Rafael Ken Aguilar
@rafaelken1989 · Joined in Dec 2020
5th Year in Trading, Fund Manager, Trading Strategist, Content Contributor, Into Crypto, CFD and Forex Markets.
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Rafael Ken Aguilar
Aug 30 2024
USDCNH Intraday Analysis and Trading Plan for August 30, 2024
While USDCNH is inviting a discounted level on the 4H chart, I am bearish on the yearly view suggesting a long-term double top has been confirmed further.
As a result, my August 21 short trade plan has exited in profit after holding for 8 hours and 21 hours:
https://www.finlogix.com/analysis/20240821/usdcnh-intraday-analysis-and-trading-plan-for-august-21-2024
A new overall record of 1 win and 2 losses.
Happy Friday.
Upcoming High-Impact Economic Reports
The US is set to have 1 remaining high-impact economic report tonight while one for China on Saturday.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing USDCNH’s high timeframe candles:
Yearly Candle: Last check is a Green Semi Gravestone Doji now a Red Inverted Hammer
Monthly Candle: Still a Red Body since last check but with a Longer Head Wick
Weekly Candle: Previous close is a Red Body with a Longer Head Wick current is a Red Long Upper Shadow with a Big Body
Daily Candle: Previous close is a Red Body with a Longer Tail Wick current is Red Spinning Top
So, I nailed my previous short analysis.
It is important to track where USDCNH may head next.
There’s an uptick in the US’ prelim GDP quarter-on-quarter basis as well weaker Unemployment Claims resulting in a DXY bounce off but not for the USDCNH directly.
But my prediction for tomorrow’s Chinese Manufacturing PMI will be stronger data that will help CNH to rally against the US dollar.
I’m still referencing the swing low to high moves from the previous up wave last May 3 to July 3 as the retracement points of view, especially the bearish extension levels.
The recent sell-off this week was the PoD from a descending triangle pattern which caused a new lower low and a potential deeper down wave.
Trade Plan
While the current 4H candle is weak, rejecting the 7.0830 level, I am going to short it.
Sounds a bit off knowing that USDCNH is already oversold but I’m looking at the long-term trend now that the yearly has confirmed a double-top pattern.
Here are the selling details:
Sell Entry: 7.0780
Stop Loss: 7.1000
Take Profit: 7.0380
Risk to Reward Ratio: 1.82
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
If right, I am going to be rewarded for shorting USDCNH again.
Good luck and see you around.
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 30 2024
AUDUSD Intraday Analysis and Trading Plan for August 30, 2024
AUDUSD bulls prepare for a bigger up move aiming to break the February 2021 down trendline. The 0.70 level is back on the horizon!
As a result, my August 20 long trade has exited in another profit after holding for 6 days and 20 hours:
https://www.finlogix.com/analysis/20240820/audusd-intraday-analysis-and-trading-plan-for-august-20-2024
An updated overall record of 6 wins and 8 losses.
Happy Friday.
Upcoming High-Impact Economic Reports
The US is set to have 1 upcoming high-impact economic report while none in Australia tonight.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing AUDUSD’s high timeframe candles:
Yearly Candle: Last check is a Red Long Lower Shadow now a Red Semi-Dragonfly Doji
Monthly Candle: Still a Green Body with a Longer Tail Wick since last check
Weekly Candle: Previous close is a Green Body with a Slightly Longer Head Wick current is a Green Long-Legged Spinning Top with a Small Body
Daily Candle: Previous close is a Green Long Upper Shadow with a Medium Body current is a Green Long-Legged Semi-Doji
In today’s analysis, I will still reference the swing high to low moves from July 11 to August 5 as the retracement points of view, especially the bullish extension levels.
The way I see the AUDUSD 4H chart right now is that its bulls are preparing for a massive breakout to end the down trendline in February 2021.
The current price level is flirting with the July 11-12 external high after breaking it this week and if the intraweek candle closes above it or within its range, it will back my bullish thesis.
Furthermore, the 0.68 level is must flipped area into a support if AUDUSD wants to go higher above 0.70.
Trade Plan
In today’s trade plan, I would like to open a new long position again with a clear intention of aiming for the 0.70 level as take profit exit.
I will enter through the mentioned current flirting consolidation while putting a considerable stop loss.
Here are the new long order details:
Buy Entry: 0.6789
Stop Loss: 0.6689
Take Profit: 0.6999
Risk to Reward Ratio: 2.10
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
Let’s see how this one goes and good luck once more.
