TheFxAce

TheFxAce Updated 

The XRP chart is shaping up to be quite intriguing following the massive breakout from the weekly accumulation period. So, what's next on the horizon? The charts are indicating that now might be an excellent time to consider re-entering this pair. The colossal breakout not only breached the Monthly SUPPLY/SELL zone that was formed last year but also underwent its...

TheFxAce

Examining the Monthly and Weekly charts, it's clear that this pair is on the verge of some critical areas on the higher timeframes – an exciting potential for spotting favorable selling opportunities. The first hotspot revolves around the Monthly resistance area at 1.822. Remarkably, just yesterday, the price came incredibly close to tapping this level. It's...

TheFxAce Updated 

Predicting market peaks and turning points is always a challenging task, made even more daunting when a financial asset is achieving unprecedented highs without any clear resistance or sell-off zones to reference. This challenge is even more pronounced when this situation occurs with a forex pair, as is currently happening. This is a true test of your trading...

TheFxAce Updated 

The 2020 flash crash low of 0.53 is nearing, so I'm beginning to accumulate a long-term position. The reasons for this trade include the imminent approach of the flash crash low. You'll notice that the price is gradually declining towards this level. Every time a new low is established, buyers enter the market and push prices back up, a clear sign that an upward...

TheFxAce

We are currently witnessing a gradual descent from the Monthly spike that occurred in February 2020. On the lower time frames, the price action has become quite choppy, with each new low promptly followed by a quick retracement upward. This choppy behavior suggests the possibility of a long-term reversal in the making. I have identified two key targets that the...

TheFxAce Updated 

This currency pair presents an intriguing opportunity as it breaks through the long-term monthly support. However, confirmation of this breakout will depend on the closing of the candle at the end of the month. On the weekly charts, the price briefly dipped below 0.86 before closing the week above it. This level holds significance as it aligns with the weekly...

TheFxAce Updated 

"We have broken out of the 1.11 level, with the price showing signs of being excessively overbought on the lower timeframes. As we approach the weekly swing high from 2022 at 1.118, we can anticipate a short-term retracement below 1.11. Therefore, I am currently seeking a short-term selling opportunity, watching for signals on my TRFX indicator above 1.115. My...

TheFxAce Updated 

Looking at this pair, I'm getting the impression that a deeper correction might be imminent. Initially, the breakout from the 88 area wasn't convincing at all as it didn't exhibit significant follow-through, despite the fact that last week it touched a new high @89.700, marking the commencement of a Monthly SUPPLY/SELL zone. A solid signal that a reversal could...

TheFxAce Updated 

This pair has been on quite a rally lately, showing strong signs of breaking out from the stubborn 1.92 resistance level that has held firm for quite some time. You can easily spot this level as it's marked by the trusty green dotted line on the chart. However, before we get too excited about this breakout, it's important to consider a potential fake-out...

TheFxAce Updated 

We finally got the breakout of the resistance level @ 1.267 so what next ?? Personally, I'm exclusively focused on buying this pair, but with a calculated approach. We will be waiting for a pullback , as it presents an optimal entry point. On the chart, I've marked a potential buying scenario, where I anticipate a retracement towards the breakout area. Ideally,...

TheFxAce

I'm getting ready to buy this pair, keeping an eye out for a potential dip down to around 0.666. This area is the newly created weekly demand/buy zone that caused the break and close above the weekly long term trend so is a good area to get back long My game plan here is pretty simple: is too buy during the dip down to the breakout region. I've pegged the targets...

TheFxAce Updated 

We have now reached a critical area as the price approaches the 184 level, which marks the beginning of the Monthly SUPPLY/SELL level I discussed in my previous post. This area was I expected to be a target for bulls, although I anticipated a correction before reaching this level, which has not happened yet. The 184 level holds key significance as it also...

TheFxAce Updated 

In the Daily charts, we've now retraced 100% of our last leg up . You can see right below the starting point of the leg up, we have a Weekly Demand/Buy zone beginning around the 0.875 level. Bulls might find this an enticing target for market entry, on a bullish signal. This area could potentially be a 'STOP HUNT' zone. As we all know how retail traders often set...

TheFxAce Updated 

We're approaching a key area on the chart that holds massive potential. It's the Monthly SUPPLY/SELL zone, a zone that emerged in 2020 during the chaos of CV when we witnessed an incredible near 1000 pip spike in just minutes, reaching an astounding 2.17. While revisiting those levels may be unlikely, we have a great short opportunity. Here's what I want to see...

TheFxAce

Quick update on yesterday's idea as expected we got the quick drop down towards 0.875 and then the quick move up with my TRFX indicator giving the bullish signal. Please read related post on the detailed analysis

TheFxAce Updated 

The Dragon has been absolutely on fire these past few days, fueled by the pound's strength and the yen's weakness. Unfortunately, my trading idea for this week turned out to be a total bust, and I got stopped out pretty darn quickly :( It happens, though. Ups and downs are part of the game. But hey, let's take a step back and reanalyze this pair. We need to zoom...

TheFxAce Updated 

Looking at this chart we have to go back all the way to 1980 to see the last time price was this high we have entered the Monthly SELL/SUPPLY zone that was created in that Year looking like it could go all the up towards 158 I will start to look for SELL signals as we go above 154 using the TRFX indicator on the daily charts this is a long term trade idea going...

TheFxAce Updated 

Are you primed to SELL this pair as it makes its final ascent above 95, anticipating a brisk drop to 93? The logic behind this setup is pretty simple. Take a look at the weekly charts. You'll see a pattern where every time price has busted through 95, it's been hit with a sharp sell-off. This tells us that 95 is a tough wall to break for the big traders also it's...