Hi Traders! Arvinth here from Traders Academy Club team. Weekly summary and review March 25th, 2022 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 this week and how it has currently developed now.

Trading Ideas (Blog Posts)

AUDNZD – My idea here was “On the H1 chart, the price which was moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. Currently, it looks like a correction is happening. Also, based on the Stochastic Oscillator we could see that the price has reached its extreme which we may consider as yet another evidence of bullish pressure. In addition to this, we had two strong resistance zones that has formed and the price which was moving higher has broken above these zones and is holding above them. After the breakout these strong resistance zones are acting as two strong support zones for us. Until both these strong support zones hold my short term view remains bullish here and I expect the price to move higher further”.

Current Scenario – In this pair my view was bullish and I was expecting the price to move higher further in the short term until the two strong support zones hold. The price action followed my analysis exactly as I expected it to here. The pullback that I was looking for happened and the price which was moving lower respected the first strong support zone, and bounced higher from this zone, delivering 110+ pips move so far.

GBPCHF – My idea here was “On the H4 chart, we could see that the price which was moving lower has created a bearish trend pattern in the form of three lower highs, lower lows which we may consider as evidence of bearish pressure. Generally, after a bearish trend pattern, we may expect corrections and then further continuation lower. Currently, it looks like a correction has happened and the price which was moving higher reached a key resistance zone formed by the 61.8%(1.24008)Fibonacci expansion level of the first wave of the correction and the 61.8%(1.24155) Fibonacci retracement level of the bearish trend pattern. The price respected this key resistance zone and is currently bouncing lower from this zone. In addition to this, we had a bearish divergence that has formed between the first high that has formed at 1.24147 and the second high that has formed at 1.24192 based on the MACD indicator which we may consider as another evidence of bearish pressure. So everything looks good here for the bears and until the key resistance zone holds my short term view remains bearish here”.

Current Scenario – Based on the above-mentioned analysis my short term view was bearish here and I was expecting the price to move lower further until the key resistance zone holds. The price action followed my analysis exactly as I expected it to here and it moved lower further delivering 150+ pips move to the downside so far.

You can see this move clearly on the H1 chart below.

Apple – My idea here was “On the H1 chart, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment. Also, the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. In addition to this, the ADX indicator gave a bullish signal here as well at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. Currently, it looks like a correction is happening. Also, we had two strong resistance zones that has formed and the price which was moving higher has broken above these zones and is holding above them. After the breakout these strong resistance zones are acting as two strong support zones for us. Until both these strong support zones shown in the image below holds my short term view remains bullish here and I expect the price to move higher further”.

Current Scenario – In Apple the price action is following the bullish expectations so far. My plan still remains the same here that is until the two strong support zones hold my short term view here is bullish and I expect the price to move higher further.

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