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 29 2024
Bitcoin Intraday Analysis and Trading Plan for August 29, 2024
Bitcoin lost the bullish 4H FVA mid-intraweek, becoming another layer of resistance levels. The current consolidation range awaits a PoD to re-test it first before potentially going lower again.
As a result, my August 26 long trade plan has exited in loss after holding for 22 hours only:
https://www.finlogix.com/analysis/20240826/bitcoin-intraday-analysis-and-trading-plan-for-august-26-2024
An updated overall record of 5 wins and 7 losses respectively.
Happy Thursday.
Upcoming High-Impact Economic Reports
The US is set to have 3 high-impact economic reports this week starting tonight.
The crypto markets, including XLM, traded lower this week, fully giving up its gains from last week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing BTCUSD’s high timeframe candles:
Yearly Candle: Still a Green Body with a Longer Head Wick since last check
Monthly Candle: Last check is a Red Semi Dragonfly Doji now a Red Long Lower Shadow
Weekly Candle: Last check is Red Long Lower Shadow now a Red Body with a Longer Tail Wick
Daily Candle: Previous close is a Red Long-Legged Spinning Top with a Small Body current is a Green Spinning Top
In today’s analysis, I’m still using July 29 – August 5 swing high to low moves as the retracement points of view.
The entire global market including the crypto sector is eyeing the important US Unemployment Claims which could be a deciding factor of where Bitcoin’s price is heading next.
The selling pressures seen in the mid-intraweek have completely lost the bullish 4H FVG mentioned on Monday and now await a re-test first if the current consolidation range breaks the 50% fib level as internal resistance.
There’s a bearish gap between the consolidation range and the flipped 4H FVA with immediate resistances found on 50% and 61.80% fib levels.
My bias is that the Unemployment Claims data tonight will be higher than analysts’ forecast which can create a new push-up move to re-test the lost 4H FVA.
Otherwise, the opposite outcome could send Bitcoin back to the 54-55K levels again.
Trade Plan
My prediction before 2024 ends for a 6-digit Bitcoin never fades.
So, I like to open a new long setup again.
These are the details:
Buy Entry: 59450
Stop Loss: 57050
Take Profit: 63050
Risk to Reward Ratio: 1.50
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
Hoping my analytical bias is right.
Good luck and see you in my next analyses.
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 29 2024
XLM Intraday Analysis and Trading Plan for August 29, 2024
XLM is still trading in a descending channel after topping out this week.
As a result, my previous August 9 long trade has exited in another loss after holding for 12 days and 22 hours:
https://www.finlogix.com/analysis/20240809/xlm-intraday-analysis-and-trading-plan-for-august-9-2024
A new overall record of 2 wins and 8 losses.
Happy Thursday.
Upcoming High-Impact Economic Reports
The US is set to have 3 high-impact economic reports this week starting tonight.
The crypto markets, including XLM, traded lower this week, fully giving up its gains from last week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing XLMUSD’s high timeframe candles:
Yearly Candle: Last check is a Red Long-Legged Spinning Top now back to Red Spinning Top
Monthly Candle: Last check is a Green Dragonfly Doji current is a Red Long Lower Shadow
Weekly Candle: Previous close is a Green Body with a Longer Head Wick current is a Red Body with a Longer Tail Wick
Daily Candle: Previous close is a Red Long-Legged Doji current is a Green Body with a Longer Head Wick
XLM moved to the downside on the weekly view, not allowing a weekly double top pattern at least.
Based on my experience, the overall trend especially the long term is to the upside, the downfall we saw this week is but a mere pullback only.
I am still using the July 5-17 swing low to high moves as the retracements’ points of view.
This move has depicted an up wave and the current descending channel is the counter-trend.
If the buyers win the PoD out of this channel, the latter can lead to an upside move seeking to liquidate the retracement point’s peak.
I’m biased to the upside for now.
Trade Plan
The 38.20% fib level supported and prevented a continuous drop this week.
The price has rebounded multiple times on that level and based on this move, I like to open a new long position again with the following details:
Buy Entry: 0.0921
Stop Loss: 0.0891
Take Profit: 0.1021
Risk to Reward Ratio: 3.33
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
By entering at the current reddish 4H candle, the stop loss is strategically set at a possible weekly lower low while taking profit at the descending channel’s breakout.
