The Week Ahead - April 21st '24

🌟 Welcome to the Newsletter! 🌟

Following on from last week's themes, we successfully entered the trend on the following pairs: EURAUD, EURNZD, GBPAUD, and EURGBP. 📈🌍

However, despite strong setups on AUDUSD, NZDUSD, and USDCAD, we were unable to catch the entries. The newsletter explains the reasons why. 😔💡

AUDCAD and NZDCAD haven't set up properly, but we can clearly identify where we sit in the market cycle for these pairs. 🔍📊

For more insights, check out the @Melonstrade YT channel weekly update and blog videos. 🎥 They demonstrate how we organise chart information to create a condensed overview of WHAT to trade. 📈💡

While other traders may use different methods with more setups, this approach works for me. 😊 When you discover something that ignites your passion and drives you to explore further, the journey becomes captivating. 🔥

The power of three is real, and these charts are proof. 💪📈 Consistently calling the right direction might give you impostor syndrome, making you wonder if large trading houses are looking at the same stuff. It's truly powerful! 🚀💰

EUR/NZD

The pair has recently moved from the second zone of consolidation, with a higher low (HL) formed in line with the market cycle.

Our trade signal subscribers have been long on this pair since April 9th. We successfully entered the trend using a BREAK and RETEST strategy, allowing us to capitalise on the current market movement.

EUR/AUD

This pair presents another clear setup, with the market poised to exit the second consolidation zone (CZ2). We anticipate a third trend higher, similar to the pattern observed in EUR/NZD.

As the price breaks out of CZ2, we will be looking for potential entry opportunities to join the expected uptrend. 📈💡

For our trade signal subscribers, we sent alerts for this pair on two occasions: April 9th and April 16th. 📅✉️

GBP/AUD

This pair has presented another excellent setup that we have been discussing over the past few weeks and months. 📅💡

Currently, the market is situated in the second consolidation zone (CZ), and we anticipate higher prices in the near future. 📈

The chart is displaying a series of higher highs and higher lows, indicating a strong bullish trend. 💪📈

On the 1-hour timeframe, we can observe two distinct pushes higher, further confirming the market's upward momentum. 🕐⬆️

Moreover, a change and break of structure have been noted, suggesting that higher prices are likely to follow this week. 🔍📊

Given the current market conditions, we will be looking to add more to our existing position in GBP/AUD. 💰📈

For our trade signal subscribers, we sent alerts for this pair on April 4th and April 15th, ensuring they were well-informed and prepared to take advantage of this setup. 📅✉️

EUR/GBP

This pair beautifully demonstrates the effectiveness of our methodology. By analysing the market cycle, we can clearly identify where the price currently sits and observe a distinct harmonic AB=CD pattern. 📈💡

Although the image of the Gartley pattern was not provided, it's important to note that this pattern, along with a break and retest entry, has likely created the trade of the week for EUR/GBP. 🌟💰

However, it's worth mentioning that this pair typically has a lower Average Daily Range (ADR) compared to other currency pairs. 📊💱

Looking ahead, we anticipate a brief consolidation zone before potentially adding another entry to our position. 🔍📈

As always, we'll continue to monitor the market closely and keep our subscribers informed of any new developments or trade opportunities in EUR/GBP. 📺📩

In addition to the harmonic AB=CD pattern, we've recently witnessed a change and a break of structure in the EUR/GBP pair. 🔍💡

This significant shift in market dynamics has presented a potential entry opportunity for traders. 📈💰

A change and break of structure often indicate that the prevailing trend is likely to continue, providing further confirmation of our bullish outlook for EUR/GBP. 📉➡️📈

For our valued trade signal subscribers, we sent an alert for the EUR/GBP pair on April 17th

USD/CAD

USD/CAD is currently showcasing a textbook example of our trading methodology, displaying a pattern so clear and precise that it could be considered the Mona Lisa of charts. 🎨📈

The Market Cycle is beautifully evident in this pair, providing a roadmap for potential price movement. 🗺️💡

At present, USD/CAD is situated in the second consolidation zone (CZ), which, according to our analysis, strongly suggests that higher prices are on the horizon. 📈💰

We recognised this opportunity and entered a trade on April 4th, promptly sending an alert to our signal subscribers on the same day. 📅📩

Keep learning, stay motivated, and happy trading! 😄✨

Thanks for reading! 📚👀 

If this type of content piques your interest, come join the MelonsTrade Telegram group, where we regularly discuss setups and refine our skills in spotting these patterns. 🍉💬

Together, we can piece together the key components to pick high-probability trades. 🧩📈

Want to take your trading to the next level?

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