Weekly Summary And Review September 10th 2021

Hi Traders! Weekly summary and review September 10th, 2021 is here. It is now time to recap and summarize the trade setups that we had during the past 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)

GBPCHF – My idea here was “On the H4 chart, we have a strong resistance zone that has formed and the price which is moving higher has reached this zone, respected it and is bouncing lower from this zone. Also, we have a bearish divergence that has formed between the first high that has formed at 1.26097 and the second high that has formed at 1.26845 based on the MACD indicator which we may consider as evidence of bearish pressure. In addition to this, the ADX indicator gave a bearish signal here at the cross of -DI (red line) versus +DI (green line) and the main signal line (silver line) reads value over 25 which we may consider as evidence of bearish pressure. So based on all this, my short term view remains bearish here and I expect the price to move lower further until the H4 resistance zone holds”.Current Scenario – In this pair my view was bearish and I was expecting the price to move lower further until the strong resistance zone holds. The price is currently holding in this resistance zone so until this zone holds my bearish view still remains the same here.

 

 

NZDCHF – My idea here was “On the H4 chart, we had a strong bullish momentum and the price which was moving higher has broken above a strong resistance zone (which currently acts as a strong support zone for us after the breakout) and is holding above it. Currently it looks like a correction is happening and I expect the price to possibly continue higher further after this correction. Also, 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. In addition to this, currently there are no signs opposing this bullish view and I basically expect the price to continue higher further until the strong support zone shown in the image below holds”.
Current Scenario – Based on the above-mentioned analysis my view was bullish here and I was expecting the price to move higher further until the strong support zone holds. The price action followed my analysis exactly as I expected it to here and moved higher further delivering 60+ pips move so far.

 

 

GBPAUD – My idea here was “On the H4 chart, we had two strong support zones that has formed and the price which is moving lower has broken below these zones and is holding below them, we may consider this as evidence of bearish pressure. Currently, these strong support zones are acting as  strong resistance zones for us and the price which is moving higher has reached the first strong resistance zone. We also have a potential bearish hidden divergence that has formed between the first high that has formed at 1.91519 and the second current high at 1.87473 based on the MACD indicator. In addition to this, based on the Stochastic Oscillator we could see that the price has reached its extreme. We may consider these as other evidences of bearish pressure and also there are no signs opposing this bearish view. So based on all this, my short term view here is bearish and I expect the price to move lower further until the two strong resistance zones hold”.
Current Scenario – In GBPAUD the price is following the bearish expectations so far. Until the two strong resistance zones hold my plan still remains the same here and I expect the price to move lower further in the short term.
Note: You can follow me here on Trading View and also on my blog to get similar ideas on daily basis)

 

To your success,

Vladimir Ribakov
Certified Financial Technician

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