Good luck.
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
3
Rafael Ken Aguilar
Aug 28 2024
XRP Intraday Analysis and Trading Plan for August 28, 2024
XRP’s typical bullish 4H FVG steps in again creating another higher high divergence, the 0.70-0.75 range is back on track.
As a result, my August 20 long trade has exited in another loss after holding for 7 days and 8 hours:
https://www.finlogix.com/analysis/20240820/xrp-intraday-analysis-and-trading-plan-for-august-20-2024
An updated overall record of 11 wins and 18 losses.
Happy Wednesday.
Upcoming High-Impact Economic Reports
The US is set to have 3 high-impact economic reports this week starting tomorrow Thursday.
The crypto markets in general including XRP traded lower this week fully giving up its gains last week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing XRPUSD’s high timeframe candles:
Yearly Candle: Still a Red Long-Legged Semi Doji since last check
Monthly Candle: Last check is a Red Body with a Longer Tail Wick now a Red Long Lower Shadow
Weekly Candle: Previous close is a Green Long Upper Shadow with a Big Body current is a Red Long Lower Shadow
Daily Candle: Previous close is a Red Spinning Top current is a Green Body with a Longer Tail Wick
Yes, XRP traded lower intraweek through yesterday’s swing low but the 4H bullish FVG that formed in August 7-8 has caused a buying reaction again!
This week’s low has almost hit the 50% fib level from the price manipulation’s down wave as the retracements’ points of view in today’s analysis.
This move is not allowing a bearish slide below the 0.54 level.
Otherwise, it could lead XRP’s price back to the 0.50 level minimum.
I’ve kept the higher high and low trendlines as the next key target range once we see XRP move up big time again.
But to do this, the bulls must break the local 0.60-61 resistance levels first before we talk about the 0.70-75 range.
This bullish ascending channel is still promising in time.
Trade Plan
Today’s trade plan is a new long entering through the 4H 200-SMA with a 75% retracement of the 4H bullish FVG as a stop loss while targeting the take profit at the 0.64 level.
Here are the order details:
Buy Entry: 0.5735
Stop Loss: 0.5275
Take Profit: 0.6435
Risk to Reward Ratio: 1.52
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
A decent 1.50 risk-to-reward trade setup.
Good luck and let’s go!
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
1
Rafael Ken Aguilar
Aug 28 2024
Bitcoin Cash Intraday Analysis and Trading Plan for August 28, 2024
Bitcoin Cash printed a new 3-week low but despite the recent fall this week, targeting the 400 level is still promising.
As a result, my August 12 long trade plan has exited in loss after holding for 15 days and 9 hours:
https://www.finlogix.com/analysis/20240812/bitcoin-cash-intraday-analysis-and-trading-plan-for-august-22-2024
An updated 1-5 win-loss record.
Happy Wednesday.
Upcoming High-Impact Economic Reports
The US is set to have 3 high-impact economic reports this week starting tomorrow Thursday.
The crypto markets in general including Bitcoin Cash traded lower this week fully giving up its gains last week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing BCHUSD’s high timeframe candles:
Yearly Candle: Still a Green Long Upper Shadow since last check
Monthly Candle: Last check is a Red Long Lower Shadow with a Medium Body now a Red Body with a Longer Tail Wick
Weekly Candle: Previous close is a Green Body with a Longer Head Wick current is a Red Body with a Longer Tail Wick
Daily Candle: Previous close is a Red Body with a Longer Tail Wick current is a Green Spinning Top with a Longer Tail Wick
I’m still using the July 29 swing high to August 5 swing low moves as the retracement points of view for today’s analysis.
BCHUSD rebounded from the retracement’s 23.60% fib level completing the down wave from the latest rejection on the 50%.
If ever BCH loses this crucial support level, bears will fully come in again to seek the sell-side liquidity levels that are residing below the August 5 swing low.
While its price is still hovering in discounted zones, I’m biased to the upside speculating the 23.60% fib holds with a minimum target towards the 61.80% level.
Trade Plan
Today’s trade plan is to set a long limit order riding the current 4H green candle targeting the 400 mark after clearing the 61.80% fib resistance level.
In case the trade backfires, I am willing to set the stop loss at the 300 level only.
Here are the details.
Buy Entry: 322.00
Stop Loss: 302.00
Take Profit: 402.00
Risk to Reward Ratio: 4.00
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
A handsome risk-to-reward score of 4!
