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

By November 7, 2019 November 13th, 2019 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on November 8th, 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 for 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 trending caught between daily channel

Trend: Strong Buy

Support/Resistance:

R3: 1.09128

R2: 1.08901

R1: 1.08635

S1: 1.08206

S2: 1.07998

S3: 1.07798

Price action:

Buyers are showing strong performance. From previous day price touched high level and rebounded from overall daily channel. Price did a faker but still might go long position, because daily candle was closed above 1.08206 level.

Potencial trade idea:

Bulls targets:

T1: 1.08635

T2: 1.08901

T3: 1.09128

Bears targets:

T1: 1.07998

T2: 1.07798

NOTE – We are trading AUDNZD via the preferred trading setups 


XAUUSD – Gold started showing sellers results stronger

Trend: Sell/ neutral

Support/Resistance:

R2: 1510.49

R1: 1477.05

S1: 1464.71

S2: 1444.08

Price action:

Gold started showing sellers results stronger. Buyers didn’t rebounce much, which means that sellers have advantage from previous daily close. If the price maintain below 1464.71 level, then sell will continue. But because it is friday, it is unneccessary that the price will move much.

Potencial trade idea:

Bulls targets:

T1: 1477.05

Bears targets:

T2: 1444.08

NOTE – We are trading XAUUSD 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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