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Long-term and Short-term Setups

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  • Long-term and Short-term Setups

    Hello Traders,
    I’m a pro with 7+ years of experience in the market. I want to help out retail traders. So, here I post some of my long-term and short-term setups and crisp points of the reasoning and my conclusion. Hope it benefits you.

  • #2
    EUR/GBP Wave Analysis

    ~ After dismal data from Britain, EUR/GBP was off to the flyers yesterday.
    ~ It could be interpreted as a wave pattern and is now forming wave 4.
    ~ Further, it is close to a congestion zone which could act as strong support.
    ~ Hence, we expect the pair to be bullish in the near-term.

    Comment


    • #3
      GBP/JPY Wave Analysis

      ~~ After a strong bull run, the counter is currently in corrective (ABC) mode.
      ~~ It has completed wave A and is forming its final leg of wave B.
      ~~ It is now up against a resistive trendline and a break above it can take it higher.
      ~~ Hence, we advise traders to initiate long positions only when an hourly candle closes above the trendline.
      Last edited by Tricia Wilson; 16-07-20, 15:28.

      Comment


      • #4
        EUR/JPY Technical Analysis

        ~~ The pair did a long accumulation in the form of an inverted head and shoulder pattern.
        ~~ It finally broke out and has been consolidating in an ascending triangle (continuation) pattern since then.
        ~~ Hence, we expect the pair to have a strong bull run when it breaks the resistance level of 122.5.

        Last edited by Tricia Wilson; 17-07-20, 11:01. Reason: image

        Comment


        • #5
          EUR/CAD Technical Analysis

          ~~ The counter has been formed a long base formation.
          ~~ Further, it could be interpreted as a correction after a strong impulse move.
          ~~ It has crossed the critical resistance level of 1.55279 and is consolidating above it.
          ~~ And the MACD indicator has turned bullish and is having good momentum.
          ~~ Hence, we expect the pair to be bullish in the short-term trading.

          Last edited by Tricia Wilson; 20-07-20, 13:53. Reason: image

          Comment


          • #6
            USD/JPY Technical Analysis
            ~~ The counter is currently at the strong support of a trendline, which could be contemplated as triangle pattern.
            ~~ According to the short-term waves, the counter has completed wave B of a bear cycle and is due for a wave C.
            ~~ Hence, we expect the pair to be bullish and head to higher to levels.

            Comment


            • #7
              AUD/NZD Wave Analysis

              ** The counter is currently in a long-term bear cycle.
              ** It is currently in its second leg of wave B.
              ** Further, it resembles a flag formation and is coming down after hitting the upper parallel.
              ** Hence, we expect the pair to be bearish and move to the lower parallel from here.

              Comment


              • #8
                EUR/USD Technical Analysis

                ~~ The counter is currently in a strong bull run.
                ~~ It is forming a parabolic pattern, which suggests further strong upmove is on the cards.
                ~~ Also, the pair is forming a bullish pennant pattern in the short-term charts.
                ~~ We expect it to surge sharply higher for the day.

                Comment


                • #9
                  EUR/AUD Technical Analysis
                  ~~ The counter has broken two strong resistances back to back.
                  ~~ One- bearish trendline.
                  ~~ Two- Price resistance at 1.64427.
                  ~~ It is having strong momentum and hence we expect it to reach higher levels sooner.

                  Comment


                  • #10
                    GBP/USD Wave Analysis

                    ~~ The counter is currently in a short-term bull run.
                    ~~ It is now consolidating within ranges to form wave 4.
                    ~~ We expect the pair to move to the support zone (marked in the chart) and then head higher.


                    Comment


                    • #11
                      EUR/USD Technical Analysis

                      ~~ The counter is in a strong bull trend.
                      ~~ It consolidated for a brief period within a bullish flag and now has broken out.
                      ~~ Further, it has formed an inverted head and shoulder pattern within the flag which indicates the absorption of selling pressure.
                      ~~ Hence, we expect the counter to remain bullish in the short and near-term.

                      Comment


                      • #12
                        EUR/CHF Wave Analysis
                        ~~ The counter has completed a bear cycle and is due for a correction.
                        ~~ It formed an inverted head and shoulder pattern in the lower timeframes and has broken out.
                        ~~ Hence, we expect the counter to be bullish in the near-term.

                        Comment


                        • #13
                          CAD/JPY Wave Analysis
                          ~~ It has recovered from the low with a strong V-shaped rally, which is a sign of reversal.
                          ~~ Further, the could interpret it as an ABC correction.
                          ~~ Hence, we expect the pair to trade with bullish bias from here.


                          Comment


                          • #14
                            NZD/USD Technical Analysis
                            ~~ The counter has broken down two critical supports.
                            ~~ One- price action support level of 0.66128.
                            ~~ Two- Bullish Trendline.
                            ~~ It indicates the counter has changed its short-term to bearish and we advise traders to go short.


                            Comment


                            • #15
                              USD/CHF Technical Analysis
                              ~~ The counter is currently in sideways consolidation mode.
                              ~~ It is currently in its lower end of the range and the short-term indicators show signs of oversold condition.
                              ~~ Further, the wave interpretation deems a wave C move to the upper end of the range.
                              ~~ Hence, we expect the pair to be bullish in the near-term.

                              Comment

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