Let’s see how this one goes and good luck.
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 27 2024
EURUSD Intraday Analysis and Trading Plan for August 27, 2024
EURUSD is inching closer to re-testing 2023 highs after a spectacular bullish month of August!
While I still have an active trade, I like to add a new one:
https://www.finlogix.com/analysis/20240222/eurusd-intraday-analysis-and-trading-plan-for-february-22-2024
The overall standing record is 1 win and 11 losses.
Happy Tuesday.
Upcoming High-Impact Economic Reports
There are 4 upcoming high-impact economic reports in the US and 2 in Europe this week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing the EURUSD’s high timeframe candles:
Yearly Candle: Last check is a Small Red Hammer now a Green Long Lower Shadow
Monthly Candle: Previous close is a Green Long Upper Shadow current is a Green Body with a Longer Tail Wick
Weekly Candle: Previous close is a Green Body with a Longer Head Wick current is a Red Semi-Doji
Daily Candle: Previous close is a Red Spinning Top with a Longer Head Wick current is a Green Body with a Longer Head Wick
The Euro has turned its tables against the dominant US dollar after a convincing rally in late August!
The corrective down wave in the July 17 swing high to the August 1 swing low is the key suspect in sending the major pair higher.
This will be my retracements’ points of view in today’s analysis, especially the bullish fib extension levels.
However, looking at the current 4H wave structure, EURUSD is in an impulsive up wave after holding this year’s low last April.
With the 2024 higher low trendline remaining intact, nothing’s going to stop the EURUSD bulls from marching up.
Trade Plan
Based on the retracement points, the bullish 1.618 fib extension level was successfully broken through and the previous swing high became a new higher support already.
The next key level will be the bullish 2.618 fib extension after a possible drop of the current levels first.
Through this, I lay out a new long order with a 1.67 RRR only:
Buy Entry: 1.1145
Stop Loss: 1.1085
Take Profit: 1.1245
Risk to Reward Ratio: 1.67
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
Good luck on this one.
See you in my next analysis.
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 27 2024
Gold Intraday Analysis and Trading Plan for August 27, 2024
Gold’s bullish resilience remains to seek higher record highs soon.
While I have 2 pending trade plans, I like to share a new update for Gold:
https://www.finlogix.com/analysis/20240215/gold-intraday-analysis-and-trading-plan-for-february-15-2024
https://www.finlogix.com/analysis/20240326/gold-intraday-analysis-and-trading-plan-for-march-26-2024
My overall standing is 2 wins and 2 losses.
Happy Tuesday.
Upcoming High-Impact Economic Reports
There are 4 upcoming high-impact economic reports in the US this week starting tonight.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing Gold’s high timeframe candles:
Yearly Candle: Last check is a Red Body now a Green Body with a Longer Tail Wick
Monthly Candle: Previous close is a Green Body with a Longer Head Wick current is a Green Long Lower Shadow with a Medium Body
Weekly Candle: Previous close is a Green Long-Legged Semi-Doji current is a Red Long-Legged Semi-Doji
Daily Candle: Previous close is a Green Long Upper Shadow current is a Red Long Lower Shadow with a Medium Body
In today’s analysis, I will be using July 17 swing high to July 26 swing low as the retracements’ points of view.
Based on these retracements, the 4H bullish FVG indicated above became a flipped S/R area acting as a support level based on the previous flat rectangle consolidation range.
I’m focusing on the retracements’ bullish 1.618 fib extension level and if the current 4H candle holds up, my idea for another higher record high can play out.
However, it would take a massive selling to negate this bullish thesis with a need to fully retrace the mentioned 4H bullish FVG.
Trade Plan
My bias is to the upside and my trade plan is to enter a long position at the current 4H candle’s range with a 2.0 risk:reward setup.
Here are my latest buy entries to observe:
Buy Entry: 2510.00
Stop Loss: 2490.00
Take Profit: 2550.00
Risk to Reward Ratio: 2.00
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
I’m giving enough room for this trade to play out.
Good luck.
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 26 2024
Bitcoin Intraday Analysis and Trading Plan for August 26, 2024
Bitcoin upsets the bears after a strong buying reaction from its newly built bullish 4H FVA during intraday dips. The August 65650 resistance level will be challenged soon!
