Weekly Trade Ideas & Chart Analysis by EliteFxAcademy 1th of March, 2020
By EliteFxAcademy in Forex trading articles presented as trade advice & ideas by Martin Mohar on March 1, 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.
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:
BTCUSD – Sellers are extremly strong by momentum
Trend: Sell/ Neutral
Support/Resistance:
R2: 10028
R1: 9078.50
S1: 8255
S2: 7678
Price action:
BTCUSD is at current level neutral from decisional spot perspective. Overall market is still bullish, but for short term decision we are more bearish. Decision, when is the right time to sell Bitcoin or buy it, is when price will break up and down support or resistance. Once price will break one of those, then we'll know where is our dirrection.
Potencial trade idea:
Bulls targets:
T1: 10028
Bears targets:
7678
NOTE – We are trading BTCUSD via the preferred trading setups
AUDUSD – Follow the right flow idea
Trend: Sell/ Neutral
Support/Resistance:
R3: 0.68246
R2: 0.66717
R1: 0.65818
S1: 0.64330
S2: 0.62864
Price action:
At current flow, market is in bearihs flow. But because buyers bounced from 0.64330 new support level very strong, then we can expect short correction for now to 0.65818 resistance level. From overall perspective, flow will continue after breaking weekly lower low at 0.64330 to 0.62864.
Potencial trade idea:
Bulls targets:
T1: 0.65818
Bears targets:
T1: 0.62864
NOTE – We are trading AUDUSD via the preferred trading setups
CADJPY – We can expect retracement from that bearish momentum
Trend: Sell/ Neutral
Support/Resistance:
R3: 84.332
R2: 82.244
R1: 81.480
S1: 80.251
S2: 78.879
Price action:
CADJPY currency pair closed bellow very important resistance level. If price will break that level then Sell will continue. First we can expect price to get higher to first resistance level at 81.480 then, Selllers might continue their way to Lower Low.
Potencial trade idea:
Bulls targets:
T1: 81.480
T2: 82.244
Bears targets:
T1: 78.879
NOTE – We are trading CADJPY via the preferred trading setups
EURUSD – How strong are buyers?
Trend: Strong Sell
Support/Resistance:
R3: 1.10364
R2: 1.10141
R1: 1.10141
S1: 1.09572
S2: 1.09269
S3: 1.07715
Price action:
EURUSD currency pair is potencial if price can hold above first resistance level. If not then it is better to wait. But overall flow from buyers perspective has to rest for a while, to continue way up. So if price can break below first support level, then we can follow bears targets.
Potencial trade idea:
Bulls targets:
T1: 1.10141
Bears targets:
T1: 1.09572
T2: 1.07715
NOTE – We are trading EURUSD via the preferred trading setups
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