Supply Demand Technical Analysis

Price went to the area but it float around 100 pips before going down around 350+ pips. Congrats for those who held the moment it hit the area. Now, just look for another selling opportunity.

 

As you can see here, the price didn't make a new low, so I put a trendline there to make sure the downtrend is pretty much confirmed later on. I also waiting the price to hit this area.

 

Another one for consideration, USDCHF where you can try to look for buying opportunities around this demand area. Just wait, don't just sell and expect low risk since it's on weekly timeframe.

 

GBPUSD for the next year, I can only look at this based on supply and resistance in the same area. Lookout for any price action since the price is approaching a bit faster by now.

 

Another swing opportunity is on USDJPY where price made compression price action and we will wait around this demand area for early buying opportunity.

 

A bit unfortunate for this as the setup failed. But if you apply good risk management, your loss will be recovered with other setups later on.

 

Still waiting long term setups. I will put another update on USDCHF where the price hit the demand area last week. You can look for buying opportunity by zooming in to lower timeframe.

 

You can look for sell setup on lower timeframes on EURUSD where the price hit the supply area. You can refer to this markings...

 

Update on Gold as the price created a gap for a stronger buying momentum. But I am still waiting around these supply area for selling opportunities. Wait and see any confirmation.

 

Another update is on GBPUSD where the price is about to hit the supply area. You can try to put a sell limit with SL around 100 pips. This can be a swing trade setup with a target around 200 pips or more.

 

I have no strong setup on USDCAD. But if you want to trade this pair anyway, look for any retrace around this area to do sell.

 

On the higher timeframe, I can only see 'fakeys' for buying opportunities. But it is still a bit far. You can refer to this chart.

 

This week let's start with several pairs to watch. USDCHF is the first one to watch around this supply area to sell. You might want to look for buying opportunities in the lower timeframes.

 

Another one is EURUSD where I might expect the price to go down to this demand area and then going back up. Again, don't set any buy/sell limits just yet. Wait for any price action.

 

Another update on USDJPY. Still on its compression pattern and wait for any confirmation on this demand area.