ThinkMarkets’ Post

This is the trade breakdown analysis of GBPJPY that occurred on September 20th. The price was in an uptrend, so we waited for the candle to close above the resistance level to take a potential buy trade. A strong candle closed above the resistance, and we switched to the M5 chart to find an entry. On the M5 chart, we waited for the price to create some support so we could set our stop loss at that level. Once the price created support and a candle closed above the M5 resistance, we entered the trade. Our stop loss was placed at the current 5-minute support. Our first target was set at a 1:1.5 ratio, and the second at a 1:3 ratio. When the first target was hit, we moved our stop loss to break even and waited for the second target. However, the price fell back to our entry point, and only our first target was hit. If you're interested in trading with this strategy, contact us. For more trading tips and tricks, follow "Forex Finds." on Tiktok and instagram

USD/CAD | Trade Setups Update ● Current Status: The USD/CAD pair is finding support at the Point of Control (POC). The Moving Averages (MAs) have crossed bullish. ● Technical Indicators: Despite the bullish crossover, momentum and money flow are declining, suggesting caution. ● Outlook: Traders should watch for signs of sustained bullish momentum to confirm the potential uptrend.

USD/CAD | Trade Setups Update ● Current Status: The USD/CAD pair is finding support at the Point of Control (POC). The Moving Averages (MAs) have crossed bullish. ● Technical Indicators: Despite the bullish crossover, momentum and money flow are declining, suggesting caution. ● Outlook: Traders should watch for signs of sustained bullish momentum to confirm the potential uptrend.

USD/CAD | Trade Setups Update ● Current Status: The USD/CAD pair is finding support at the Point of Control (POC). The Moving Averages (MAs) have crossed bullish. ● Technical Indicators: Despite the bullish crossover, momentum and money flow are declining, suggesting caution. ● Outlook: Traders should watch for signs of sustained bullish momentum to confirm the potential uptrend.

USD/CAD | Trade Setups Update ● Current Status: The USD/CAD pair is finding support at the Point of Control (POC). The Moving Averages (MAs) have crossed bullish. ● Technical Indicators: Despite the bullish crossover, momentum and money flow are declining, suggesting caution. ● Outlook: Traders should watch for signs of sustained bullish momentum to confirm the potential uptrend.

$GBP/USD I Forex Trade Setup Update ● Current Status: GBP/USD is encountering resistance near the Point of Control (POC), close to the value area high of the range. ● Technical Indicators: Momentum and money flow are rising, indicating bullish pressure. ● Outlook: The moving averages have crossed bullish, suggesting potential continued upside. Traders should monitor for confirmation of sustained upward movement.

$GBP/USD I Trade Setups Update ● Current Status: GBP/USD is encountering resistance near the Point of Control (POC), close to the value area high of the range. ● Technical Indicators: Momentum and money flow are rising, indicating bullish pressure. ● Outlook: The moving averages have crossed bullish, suggesting potential continued upside. Traders should monitor for confirmation of sustained upward movement.

$GBP/USD I Trade Setups Update ● Current Status: GBP/USD is encountering resistance near the Point of Control (POC), close to the value area high of the range. ● Technical Indicators: Momentum and money flow are rising, indicating bullish pressure. ● Outlook: The moving averages have crossed bullish, suggesting potential continued upside. Traders should monitor for confirmation of sustained upward movement.

Support and resistance are fundamental concepts in Forex trading that help traders identify key levels on price charts where the market is likely to react. Here's an overview Support: Support levels are price levels where buying interest is strong enough to prevent the price from falling further. In other words, support represents a floor for prices. When the price approaches a support level Support levels can be identified using various methods, including previous swing lows, horizontal lines, trendlines, moving averages, or Fibonacci retracement levels. Resistance: Resistance levels are price levels where selling interest is strong enough to prevent the price from rising further. Resistance represents a ceiling for prices Resistance levels can be identified using methods similar to support levels, such as previous swing highs, horizontal lines, trendlines, moving averages, or Fibonacci retracement levels Traders use support and resistance levels in several ways: Entry and Exit Points Stop Loss Placement Take Profit Levels Confirmation of Breakouts Support and resistance levels are dynamic and can change over time as market conditions evolve

How to Gain from the AUD/CHF Upward Trend The AUD/CHF currency pair has been experiencing a significant upward trend, presenting a lucrative opportunity for forex traders. To capitalize on this trend, it's essential to understand the strategies and techniques that can help you gain from this movement. Understand the Trend Before entering a trade, it's crucial to confirm the trend. Use technical indicators such as moving averages, relative strength index (RSI), and Bollinger Bands to identify the direction and strength of the trend. Set Clear Entry and Exit Points Define your entry and exit points based on your risk tolerance and market analysis. Set stop-loss orders to limit potential losses and take-profit orders to secure gains.....https://lnkd.in/d9kxt24y