Hi Traders! Weekly summary and review June 25th, 2021 is here. It is now time to recap and summarize the trade setups that we had during this week. Below you will find the short explanation of all the trade setups we had in this week and how it has currently developed now.

Trading Ideas (Blog Posts)

EURAUD – My idea here was “On the H4 chart, the price which is moving higher has created multiple false breaks with a bearish divergence between the first high that has formed at 1.58658 and the second high that has formed at 1.58712 which we may consider as evidences of bearish pressure. In my POV there are two possible scenarios from here, which are as follows:

Scenario 1

If the price moves lower and if we get a valid breakout below the low at 1.57929 we may then consider it as a validation for the bearish view, we may then expect the price to continue lower further.

Scenario 2

Alternatively if the price moves higher with momentum and if we get a valid breakout above the high at 1.58712, we may then consider it as a validation for the short term bullish view. We may then expect the price to move higher towards the weekly resistance zone”.
Current Scenario – On the H1 chart, the price action followed my analysis and moved as per scenario 1. The validation for the bearish view which is a valid breakout below the low at 1.57929 happened as I expected it to. The price then provided a small pullback and then it moved lower and delivered 100+ pips move so far.

GBPUSD – My idea here was “On the H1 chart, the price has created multiple false breaks and bearish divergences between the first high that has formed at 1.39362 and the second high that has formed at 1.39869 which we may consider as evidences of bearish pressure. Also, while measuring the first wave of this correction using the Fibonacci expansion tool, we could see that the 100%(1.40138) Fibonacci expansion level of this first wave coincides with the first resistance zone on the H4 chart which makes this a key resistance zone for us. Also, we could see that the 161.8%(1.41089) Fibonacci expansion level of this first wave and the downtrend line coincides with the second resistance zone on the H4 chart which makes this area a second key resistance zone for us. Until both these key resistance zones hold my view remains bearish here and I expect the price to move lower further”.
Current Scenario – Based on the above-mentioned analysis my view was bearish here and I was expecting the price to move lower further until the two key resistance zones hold. The price which was moving higher reached the first key resistance zone, respected it and bounced lower from this zone, delivering 110+ pips move so far.

GBPCHF – My idea here was “On the H1 chart, the price which is moving higher has created multiple false breaks with a bearish divergence between the first high that has formed at 1.27985 and the second high that has formed at 1.28558 based on the MACD indicator which we may consider as evidences of bearish pressure. If the price moves lower and if we get a valid breakout below the low at 1.28000 we may then consider it as a validation for the bearish view and may expect the price to continue lower further. Alternatively if the price moves higher and if we get a valid breakout above the H4 key resistance zone then this bearish view will be invalidated”.
Current Scenario – In this pair the price action followed my analysis exactly as I expected it to. The validation for the bearish view which is a valid breakout below the low at 1.28000 happened and then the price moved lower further delivering 70+ pips move so far.
Note: You can follow me here on Trading View and also on my blog to get similar ideas on daily basis)

If you have any further questions, don’t hesitate to drop a comment below!

To your success,

Vladimir Ribakov
Certified Financial Technician

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