was successfully added to your cart.

Cart

Setups

Daily Trade Ideas & Chart Analysis by EliteFxAcademy October 5th to November 8th, 2019

By November 5, 2019 November 13th, 2019 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on November 6th, 2019

 

All charts illustrated are traded on lower timeframes (D1 and H4, H1). 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 daily analysis. This analysis is in use from November 6th to November 8th.

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

 

MARKET OVERLOOK:

FUNDAMENTALS:

Daily Currencies Heat Map

TEHNICAL ANALYSIS:

AUDCAD – Buyers still holding position

Trend: Strong Buy

Support/Resistance:

R3: 0.91210

R2: 0.91023

R1: 0.90841

S1: 0.90522

S2: 0.90224

Price action:

Buyers still holding position. From the last swing, buyers tested seller momentum to get answer from bears. Buyers handle price action above support level at 0.90841. If buyers will be enough strong to push price above first resistance level and return it to support, then we can see next targets at 0.91023 level and 0.91210 level.

On the other side, if sellers break support level at 0.90522 then they will continue price downside to level 0.90224.

Potencial trade idea:

Bulls targets:

T1: 0.91023

T2: 0.91210

Bears targets:

T1: 0.90522

T2: 0.90224

NOTE – We are trading AUDCAD via the preferred trading setups 


CHFJPY – Jpy currency is showing weakness from previous days and the trade might be continued by swiss currency.

Trend: Strong Buy

Support/Resistance:

R3: 111.497

R2: 110.800

R1: 110.169

S1: 109.779

S2: 109.384

Price action:

Buyers might continue move higer if buyers break resistance level at 110.169. If we hold above this level then price might see targets such as 110.800 level and higher at 111.497 level. If buyers would dismissed momentum then sellers target is at buyers support at 109.384.

Potencial trade idea:

Bulls targets:

T1: 110.800

T2: 111.497

Bears targets:

T2: 109.384

NOTE – We are trading CHFJPY via the preferred trading setups 


EURAUD – Sellers trending is on the way and the reason could be news announcement.

Trend: Strong Sell

Support/Resistance:

R3: 1.61423

R2: 1.61139

R1: 1.60770

S1: 1.60108

S2: 1.59538

Price action:

From previous day sellers led and give us a reason to sell even more, but the price has to hold below resitance level at 1.60770. Sellers targets are next to first and lower to second buyers support where buyers might give us information about their next move.

If the price change first resistance level to support, then buyers might test second resistace level at 1.61139.

Potencial trade idea:

Bulls targets:

T1: 1.60770

Bears targets:

T1: 1.60108

T2: 1.59538

NOTE – We are trading EURAUD via the preferred trading setups


EURGBP – Sellers trending might continue soon

Trend: Strong Sell

Support/Resistance:

R3: 0.87143

R2: 0.86645

R1: 0.85998

S1: 0.85402

Price action:

We are waiting for holding price below new resistance level at 0.85998. If price will bunce from this level, we can see bears targets to 0.85402. If buyers are able to break resistance level at 0.86645, then they might continue to 0.87143 resistance level.

Potencial trade idea:

Bulls targets:

T1: 0.87143

Bears targets:

T1: 0.85402

NOTE – We are trading EURGBP via the preferred trading setups 


GBPCAD – Buyers to test higher high first

Trend: Buy/ Neutral

Support/Resistance:

R2: 1.72171

R1: 1.70660

S1: 1.68964

S2: 1.67298

Price action:

Price action give us information about flow of the market and understanding psychology of the market. So this trade is handling with buyers channel, which meand buyers are stronger in this case then sellers. On the other side, sellers were tested buyers power, which gives us a bit risky information about this trade. But because we know Gbp currency market is very powerfull at the moment, we can see potencial target to the last Higher High level at 1.70660. If we break this level, then next target is higher at 1.72171 level.

If buyers are not ready for that strong try, then sellers will maintain price around support level at 1.67298.

Potencial trade idea:

Bulls targets:

T1: 1.70660

T1: 1.72171

Bears targets:

T1: 1.67298

NOTE – We are trading GBPCAD via the preferred trading setups


GBPCHF – Buyers started following power of Gbp currency.

Trend: Buy/ Neutral

Support/Resistance:

R2: 1.29594

R1: 1.28518

S1: 1.27640

S2: 1.27036

S3: 1.26425

Price action:

Price is headed to test last Higher High by buyers momentum. If the price will break first resistance, it might go higher to achieve second target at 1.29594. If first test to last higher high is denied then sellers will test second support level at 1.27640. If sellers achieve second support and change it to resistance level, then price might change its way.

at 1.67298.

Potencial trade idea:

Bulls targets:

T1: 1.28518

T2: 1.29594

Bears targets:

T1: 1.27036

T1: 1.26425

NOTE – We are trading GBPCHF via the preferred trading setups 


USDJPY – Buyers became leaders at the moment

Trend: Strong Buy

Support/Resistance:

R2: 110.295

R1: 109.718

S1: 109.049

S2: 108.803

S3: 107.787

Price action:

In this trade idea, you can see how buyers were pushing price without any swing/denial by sellers. Actually buyers break sellers, before sellers were able to handle position at level 108.803. So buyers has to maintain above first support level at 109.049, to lead price higher to next Bulls targets.

Potencial trade idea:

Bulls targets:

T1: 109.718

T2: 110.295

NOTE – We are trading USDJPY 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

About Luka Lah

Leave a Reply