As a result, my August 9 long trade plan has exited in profit after holding for 13 days and 16 hours:
https://www.finlogix.com/analysis/20240809/bitcoin-intraday-analysis-and-trading-plan-for-august-9-2024
An updated overall record of 5 wins and 6 losses respectively.
Happy Monday.
Upcoming High-Impact Economic Reports
There are 4 upcoming high-impact economic reports in the US this week.
The crypto markets in general led by Bitcoin started a new uptrend again after a bullish previous week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing BTCUSD’s high timeframe candles:
Yearly Candle: Still a Green Body with a Longer Head Wick since last check
Monthly Candle: Last check is a Red Long Lower Shadow now a Red Semi Dragonfly Doji
Weekly Candle: Previous close is a Green Body with a Slightly Longer Head Wick current is a Red Long Lower Shadow
Daily Candle: Previous close is a Green Long Upper Shadow with a Small Body current is a Red Long Lower Shadow
In today’s analysis, I’m still using July 29 – August 5 swing high to low moves as the retracement points of view.
What’s stands in the line now against the Bitcoin bulls is the bearish 4H FVG that was merely re-tested last week in line with the August 65650 resistance level which the retracement’s 78.60% fib level.
However, the dips earlier were bought back strongly!
This is a strong indication of higher odds that the said resistance will be challenged again.
With the presence of a 4H bullish momentum candle as well, this solidifies the idea for another push-up move.
Unless the 61.80% fib level breaks down this week, it will spoil the newfound uptrend.
Trade Plan
My prediction before 2024 ends will be a 6-digit Bitcoin.
Yes, you heard it right! That’s a $100K Bitcoin price for you.
But today’s trade plan will not take profit on that level, far too ambitious.
I will enter at the current 4H candle’s opening price targeting the 67000 level while cutting the potential loss at the 61.80% fib level only.
Here are the details:
Buy Entry: 63739
Stop Loss: 62239
Take Profit: 67039
Risk to Reward Ratio: 2.20
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 26 2024
USDCAD Intraday Analysis and Trading Plan for August 26, 2024
USDCAD swept lower after Fed Chair Powell’s dovish remarks, the current down wave signals a deeper correction in the remainder of 2024 after losing 1.36 support level.
As a result, my August 19’s long trade plan has exited in another loss after holding for 20 hours only:
https://www.finlogix.com/analysis/20240819/usdcad-intraday-analysis-and-trading-plan-for-august-19-2024
A new overall record of 3 wins and 13 losses.
Happy Monday.
Upcoming High-Impact Economic Reports
There are 4 upcoming high-impact economic reports in the US and 1 in Canada this week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing USDCAD’s high timeframe candles:
Yearly Candle: Last check is a Green Body with a Longer Head Wick now a Green Long Upper Shadow
Monthly Candle: Last check is a Red Long Upper Shadow with a Medium Body now a Red Body with a Longer Head Wick
Weekly Candle: Previous close is a Red Body with Equal Wicks current is a Green Shaven Bottom
Daily Candle: Previous close is a Red Body with a Longer Tail Wick current is a Green Shaven Bottom
In today’s analysis, I switch back to July 11 swing low to August 5’s swing high as today’s retracements’ points of view, especially its bearish extension levels.
USDCAD has critically lost the 1.36 support level after Fed Chair Powell’s dovish remarks on Friday leaving a bearish 4H candle momentum.
With a weak intraweek opening, the current consolidation rally is likely to have a PoD to the downside which targets the 1.618 bearish extension level.
It’s highly impossible to reclaim the 1.36 support level magically understanding the Fed’s confirmed cutting of rates before 2024 ends.
For now, the US dollar is very weak versus the Canadian Loonie.
Trade Plan
In today’s trade plan, I am shorting USDCAD’s breakout rally attempt from its current consolidation.
There’s a big and wide 4H bearish momentum candle that stands in the way for the bulls.
By entering at the 1.3525 level, the take profit will be collected near the bearish 1.618 extension level while limiting the loss at 1.3550 only.
Here are the new long order details:
Sell Entry: 1.3525
Stop Loss: 1.3555
Take Profit: 1.3375
Risk to Reward Ratio: 5.00
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.
Conclusion
A very rewarding setup.
Let’s see how this one goes.
Good luck and have a great trading week ahead.
All trade ideas I share are my views and for my trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 24 2024
DJ30 Intraday Analysis and Trading Plan for August 24, 2024
DJ30 is inching closer in retesting July’s all-time record, upsetting August bears in the last 3 weeks of heavy buy backing.
