Weekly Trades Summary June 26th 2020

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Weekly Trades Summary June 26th 2020

Hi Traders! Weekly Trades Summary June 26th 2020 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.

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Note: As you know, we always summarized the performance of the systems. But now, for the next few weeks, we are busy with migrating our technology to new servers and update the technical tools we use, so until we solve it, we can’t upload images of the systems.

Meanwhile, to keep the pace and the value for our followers, I decided to do weekly summaries of the blog posts, the trading view posts, and to show how well they worked, or not, what validates our setups and what invalidates them, and to help my followers to understand better my trading techniques and how I implement them

I hope you find it useful and helpful and would appreciate your feedback below, in the comments section.

First, we will see the trade ideas that I shared in my blog:

Blog Ideas

NZDJPY – My idea here was “On the H4 chart, we had a double wave to the downside and while measuring the first leg of this double wave we had three important support zones that have formed based on the fibonacci expansion levels. The price which was moving lower reached the first support zone at 61.8% (67.877) fibonacci expansion level, respected it, and is currently moving higher. We also had a bullish divergence between the first low that has formed on 12th June 2020 and the second low that has formed on 21st June 2020 which we may consider as evidence of bullish pressure. In addition to this, the price which was moving higher has currently broken above the most recent downtrend line which we may consider as another evidence of bullish pressure. So until the important support zone at 61.8% (67.877) fibonacci expansion level holds my view remains bullish here and I expect further continuation higher”.

Weekly Trades Summary June 26th 2020Current Scenario – After the breakout of the downtrend line, the price retested the breakout and is currently moving higher. Until the important support zone at 61.8% (67.877) fibonacci expansion level holds my view remains bullish here and I expect further continuation higher.

Weekly Trades Summary June 26th 2020

 

USDSGD – My idea here was “On the H1 chart, the price which is 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. The invalidation level for this bearish view would be the 61.8% fibonacci retracement level at 1.39454 of this bearish trend pattern, if the price moves higher in one straight leg, breaks and holds above this level, then this bearish view will be invalidated. Until this invalidation level holds, my view remains bearish here and I expect further continuation lower”.

Weekly Trades Summary June 26th 2020Current Scenario – The correction that I was looking for happened in the form of three waves to the upside. This is a contradictory sign so right now I remove this pair from my watch list. As traders, we should always follow the facts, it doesn’t matter what view you had yesterday, what matters is what happens in the market today because the market is dynamic and it doesn’t necessarily have to agree with the way you see it. As long as the market follows my ideas and validates my setups I can trade and if it doesn’t switch, have a different read and turn around when required.

Weekly Trades Summary June 26th 2020

 

Coffee – My idea here was “On the H4 chart while measuring the two waves we have using the fibonacci expansion tool we could see that the 161.8% fibonacci expansion level of the first wave at 92.19 and the 100% fibonacci expansion level of the second wave at 95.01 coincides exactly with the daily support zone. Which makes this area a very strong support zone for us. In addition to this, we have a bullish divergence that has formed between the first low that has formed on 29th May 2020 and the second low that has formed on 15th June 2020 based on the MACD indicator and RSI indicator which we may consider as evidence of bullish pressure. We also have a good downtrend line that has formed and the price is respecting it so far. If we get a valid breakout above this downtrend line, it would validate the bullish view, we may then expect further continuation higher”.

Weekly Trades Summary June 26th 2020

Coffee H4(4 Hours) Chart Current Scenario

Based on this analysis I mentioned that until the strong support zone holds my view remains bullish here and break above the downtrend line would validate this bullish view. The price moved perfectly as I expected, the price respected the strong support zone and then it moved higher and broke above the downtrend line thus validating this bullish view. Then the price moved higher and provided a nice move to the upside (you can see this move clearly on the H1 chart).

Weekly Trades Summary June 26th 2020

Coffee H1(1 Hour) Chart Analysis

My idea based on the H1 chart was “While looking at the H1 chart we could see that the H4 downtrend line breakout happened in the form of a bullish trend pattern which we may consider as evidence of bullish pressure. Generally, after a bullish trend pattern we may expect correction and then further continuation higher. Currently, it looks like the correction is happening, once the correction completes itself we may then expect further continuation higher”.

Weekly Trades Summary June 26th 2020Current Scenario – Currently it looks like a deeper correction is happening until this downtrend line breakout holds my view remains bullish here.

Weekly Trades Summary June 26th 2020

 

 

AUDCHF – My idea here was “Looking at the H4 chart we could see that after the strong move to the downside from the key resistance zone currently, it looks like a flat correction is happening in the form of a triangle pattern. The price is respecting this triangle pattern so far and also based on the Parabolic Sar the dots are above the price which we may consider as evidence of bearish pressure. So if we get a valid breakout below the triangle pattern we may consider it as a validation for the bearish view and we may then expect the price to continue lower further”.

Weekly Trades Summary June 26th 2020

Current Scenario – My view still remains the same here, that is if we get a valid breakout below the triangle pattern we may consider it as a validation for the bearish view and we may then expect the price to continue lower further.

Weekly Trades Summary June 26th 2020

 

 

Trading View

EURUSD – My idea here was as follows:

H4 – The price which was moving lower respected the key support zone formed by the uptrend line and the pivot points and is currently moving higher.

The price which is moving higher has currently broken above the most recent downtrend line.

Expecting further continuation higher.

Weekly Trades Summary June 26th 2020

Current Scenario – This idea failed as the price moved lower and created a bearish trend pattern on the H1 chart. This is a contradictory sign, as traders, we should always follow the facts, it doesn’t matter what view you had yesterday, what matters is what happens in the market today because the market is dynamic and it doesn’t necessarily have to agree with the way you see it. As long as the market follows my ideas and validates my setups I can trade and if it doesn’t switch, have a different read and turn around when required.

Weekly Trades Summary June 26th 2020

EURUSD H1 (1 Hour) Chart

Weekly Trades Summary June 26th 2020

 

Oil – My idea here was as follows:

D1 – Price is currently holding in the psychological level 40, potential bearish divergence.

H4 – We have two false breaks with bearish divergence.

Expecting corrections in the short term.

Weekly Trades Summary June 26th 2020

Current Scenario – Based on the above-mentioned analysis my view was bearish here and I was expecting further continuation lower. The price moved perfectly as per my plan on the H1 chart, the price moved lower further exactly as I expected delivering an excellent move to the downside.

Weekly Trades Summary June 26th 2020

Oil H1(1 Hour) Chart

On the H1 chart, based on the current scenario we could see that the price has created a bearish trend pattern which we may consider as evidence of bearish pressure. Generally, after a bearish trend pattern, we may expect correction and then further continuation lower. Currently, it looks like a correction is happening, once this correction completes itself we may then expect further continuation lower. My view still remains bearish here.

Weekly Trades Summary June 26th 2020

 

 

Bitcoin – My idea here was as follows:

D1 – Bearish divergence.

H4 – Bearish trend pattern followed by double wave correction. Price has broken below the most recent uptrend line.

H1 – Bearish trend pattern, expecting further continuation lower.

Weekly Trades Summary June 26th 2020

Current Scenario – The price is moving perfectly as per my plan here. The correction that I was looking for happened and the price has delivered a fantastic move to the downside. My view still remains the same here.

Weekly Trades Summary June 26th 2020

(Note: You can follow me here on Trading View and also on my blog to get similar ideas on daily basis)

For similar trade ideas and much more join the Traders Academy Club and get access to our complete watch list and trade report. 

This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course Live Market Analysis every single day.

Weekly Trades Summary June 26th 2020

 

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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kavegood
kavegood
17 days ago

thank you for all

1+