Daily technical & fundamental analysis for multi-forex pairs

[luckyanand12]

GBP/USD analysis and trading plan by Keon Consultancy | Nov 4, 2020​

Here is how I am trading GBP/USD during the counting of US election votes.

View attachment 59069

Risk: If an H4 candle closes below the last lower low shown in the screenshot above, the trade will be exited.

It ran in some floating profit before it came down. I closed it at BE ahead of the BOE/MPC news/events (Asset Purchase Facility, BOE Monetary Policy Report, MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes and Official Bank Rate).

 

[luckyanand12]

• Originally posted at the source 3 hours ago
• 1 min read

CAD/JPY analysis & trading plan by Keon Consultancy | Nov 5, 2020​

We've got a hidden Bearish Divergence on H4 as the price made a lower high, but the oscillator made a higher high. Besides this, we've got a harmonic chart pattern under construction that is a hybrid of Bat and Gartley.


Here is what all I see on H4 and how I am trading the CAD/JPY:

Here is what all I see on H1:

Risk: I will close the trade if an H4 candle will close above C.

 

[luckyanand12]

• Originally posted at the source 6 hours ago
• 1 min read

GBP/USD analysis & trading plan by Keon Consultancy | Nov 5, 2020​

Previous GBP/USD trade was closed at BE ahead of the BOE/MPC news/events. However, we were willing to buy again if the overall impact of the news/events came positive.

GBP/USD started surging up after the news. A buy position was entered as soon as RSI crossed 50. Moreover, we got a Gartley under construction.Previous GBP/USD trade

Risk: The position will be closed if an H1 candle will close below C.


Alternative scenario:

XABCD may not stop at the first resistance and may reach the final resistance forming a hybrid of Crab and Butterfly. The final resistance is a significant level because it's a confluence resistance cluster made by the XABCD ( 224% of BC & 127.2% of XA) and the ab=cd level. It means that the whole XABCD can be just a part of abcd development.

Trade plan 1: Close the position when the pair touches the 1st resistance, then re-enter after a tiny retracement (e.g. 23.6%) to target the final resistance.

Trade plan 2: Close half of the position when the pair touches the 1st resistance, then close the rest half at the final resistance.

 

[luckyanand12]

• Originally posted at the source 6 hours ago
• 1 min read

GBP/USD analysis & trading plan by Keon Consultancy | Nov 5, 2020​

Previous GBP/USD trade was closed at BE ahead of the BOE/MPC news/events. However, we were willing to buy again if the overall impact of the news/events came positive.

GBP/USD started surging up after the news. A buy position was entered as soon as RSI crossed 50. Moreover, we got a Gartley under construction.Previous GBP/USD trade
View attachment 59102
Risk: The position will be closed if an H1 candle will close below C.


Alternative scenario:

XABCD may not stop at the first resistance and may reach the final resistance forming a hybrid of Crab and Butterfly. The final resistance is a significant level because it's a confluence resistance cluster made by the XABCD ( 224% of BC & 127.2% of XA) and the ab=cd level. It means that the whole XABCD can be just a part of abcd development.
View attachment 59103


Trade plan 1: Close the position when the pair touches the 1st resistance, then re-enter after a tiny retracement (e.g. 23.6%) to target the final resistance.

Trade plan 2: Close half of the position when the pair touches the 1st resistance, then close the rest half at the final resistance.

Update1: It hit the first target.

Update2: If you are following the plan1, you can place a buy limit at the confluence support shown in he screenshot below:

 

[luckyanand12]

• Originally posted at the source 6 hours ago
• 1 min read

GBP/USD analysis & trading plan by Keon Consultancy | Nov 5, 2020​

Previous GBP/USD trade was closed at BE ahead of the BOE/MPC news/events. However, we were willing to buy again if the overall impact of the news/events came positive.

GBP/USD started surging up after the news. A buy position was entered as soon as RSI crossed 50. Moreover, we got a Gartley under construction.Previous GBP/USD trade
View attachment 59102
Risk: The position will be closed if an H1 candle will close below C.


Alternative scenario:

XABCD may not stop at the first resistance and may reach the final resistance forming a hybrid of Crab and Butterfly. The final resistance is a significant level because it's a confluence resistance cluster made by the XABCD ( 224% of BC & 127.2% of XA) and the ab=cd level. It means that the whole XABCD can be just a part of abcd development.
View attachment 59103


Trade plan 1: Close the position when the pair touches the 1st resistance, then re-enter after a tiny retracement (e.g. 23.6%) to target the final resistance.

Trade plan 2: Close half of the position when the pair touches the 1st resistance, then close the rest half at the final resistance.

2nd target was hit too.

 

[luckyanand12]

• 15 posted minutes ago at the source

GBP/USD analysis & trading plan by Keon Consultancy​

As the harmonic patterns -- which are reversal patterns -- mentioned in this previous analysis completed, we started searching for an opportunity to sell. If a reversal pattern doesn't cause full reversal, it can cause at least a 30% retracement against the total length/move of the pattern.

Since we wanted to exit the sell position at the nearest target, which is 30% of ab, we looked at M30 timeframe to find an early opportunity. As soon as the widening triangle shown in the picture, was broken to the downside, we entered a sell position.

Risk: If the GBP/USD returns back to upside and an H4 candle will close above today's high made so far, exit the trade.

 

[luckyanand12]

• 15 posted minutes ago at the source

GBP/USD analysis & trading plan by Keon Consultancy​

As the harmonic patterns -- which are reversal patterns -- mentioned in this previous analysis completed, we started searching for an opportunity to sell. If a reversal pattern doesn't cause full reversal, it can cause at least a 30% retracement against the total length/move of the pattern.
View attachment 59195


Since we wanted to exit the sell position at the nearest target, which is 30% of ab, we looked at M30 timeframe to find an early opportunity. As soon as the widening triangle shown in the picture, was broken to the downside, we entered a sell position.
View attachment 59196


Risk: If the GBP/USD returns back to upside and an H4 candle will close above today's high made so far, exit the trade.

As market made a slightly higher high, the nearest target now lies on the low of previous candle which is more likely to be broken. Therefore, we moved the TP to the next nearest target which is 30% of ab.

 

[luckyanand12]

As market made a slightly higher high, the nearest target now lies on the low of previous candle which is more likely to be broken. Therefore, we moved the TP to the next nearest target which is 30% of ab.

View attachment 59223

Closed at BE.

 

[luckyanand12]

• Originally posted at the source 21 hours ago.
• 1 min read.

AUD/USD analysis and trading plan by Keon Consultancy | Nov 18, 2020​

The picture below displays everything.

 

[luckyanand12]

GBP/USD analysis by Keon Consultancy | Jan 27, 2020

Here is how we are trading GBP/USD today: