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Weekly Trade Ideas & Chart Analysis by EliteFxAcademy November 4th to 8th, 2019

By November 3, 2019 November 13th, 2019 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on November 3rd, 2019

 

All charts illustrated are traded on lower timeframes (W1 and D1). Bigger picture is related on higher timeframe, and lower timeframe is ment for making decisions. When is the right timing to use the right skills and strategy will tell you Elite strategy. Furthermore, this market analysis is continuation trade from weekly analysis. This analysis is in use from, 4th to 8th of November.

Keywords: Elite strategy, Custom Indicator, Fundamental Analysis, Tehnical analysis, Price action, Advanced strategies, Trading Education

MARKET OVERLOOK:

Fundamentals:

Disclamer: We have to wait for a currency pair to trade after news are reliased. This might be a short correction, or price will give us moving dirrection after news are reliased.

 

Weekly Currencies Heat Map

 

TEHNICAL ANALYSIS:

AUDUSD – buyers have open position

Trend: Strong Buy

Support/Resistance:

R4: 0.70222

R3: 0.69921

R2: 0.69492

R1: 0.69172

S1: 0.68977

S2: 0.68695

Price action:

Buyers continued price very confident to the price level at 0.69126, where last daily candle closed. Buyers might relaxed for a while and give a chance to sellers to their first support but overall market price is now at very good buyers position, which is more ment to buy Aud then sell.

Potencial trade idea:

Bulls targets:

T1: 0.69492

T2: 0.69921

T3: 0.70222

NOTE – We are trading AUDUSD via the preferred trading setups 


EURCHF – this pair is at risky level, where we have to wait for sell if we get sign

Trend: Sell/neutral

Support/Resistance:

R1: 1.10259

S1: 1.09775

S2: 1.08999

S3: 1.08375

Price action:

Buyers were keep going to break resistance level at ,but sellers showed first push few days ago very strong. If they will push again, then we know the answer, but if the buyers keep going and hold above first resistance level, then buyers will have open position.

Potencial trade idea:

Bears targets:

T1: 1.08999

T2: 1.08375

NOTE – We are trading EURCHF via the preferred trading setups 


NZDCHF – Sellers face off stronger, now we’ll get answer from them

Trend: Sell/ Neutral

Support/Resistance:

R2: 0.63647

R1: 0.63361

S1: 0.63069

S2: 0.62908

Price action:

Sellers retraced very strong this time from candle patterns. But still the market is in smaller timeframe in buyers era. Untill sellers retrased perfectly from second support, we can’t say, sellers overtook the market. But still is might be very good sell based on patterns we can see.

Potencial trade idea:

Bulls targets:

T1: 0.63647

Bears targets:

T1: 0.63069

T2: 0.62908

NOTE – We are trading NZDCHF via the preferred trading setups 


GBPJPY – Following Gbp trending is still showing performance to buy this pair

Trend: Strong Buy

Support/Resistance:

R3: 145.741

R2: 143.270

R1: 140.699

S1: 137.820

Price action:

Price hold above trending flow, which will first test Higher High levels and then we’ll see if Yen currency will deny again. Buyers are enough confidant to continue trending flow in buy way, but still depending on sellers answer retracement.

Potencial trade idea:

Bulls targets:

T1 = 140.699

T2 = 143.270

T3 = 145.741

NOTE – We are trading GBPJPY via the preferred trading setups 


Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.

Luka Lah

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