As a result, my August 16’s short trade plan has exited in another loss after holding for 6 days and 23 hours:
https://www.finlogix.com/analysis/20240816/dj30-intraday-analysis-and-trading-plan-for-august-16-2024
An updated overall record of 5 wins and 7 losses.
Happy Saturday and weekend.
Upcoming High Impact Economic Reports
There are 4 upcoming high impact economic reports next week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing DJ30’s high timeframe candles:
Yearly Candle: Last check is a Green Spinning Top now a Green Body with a Longer Tail Wick
Monthly Candle: Last check is a Red Long Lower Shadow with a Small Body now a Green Semi Dragonfly Doji
Weekly Candle: Both previous and current are Green Bodies with Longer Tail Wicks
Daily Candle: Previous close is a Red Long-Legged Spinning Top current is a Green Body with a Longer Head Wick
Some traders are tempted to short the current levels seeing a triple top pattern in the making.
However, I’m looking the opposite way after Chair Powell’s dovish speech delivery on Friday.
After the previous down wave is completed convincingly, I will be careful if I'm going to short this pattern.
Looks pretty strong right now and odds are higher for another leg upward.
Lower high trendline seems nullified in Friday’s rally and I refocusing August 1’s swing high to August 5’s swing low’s retracement points of view, especially the bullish extension.
Trade Plan
Based on the recent bullish findings, I am switching back to a long position.
The DJ30 buyers are in control more and this recent up wave can turn to an impulsive one.
I am going to FOMO entering at the higher prices, setting the cut loss mark at the 78.60% fib level while taking profit at the 42250.
Price is still holding up staying bid mode with an intention to break the retracement’s swing high resistance.
Here are the details:
Buy Entry: 41179
Stop Loss: 40579
Take Profit: 42259
Risk to Reward Ratio: 1.80
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.
Conclusion
Let’s see how this one goes and good luck.
See you in my next analysis.
All trade ideas I share are my own views and for my own trades only.
Trading involves risks.
1
Rafael Ken Aguilar
Aug 24 2024
NAS100 Intraday Analysis and Trading Plan for August 24, 2024
The NAS100 has prevented a correctional week following Powell’s dovish remarks. Latest up wave is likely to push higher soon through a wide weekly bullish FVG’s presence.
As a result, my August 16’s short trade plan has exited in another loss after holding for 3 days and 15 hours:
https://www.finlogix.com/analysis/20240816/nas100-intraday-analysis-and-trading-plan-for-august-16-2024
An updated overall record of 7 wins and 9 losses.
Happy Saturday and weekend.
Upcoming High Impact Economic Reports
There are 4 upcoming high impact economic reports next week.
More economic events at:
https://www.finlogix.com/calendar
Intraday Analysis
Re-assessing NAS100’s high timeframe candles:
Yearly Candle: Last check is a Green Body with a Longer Head Wick now a Green Spinning Top
Monthly Candle: Still a Green Semi Dragonfly Doji with a Grown Body
Weekly Candle: Previous close is a Green Body with a Longer Tail Wick current is a Green Long Upper Shadow
Daily Candle: Previous close is a Red Body with a Longer Head Wick current is a Green Long Upper Shadow with a Big Body
In today’s analysis, I’m still using July 11 to August 5 swing high to low as the retracement points of view.
Previous down wave was complete through this week’s swing breakout above the 19000 level.
NAS100 reacted strongly from Fed Chair Powell’s dovish speech by disrespecting the 4H bearish FVG formed this week.
This looks weak and will be broken by next week to confirm the current up wave’s continuation.
August by far remains solid with 1 week left.
The disrespecting of the nearby bearish FVG mentioned may no longer allow the revisitation of the weekly FVG.
Last week alone also contained another impressive buy area through the 4H bullish FVG.
According to the retracement points, price is sandwiched between the 78.60% and 61.80% fib levels which both are not broken this week.
So, I’m all bullish for now.
Trade Plan
Worth a try to short NAS100 previously.
This time I am going to long again even the current price levels are hovering in the retracement points’ premium zone with the following new orders:
Buy Entry: 19685
Stop Loss: 18999
Take Profit: 20999
Risk to Reward Ratio: 1.92
Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.
Conclusion
Good luck once more.
All trade ideas I share are my own views and for my own trades only.
Trading involves risks.
