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.

The US is set to have 1 remaining high-impact economic report tonight while one for China on Saturday.

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

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.

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.

Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top-tier banks via ACY Connect.

If right, I am going to be rewarded for shorting USDCNH again.

All trade ideas I share are my views and for my trades only.

USDCNH 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.

The US is set to have 1 upcoming high-impact economic report while none in Australia tonight.

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.

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.

Let’s see how this one goes and good luck once more.

AUDUSD Intraday Analysis and Trading Plan for August 30, 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.

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.

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.

My prediction before 2024 ends for a 6-digit Bitcoin never fades.

So, I like to open a new long setup again.

Good luck and see you in my next analyses.

Bitcoin 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.

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.

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:

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.

XLM Intraday Analysis and Trading Plan for August 29, 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.

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.

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.

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.

A decent 1.50 risk-to-reward trade setup.

XRP 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

The crypto markets in general including Bitcoin Cash traded lower this week fully giving up its gains last week.

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

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.

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.

Let’s see how this one goes and good luck.

Bitcoin Cash Intraday Analysis and Trading Plan for August 28, 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.

There are 4 upcoming high-impact economic reports in the US and 2 in Europe this week.

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.

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:

EURUSD 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.

There are 4 upcoming high-impact economic reports in the US this week starting tonight.

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.

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:

I’m giving enough room for this trade to play out.

Gold Intraday Analysis and Trading Plan for August 27, 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.

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.

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

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.

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.

Bitcoin 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.

There are 4 upcoming high-impact economic reports in the US and 1 in Canada this week.

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.

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.

Good luck and have a great trading week ahead.

USDCAD Intraday Analysis and Trading Plan for August 26, 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.

There are 4 upcoming high impact economic reports next week.

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

Rafael Ken Aguilar

Rafael Ken Aguilar

Aug 30 2024

USDCNH Intraday Analysis and Trading Plan for August 30, 2024

1

Rafael Ken Aguilar

Aug 30 2024

AUDUSD Intraday Analysis and Trading Plan for August 30, 2024

1

Rafael Ken Aguilar

Aug 29 2024

Bitcoin Intraday Analysis and Trading Plan for August 29, 2024

1

Rafael Ken Aguilar

Aug 29 2024

XLM Intraday Analysis and Trading Plan for August 29, 2024

1

3

Rafael Ken Aguilar

Aug 28 2024

XRP Intraday Analysis and Trading Plan for August 28, 2024

1

1

Rafael Ken Aguilar

Aug 28 2024

Bitcoin Cash Intraday Analysis and Trading Plan for August 28, 2024

1

Rafael Ken Aguilar

Aug 27 2024

EURUSD Intraday Analysis and Trading Plan for August 27, 2024

1

Rafael Ken Aguilar

Aug 27 2024

Gold Intraday Analysis and Trading Plan for August 27, 2024

1

Rafael Ken Aguilar

Aug 26 2024

Bitcoin Intraday Analysis and Trading Plan for August 26, 2024

1

Rafael Ken Aguilar

Aug 26 2024

USDCAD Intraday Analysis and Trading Plan for August 26, 2024

1

Rafael Ken Aguilar

Aug 24 2024

DJ30 Intraday Analysis and Trading Plan for August 24, 2024

1

Rafael Ken Aguilar

Aug 24 2024

NAS100 Intraday Analysis and Trading Plan for August 24, 2024

1