears up for its next significant move. 2. Not All Pullbacks Are Equal A key factor in the nested pullback’s effectiveness is that it often follows shallow pullbacks—those with significantly less strength than the preceding trend leg. This relative weakness signals that the underlying trend is strong, and the market is likely to continue moving in the same direction. The nested pullback pattern isn’t new, but it gained wider recognition thanks to the work of trading authors like Adam Grimes and Linda Raschke. Their insights have helped countless traders incorporate this subtle pattern into their strategies. How to Trade It The beauty of the nested pullback is in its simplicity. If you missed the initial pullback entry, this pattern often offers a second chance to join the trend. The structure of the nested pullback allows you to define your risk clearly: stops can be placed just below the small range or flag that forms during the nested pullback. This tight stop placement provides a favourable risk-to-reward ratio, making it an appealing setup for traders. Managing the trade is equally straightforward. Keltner Channels can be a valuable tool here. By setting the Keltner Channel to 2.5 ATRs around a 20-day exponential moving average (standard settings), you can identify areas where the market might be overextended. If you’re long and the price breaks above the upper Keltner Channel, it could be a strong signal to take profits into strength. This approach ensures that you’re capitalising on the move while avoiding the temptation to hold on too long in the face of potential reversals. The nested pullback works particularly well in strong, trending markets. It often appears after breakouts or during continuation phases, giving traders a structured way to enter or manage positions confidently. Example: In the chart below, Gold is locked in a strong uptrend, with prices initially pulling back to the basis of the Keltner Channel. Following this pullback, the trend resumed, but not without a brief pause spanning two sessions—forming the nested pullback pattern. This pause presented an optimised entry point for traders looking to align with the prevailing trend. As momentum continued, prices surged into the upper Keltner Channel, providing a clear signal that the market was potentially overextended. This area served as an excellent opportunity to exit the position into strength, locking in gains before any potential reversal. Gold Daily Candle Chart https://www.tradingview.com/x/wZTerHXq/ Past performance is not a reliable indicator of future results Summary The nested pullback is a subtle yet effective pattern that builds on the simplicity of traditional pullbacks. By understanding its structure and why it works, you can use it to refine your entries and strengthen your trade management. Whether you’re new to trading or a seasoned pro, this pattern offers a practical edge in trending markets. Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
good entry is now then sit back and watch SL &TP aligned
There is still some room down but not a bad spot to start averaging in. If it breaks below the zone I would look at a stop. Trade Safe!!!
? Welcome to TradeCityPro Channel! Let’s step away from the crypto space and analyze West Texas Intermediate (WTI) from both technical and fundamental perspectives. ? Fundamental Overview Supply Dynamics: U.S. shale oil production and OPEC+ decisions are key drivers. Escalating tensions in the Middle East, such as the Israel-Gaza conflict or Iran-related sanctions, pose significant risks to global oil supply. Demand Trends : Economic growth and seasonal fluctuations influence demand, but the rise of renewables signals a gradual reduction in reliance on crude oil. Geopolitical Factors : The Middle East, a hub for major oil producers, heavily impacts markets. Regional conflicts often lead to price spikes due to supply concerns. Macroeconomic Trends : A stronger U.S. dollar and rising interest rates suppress oil demand, while inflationary pressures support higher prices. Recent instability in the Middle East has heightened market volatility, underlining WTI's sensitivity to geopolitical events. ? 4-Hour Time Frame In the 4-hour timeframe, WTI has been trending downward, nearing a key daily support level at 66.938, which has held multiple times and may attract buyers, shifting momentum. ? Long Position Trigger wait for the 4-hour trendline breakout and trigger confirmations, such as RSI exceeding 73.48. The current 4-hour candle breaking the trendline could signal entry. ? Short Position Trigger if the candle is rejected and turns red with strong bearish momentum or breaks below 66.938, it could trigger a sell opportunity in the market. ? Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
This time, we’re looking at the Solarna chart. As you can see, we have a very large overarching yellow structure, and our interim breakout was stopped at the resistance line. On the right, I’ve included an image from a smaller timeframe, and as you can see, we’re currently managing to position ourselves within the reversal zone, also known as the XY level, in a turquoise structure. I strongly believe this level will push us down into the target levels. Within these target levels lies our overarching yellow XY level. This marks a very attractive area where Solarna has a good chance to regain strength, complete the sequence to the upside, and aim for the $300 mark. Will this be enough to dethrone Ethereum? Only time will tell.
One you start to see the pattern, you can not unseen it. USDJPY will be shorting for the rest of the day... Entry is confirmed on the 5min chart.. ??
After years of solid growth, the signs for distribution beetween bulls and bears has arrived. Shares are changing the hand, from investors to speculants. And I suppose extreme speculatants. There are some players on market which are preparing an extreme short selling. Technical side, there a enough signs to say good bye and change the river side, from long to short. 11 th of dec: open to short NDX @ 21715.87 Dan, 11th dec 2024