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Weekly Trade Ideas & Chart Analysis by EliteFxAcademy January 27th, 2020

By January 27, 2020 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on January 27th, 2020

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 27th of January 2020 and could take longer.

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.

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

 

MARKET OVERLOOK

FUNDAMENTALS

Disclamer: If we’re not save in trade yet, then it is more save to wait for a currency pair after news are reliased for this particural currency. This might be a short correction, or price will give us moving dirrection after news will be reliased.

Weekly Currencies Heat Map

 

TEHNICAL ANALYSIS

ETHUSD – Ethereum on bullish side on the way to testing following levels

Trend: Buy/ Neutral

At the moment: Buy/ Neutral

Price now: 167$

Support/Resistance:

R2: 179.60

R1: 172.65

S1: 164.85

S2: 162.15

S3: 158.10

S4: 151.90

Price action:

Ethereum is following bullish flow to following targets. As we can see sellers already failed to break lower on last swing low. Becasue of that fail, we can easily expact price to go back to higher high from retracement on level 164.85$

Potencial trade idea:

Bulls targets:

T1: 172.65

T2: 179.60

Bears targets:

T1: 158.10

 

NOTE – We are trading ETHUSD via the preferred trading setups by EliteFxAcademy


USOIL – Oil on the bearish side more then bullish…

Trend: Strong Sell

Price now: 54.24

Support/Resistance:

R4: 57.37

R3: 55.98

R2: 55.04

R1: 54.59

S1: 53.29

S2: 51.95

Price action:

Overall flow is bearish on WTI Crude Oil. We can expect price to bounce from first resistance level at 54.59 or 55.04. If the price can hold below this level and break again 54.59 supportical resistance level, we can follow potencial bearish targets. Because of weekly closing from last weekly candle, we can also see price to go straight to lower point. On the other side, if bulls are able to bounce back, their highest level to reach is 57.37 from this moment perspective.

Potencial trade idea:

Bulls targets:

T1: 1577.45

T2: 1588.15

Bears targets:

T1: 1540.16

T2: 1531.75

NOTE – We are trading USOIL via the preferred trading setups by EliteFxAcademy


NETFLIX INC – Buyers and sellers at decision spot for continuation

Trend: Strong Buy

Support/Resistance:

R3: 406.78

R2: 385.92

R1: 362.08

S1: 345.48

S2: 337.82

S3: 322.50

S4: 299.93

 

Price action:

Netflix had already proved buyers trending and now is testing very first resistance area at 362.08 level. This level is important to us, because it will tell us how strong is bearish side. After breaking this level, price is headed to test second resistance at 385.92 level. This level might be very strong if buyers will not show strong bullish momentum between R1 and R2 levels. In case of strong momentum we can expect price to go even higher to 406.78 resistance level.

On the other side, we recommend you to follow Bears behaviour. From this moment perspective we can say they are lack of momentum. In overall flow, we can say that good face off from Bears and Bulls is between R2 and R3 level.

Potencial trade idea:

Bulls targets:

T1: 385.92

T2: 406.78

Bears targets:

T1: 299.93

NOTE – We are trading NETFLIX INC via the preferred trading setups by EliteFxAcademy


EURJPY – Sellers on the way to test lower levels

Trend: Sell/ Neutral

Support/Resistance:

R4: 122.496

R3: 121.361

R2: 120.900

R1: 120.774

S1: 119.947

S2: 119.230

S3: 118.496

Price action:

At the momentu Eurjpy currency pair is between decisional are. This trade might take time to decide bullish continuation or bearish trending reversal. To follow this trade, we can say that price is still in buyers territory but bears are headed to achieve following target. If price will go berish way, then sellers have to broke first support and then they are going likely to test 118.496 strong buyers level. If the price get denied, then we can fall into a range flow for a while.

Potencial trade idea:

Bulls targets:

T1: 122.496

Bears targets:

T1: 119.947

T2: 119.230

T3: 118.496

 

NOTE – We are trading EURJPY via the preferred trading setups by EliteFxAcademy


 

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Good trading!

 

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