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Weekly Trade Ideas & Chart Analysis by EliteFxAcademy 24th of February, 2020

By February 23, 2020 April 23rd, 2020 No Comments

By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on February 24th, 2020

All charts illustrated are traded on lower timeframes (W1 and D1, H4). 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 24th of February, 2020. (can take more time)

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 System, 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:

 

AUDUSD – Follow the right flow idea

Trend: Sell/ Neutral

Support/Resistance:

R3: 0.67793

R2: 0.66750

R1: 0.66594

S1: 0.65336

S2: 0.64412

Price action:

At current flow, market is looking bullish for short term decision (lower timeframes). But because our prediction is focused on long term decisions, we are expecting price to still continue trending way lower.

First price has to proved new resistance on daily or even on weekly timframe. This trade might take a time

Between 0.66750 and 0.66594 levels is neutral zome

Right now potenical sell idea is expected to be ready in late days.

Potencial trade idea:

Bulls targets:

T1: 0.65336

T2: 0.64412

NOTE – We are trading AUDUSD via the preferred trading setups

 

CADJPY – bulls need one more prove

Trend: Strong Buy

Support/Resistance:

R3: 86.789

R2: 85.952

R1: 84.571

S1: 83.569

S2: 82.633

Price action:

CADJPY currency pair closed bellow very important resistance level. If price will break that level then strong buy is proved, but if not, then we sellers might push price to support levels. We recomend you to follow daily video udates

Potencial trade idea:

Bulls targets:

T1: 85.952

T2: 86.789

NOTE – We are trading CADJPY via the preferred trading setups

 

USDJPY – Buyers slaps sellers by strong power

Trend: Strong Sell

Support/Resistance:

R3: 115.944

R2: 113.725

R1: 112.247

S1: 111.418

S2: 111.800

Price action:

USDJPY currency pair has already broken and proved buyers trending idea as expected. We can follow buyers longterm potencial targets if the price can break R1 and hold above. This is dificult to success after new week. But to see different way for new buy, then price have to stay above first support level and then buy will be prove.

Potencial trade idea:

Bulls targets:

T1: 113.725

T2: 115.944

NOTE – We are trading USDJPY via the preferred trading setups

 

BTCUSD – Buyers might take over. It’s just matter of time.

Trend: Buy/ Neutral

Support/Resistance:

R3: 10949.54

R2: 10375.49

R1: 10070.02

S1: 9255

S2: 9056

Price action:

BTCUSD is at current level neutral from decisional spot perspective. Overall market is bullish, but for proving spot we need more facts then just say this is buy. If the price can break first resistance level and hold above, then price might touch 11k. If sellers has to closed gap then price is likely to touch lower support zone between 9255 and 9056 support level. If sellers will reach this level, then buyers will be active after breaking 9255 current support level.

Price between first resistance and second resistance is neutral area. At that point momentum flow is helpless, but watch out closelly retracement from broken one of those levels.

Because of less facts, it is hard to tell how the price will react straight away, but overall more speculated ways will give you higher value and bigger picture.

Potencial trade idea:

Bulls targets:

T1: 10070.02

T2: 10949.54

NOTE – We are trading BTCUSD via the preferred trading setups

 

SILVER/USD– Buyers one litle finger away to apocalypse

Trend: Sell/ Neutral

Support/Resistance:

R3: 21.023

R2: 19.624

R1: 18.663

S1: 18.000

Price action:

XAGUSD pair is at cuurent level very bullish and our expectation is the same, because of very strong momentum from buy side; lack of sellers power; First step of buyers trending has been proved. Next step for getting into this trade is to break last daily high and weekly high level. Then just follow potencial targets we designed for you. Plus more, it is possible for Silver to reach even higher levels.

Silver is one of the smartest investment at that point, because it is wonder and it’s underpriced.

 

Bull targets:

T1: 19.624

T2: 21.023

NOTE – We are trading SILVER/USD via the preferred trading setups

 

You are welcome to our Academy anytime. We’re here to help you achieve what you have been looking for.

Use our free analysis where you have everything you need for potencial trade ideas and profit.

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