Daily technical & fundamental analysis for multi-forex pairs

luckyanand12

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154
USD/CAD & USD/JPY analysis
The video explains how I analyzed USD/CAD and USD/JPY to figure out a sell trade in CAD/JPY.
 

luckyanand12

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154
AUD/JPY analysis
Having watched scenario on USD/JPY and having seen a sell setup on AUD/USD, we decided to sell AUD/JPY too. We got an opportunity to sell after a 1/4 retracement of recent fast fall.
AUD JPY, May 27, 2020.png


TP has been calculated as per average of downswings' length of H4.


Risk: setup fails if market closes above 3/4 of the recent fall.
 

luckyanand12

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154
NZD/JPY analysis
Here is the scenario of NZD/USD:


NZD USD, May 27, 2020.png


And, here is the scenario of USD/JPY: click to watch the video.

Therefore, we decided to sell NZD/JPY. Here is how we sold it:

NZD JPY, May 27, 2020.png


TP has been calculated as per average length of downswings of H4.

Risk: If it closes above today's high, this trade setup will fail.
 

luckyanand12

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154
Buy trade setup in USD/CHF
USD/CHF has been trading in a range/channel on H4. USD index is oversold.

I have bought USD/CHF around lower line of channel and planning to exit around upper line. Alternatively, if it falls below the lower line of channel and if an H4 candle closed below lower line of channel, I'll close all buy positions.
USD CHF, H4, May 29, 2020.png


USD index, D1, May 29, 2020.png
 

luckyanand12

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154
AUD/USD analysis by a Forex Fund Manager
AUD/USD already had made a sell setup two days ago and we had made profit on it. Then it tried to go up but the D1/daily candle couldn't close above the last high.

AUD/USD made a 3-drive pattern. Second drive is 161.8% extension of 1st retracement and the last drive is just 127.2% extension of 2nd retracement, which shows that bullish force diminished more while making last drive. 3-drive is a reversal pattern that suggests sell trade here.

Here is what we else we see on the chart and how we entered:
AUD USD, H1, May 29, 2020.png
 

luckyanand12

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154
GBP/USD analysis
We observed that GBP/USD made a 3-Drive Pattern on H4 time-frame wherein the last drive couldn't reach even 127.2% extension of 2nd retracement. This shows significant weakness in the bulls.

We observed that MACD made a lower high whereas price made a higher high, it makes a Bearish Divergence.

Classical target of 3-Drive is swing low of the last drive. We kept our TP between 50% of the whole 3 Drive and the classical target.
Here is how we've entered our sell position in GBP/USD:
GBP USD, H4, May 29, 2020.png


This trade is not about the Double Top that we see on H4 if we zoom out. However, we are showing this bigger picture to make you understand that even long term context is bearish. Recent upswing is slower than previous upswing and downswing, which is favorable for bearish development.
GBP USD, H4, May 29, 2020 LT.png


Risk: If a H4 candle will close significantly above 127.2% of 2nd retracement, the trade setup will fail.
 

luckyanand12

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154
GBP/USD analysis | Forex Fund Manager
The video explains a sell trade setup on GBP/USD after RSI (5) returned from overbought condition (from above 80 level) on Daily/D1 time-frame. It also shows supporting scenarios on H4 and H1 time-frames.
 
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