Weekly Trades Summary September 18th 2020

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Weekly Trades Summary September 18th 2020

Hi Traders! Weekly Trades Summary September 18th 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.

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

Blog Ideas

AUDCHF – My idea here was “On the H4 chart, the price which is moving higher has created a bullish trend pattern, which we may consider as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. We also had a strong resistance zone that had formed which the price has broken above and currently, this strong resistance zone is acting as a strong support zone for us. Also while measuring the bullish trend pattern using the fibonacci retracement tool we could see that the 38.2%(0.66276) – 50%(0.66017) fibonacci retracement zones coincide exactly with this strong support zone. The price which was moving lower reached this strong support zone, respected it, and is currently moving higher. We also had a bullish divergence between the first low that has formed on 3rd September 2020 and the second low that has formed on 14th September 2020 based on the MACD indicator which we may consider as evidence of bullish pressure. Also based on the Parabolic Sar the dots are below the price which we may consider as yet another evidence of bullish pressure. So until this strong support zone holds my view remains bullish here and I expect the price to continue higher further”.

Weekly Trades Summary September 18th 2020Current Scenario – My bullish view still remains the same here, that is until the strong support zone holds I expect the price to continue higher further.

Weekly Trades Summary September 18th 2020

 

 

EURAUD  – My idea here was “On the H4 chart, the price which is moving lower has created a bearish trend pattern in the form of three lower highs, lower lows. Generally, after a bearish trend pattern, we may expect correction and then further continuation lower. The correction that we were looking for happened in the form of double wave to the upside and the price reached a strong resistance zone formed by the 38.2%(1.62940) – 50%(1.63427) fibonacci retracement zones of the bearish trend pattern. We also had a bearish divergence between the first high that has formed at 1.63250 and the second high that has formed at 1.63527 based on the MACD indicator. And the price which bounced from this strong resistance zone has currently broken below the most recent uptrend line and is holding below it. We may consider these as evidences of bearish pressure. In addition to this, the ADX indicator gave a bearish signal at the cross of -DI (red line) versus +DI (green line), and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bearish pressure. So based on all this, my short term view is bearish here and I expect the price to continue lower further”.

Weekly Trades Summary September 18th 2020Current Scenario – After the breakout of the most recent uptrend line, currently it looks like a pullback is happening. Once this pullback completes itself, I still expect the price to continue lower to the downside.

Weekly Trades Summary September 18th 2020

 

 

EURJPY – My idea here was “We have a head and shoulders pattern that has formed and a valid breakout below the neckline of this pattern would be a good sign for further continuation lower. So based on all this, my view here is bearish and I expect the price to continue lower further”.

Weekly Trades Summary September 18th 2020Current Scenario – The price moved as per my plan here. The neckline breakout of the head and shoulders pattern happened as I expected it to and then the price which moved lower has delivered 100+ pips move so far.
Weekly Trades Summary September 18th 2020You can see this move clearly on the H4 chart below:

Weekly Trades Summary September 18th 2020

 

 

NZDCHF – My idea here was “On the H4 chart, the price which is moving higher has created a bullish trend pattern, which we may consider as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. Also while measuring the bullish trend pattern using the fibonacci retracement tool we have a strong support zone that has formed based on the 38.2%(0.60785) – 50%(0.60458) fibonacci retracement zones. The price which was moving lower reached this strong support zone, respected it, and is currently moving higher. We also had a continuing bullish divergence between the first low that has formed at 0.60849 and the second low that has formed at 0.60382 based on the MACD indicator which we may consider as evidence of bullish pressure. Also, the price which is moving higher has currently broken above the most recent downtrend line and is holding above it, we may consider this as another evidence of bullish pressure. In addition to this the ADX indicator gave a bullish signal 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. So based on all this, my view is bullish here and I expect the price to continue higher further”.Weekly Trades Summary September 18th 2020Current Scenario – Based on the above-mentioned analysis my view was bullish here and I was expecting the price to continue higher further. The price action is following my analysis and is moving higher exactly as I expected it to, my bullish view still remains the same here.

Weekly Trades Summary September 18th 2020

 

Trading View

Oil – My idea here was as follows:

Weekly Trades Summary September 18th 2020Current Scenario – The price action didn’t follow my analysis here and this idea failed as the price moved higher and created a bullish trend pattern in the form of three higher highs, higher lows. My current view on Oil is neutral.

Weekly Trades Summary September 18th 2020

 

 

GBPUSD – My idea here was as follows:

Weekly Trades Summary September 18th 2020Current Scenario – The price which was moving higher reached the strong resistance and moved lower as I expected it to and delivered around 140+ pips move before it retraced. Now price re-tests the same resistance zone, and might provide another opportunity next week.

Weekly Trades Summary September 18th 2020You can see this move clearly on the H1 chart below:

Weekly Trades Summary September 18th 2020

 

 

AUDUSD – My idea here was as follows:

Weekly Trades Summary September 18th 2020Current Scenario – My idea here was to look for pullbacks and then potential continuation lower. We got deeper pullbacks here in the form of double wave to the upside and then the price is currently moving lower as I expected it to. My bearish view still remains the same here.

Weekly Trades Summary September 18th 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 September 18th 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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